Nashville daily patriot. [volume] (Nashville, Tenn.) 1855-1857, 1857-01-01
THURSDAY, JAN. l, 1857.
The southern PacIr,c T,.,Iroad.

euV"s tne conoltion OF the Company TO be very
prosperous and full of promise of success While
spectators AMI treasury sharksare Wre-pullng and
lobbying at Washington TO procure the passage of
PACING railroad bill, aud caring much more for the
success of their schemes deplrte the public trea.
eury than for the construction of any great ration.
al thoroughfsre, THE Southern Pacific Railroad Com"
pany will press speedily forward with its great ems
terprise. and in all probability before any railroad
bill can be pushed through Congress this road will
be completed to FL PasO, more than half way to
che Pacific ocean.
Ii is magnificent undertaking and has within il
all the elements of success. Il is now under the
control OF able and experienced directors among
whom emen ofthe greatest wealth and'enterprSs
and talents in the country. Horatio Allen, of New
York; F. II. Dimond, of Rhode Island; T. Butler
King, f Georgia; Hon. r. j. Walker, EX-Secretary
of the Treasury; NJ. G. Bright of Indiana; R T.
Archer, of Mississippi; Gen w. Cook, of New
Jersey; VIM 7. Scott, Of Texas; and Col. Cbas. s.
Todd Of Kent1cky, among the directors of the
Company. All the difficulties which have hereto
fore obstructed the progress of the road are now
happily removed, aud it will henceforth progress
with great rapidity.
The Company possesses peculiar advantages,
such as have never been enjoyed to the same eI-
tent or any other railroad enterprise, not excepts
ing the Illinois Central. 1t was first chartered by
the State OF Texas in 1852, under the name Of the
"Te1as Western Railroad Company" At that time
10 a0GltlOn TO tue nDeral PROVISIONS Vi
ter grant of eight sections or 100 acres OF land
for each mile of roa5 constructed was made by the
Legislature of Texas. At the last session OF the
Legislature of that State, the Of the company
was changed to that of the ''Southern Pacific Rail-
road Company" and the grant of land was inereas-
ed to sixteen instead of eight sections per mile, and
loan of $4,000 per mile, at per CT for ten years
granted TO it.
The charter and amendments now provide that,
on the completion OF each five miles Of the road,
the company becomes entitled to 25, 600 acres Of
land, which valued Of So per acre, low estimate,
will Weld $l2S, 900. Whenever ten miles are COM
pleted and ten more graded, the company will be
entitled to a loan from the State of Texas OF $780,"
600 for ten years at per cent, aud the same
amount for every section of ten miles thereafter
constructed When twenty-five miles of the road
are completed the company will be entitled to the
sixteen sections Of land per mile, giving for each
twenty-five miles of road aggregate Of 26S, 900
acres Of land which, estimated at s. per acre, will
yield 81 $4,000.
In order to secure these grants of land it will
only be necessary for the company 70 grade and
furnish with cross ties Ten miles of the road by the
10th of February, 1857, and they will have this
COMPLETED by the lst February, and means have
already been provided TO finish the first twenty
five miles of the road as rapidly as possible.
The total cost OF the first division of this road,
distance OF 783 miles, from the eastern line OF Tex
as 10 the II IdSO 10 6btllHdbcu ~ tOSAi AOD'
For the whole line of the road the company will be
entitled to receive from the State of Texas an age
gregate of over s 600 600 of acres of land, which,
at the very low estimate OF five dollars per acre,
will realize for it over forty millions OF dollars to
which, as means for construction, should be added
the State loan Of SO, O0Q per mile, or the aggregate
loan of over four and one-half millions. 1t will
thus be seen that the assets OF the company VIII
be abundantly more than necessary 10 complete
and equip a first class road for the whole distance
and leave an immense surplus in the hands OF the
company for the benefit Of the stockholders. 1t is
scarcely probable that these lands will be sold at
the price indicated; all that have been disposed oil
by the company during the last spring and sum
ruer averaged as follows in March Sl2 per acre,
AnriI SIG Nav and June SIS. AS he road ad~
vances, these lands will continually appreciate In
value.
