Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1858-12-28
Dp Gflfarapb.
Pacific Railroad convention.

New ORLEANS. Dec. 27.-The Pacific Rail-
road Convention, after six sessions, adjourned
Friday evening to re-convene at Marshall. on
the 18Th of January. IT. sessions were some
times stormy. aud again calm but its final
! result was all its friends could wish. or its
enemies dcplCre. Information gathered from
the reports of the committees and President,
and from responses to resolutions. show the
Company's Indebtedness about S3-7 900 of
pressing liabilities included in the deed of
trust under which the road was sold to the
creditors who compose the new company and
now have possession. Part of these claims
will be disIllowed The payment of these
claims will release the ass Is OF the company
sufficient to meet the entire liabilities. which
do not exceed half million, including the
deed of trust debts. to meet which SI35, 900
cas- are in the hands of FOwIkes and agents
collected from the fifty cent loans and unpaid
stock. Fowlkes has also closed contract
for $4,000 shares Of forfeited and donated
stock, realizing S1l0 900 more in cash or its
equivalent. making a total of S245 900 where
with to meet tue trust deed debt leaving
So 900 to be provided by the ew Orleans
and other stockholders throughout the coun-
try, in fifty cent loans and unpaid instruments
The comp INV looh confidently to these to
furnish th balance with every assurance that
it will be done.
Fuwlk., holds besides 10000 shares for
now made by responsible parties. that will
entirely relieve the company. TIL payment
of the trust deed d hts is therefore a fixed
fact. Fow likes, and the delegates from
abroad are in high spirits at the success of
the enterprise. Nothing now remains bat to
get Texas to reluqush the suit for the forfeit
ure OF the Charter, OF which Fowlkes and the
Texas geutl men entertain no doubt. Texas
is disposed to dismiss the SUIT soon the
with disposition to CO mpletc the road. Most
of the delegates left Saturday. Fowlkes aud
the collecting agents remain until about the
tenth, and will Ia n 90 To Marshall. \ better
fplug exists here than ha~ been known for
some time. Burkharilt. oi X Htucky, is APP
pointed t. receive the New Orleans cOllcc-
tons. Toe stockh ld.rs are making loans
Literally aud paying calls on ST OK not fully
paid. Col. CORN is appointed Assistant
Counsel for the company. The Convention
resolv not To &c into the election of Presi-
dent at present COrnwell. of Cincinnati. ad
dressed The Convention, urging careful man
agrment. Kings long address will be- pnb-
li>hcd in full. n resolution of thanks to the
President was passed. Mr.. Morton congratu-
lated the convention upon the successful issue
and the bright prospects for the future. The
Convention adjourned, to meet at Marshall.
as above mentioned.
NEW ORLEANS, Dec. ZI.-COl. VIM. /. scott.
one OF the new company. now in possession
of tn Southern Pacific Roiiroad, just from
Texas, says the only thing the old company
have to do is 10 pay of the debts aud take
possession. Other members of the new
company are here, and say the same thing.
The Nv Orleans stockholders in accordance
with the resolution adopted by the conven-
ton. are paying rapidly to-day
DIR. Eowlkes says: The road is now out of
40 a * FL at Is
cess. 1t is reported here that those who pay
the loan will be protect d. and those who do
not help will be cut OFF in case sal should
be forced. No donbt, however. exists among
the well-inlormed of the success of the enter
prise.