New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-09-20
VOLUME XII.
sourHlRN PACIFIC RAILROAD.

We publish the following article from the Marshall |
(Texas) Republican OF the 10th inst, with much sat-
sfactiou. and have doubt our readers will peruse
II with pleasure. At last, it seems quite clear, the
obstacles which have 80 long obstruced the progress
Of the greatest railroad enterprise of the age are
finally and completely removed, and the future is full
OF substantial promise. Freed from embarrassment,
and under successful headway, as it will be in short
time, the enormous advantages this road possesses
will become more than ever apparent to the public,
and the stupendous value OF its franchises will be
fully appreciated all of which will tend to render its
stock the most desirable in the market. But to the
Marshall Republicans article:
The Southern Pacific Railroad was sold, on Tues
day last, under execution, and purchased by Gen. H.
" Richardson and associates. This sale and pur'
chase rids the enterprise of the clogs and disabilities
to its success which existed, and which have sus
pended the progress Of the work. The enterprise IS
freed from all contracts and every weight and every
deadhead."
| The adjustment Of the difficulties between what is
known as the Old Company" represented BY D.;
Fowlkes, as President, and the New Company
represented by L. P Grant as President are progress
| sing satisfactorily to all parties Entire 1nanmlty
| of feeling and understanding exists, and IN good
| faith the whole arrangements will be consummated
| within the next day or 30.
DR.. Fowlkea has made bis payment as ealed 10.
under the compromise of the 9th of April last, and
| has deposited sufficient means to cover and extln
guist the entire Indebtedness Of the Old Company in
Texas. He is actively engaged in settling all and
every transaction open, nnnqa'oa.eoi .. oae IJs H
seeks to free the company, and has abundant means
TO do so and people, the creditors and claim
ants are giving him every assistance in their power.
| The State suit will be dismissed and the fullest
sanction given to the efforts of DR.. Fowkes for the
freedom o the enterprise and the protection of stock
, holders of the road, which can be impaired by the
laws Of the State Stockholders, therefore, who bave
contributed their to aid in the freedom OF the
enterprise may rely upon full protection.
final settlement of matters in Texas accom-
plished. to the satisfaction of all parties unioI
between this company and the Memphis and Ell Pase
| company will be made The interests OF all partle
demands such union, and therefore ensures the re
suit.
\ final settlement, to elect j. Edgar thompson Pres
s dent before DR.. Fowlkes leaves Texas; but he doe
moi accept until the settlements are finally compile
r ted, This can be speedily done. DR.. Fowlkes BIT
. lives that within thirty days from the time ne ca
leave Texas, he can meet the terms reqnrea . py ~
r Thompson, and secure his acceptance OF the Pres
l dency This will present new era 10 this ente
$ prise. Mr.. Thompson has the reputation OF oein
The first railroad in the Union. He brings to ID
company an enlarged experience n'egrmy' vSan. s m
d sent TO him hearty and cordial welcome and faci
y tate him by all reasonable and proper legislation.
n possible, Mr.. Thompson will visit Texas, and prese
j. 10 the ensuing Legislature such suggestions OF wn
notifications he deems essential to this railroad IL
m proyement. Ill, -o.,,,,o i.
70 DR.. Fowlkes, before ne leaves heIe' VIII RESUME
r work upon the road, and complete at an early q
e. the next section of twenty-five miles. We learn tn
he has already purchased the iron, locomotives, et
is. for this portion of the work. =
&C. with the dead weight cut off, the company II
from debt, and its property, at fair cash vauatl
greater than the stock issued it will present te
for capital and enterprise such as cannot be ion
We in any other railroad enterprise in the world and
be the reason that there is no other public work p
,a sessed of such munfcent franchise and fair pr
pt poets for future endowments.
ed DIR. Fowlkes will shortly issue we understand,
M address to the Stockholders and the public, prese
s ing in detail the facts connected with the condition
BILE the enterprise its prospects, and what he designs
in. | accomnlish.