The south-western. [volume] (Shreveport, La.) 1852-1870, 1857-06-24

in the Ceres, published at Houma, Terrebonne
parish, the proceedings Of public meeting
held a few days ago, for the purpose Of secur-
ing the speedy construction Of branch of the
New Orleans, Opelousas and Great Western
railroad from lis present terminus to Houn,a,
together with the report made BY the gentle
men appointed to confer with the president and
directors of the railroad. They say:
Your committee called on the officers and
some OF the directors of the company, and in
the afternoon went to the office of the compa-
ny where they spent the whole evening in the
ante-room. without being admitted to the pre-
senee of the board; they being engaged, as
your committee were given to understand IN
receiving ambassadors from Texas, and trans
acting other important business The board
were however graciously pleased to cause us to
be informed that we might, on the following
evening, lay our propositions before their COM
mittee on construction. who would report to
them. We accordingly, on the evening OF the
10Th inst, had the honor ofmeeting two mem
beers of the before mentioned committee of con-
structon, together with the president, vice pres
ident secretary and engineer OF the road, be-
fore whom we laid a written proposition to the
effect that we would subscribe and pay to the
capital stock of the New Orleans, Opelousas
and Great Western railroad company the sum
of one hundred and fifty thousand dollars
payable in FIVE semi-annual instruments; or as
much more as might be necessary, together
with the States proporonate subscription, to
build and equip abranch railroad from Houma,
to connect with the Opelousas road near the
Terrebonne crossing, provided the said COM
panv would use the money so subscribed IN
building and equipping said branch, and when
completed run it in connexlon with the main
road. The subscription of $780, 900, together
with the 90 per cent to be contributed by the
State, would raise a fund of $4,000, which
according to the estimates furnished by their
own engineer would be more than sufficient to
build and equip the road. In support of our
proposition we laid before the committee sta
tstcs and calculations, going to show that I'M
der tie management of the OpeIousas company
and tie economies they would be enabled to eff
feet, the business of the branch road would pay
a per centage or profit fully equal in proportion
to distance to that of the trunk, while 1t would
divert to the main trunk a business now gong
through other channels, worth at least ten per
cent on the whole cost OF the branch. The
committee and officers of the company appeared
fully satisfied with the representations of the
and we leftthe city on the follow
ing day impressed with the belief that the ac
ton of the board on our proposition could be
none other than favorable. But we are sorry
to say that our hopes were disappointed. We
have the honor to lay before you herewith a
resolution of the board of directors Of the Ope
lousas company, passed on the 21st inst, pro-
posing terms to us so oneTous that we conceive
it would be impossible for us to comply with,
even if we were willing to submit to them:
Resolved, That the president be requested
to address the committee of the citizens from
Terrebonne, and propose in answer to their pro-
position to build branch road from Terrebonne
TO Houma, that on the subscription and pay
ment to this company, of the sum Of 5000, 900,
viz: S25, ZOO cash, and satisfactory city paper
'or the balance, in three equal instalments, at
5, 9 and Is months from date of subscription,
hen this company will proceed to build said
branch road, and continue its construction as
asst as the funds are realised in cash. No GER
ifcate of stock to be issued until all the notes
IRE paid. 4 true copy.
BENZ F. FLANDERS, Sec'y."
The subscription of $500 900 together with
he 90 per cent. that would be advanced by the
State would raise fund of $S24O, 600. So that
he proposition of the board involves, first, a
oonus in its favor of from $50, 600 to $575 900;
second, they require onequarter cash, and the
balance in 6, 9 and 18 months, making a credit |
If less than ten months on the whole 5000 900;
md, finally, they are unwilling to trust US, but
equre US 20 pay tax to the commission mer
hants of New Orleans of $5OOO--to get them
o endorse our paper. Even if our right to avail
ourselves of the contribution of our subscrip- |
ion would draw from the State were question
bic, still the amount demanded is considera
ly more than would be necessary to build and
quip the branch, and the terms of payment
UGH as we cannot comply with. We confess
} both surprise and disappointment on the re-
cipt of the foregoing resolution. We had sup
osed we were laying our proposition before
,llow citizens who felt an interest in the I'M
rovement of our own State, as we'll as making
connexon with Texas who knew our neces
ties and our means. and who would sympa
Use with us; especially as we asked no mon
Y Of them. But they really seemed to treatus
5 if we were a conquered people, bound to
ay them tribute.
We are sorry the people AID the railroad
)mpanies cannot get on smoothly. Their in
rest should be identical, as i'll case they con-
let the railroads become useless and unpop
ar, and finally decay for want of patronage
According to the commercial journals spirit
speculation has Sprung up in sugar. As it
supposed the crop of Cuba will prove short
le, the sugar brokers have, it is said, received
rye orders to purchase on speculation in New
ork and prices Immediately advanced from !
eeighth to three-eighths of a cent u ID. The 6
Y. Herald reports that the sales in two days ,
counted to over one million of dollars. The {
erage price paid per hogshead (l4O0 Tbs }
as about $3.50. There is also large specu- J
i've movement in teas, at an advance of three
five cents f8 ib. on all the lower grades, while +
e higher qualities were sold at very full prices.
Our readers may remember the celebrated c
,eside claim, for the payment of which con- /
ess appropriated 1926, sol 70. Mrs. Rec 7
e tho pyacutriy If tho estate ho raoovor Y