New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-05-02

reced enough of our five cent. stock to be sold to
produce one million and half dollars, to free us
from debt and procure labor to construct the road
As our stockholders have borne the heat and the
burden Of this enterprise though comparatively light
on each, we offer the stock first to them, and give
them the preference of taking 1t for ninety days. II
they do not want IT, then turn to the capital OF the
nation; make exhibit of onr affairs; show 1t our
prospects, property and our great privileges and
ask 1t to rest with us We beve 1t is only necessary
to give the invitation and afford the opportunity.
When we have raised the desired amount our STOCK
will be three millions of dollars; and our property
will be worth more, because we shall have not only
the means to pay our present debts, now not exceed
ing three hundred and sixty thousand dollars but We
shall have the property of the Company the bal.
ance OF the money thus produced, which as stated
elsewhere, is to be invested in slave abor-enough
to perform the unsklled labor of the road leaving
the Company to provide otherwise only for the skilled
labor, iron and rolling stock.
Congressional Aid.
We beg to call your notice to our prospects Tor OBJ
tanning Congressional aid, by means of mail con-
tracts ETC., contract to build road to the Pa.
cfc ocean.
There is no longer any doubt in the public mind as
to the practicabilty Of constructing railroad along
the parallel of So to the Pacific ocean. What was
regarded six years ago as chmera of the BRAIN has
become an emnently feasible project The nation must
have Pacific railroad private, public, political and
national considerations demand it. The action of the
last Congress demonstrated the growth and maturity
| of public sentiment upon this subject While Mr.
| W.
cognzed the necessity and practcabty of such
road, not respectable effort was made anywhere
against such a connection. The only questions of
dispute were as to terminal points, and character of
| aid to be given by the Federal Government. While
line of road to the Pacific stands out preemineny
favored by nature in all the elements of grand
enterprise, it can afford not to be contracted in its
views. If there should be even three roads fostered
by the Federal Government ours must be one il one
is to be provided for, must be that one. Stand
ing on sure ground in any event, we afford to be
liberal in our course. We assured by undoubed
authority, that is expected and desired that bids
| shall be presented to the next Congress to build
railroad to the Pacific ocean, upon the various routes.
| Our company should file bid for road along and
in extension of our line to the Pacific These
bids will have much to do in settling in very prac-
tca mode, the comparative cost of the contending
routes. We have the shortest line, the best eli
mate, and the most productive belt of country on
the continent, extending east and west. Along our
line we have wood and water more abundantly
than on any other projected line We have neither
the snow storm of the North nor the burning winds
OF the South. On our route nature has spread ont
her fertile valleys, and tables emboweled with the
treasures of COAL ron stones and the precious metals
overspread with gorgeous carpet Of grass, frnged
with forests of timber. Where the Cordilleras cross
path nature has broken them down for us to pass
their otherwise impossible nights. We shall not
have to perforate single mountain with tunnel.
Our grades will be easy and we can build one thou
sand miles OF road on our line without doing little
more than to level the track, with dirt thrown
ont Of the side bitches We pass through the middle
of the great cotton growing belt of the world cana
bic of sustaining a thriving and vigorous population
wealthy IN all the elements of prosperity; thus be-
coming the sustaining and supplying sources of our
road. The way freghts and travel will make it
paying road to say nothing of the through travel and
freghs, and Government service in the way OF mail
contracts. the transportation of troops and munitions
OF war. In any shape the Government may see pro,
per to aid in the construction Of the great national
railroad to the Pacific, must be participants. If
by land grants or loan of national credits or graran
tee of interest or profits, by contract we can az
ford to build the road for less than any other associa
ten Of capitalists along any other line can by any
possibility build such road. What wonid be ma pui.
fcent aid to would utterly fail to Others along any
other route! There can be no Just conflict in our
Judgment, between our ronte and any other to the
on the Pacific, at the Gulf of California, at Fort |
1ouma and at the Eastern end at the same time. so
that with reasonable Government aid we can bnild |
the whole road in shorter period than on any other
route.
Conclusion. |
The company, it will he seen, must have money
promptly to comply with the terms OF the comnromse
freeing from debt and progressing with the work
one is the loan and the other is the sale Of the reduced
forfeited and surrendered stock. Every stakeholder
must make the loan of a surrender, under our new
policy 1t Is our duty to spread our before You;
20 invite you to respond to the plan adopted for the re-
et OF our enterprise. 1t is your interest and duty to
respond II some stockholders will not we who will
must dissolve our connection with all who refuse: not
oy submitting to common ruin but by cntting all
slch OH as dead weight. by simple easy and direct
process. We have the power to do it. Those who
contribute demand it and the officers have no alter.
native left but ohedience This policy and its rigid
enforcement are not matter of choice but necessity
IL must not he regarded as Mreut, but q fyiendlu
earning While we desire the cooperation of every
and united effort III make the task to be
performed lighter still no one stakeholder or class or
set of stockholders at any one place is indisnens,hle
0urst hold
numerous and scattered in every State of the Union
those OF any State can build The road If thew will
Vlth the grants OF land and loan Of money by
Texas We do not desire to keep alive the GOALS If
ire which elimination and recriminaton heretofore
AVE made to consume us well-nigh much less do
We want to indulge in chickering's and .nature for
ne future. We have buried the tomahawk, and there
snail remain, unless Others dig it nd. 1t is the
uty OF all to convert the sword into the plowshare-
he spear into the pruning hook and let the imple.
nents Of warfare for the future lie the shovel and the
''ck. Let there be united and harmonious action
aVorltsm to none, but justice to all in the admins
ration OF its afars Ny official connection with this
company has grown out of its troubles and when
hey are finally settled and the affairs can be placed
oe.ter hands It is my desire that it shall be DONE
Z IS impossible for me to remain here to receive your
as must go to other places to confer
With other stockholders shall therefore, appoint
m agent mere to receive your contributions and re-
'elpt you Tor the zane : which will be made known
o you in due time. Whatever action you take. must
'e done promptly as good faith and interest require
ls to act promptly in carrying out the spirit letter
'nd intent OF the compromise which the strongest
members or the New Company are doing here and |
elsewhere, we are proud to acknowledge and in A
pir OF zeal as well good faith and active effort.
summary S4tebemt Of dic Condition Of NE southern pg6c
Rairoad N!npany after nabing Compromise at MARSHALL
Teras, APrH6, 1859. /
STOCK LIABILITIES, |.
This item cludes stock issued 10 sub
hers for cash, and upon which in
salnrntS have been pad. and also the |,
st ok donated for services and acrruing
interest thereon There frures not
given as precisely correct, but are sub
stantinllv
took issued ms cn'lstaral security for mo-
neys borroweHior the eompany...... 10000
2 4s s,9ck naohiies. s3fSON0
duce and change in firm and manner |
70 lowi | {
Ry the surrender to the company Of
sock which SIS per share has
been paid ting ............ SsO1GeO
b. forfeited ocF, upnr which about
81 5O share has been raid. and
which has been forfeited for non,pay-
ruent of Subsequent calls and install.
ments, about, .,.......... 5O0Ol1
the 500 90 cash deb and for which
thu stock o' the company is held as
coaterh security to The amount off,. 4So099--1 1900
9 rr ,tofk - y. s.si s2,noW)
policy, one-hatf, s1y,........,........ I1rn ono
S 9th S, n 1n q, cono Do,tsy sl0oMo
mise made. 4hout ...........,,. sfn tao | S
This item includes the $50 lGO for ''''V :
which the SiS 900 of stock Is Ivpotfe-
Gated. The figures presented
than 4pF nr,pttJ biIfi n,,nr L.