The Evansville daily journal., 1857-09-02
Iron for the Straight Line Railroad.

'ne iron LOT the Straignt Line haliroau, DOM
in this country and Europe, would be the
best form Of report to the stockholders and
to tho people along the line interested in its
completion, sdos. your suggestion, and
furnish you with simple unvarnished state
ment of my doings. b .r-A -
NEGOTIATIONS IN VIEW YORK.
Before leaving New York for England,
had been three weeks Engaged in negotia-
tions with parties there to furnish the Iron
for the Road. After repeated interviews and
q thorough discussion of all the terms Of
contract, it was agreed that the New York
House should take tho mortgage bonds Of
the Road at 70 cents on the dollar, and deliv-
er the Iron in Evansville for $40 per ton, with
the freight and duties paid. As the House
was largely engaged in shipping, they sx-
pected to freight the Iron in their own ves-
sells; and in paying the duties they could en-
ter the Iron at the first cost to themselves,
which would be lower than the invoices that
would be made to the road. The Iron was
to be delivered at New Orleans, shipped to
Evansville, and the bills of lading delivered
to the agent of the Road in that city, and the
bonds were to be delivered to them there.
After these terms were all settled, and the
contract, as supposed closed, found the
contractors would need a delivery Of por-
ton of the Bonds, in part payment, before the
delivery Of the Iron, in order to enable them
to purchase it in England. To this / object
ed, and declined to Fart with any Of the
bonds faster than the Iron was delivered .
and rather than part with the bonds without
the most ample security for the delivery OF
the Iron, Irelinquished the contract, as anx-
ious as was to get the Iron.
PREPARATIONS FOR VOYAGE TO ENGLAND.
Believing could purchase the Iron abroad
determined to 60 to England. Before leav-
ing had interviews with Mr.. Peabody, who
very frankly told me that the credit of Amer
lean securities particularly of American
Railroad bonds-had been so much affected
by recent occurrences, that he could not give
me much encouragement of success but h
had been in Indiana, had informed himsel
in regard to our enterprise, and thought ou
Road one that ought to be built. He volun
tarily gave me most fattering letters to hi
own House, and to some eminent banker
and Iron masters in England, and offered mi
the aid of his own firm. 1858
/ afterwards had interviews with his part
ner, Mr.. Lampson, who had Just arrived q
New York from London, who aided me witt
advice and letters. / was also furushe,
with letters from Messrs. Winslow, Lanier {
| Co., and from the most substantial and well
known bankers and merchants in New Yorl
and Boston, commencing me to the conf
dence and good offices of their correspondent
in England and France. doubt if any off
Ger of an American Railroad ever crossed tn
Atlantic with stronger testimonials of credi
or with kinder recommendations to the re
CARDS of the eminent men who influence til
commerce of the world in the focus of its ex
changes, than I carried in my portfolio
They proved most valuable to me, and woul
have accomplished the object of my mission
had it not been for inimical influences fror
nome.
NEGOTIATIONS IN ENGLAND.
My passage out was a pleasant one. o
reaching London, was at once introduced (;
several of the oldest and wealthiest Iro
masters in England, to whom opened m
plans and documents. and procured from tw
extensive Welsh Iron masters an immediat
and favorable consideration. The deman
for Iron had greatly declined, and rails wei
drug, and falling. They had large stock
on hand and were anxious to sell. was nc
long in making a preliminary arrangemer
with them for the Iron. They were to rs
ceive the bonds of the Road at IS per cent
and furnish .he Iron at s75 per ton, delivere
in New Orleans, freight and duties paie
Before consummating the bargain with then
wished to try sale of the bonds in Pari
which, if it succeeded, would enable me |
buy the Iron for cash. To this they assentet
) NEGOTIATIONS IN PARIS.
then proceeded to Paris with very stron
letters to several leading French capitalis
and to Mr.. Munro, the American banke
r
earnestly to aid me in the sale of the bond
His efforts resulted in arranging for sale
, them to the Paris capitalists and parties cor
nected with the Credit Mobilier, ut [
per cent. The preliminaries were 40 far Sc
tied, that he as well as myself, felt confdel
tho bargain was virtually closed though i
consummation was 10 be deferred for ds
or two, that the parties might be got togeth
. and the process verbal passed.
To occupy myself during the two days.
went to Versailles to see the magnificent 70,
al palace, and other objects of interest in tn
ancient royal residence. returned
Paris at the appointed time, feeling confde
that the objects ofmy visit were to be accon
plished on better terms than had evt
hoped for. On reaching the city, the star
: ling news was proclaimed that the princip
officer of the Credit Mobrlier had that mo
{ ming absconded, and embezzled $4,000, ,0
: of its funds. The CONSERVATION produced
this event, arrested all negotiations, al
produced general panic. My arangemen
;, were all defeated by it. And although
was promised reconsideration of the ba
gain, found distruss and alarm so gener,
> that abandoned the hope Of doing any thil
D in Paris, and returned at once to England.
SECOND NEGOTIATION IN ENGLAND.
On tho morning after my arrival in Lo
don, went to the House Of Messrs. Peabo,
& Co., and OH being ushered into their ba
3 parlor, found on their table, among 9th
i American publications that had just arrive
: q package of the famous Ingle Expose.
L.. :..-aIipnoA into another hank narlnr