New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-02-03
NEW ORLEANS. oPELDUSAS AND GREAT
WESTERN RAILROAD


The eighth annual report to the stockholders Of
The New Orleans, Opelonsas and Great Western
Railroad Company, shows the enterprise 10 be III
condition, The natural result OF it's sound
merits and Of the wise cautious and careful man
agement Of Its afniirs. The earnings Of tile road
steadily increase, though the business Is yet limited
10 the short eighty miles Of finished track between
Agsrs and BerWick's Bay The actual receipts
for about ten months were 1870 ,D62 Sc. a loss Of
nearly two months business was caused by ere
vase on Bayou Lafourche, but for which tile earn
ings would have amounted to near $3.50, 900. The
trnck has been raised and the road thus secured
against disasters by erevasses in future The bonds
Of the Company issued ii June, 1857, have been
cancelled, and new issue made payable in Thirty
years, three hundred and fifty of which bonds had
heen soldHp to December aIst, 1859, and much
larger amount would have been disposed of but for
the European war pulling d stop to negotiations
after i hundred Of the bonds had been sold.
Tie company has determined to sell sneh Of
their Gretna property az is not required FOR
business purposes TO pay of q mortgage loan
thereon Of sa5,000, and the floating debt is in pro-
cess of rapid reduction On the 3Isf oil Dec, 1857,
the floating debt was s723 ,0o0 and at the date Of
this report it i but s2s 900 and will be materially
reduced In February instant. When the floating
debt il paid off, and il ii intended to do it as soon
as possible, and il Will be very soon at The rate
of reduction aboge noted, there will remain re-.
sources, from the sale Of bonds and ether assets,
sufficient to complete the road to 0pelousas. Il
contract has already been made for the efnbank.
ment over the swamp and marsh west of Berwick,s
Bay, and the company has determined on The wise
measure Of purchasing force of negroes for car.
rying On the construction between upelolisas and
New iberia. An estimate Of the cost Of continuing
the road to 0pelousas, and thence to Texas, shows
that the road can be built To the Sabine with the
proceeds of the lands donated III Congress, and
tie bonds paid from its earnings. IN this ease the
ROAD Of 25s miles in length, and worth, at i low
valuation, six and . half millions Of dollars, be.
comes The property Of The stockholders, while the
eest to them will have been only three and d half
millions, for it ii estimated that the lands will
produce from two to three millions. Eighty.six
thousand acres Of these lands, Of great value and
in great request, viii be secured On the road
reaching 0pelousas, and the sales WILL in all prob
ability exceed the estimate.
The report directs attention TO Pine Prairie,
about twenty-five miles beyond Opeloiisas, as n
point pf vast Importance, for on reaching il Il
branch Of twenty miles would connect with d road
now in operation from alexandria. ii IS correct
indeed, 70 term this point 81 vast importance
fin It viii place tile thriving planting population Of
HE'D river valley IN daily communication With New
Orleans when the branch connection ii made 1t
VIII he ~ avenue Of freight and travel essential hi
them; for i will relieve themof their dependence
on the ehangefnl mood Of Red river, which, before
/ NOW, mas displayed It's whimsical disposition by
/ keeping haek aem market ever d hundred tholi-
sand bales ct eeiton " one crop, and forcing those
/ VINO Wefe Obliged 70 have some Of their produce
n inarkef 70 hani distance which entaiea nj es
pense, IN some INSTANCES, Of fifteen dollars ner
/ baae. 4 railroad, opening this % oflen closed
valley, would he m inest;mable bang to the peonla
1 syssE Matte and vastlg increase their trade with
New Orleans and insure large reyeIaue to 1.-THE
road.
So Hauna i the condition Of the read, 10 valuable
~ ianaad franchises 80 great lii promise III the
future and it Importance 70 Sew Orleans. AMI ID
satisfactory The security Afforded that NJ hold IL
bonds 10 be desirable investment. It Ii sarels
and safely progressing, the section iii operation j.
paying larga revenue, and a The work advanced
ths company GENES into possessieHsof great bodies
of ssluable lands. Il should always be reman.
herad, that ii making up The statements nf future
operations liz value 1t lands enuring ID The com
paay i PIT down i st,sa809e ii order 10 be on
THE aafe side. whereas The reasonably estimated
selling sae If these Iands Il placed ii ~ 100 900
by hose who know NEST of their character and are
couapsteilt iii indge. Fntsfng Them 1T tilc above
minimum saieHation, the snaa completed til Tie
Texas lin #{ have aalg il mortgage debt, I'd He
contracted under tas current sale Of bonds, BIZ
~. 900 900 pa able il tdiTtg years b. anauaiiasta
luaass.