The Opelousas patriot. [volume] (Opelousas, Parish of St. Landry, La.) 1855-1863, 1859-11-12
The New Orlcnns, Opelousas aud Grcnt
Western Rallropd.

The New Orlcans, OpeIous.,s aud Grcn,
Western railroad.
The Opelonsas Railroad Company have de.
cided on an active prosecution Of the work on
their road beyond Berwick.s BAY. its present
terminus. They have accordingly issued the
notice, which will be found in this paper, for
an offer to purchase their bonds for 81, 100000,
The proceeds Of the sale are to be applied to
the paying of Of the floating debt, and the
construction of the road between Berwick $
Bay and Opelousas, a distance of IS miles.
For these purposes the sum asked for is deemed
to be ample, and We are informed that con-
tracts for. the work can be made at this time
on very favorable terms.
Inc provision made for the security of the
debt, the puEctual payment of the interest and
the redemption Of the bonds, is such as to in
vite the competition Of capitalists. The bonds
are to be secured by first mortgage on the
completed division Of the road, extending
eighty miles between NewOrleans and Berr.
wicks Bay, with all the franchises, stock and
properties.
This is, in all respects, an independk mt as
well as complete road by itself. Ii is 81 sue.
cessful neutrality-suspicious. a lareyFeyeuue
reaching from the city Of NewOrleans IN
Berwick's Bay, where there is a connection
established by tri-weekly steamships with Gal
weston, which already enjoys a large share Of
the travel. 1t is already a ~selfsupporting road,
with an assured revenue. sufficient to be abun-
liant security for the payment Of this interest,
and, as an independent road, is ample security
Tor the capital. 1t can be worked separately
aud proftably without any additional ex,e,i.
sion; but every mile of addition Ito which
these funds will be appropriated will augment
Its income aud add to its profits.
The punctnal payment Of interest by the
company is to be provided for by monthly de-
posts, to be made with the Louisiana State
Bank. These deposits can only he withdrawn
on presentation of the coupons of the bonds,
The company has no further power o, er them,
0 the principal, the company arrangcs TO
create a sinking fund. by the deposit with the
same bank, beginning in 1866. of Ss4. 600. In
monthly payments. at dates specified, and The
same sum annually thereafter, as a sinking
fund, which will be sufficient to extingnish the
whole debt at maturity. This principal sum
ia to be held as q deposit on the same terms
as the annual deposit for interest, and Is in the
like manner beyond the control of the com.
pany. -
These make a contract beyond the security
OF the road for both interest and princinai
which is as strong as it eau be made-amnle
at the beginning and continually Increasing
This, with the high rate Of interest-eipht ner
cent.-onght to make these bonds sought FIR
as q safe investment by capitalists.
The investment being secure and profitable
there are other inducements which should i'm.
pei our citizens to take these bods promntly
in the vast Importance of this road to he
Of NewOrleans, the fine and productive
regions to which it will give a marke, at once
onr city. thus inviting population, ~increas-
ing the value OF property, and by Consequence
reducing public burdens by the large addition
taxable objects and the productivepess Of
tue revenues. Every man interested in Tho
growth OF the city should feel an interest more
than that OF q capitalist seeking a good nat
centage for his money, in the opening Of ave.
hues Of commerce to the interior Of Tho s,a,e
and pushing forward this road to consumma.
lion Of the great object Of its friends, making
i the great trunk Of intercourse with the fer,
Tile regions of Texas. and connecting il with
he railroad enterprises which are seeking their
way through the Southern routes ria Texas tn
the Pacific coast.
The distance from Berwick.s Bay II On
!ousas 10 placed at IS miles. The whole rn.a
rom this city will then be l65 miles II leno,h
and will ran through the richest and most fsr'
tIle portion Of our State, and which. when M
'oad il completed, will witness q yerv an;S
'dyance in population and wealth.
Beyond Opelonsas, the distance by the s,r
route Is d miles to the Sabine river.