New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-04-30
NEW ORLEANS, oPELoUsAs AND GREAT
WESTERN RAILROAD COMPANY.

i
4 The Seventh Annual Report Of the President and
Directors Of the New Orleans, Opelousas and Great
Western Railroad Company just issued exhibits that
since the date Of the last previous report 100000
then due construction account and all of the post
poned debts Of the Company have been paid off and
the Indebtedness reduced from $3.50 900 to $40 00O
Notwithstanding the interruptions of the business of
the road for nearly six months Of the year by Gre
vases its gross earnings were s225,577 %, while
those Of the year 1857, through which the business
was uninterrupted, were s2s4l77 81 = statistics
which indicate that but for the disastrous overflow
the receipts Of the last year would have very greatly
exceeded those of the preceding they did those Of
| 1856.
/ The crevasse calamities which SO UNEXPECTEDLY
overlook the Company following on the nancial
troubles Of the winter of 1857 and 1885, of course
terfered with negotiations for the sale of bonds and
the Company, earnestly DESTROYS of pushing the road
on beyond its present stopping place at Berwick's
Bay, have determined to withdraw the bonds issued
| in June, 1857, of which have been sold and to
issue Others at from twenty to thirty years. and these
are now being prepared To the work of the imme-
date continuance of the road to the Texas line the
Directors propose to devote their best energies and
untrng attention, not dsheartened by the succession
of mishaps and Instructions which have beset the
enterprise from its very inception. They are now at
the Atchafalaya, with the road in full operation from
the city, debt greatly reduced and an undoubted
credit; before them are one hundred and seventy
eight miles of road to he built to the Sabine river
through country emnently favorable to railway
construction and which will yield quick returns in
the way of business. The whole line is staked out,
the crossing of the Sabine fixed and the lands entered
for depots, and nothing remains to be done but to
raise the for accomplishing the great object of
the charters continuous line Of railroad from New
Orleans to Texas.
The 50 100000 requisite is to be raised on the
bonds of the Company, secured by first mortgage on
the complete and separate first grand division of the
road, terminating at Berwck's Bay, and on sales Of
lands between New Orleans and Opelousas the pune
tua payment Of the interest the bonds to be pro
vided by special monthly deposits in bank, secured
against withdrawal for any other purpose whatever,
and from sales of the lands beyond Opelousas (about
five hundred thousand acres) sinking fund is to be
established for the final redemption OF the bonds and
consequent discharge of the mortgage These securi
ties are so safe and unexceponable that the Company
may well be inspired with confident hope of the sue.
Of their negotiations, and the public of Texas of
New Orleans and the intermediate country nav look
forward to early realization of the scheme of OMEN
81 ueslIaDie means
accommodation with the city and the rich interior of
Texas and Western Louisiana. Without contempa.
ting the grand Interior object which makes this road
the first sectional link in the continuous chain of rail
way by the most eligible route to the Pacific, its more
immediate benefits are sufficient to recommend its
construction as of the first importance to New Or.
leans, opening, as it does, channel for the great
trade of Texas to find an exit to this commercial
center.
The report of Chief Engineer G. W. R. Bayley,
upon the line beyond the Sabine made to the Presi.
dent of the Company VIM G. Hewes, ESQ., on the
18th of January last, states that he had located
staked out and established the track for distance of
nine miles beyond the river to point OF junction
with the Sabine and Rio Grande Railroad at the town
of Burkesvie, Texas. He acted in concert with Col
Duff c. Green, agent and representative of the above
Company, and every natural aspect of the river and
Sabine valley found to be emin emily favorable to
the location selected. He congratuates the directory
upon the promise of largely Increased business
the road reaches the Sabine, which is naviga
BILE for several hundred miles above the point of in
tersection. There are several steamers now plying
it, among them the Cora formerly Red river packet.
It traverses richly productive and already quite
populous portion Of Northeastern Texas and its COM
merce is of great and constantly increasing import.
ance.
The whole report and documents present the con,
dtion and prospects of the Company in light highly
gratifying to stockholders and the friends of progress
generally. and basing calculation upon snch data
we may predict that another years exhibit will indi.
cate results exceeding those which reasonably san
guine anticipations now promise
ToRNApo.-The Owen County (Ta) Journal states
that the heaviest tornado ever experienced in that
section visited Spencer on the 18th inst In the west
ern part Of the town frame house belonging to Mr.
Raider, was raised from its foundation and carried five
Or six feet by the wind. The wife and children of
Mr. RAIDER were in the house at the time, hut fortu
nateiy escaped without injury. number of stables
aha oatenidings and fruit trees were blown down
os OIL the fences were blown down and carried away