ItIs impossible 10 make in advance even an ap-
nroximate estimate of the business and earnings OF
this road when completed. Il will be the great
thoroughfare for the trade and traVe ho1 only oe-
tween the vast Atlantic and Pacific coasts OF our
own country but TOR the whole commerce aud M
accommodation between Europe and ASIA aud
the Eastern Islands. The average time from New
York 10 San Francisco, by this route, when tins
road is completed to FL Paso will be twelve and
halls DAYS. The time required by this route from
Liverpool to Sidney, in Australia VIII DC lnlrty-
five DAYS, and to Shanghai, thlrty-seVen Gay
At the Eastern terminus u thS DOe'3
road the whole valley Of the Mississippi, the Gull
of Mexico and all the extent of the Atlantic coast
will he mid under contribution by direct hetroad
comropnication. By means of the Cairo and Fulton
and Central Illinois and Iron Mountain Railroads
all the trade of the great Northwest ana Nortnerh
Lakes and the Northern Atlantic states VIII DO
hrongbt directly 20 this road. Through the Menu
nbis and Litt!e Rock road, via Nashvle and Louis
ine sna Cincinnati the rich Middle States will be-
.o.oa i,s tributaries. The Vicksburg and Shreve-
.o,t ond the Mississippi and Alabama ROOFS will
1000, Il 6irectly with Charleston, Savannah, and
Mobile The New Orleans and Opelousas road wiil
Give II virtual terminus at the mouth OF the MIS-
sissippi; and the Mexican Gull aud henderson road
will furnish il With great oOinl"e'0'"' 'S0 "
on Che Gulf of Mexico.
ss;,ion 20 the immense through business
t:.b !, IS destined TO command, Gn immense
ount nj aountry az its western terminus anu aiOhB
az uho,s length viii be tributary Is tys
gs,. ss,iuasted annual revenue o. tne roho wpen
,,omuIeted 70 81 Paso Is llS,o'I, ifoaA nucs'
gss,rs tsftv per cent. for expenses, we have "a,
1900 n, about thirty three per cent. net lneoiae
oeo,'o-' estimated cost OF $l463l, lSS. 1t should
uPVn ~ ~ mind that the lands, estimated at i've
DC wv ere gill leave in the hands OF the comS
surplus Of 100000 IN ADDITION 20 tue
nnaI profts Of the road. Under these c'rcu'n,
,a,.es IL Is not intended oy tue ooua 80 ~ =.
e.. ,ban Eve dollars on nc share Oh SioV, 70
tor n'ete ~. ,hs ssockhoders which Is payable IN
De pSst instalments Of one halt OF one per CT
sem" ., two dollars and hall per share, nave
rive Ssen naid TO- and the sixth call VIII be aae
80 nsvabe on the lst OF January neA@ ii.
anu P-' fo,Dossible. within the limits OF slnse
.wsnaner article do more than meIey aiuHs ~. NJ
,ha Importance and maniloie sosAl-se -. 49,
80 an,arorise Instead Ct launching oee 'u.e
g,sesnt projects Cor constructing Two o. 1nlse
,;asa az railway from the Mississippi % me
s rssh schemes to ill the Golfers o. u"se1upu-
-. snsacnlators and plaoe-nen, aho 70 uePose -
~6rc treasury II the people ana tne' -
80 ronld direct all their energies 70
sneaav extension OF the Sou'neau ..s ...,la he
=, psso 20 San Diego, great goou Noe si ~
iroiu ,;hsd ana railroad TO the Paeine sHN,e'e :,
seoon t....diate purposes would be seeore1; =
tOs a' snoaeh hereafter, when DINERS n Inv.
"ih " -s.ess.rv 10 undertake Their cons''e
ar aa-,eee,t grants OF the State OF leAas n-'
1870 insured the construction OF ss - ~
e-hslf the distance from mo Aiss'se ~ 49,
pac;6e Il will be directly Gomez come. e ~ Roeky
=; ~ states Of the Union east o. e1S
Wiz - vii virtually terminate in AL no a.
Moehsauss s.,,e norts that have already railroad
with tho interim. ihs easssiu nan
M Psclfc railroad will perhaps be nu'it oy sns
s,.,vste company who have control Of Il, ions ~
- wraarles, 10 and Outof Congress, ~ rrgaFe
,o's 's.nr;atione and tue location Of some othei
,s vii be settled il has within ITSELF the ee'
meats Of complete success and will prove immense
y nrostsble 70 those who have good torture 10 e'
reckoned among. the original stoekho'ders- We
SHAH take occasion again 20 speak o'tss advantages
and Drospects.--Lea Jar.
SrArR DEBT OF PEESsYLyAsIA.-On the lst
inst. the landed debt Of Pennsylvania amount
ed 70 SIS, $50, 975, and the unf0nded 70 $3.50
$50. There remaips in the Stale treasury and
the sinking fund the sum Of s7s5, a57, which