New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-04-14

footing with Mississippi in the elections for Director
saying nothing about the right of New Orleans
stand upon an equal or superior footing with eithe
: Thus il viii be that the Legislature OF Louis
lana chartered this Company to build Railroad fror
New Orleans by the way Of jackson, In Mississippi
through Mississippi to some point on the line Q
boundary separating the State Of Mississippi iron
the States OF Tennessee and Alabama and after elat
crate surveys OF all the routes proposed, the Com
pany determined upon the route through the City o
jackson, ana from Canton to Aberdeen, and theme
TO the Tennessee river
In the very able reports OF the President OF tn
Company, IN 1888 and 1884, ne speaks OF the entir
completion Of the line OF road to the Tennessee rive
within three years consummation, he says, OF les
importance 70 the interests OF the Stockhoders thai
% those we all have IN common with measures tina
vii hasten and accelerate the commercial progress
the state and City and be, In concluding his nrs
annual report, truthfully and eoquenty asserts, in
view Of the construction of the road to the Tennessee
river, that the streets OF our city will be ed at all
seasons with the citizens Of half the States IN the
Confederacy" Our tables will he supplied with the
choicest productions Of regions Astounding in album
dance and plenty
And To secure these great blessings we should
persevere BY every dictate OF interest," every sentiment
of honor, and every injunction OF PATRIOTISM.
In the second annual report the same views are
again expressed and forciby urged in that report 1t
is said The connections which the road will have
on its completion to the Tennessee river, "wll estab
fish its advantages secure against rivalry over all
Others, as grand trunk line, and become tributaries
that will augment immensely its receipts which, as an
element In the value oil railroad property is Of the
highest Importance" Further, it is asserted, that
with railroad communication to the Tennessee river,
$ New Orleans can defy all competition OF rivalry for
the trade which naturally and legtmately belongs to
her. Every road constructed and to be constructed,
east OF the Mississippi and Ohio rivers, will become
The tributary OF such an Improvement, and no con-
trivance can divert or prevent this result"
Under this state OF feeling, and in the presence Of
these solemn facts, the State OF Mississippi, after
having already granted the right OF way and other
extraordinary privileges became herself interested in
TINS road.
by act OF the Legislature OF that State, approved
March ID 1854, entitled An Act to aid in the con-
structlon oil the New Orleans, jackson and Great
Northern Railroad in the State OF Mississippi and for
other purposes 1t is provided that onethird part Of
the money in the treasury and which may come into
the treasury, as contemplated by the Act to the credit
Of the Internal Improvement Fund, is given for the
construction Of the N o., jackson and G. N. Railroad
TO aid in the construction of the road from the
louisiana State line to the town of Canton, and one
third part in aid OF the n o., jackson and G. N.
Railroad north Of Canton TO The Tennessee rirer
Underline provisions OF this law Of Mississippi, the
Company has received $4,000, and the whole
amount has been expended south of Canton.
The act above, last referred to, provides that there
shall be deposited, to an amount equal to the amount
gwen certificates OF stock in the Company, in the
name Of the State Of mississippi and that the Gov
ernor OF the State shall represent the State as a
stockhoder to the extent Of the stock subscribed for
In addition to the S4i4'000 received from the
state Of Mississippi under the provisions OF the act
above referred to, the sum of $ls5000 has been re-
ceiyed by the Company from the Chickasaw School
Fund Of that STATE under the provisions OF an Act of
the Legislature, approved january %, 1851 it being
expressly conditioned that the money appropriated
by that Act should be all expended north of Canton.
mol one dollar oil ths amount has been so expended.
IN 1891 the Legislature oil mississippi passed an
Act 10 lend the n. o. Jackson and G. N. Railroad
company, money out Of tne iund called " The Three
per cent. fuhd' on eohaltlon that the amount
loaned should De expended north oil Canton. $4,000
mas been received py the Company on account of
TINS loan not one dollar Of It has been expended,
however, nor1n OF canton.
Inc gross amount received by the N o., jackson
and .. N. railroad Company, IN cash, to this date.
from the several appropriations made by the Legis-
azure o. lne S'a'e OF mississippi Is s6l9OOO, OF
whch SflzVoV was appropriated on condition that
u snou'u Dc expended nof'h OF CanIon-not one dol
lar o. wn,cn mas Deen so EXPENDED.
No.wllns.anoing tne iact That the Company is
oounu ~ 'ne Jaws Oh Louisiana ana oil Mississippi
TO carry the road through Mississippi by March, 1892
Or forfeit its franchises in that State, and without
gard 10 the liability OF the Company, in good faith,
10 carry the road forward as rapidly as the condition
of their affairs viii admit After having received
rom that State large sums OF money, on certain
llllons' and mlsapplled them-sums OF money ex-
pressy appropriated by that state, in good faith in
'ruer 70 enable tne Company 70 prosecute her work
'n tne ine Oh route determined and always intended
% DC pursued north Oh Canton towards Aberdeen
veh alter repeated declarations OF the intention Of
me Board Of Directors to so prosecute the work. and
ict IN good iaith IL now appears that an unaccount
aoie ana sudden change mas taken place IN the views
q the s1ockholdes Ut - said that portion holding
me largest number oil shares y and it is well under
1000 mat II they be permitted to obtain the control
d the management OF the Company, the solemn en-
Placements entered INTO with Mississp will be
oroken' ana state oil ieelng produced ieh will
hnD afA aNA aaNN Hal