New Orleans daily crescent., 1857-05-11

The report of the Secretary, which accompanies
this exhibits correct statement of receipts and dis
bursements since last July up to the present time.
twill be the duty Of the Board Of Directors to en-
ploy Immediately a competent engineer to supern-
tend not only the improvements on the preliminary
road but to proceed at early period as practica
BILE, to locate the Railroad and to carry out the re-
qurements of the charter and contract in every sense
of the word in order to enhance as speedily as posi-
BILE, a just appreciation of the enterprise
1t will also be requisite for the Board to pursue
strictly economical course in the discharge of the du
ties before hem past experience has taught that
in several instances personal enterprises have been
gone into by parties in the employ Of the company at
an outlay of the means of the company whose inter
ests they had been employed to superntend and pro.
tect with their whole time and ability. Such proceed
ings must not be permitted to exist, but rigid scru-
tiny should be had into the transactions of all, and
none who devote their time and attention as employed
to do can object to any investigation on the part of
the Board as it is their inherent right to exercise
1t is not to be believed that in this age of enter
PRISE intelligence and REFORM the citizens of New Or
leans can calmly fold their arms and look with indf
ference on this great enterprise, now within their
grasp Nor can they be unmoved spectators of work
which will enhance the prosperity of their devoted
city and country, without being stimulated to sense
of duty and of right to assist in fulfilling the destiny
designed for New Orleans by boldly coming forth at
once and shaking off the shackes of Northern preu-
dice, and claiming proudly at their ports not only the
trade of California, but the whole commerce of the
Pacific ocean. When we take into consideration the
numerous internal improvements now in rapid pro-
gress of completion in and around us in adjoining
States-such as the Alabama and Florida Railroad,
the Mobile and Ohio Railroad the New Orleans Jack
son and Great Northern Railroad and the New Or
leans and Great Western Railroad, all of which are
destined to add greatly to the prosperity of New Or
leans-t is evident that on their completion the tide
of travel to the Pacific must go through cur city and
the Isthmus of Tehuantepec as the shortest and
most feasible route.
This undertaking once gone into with real ZEAL all
obstacles will cease and give way beneath its mighty
influences. How necessary, then, that we give to
subject of such infinite importance the earnest and
deep attention deserves and struggle to free an en-
terprse fraught with such incalcuabe benefits to our
city.
Notwithstanding the hardships and the tolls which
have marked our struggle and the force and skill of
contending parties have kept the great object in
view, and have the trmer and stronger reliance to
succeed But we cannot expect to do so without ex-
ertion sacrifice and assiduy Let not the difficulties
which have hitherto existed blight the fair prospects
before u.s. and in due time we shall realize the condi-
tion we seek for and reap the benefit of our labors
WALTER NTGoL, President T. G.
Receipts and Disbursements of the Tehuanepec
Company from list of june, 1856 to 4sh May, 1857;
Amount disbursed. ............. ...,..... a5S22 %
Amount on hand. s27 81
ADDRESS Of the President and Directors of the Te-
huantepec Company to the Public.
New ORLEANS, May g. 1S57.-The newly elected
Board of Directors of the Tehuantepec Company en-
tered upon the discharge of their duties on the 4th
inst They refer to the foregoing report of the late
President for full statement of the affairs of the
company and of its management since the inspiency
of the organization of the former Directory in June
1856.
This great enterprise is now in condition to be
made Immediately available for traffic and travel.
Contracts have been entered into with parties of ac
knowledged means and reliability, under which the
road is to be thoroughly opened on the lst day of
October next These contracts comprise the building
"a
piers and the placing of suitable steamers
on the Coatzacoacos river so as to put the transit in
complete working operation within the period speci-
fed. The company has already been advised that
the contract for stocking the road with stages, wag-
ons, etc. has been completed, and that the material
is now ready for shipment.
To prevent the most remote contingency of any
further delay in the progress of this important under
taking the Board find it necessary to raise the sum of
100000, which will relieve the company of all its
existing liabilities and furnish the means to aid the
contractors in the prosecution of their operations In
of this purpose the Board propose to issue
seven per cent. bonds, having three years to run,
with semi.annual coupons attached and they conf.
IDENTIFY solicit subscriptions to this ISSUE satisfied that
assistance now timely rendered will be the means of
oonfeing New Orleans all the inestimable benefits
that must inevitably result from the opening of this
great inter-oceanic communication.
Information recently transmitted to the company
places it beyond all doubt that contracts will be en-
ered into at an early day for the Transmission of the
Pacific mails across the lsthmus of Tehuantepec
This the Board consider settled point and their in
ention is to apply the from this service as
sinking fund for the punctua payment of the interest
't these bonds and the eXtnguishment also of the
principal The traffic and travel which must infal-
)ly set in on the opening of the road will not only
suffice to pay all the running expenses, but must ac-
,ording to the lowest estimates leave large and rap
dly growing surplus.
In assuming the trust now eonfded to them, and
ully impressed with the magnitude of its importance
The Board of Directors deem it almost work of su.
to dilate the momentous results that
ire to flow from the immediate opening of the Teh-
antepec transit The advantages of this route, exc
'vely Southern, exclusively within American waters
md shortening by so decided period the travel to
our Pacific possessions, have been impressed SC
thoroughly on the people of New Orleans, and are
moreover so familiar to every one in this community
hat it would be superduous to recur to the subject
anew But it Is proper to urge, and the Board state
10 most emphatlcay and in confidence, that these
immense advantages are now within the immediate
grasp OF our tellow-ctizens. They hold this great
Ieasnre in the palm of their hands let it be their
inty to see that it escape not by any suicidal neglect
u supineness on their part
Despite the toll, the anxiety. the struggles and the
Obstacles which the company have thus far encount
red and not unmndtul of the work vet to be accom-
'lished, the Board has determined to prosecute the
ask devoving on them with all the energy and ap-
'llances at their disposal. They rely with confidence
IN the hearty cooperation of their fellow citizens