The Texas Republican. [volume] (Marshall, Tex.) 1849-1869, 1858-09-02
IA J. NJ SAUNDERS

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4 l-t That the new company is not TO
boz held responsible fr he acts Of the
old. They are answeablc a. he com
tends, ouly for tleif conduct after their
organization, subsequent 90 the SAL"
Ia answer 10 ibis. 10 j. only necessary
To refer TO the fact that the leading NOM
bers Of the new company were The direc-
tors, officers agents. ami contractors IN
der the oll organization. They were the
benoac.slics undci the deed Of trust, and
hal the property sold f5rthrir own adyan.
tagc. and are " course responsihlfJr the
aanuer Ia which il was advertised and the
snle conducted It's rs very petty thing -
talk ab9utaue company.andb 0gus stock
which l. 20 be all rubbed out and a new
advent ol things to be introduced But
we would ask, how did the majority ot
those holding stock ia the NOW company
acquire ity How much money was paid
for ~ And If nothing bat bona tiie
stock should be- recognized. IN what light
will theirs be considered ~ develop
u.euis taye been made ia relation 10 the
management 1T the Southern faciiir Rail-
road Company which were NOT known
twelve months ago. Yet who ever heard
these gcnllcnrn whu are now 50 voclit-
ruus abeut the dead weight on ihc obi
company. utter the slightest Complaints
while lhey we're connected with rs msu-
arcmcnt
2ni. II is assumed that the property
was sold to pay The lebts Of the compa-
ny; that These creditors were entitled to
,hcir mlnrv; that ,hcy are our neiehbors
aud apubly entitled, therefore, 10 our
sinalg regard and -ympathie-.
VIA n saunders contend dat all tho
alaims were metitorious. ar that the sale
wa. intended to pay themy II 50, why
b. 70 tbat they have not heonpaia Had
the managers lwhU were the purchasers
intended to make the property bring its
aq'd value, why is il that they did not
advertise the sale Tor ninety days in the
principal cities VI the tnionf Why
did they enter into combination At the
timc If sale 70 Dive N bidders
It is a not rIeus fact. that beyond the
pntry sum rcalized on the day Of rale
and which was very uuequally distribn-
ted, the Texas debts have not been paid,
and the creditors are ia far WORSE cand
iIon than before de sale
3ri The next and perhaps the MOST
extraordinary absorption 81 our flu3
is that 10 was the intention Of the new
Company from the beginning 10 rccog
nixr al the boaa fde stock II the old
Company, We trust that he will excusy
us for being incretui,us, since some IT
the lcadlug members If the new Com
PAM have made 30 bones # declaring
publicly the reverse. Il is well under
stood in This community that the original
design was to'cxciado all stockh4ldor-
but il was subsequently determined, as
a matter If policy, 10 build up home
influence Ia admit those residing IA Tex
as We know there was an original
paper signed sealed and delivered
which provided ilint il any OF the sign
crs bought the property, which 1t was as
serted they intended to do, thcn al bona
FILE stockholders were to be admitted
But they obviatod this by getting an
outsider aud no less parsonage than
our friend the Doctor himself 10 buy the
property. It there were not direct and
positive evidence as to their intentions
this would boo sufficient
IL gives rs great pleasure to support
eur ueighhors when We can do So CON
scientiously. and it is greatly 20 our pe-
cmiary advantage 20 do 50 at al times,
but when they e. ,o Gar astroy and so
widely al variance with theiF true in
ierests as they seem 20 US in THE lraps-
action we must beg respectfully to be
excused.
The balance Of our friends article,
with due Difference % him scarcely re-
qoucs further reply Having discount
t,uanced tie acknowledgement and iui-
guities of tie Old organizations and hay-
ing nothing 90 rccam or qualify Of what
we have ever written, we clunot perceive
how we are 10 be held responsible for
them And if Dr. fuwlkes was not
Director ~ officer, under the old organi.
cation, and d.l nothing worse than en-
deavor to pay oir the debts of tie CON
Germ, we think it will be- difficult to sad
de the blame upon him, At the expense
anl TO the delgh, Of the officer, who
are now in command Of the new
company.
We have shown, ~ we think, in
previous editorial that the money raised
under the deed of trust cut but Il poor
figure ia saving ,he charter The bonus
Of 100000 to two gentlemen of this