The Texas Republican. [volume] (Marshall, Tex.) 1849-1869, 1858-05-22

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sathrrn r.ethe Railroad.
purrlan. TO adjournment, the stockhold
ers ga Ibis undertaking met at the ollite OF
tho company, yesterday, to receive the re-
port Il tue comm Zee.
Col Elnorc called the mceting 10 order
and Mr. T. X Pace, rs chairman OF the
committee, handed him the following
report - 80
Nav OnirANs. May -, 1858.
70 the Stockholders OF the Southern
rac,ao 4. K Co:
Yaaf committee appointed in your be-
half 10 confer with the creditors OF SAID
road now 10 this city, in order 90 ascertain
tae amount necessary to be raised TO re
hevo said road from its present emhatrass
meni, beg leave to report
That ,t wtii require abou, $3.50 600. and
undsf existing circumstances, your com
mitiee believe it wholly impossible to re
alizs the amount, and could not advise at
pre.ent iaflnor Investments 10 said road.
ned l., tao event the same be sold, would
recommend that the stockholders throw
themselves on Zoe ubefaJiy OF the puf-
chasers.
Your committee believe that your agent
the President, Geo ;. efger, has upon all
occasions, acted Ia good taaa, and done
everything that be believed to be for your
interest, aud has the entire confidence
OF your committee.
All oil which is respectfully submitted.
Tnos N PRcr.
VI PnIiCnER,
c. ". piNcRhEp.
4 discussion epBuod as TO the course TO
BE- rur.uel ia dHtur with the report. Onc
gentleman wished The yieNs and feelings OF
the stock holders present to be expressed
~ to ihe vh 10 origin, proceedings aud
mans gmenl Of the undertaking; bat Ibis
Wa. pronounced on, Of order. /, was then
maYsd that tAe report be- accepted, but ob
lection was taken that the dsbt, property
and undertaking ough, not to be abandoned
IN this manner
Mr.. J.. ". Gurey WAS requested to act
as Secretary
MIR Fuller moved that committee be
appointed TO inquire what would be tas
lowest amount with winch the creditors
could be- satisfied, and spoke IA high terms
oi Mr.. lefgsr, the President he motion
was not put. rs 1t was objected that tue re-
port stated what would be necessary to be
raised \ motion to reqncst the creditor.
TO come forward aud say they would see
ma pde stockholders protected on selling
the road. aad to adopt the report WAS de.
cIafed out Of order Nh pton moved TO
divide iuo report. lay the first portion on
the Table iude6atey. and adopt the other
portion. This motion WAS carried
Information was then called tori to the
effect OF tna snlo OF the railroad, aud par
tcu,ary whether 1t would carry with It the
title to ali the property, privileges, grants
and charter TO the purchaser
Messrs " gta.l and l efger being called
on, respectively responded to this call, the
latter gentleman reading law ct the state
OF Texas, passed ia December hast refer,
ring to the subj ,ot and that cxpucllely lays
1t down that 90 all respects whatever, tx
ccp, that Of qlIaatIus the affairs. tAe pur>
chasets shall bet uo thc company
Mr. t. Il Price SAID, tina; "a order 10
save all useless discussion, he would state
the condition OF the company lie had,
with other stockholders, put his - 800
into tho undertaking, aud win ine'h ne
nan uorn do.c,Fcd hnd dipped, Tor he be-
ilee that every boz 'y here had sctoj iu tha
uobiost splnt aud the most porloc, good
faith Bat there had been wrong done, and
ever, body know, be believed, whore to point
for o., and the consequence was that their
whole stock taken 70 the amount - .3l>,
OOO was not worth ono chaw OF tobacco,
under the management OF tho Old dynasty.
This was che polutol the affair. /. was no
use 10 60 back to old matters. He would
observe however, that Notwithstanding all
this there was nothing TO proven. them from
standing on their reserved rights III saw
many oil and experienced merchants
around him who would understand what he
meant IN lhat Ihoy bad those tigbts. aud
he Tor one would use tAem. Il would be
no use to tfy TO night matters NOW; t15 il
the money could be ruised, il would be
throwing il away He would not invest
50 ia it They had been humbusgod. not
by any Of our iellow,cill2sns, as he had
sMd, but in the North
Nh Fuller moved tho following rcsolu,
tons:
That committee Of three be appoint,
&c to make a fepor, and history OF tao Gu
tire Pacific RAILROAD project, to ceusurc
any who may b. entitled to ceusurc. and to
eSonetate all who may be unJaslly eousur.
cd
IN support Of Il. he said that MIR. }etger
was like Caesars wife, above suspicion. aud
that whatever wrong had been done, he had
only been used as tool The PROJECT was
got up by Robert j. Walker, nj Nbio's
Garden, IN New York. aud the frat day the
books were open, he took SO 900 900 OF
stock, aud Mr. Joel G. Sever took 81 5000,
600, they then wen, home to dinner, got
drunk, and then went back and subscribed
fer fsitAor s'mlar amounts. Aud at the
very moment the shares waro being so loud.
~ recommended to u.s. here editors bad
come TO him and offered them to him. for
less than they could be got for al the office.
And what had been done with the money
raised a, Nashville, St, Louis, and Louis,
willie,
Mr. Fnller's resolution was amended so
as to make the commute. twelve ia number,
aud then passed. Il was agreed that the
Chair should hereafter appon. the com.
mitce.
Mr. d S Bryan then moved the follow,
ing resolution:
That n report be- made of the stock suh.