New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-03-25
SOUTHERN PACIFIC RAILROAD Govt
a PANX.


On the 18th of February last pursuant 70 notice
previously given through the medium o. the petite
press the Directory Of the Southern Pacific Railroad
Company sold at auction a large amount OF stock
upou which installments remained due and unpaid.
This sale was alike necessary and proper for more
than one reason The delinquent stockholders bad
no iust claim to further indulgence, which would
work to the detriment Of the paying stockholders,
and the debts Of the Company could not be paid
without available means, nor the great enterprise be
made to progress as it properly should. These facts
are, in themselves and without further explanation,
amply sufficient TO justify the action of the Board Of
Directors
But, in order that there might be no reasonable
grounds for complaint, on the part Of delinquent
stockholders, and to enable them to redeem their
stock if they saw fit, the Secretary Of the Company
has been directed to inform such stockholders that
the purchasers Of stock sold by this Company on the
18th Of February last, have agreed to allow the
former the privilege Of redeeming the same,
by paying the installments due, until the 10th OF
April next and be is further directed to say that
all stock not redeemed by that date will be trans
ferred on the books of the Company to the pur-
chasers thereof This Is about as fair propostlon
the circumstances taken into consideration as any
reasonable man could desire.
II makes no difference to the Company whether the
old stockhoders redeem their stock not, whether
the new owners pay the money on the instalments
dae. The Company want the money, and It is, con-
seduently, of little moment from which source it
comes from, so they get it. Still, to avoid the slight
est appearance Of uniarness, the offer above mem
toned Is held out to those stockholders who have
been derelict in meeting their obligations. This lat
ter class would do well to avail themselves Of it with
out delay for they will thereby not only what
they have already paid but become part owners of
mighty work which will reimburse them ten-fold in
the long run As the class Of stockholders referred
to are scattered all over the Unon and each jour
nal may have among its subscribers a number of
such stockholders, we would suggest to each and all
Of our newspaper contemporaries that they spread the
facts of the case before their readersat early day
as practicable. 1t may enable many of their patrons
to redeem stock which must Ultimately become valu-
able and them from actual loss, besides circu-
lating abroad valuable information respecting an i'm
portant matter.
One word as to the prospects Of this Company.
The rights OF the corporation are secured aud the
Texas charter, with all its magnificent endowments,
saved. The road is progressing. Its course is on
ward Friends continually coming to its support.
Besides, it is great Southern work. Threefiths Of
the stock is held in the South. This Is desderatum
not to be despised And as the stupendous land do
nation Of Texas secures the completion of eight hum
dred miles OF the road its successful completion can
hardly be set down as problematicaL