New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-07-12
HISTORY o. tne southern p,elac Raslroa,.,

I
From the Marshall arrison county Texbs) Flag Sd inst
| The late sale Of the Southern Pacific Railroad IN
der deed of trust, and the legal proceedings had in
| Marshall, in consequence OF an injunction granted
by his Honor Judge Frazer, to Dir. Fowlkes Of Mem
phis, and Edwin Post of New OTk, las stockholders
Of the sOld-out company to restrain its purchasers
nor are subjects which have than any other, en-
crossed public attention in this immediate section OF
country since the happening Of these contingencies
are the people OF other parts Of the Union wholly
unConcerned in reference to these matters in cOnse.
quence of which, we have heretofore felt and still
feel the necessity as a journalist, OF presenting as
many facts pertaining to the subject matters as our
columns would or will permit. In this view Of the
subject, having his permission we publish today
| Judge FraZers remarks delivered, and the orders
made by him at the close of the trial for contempt Of
court for disregarding the writ OF injunction served
upon of the purchasers and owners by virtue Of
| the aforesaid sale
Judge Frazer is SO clear in his remarks that we
| deem comment unnecessary. However, we will be
permitted to speak in reference to thing or two,
| The Judge stated that which every one knows who
| knows anything about the matter, when remarEing
of the immense donations by State and the little
progress made by the old Company in advancing the
work. while they protested, all the while, TO be acting
in harmony and concert Notwithstanding all these
advantages before the sale, the enterprise vas in
sinking condition, upon the verge OF failure in the
hands OF the old Company. In view OF these facts,
think the Judges remarks, that he sees nothing
on either side to entitle it to equitable consideration
premature relates to the purchasers of the road.
They have only been a Company since the second
day of last month, and the construction committee
have been in legal custody at the instance of stock
holders of the old Company nearly ever since till
within few days. Therefore we cannot agree that
there would be merit in petition to the Legislature
to wind up the affairs of the new Company and
petition to any source to wind up the affairs of the
old Company would be perfectly useless, as they did
that thing for themselves and therefore have nothing
to wind up This proposition is as clear as the
clouded MONDAY SUM- if you admit that new Com
pany exists. Two bodies can fill the same space at
the same time, as easily it occurs to u.s. as that each
of two companies can at the same time own the pro.
pery belonging to- and the franchises of the South
ern Pacific Railroad. But we have this to say after
the Company shall have fair trial if they can
give no evidence Of the elements of success we will
heartily subscribe to petition to the proper au-
thortty to wind up the concern,
We believe besides the new Company, there is no
Southern Pacific Railroad Company in Texas. But
we greatly fear it will be encountered by litigation,
by persons actuaed by kindred spirits to the dog in
the manger, and by which the progress of the work
will be uselessy retarded But for this the new Com
pany would advance the work, in our opinion-per.
hsps slowly, bnt certainly. Better thus, than so
much parade, such as we have been accustomed to
from the salaried agents of the old Company, and
which were the source of more msstatements than
all others combined. Preparations are being made
to advance the work to Marshall.
letter from Mr.. Lawrason, dated New Orleans,
18th inst, is before us, from which learn the loco.
motive springs, etc, to be shipped on the sue
ceedng Monday. Gov. Pease was IN the city a day
Or two preceding the date of the letter and expressed
himself delighted with the sale. Mr.. Hobrook
banded in his resignation to DR.. Fowlkes before
starting for New York, the Thursday before it is
stated the authority of Mr.. Person, who will have
nothing to do with the old Company himself An
other letter from Col. Archer published elsewhere
will throw some light the subject under consider.
alton.
We trust the new Company viii furnish the reports
of their condition in order to prevent mpositions,
such as were practiCed by false statements of inter-
ested parties aud their hired strikers in the old Com
pany Let such a course be adopted as will place
The facts before the publc-nOthtug else should
satisfy them.
The following paragraph appears in another col.
umn of the Flag:
Public attention is invited to a prospectus" of the
History of the Southern Pacific Railroad, which APP
pears in columns to-day, aud which is in course
appropriation for publication. The work will be one
Of interest, there is to doubt but it seems to
US that it would have been more apt to have had
run if less youminous,
We have read the prospectus" alluded to, 1t is
rich, rare, racy and redoIent The work, when pub
Iished ii it comes up to the promises Of the pros
pectus, is bound to create tremendous sensation.