The Opelousas patriot. [volume] (Opelousas, Parish of St. Landry, La.) 1855-1863, 1859-03-12
and is a brie.

20 to keep the public advised Of the
sgress and condition Of an enterprise Of SO
great importance 10 this whole section Of
country as the y. O. & G. w. R. Road.
After referring to the very fall report Of las;
year, the present goes or to state, that tse
hopes entertained : the Board a year ~, Of
raising funds ST mt, from the sale of the
mortgage bonf the company, to complete
the road from wick's Bay. It's present ter
minus west to the Sabine, were cut OFF by the
food Of the spring Of 1858, which withou,
doing any seriofs injury to The track, inter
rapted operations On that portion Of the road,
lying between A!giers and The Byou Iafourche:
that although it was well known by the Board,
from actual inspection, that little or no injury
had been sustained by the track from the
walters by which it was submerged, in the
portion above alluded tn; yet a contrary i'm,
preston prevailed il the minds Of the public,
and il was deemed utterly useless III conse.
1nencc, to attempt TO sell the bonds Of the
company, until the regular business Of the road
should be resumed. But during this slspen-
sion of the active operations Of the road, large
claims against it We're maturing. aud 500, 600,
OF wages Of lat3rers Oh the road fell due at the
time, that, the Bell and I.abranche crevasses
occurred. The members Of the Board inter
posed their Individual guarantees aud relieved
the company from the immediate pressure Of
this claim. they also managed to postpone
ethan 1,lt. tha4 G1f No. ~ 20 .Isl4 i 444
since been paid Of. and the Indebtedness Of
company, which at the date Of the last Annnal
Report amounted to ss75o,ooo, has bue,, re.
duced to $4,000.
Tie Board has not lost sight of the great i'm.
p%ortance, says The Report, OF pushing the road
vigorously OH to The Sabine, and have deter
mined to withdraw the mortgage bonds issued
IN June 1857, none Of which have been sold,
for causes above mentioned, aud to issue new
ones at 20 to 80 years, which are now being
prepared.
TM distance from Berwick's Bay, The pres
ent western terminus of the road, to the Sabine,
the point at which our road is to interscct with
the Texas roads, is l7a miles. The whole line
OF this distance has been staked out, the cross
ing at the river fixed, lands for depots entered
and nothing now remains, bat to raise the
I ends for carrying ont The original design of
connecting NewOrleans with the growing
State Of Texas, and ultimately the Pacific
States, by a continuous railread.
In o few words the condition of The road is
thls,--sfe realized portion of its capital is ex-
pended, the floating and mortgage debts to-
gether, amount to $4,000, but the arrears
Of stock aud tax subscriptions, together with
the quota due the company by the State, some
realiestate, aud the nett earnings of the road,
are sufficient, say the President and Directors
70 eXtinguish the greater portion Of it's present
liabilities.
for continuing the construction Of The road
70 the Sabine, S~2,Oo0.0G0 are to be raised by
the bonds Of ~tle-eompahy secured BY mortgage
On tina, portion Of the road already built, md
by. sales Of land between Neworleans and
0pelousas.
For the purpose Of e~xtingpishing the interest
that may accrue on the bonds, monthly de-
posts IN bank are to be made for that purpose
exclusively, and for ny redemption of the
bonds, q sinking fund to be created from tie
sales Of the 100000 ,res o II Am hriot1g III
70 the company asa Ing beyond Opelousas.
1he btFsiuess 81 The road ii seems has gone
on Increasing since The commencement of its
operations to the present time ; as will appear
from the ,abss'7b below prepared by the Vice
President. of the road,