The eastern clarion. [volume] (Paulding, Miss.) 1837-1863, 1858-12-04
~ OrIr.N. 40 Iacksov RAlRoAn.

Nav ORIrANs AND Jackson RAILROAD.
The New Orleans Directors Of this comra-
ny have recently made their annual Re
port 10 the city Government and they
represent its affairs a. being in a most sat-
isfactory condition. Tho report j. long,
and Of course it !. not expected that We
should publish IL in our columns. But ~
many Of our reader. reside within the
section Of country which uses the road, o.
summary oftbc report will prove very ap-
propriatc. After referring 90 the happy
results that have followed the extension
Of the road by which communication
were effected with all the great lines 20
the North, West and E1st. the report re-
fcrs Co the embarrassed condition Of the
finances Of the Company at the time the
forward movement was made. The stock
ofthe Company was offered at 80 per cent.
discount. and the debt of the Company
with no prospect Of aid from the city or
State. was sl.333.73l ~. Suits had been
commenced against the Company Tor two
hundred thousand dollars The Compa-
ny seemed to BE- on the verge ofthc bank
ruptcy predicted %. the conscpucuccof o.
persistence in the policy Of extension
Tho new Directory Immediately ON enter
ing upon their dutir~. resolved to di~cm-
harrass the Company of oll it, debts
Most iudicious settlements were madr
through J. X. Elrcc. Esq, with their for
eian creditors. and the Directory scttlcd
with the domestic ones. Then tx lrrc-
tory adopted a new policy Of settling the
bonds. instead of making short loans and
creating floating debt The bond, were
readily sold Mt favorable prices to the citi-
lens Of New Orleans Tho whole floating
debt at this time is hut S22l ,S23.I !. which.
were IL to the interest of the Company.
could nt once De- redeemed. Besides this
floating debit the Company has issued
2, 400 first mortgage bonds for $1,000 each.
az 80 ycars, bearing $ per cent. interest,"
This policy restored the credit Of the
Company. which had previously been very
low. A list Of freight receipts is then Civ
EN-. which exhibits a wonderful increase OF
business on the road. From the lSt OF
september last, the monthly receipts from
this source, compared with those Of last
year. have trcblcd for the first month,
quaduipled for the second. and quintupled
for the third month. The amounts for
the month Of October vcre for 1857. SlI,.
j7422; for ls5S. ST. ,2Sj 81. The pas.cn.
ger fare has increased ut q still greater ra
ito. Besides, the company receives S42,.
600 for carrying the mail. and will, after
the lst Of July, 1859. receive $4,000 per
annum.
Tho estimated receipts for this year
from all sources, are SlOOO,OOO. When
the connections are completed through
Tennessee, the receipts will rise to =. OoO,
900 The resources Of the Country pen
etpted by this road just begin 20 be up
prcciated. Land are rapidly advancing
500 and 1000 per cent. ON the line Of IA,
road. Tho way business is rapidly in
croasing. Two passenger trains. cvcniu.
and morning, now start from each end o.
the road
Tho report then proceeds o. vindicat,
the policy Of extension against the obicc
lions, that were urged at the last election
of Directors
The Company having now redeemed IL.
plolrc and arranged lbs floating debt. ha
placed twcnty-six miles of the work bee
You'd Canton under contract, tho partic
agreeing to depend Tor their payment ol
the money subscription raised in Mi--i.
sippi