The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1857-08-13
THE LOUISIANA TEHUANTEPEc COMPANY.

THE LOUISIANA TEHUANTEPEC COMPANY.
The New Orleans papers Of the 9th instant contain
the proceedings, briefly noticed few days ago in
the Uaon Of the board Of managers Of the old Tehu-
antepec Company, at meeting held on the 30th ult
The reasons for the dissolution of the company are
thus set forth in the preamble and resolutions adopt
ed at said meeting:
NEw ORLEANS July 30, 1857.
Whereas the report made to this board by the president
as to his late mission Washington in furtherance of the
great enterprise which the object Of this company
satisfies us:
l. That no arrangement whatever can or could be
made with the owners Of the Gray grant on behalf of
this company.
O. That 1t was impossible to obtain the mail contract
for this company and
g. That the title of the Soo grant not in this
pany other parties having acquired it under rights de-
rived from Mr. Soo without the knowledge of this board
and
Whereas, in the opinion of this board, the title to
the Soo grant not being in this company. the organiz
ton Of said company has basis to upon, and that
the longer continuance Of this board in existence would
deceive the public, and possibly induce investments in
the prosecution of enterprise that be
pshed by this company to the great dscredit of this
board: Therefore be it unanimously
Resired That this board be- and the same is hereby,
dissolved
Resolced That the members of the board severay
hereby resign thcrefrom.
Under an act of the Legislature of Louisiana of
March d. 1865, new company has been formed
which is called "The Louisiana Tehuantepec Com
pany' tho corporators heretofore representing rival
interests, but uniting for the purpose of con-
sructing railroad across the isthmus of Tehuan-
tepec under the several grants heretofore given for
that purpose by the Mexican government. We give
below few extracts from the charter Of the new
company, in which the plans and objects Of the
porators clearly set forth
ARTICLE H.
The said corporation is established for the purpose
constructing carriage road from the head of navigation
the Coatzacoalcos river to point the Bay of
pentosa in the Pacific ocean, and of constructing also
railroad from said Coazacoacos river to the Bay of Ven
tos according to the conditions of said grants known
the Garay and Soo grants and enjoying and conducting
the navigation of said Coatzcoalcos river according
the terms and conditions Of said grants and agree
admit associates under this charter such persons
and their assigns shall hereafter subscribe and pay
stock upon the terms and conditions hereinafter provided
ARTICLE III.
The capital stock of said company shall be ten millions
OF dollars, divided into shares of hundred dollars
each, which shall be appropriated as follows, viz:
$4,000 shares OF eight millions of dollars shall be
subscribed and paid for AS hereinafter pro-
10000 shares, two millions of dollars shall be issued
full paid stock, and delivered to the trus-
tees who hold the title to said Garay and
Soo grants, under the deed Of trust executed
. by P. A. Hargous, for himself and as represent
ing the rightsof f. p. Falconnet how holder Of
the Sloo grant under the decree of the Next
government.