The Texas Republican. [volume] (Marshall, Tex.) 1849-1869, 1858-09-09
TN AAIlloAp coHT1ovx1sY
4 ROOD OF LIcH9 oS THE orBJEc1 FROM
- An UHHHpDCrEp AorkcE


lead~ b. ben written upon IL. Ono cs1munt
cation sssceeiAae sno,h~'A~ appeared in the
public prints so.nc Of them emins,ing from
ecutianaen o! acknowledge ability User tasis
cwn proper signatures Others anonymous, writ
ten with the prosessed object Of simply az Discus
sing a question Of great public policy" Nor
tas !. stopped hsrs. The Oo~.s bas had Il m
dx Investigation. For ten consecutive days. IL
res ssbjecs Of thorough rscarch IN our Court
house. and when al the material facts were
brought TO light, several OF the mos. eminent
lawyers in the State discussed the question clabo
rately and with grea, sbiii,y. Their speeches
alone, If Published, would form book Of two
hundred pages Of solid octave We thought
and not without reason, that the subject was eS'
hansted. To our surprise, however, the editor
of the Upshur Democrat, paper Published at
Gil-ic., ga-e his readers 10 understand that be
had recently been rejecting very seriously On the
suhjcct, and in a succeeding issue Of bis paper
would give them the result Of bic Investigations
We do no, know which most TO ndmirc, the
elaboration with which our co,cmrorary has
acted or his modssty Perhaps those who may
have -ead hn paper Of the Goth nit, which con-
sains the fhr.!ained promised review Of the CUES
ton. will conclude tina, The latter quality appears
in a more conspicuous ligh, 10 chslicnge our re
gard. He assumes in his introductory great de-
vo,ion TO the enterprise and that be has stoot,
aloof from the recent discussion. under the hope
(which Of coune has proved deluslvel that the
question would be settled without his assistance
ard the work 70 on bu, that AZ he Las been
disappointed, he now steps forward a. one per-
fecty dsin,crested and candid, and outside o!
the influences that may have controlled" certain
Journals in this state, "to po'pn the public
mind" to -rview the controversy
A,or this flourish Of trumpe,s," /; was ma
.urelly to be expected that our contemporary
would have developed something startling and
original. To our surprise however. We found
bis reflections but fehaSh Of what ha been nub'
lished in defence Of the deed Of trust and sale Of
the road. !, IA bat arepeti,ion Of the old story
ls, Tha. something had 10 be done TO ares,
the wholesale swindiug Of Wall street and other
INSCRIPTIONS spectators
End That without the trust deed the work
would have been arrested ard the charter for
fei,ed
3D. Tina, the pecuniary difficulties Of the com.
pany originated from the financial crisis which
swept over the country, and the road was Hold TO
pay the creditors. afler every indulgence had
been given to raise money to pay the Indebted
ness Of the company
4th Tha, The trust deed was authorized hy
the directors. and executed by Nr Ycrscr. gen
,lemau Of urblemished reputation.
9Th. Abusa of Jcplha Fowlkcs. whose sole
ohec, was TO delrde md deceive the creditors,
and prevent the payment Of the debts Of the
company
We have 40 fully discussed these propositions
tina, we deem il unnecessary 10 recapiulate our
arguments and positions in detail We have
shown
ls' Tha. these Wall street operations, "a they
are denomina'ed occurred long since that they
were known 10 these very men who are now com.
planning Of them. and who then defended the
company That they pretended to have inveti-
gated them las, winter and after prois.ing to
have made n careful examination, acquitted these
New Workers Of all charge If frand and mani
sested their confidence in them by reinststing
them in their former positions
End We have shown that the deed Of trust
was Illegal and void and made without compe-
tent authority. Tia, the charter did no, confer
upon the President and Directors eny authority
to execute such an instrument. That the in.
struc,ons Of the Directors were rot carried out
by The President. That the New Orleans man
agcmen, wp A. bad N tha, Of New York, That
1913 900 were raised in New Orleans from the
sa~ Of stock and cash paid in upon instamcnts
That this money disappeared by the LIST Of Au-
gust. and has never been accounted for, Tia. i.
was amply sufficient TO have completed the TWEEN
~ miles Of road, and M ten miles were already
graded Il should have been finished by the first
Of September Tina, ....c financial crisis could no,
consequently have injuriousy affected the com
pany, That the decd Of trust never saved the char
ter and was no, intended for that purpose, for the
reason that Il contemplated the sale of the road
In January, a month before the charter could be
saved. and when money could no, be raised with
such mortgage hanging over the company and
for the further reason that no attempt was made
to raise money until after ts execution. and tina,
only 81 200 were then obtained,
3rd Tia, the road was no, sold to pay the
creditors Of the company, and that so far from
being paid they are now In $ worse condition
than before the sa'e Ths, ii ths, had been the
intention they would have advertised the road in
thr principal cities Of the Union, giving q, lost
ninety days notice, and have conducted tho sale
in manner TO have invited purchaser
ath, ThA, DR.. Fowlkes waS no, director in
,as company, and earno, therefore he charged
with iu bad management II be is the corrup.
man AZ charged by our Contemporary. Why WA he
iatrus;ed with the financial management Of the
company Or If they expected or deaired him
to saise the money necaaBary to pay TIP the In
dsh.edrea Of the company why we're obstacles
thrown in TIE say TO pre~en' him ff,m doing 30 ?
n..-x -.