Arkansas true Democrat., 1860-05-12
DIR E C T o R s

RICHARD H. JOHNSON,
 F. AsBuRY KING,
 l. M. MOORE, of White
 HENRY C. DYE, of Independence
 EDWARD R. McGuIRE, :"
 JAS. L. WITHERsPooN, of Clark
 CHAs. B. MrCHEL, of Hampstead
 EDWARD CRoss, !"
 GEO. w. HUGHEs, of Saline
 MASON BRAYMAY, Springfield, Illinois.
 OFFICERS.
 President-MAsoN BRAYMAN
 Vice Presdent-DANIEL RINGo.
 Sccreary--F. 4. STARING.
 Ireaswer--WM B. WAIT.
 ErecutiUe Committee-M. BRAYMAN,
 DANIEL RINGo,
 GEO. C. WATKINS.
 The transactions of the company during the past year have not been sufficiently voumnous or i'm portant to require publication in phlet form. Such information, relating to the condition and prospects oi the company, as may be acceptable and useful, is here given.
 The quantity of lands intended to be granted by the act of Congress, in ad of the construction of this road is ,l55, $40 acres. Owing, however, to the withdrawal of large quantities of lands properly enurng to this object, nnder color of the swamp land laws, and this appropriation to state uses not designed by Congress, the quantity Sched- uled to this company is but 409, 4l-l00 acres,
 
 that this deficiency will yet be supplied. As this company has made large reinqunshments of it's lands to relieve the State from embarrassment, on account Of its having prematurey and Tn error, sold them as swamp lands, having no title, it is presumed that the Generl Assembly will be pre- pared to protect the company from loss on thiS account.
 The fact has been heretofore made public, that the company in November, 1859, ordered the issue Ot Gre mill n pprc year bonds, to be used in procuring money and materials for the construction and equipment of their road and placed all their lands and property in deed of trust, to secure the payment of those bonds, with their semi-annual interest.
 That order has been carried into effect. The bonds engraved and in part, executed, and the title to the lands is in John Moore, John Wilson and Mason Brayman, trustees, who, in behalf of the company have full control of them, and are making sales to all who desire to purchase. The aUrage selling price is fixed at five dollars per acre, and the bonds receivable; and all deeds of lands must be accompanied by redemption and cancella- tion of bonds, thus keeping the security for all out standing bonds perfect and preserving the integrity of the trust.
 The trustees, since the lands have passed to them have made sale of 2,799 SS-l00 acres oi these lands, on account of existing debts. These sales include conyeyances to preemption claimants under the law, at the fixed price of 5, 50 per- acre, also Sundry deeds, mith0m consideration of tracts relinquished in behalf of the Stae to parties who had bought and paid for them swamp lands, but to which, not being of that character the State could perfect no title.
 With regard to the work of constructions the company having done nothing, has nothing to re port Nothing has been added to the work done north of White river, and reported nearly two years since. No such securities as this company could offer, would bring money or materials at any proposed sacrtce-the lands, of course awaited the progress of the work to render them salcable; and generally the stock holders declined paving install ments or adding new subscriptions, until the same contingency was reached. Each of these sources of income being kept closed against the company directory, they can without acknowledging remlss- ness i'll duty, announce that the road is not yet built
 They have however, done what they could to preserve the property and rights of the company tio loss At the important meeting Of last fall, in addition to the placing the lands in trust and providing for the issue of bonds, they stopped the business ofrunning indebt, by cutting of all useless salaries, dismsslng officers and agents who had nothing to do, and reducing all expenses to the lowest limit; and have brought the accounts of the company into a better shape. This has enabled them, with the limited means at their disposal, arising from lands receipts etc., to reduce the float ing debt of the company during the year, from S4l ,l52 25 to $29,4JO 50.
 The trustees have deeds contracts etc., prepared, and will sell lands for pay in hand, on time, as may suit the means of purchasers. Care is observed in giving preference to occupants, and to persons purchasing for immediate use.
 The prospect of building the road of this com pany is good. The road Of the same name in Mis- sour, (ts northern terminHs,) is approaching the boundary of this State. The Memphis, Fl Passo and Pacific Railroad, (our western extenslon) in Texas, is in progress-grading from our line for fifty miles being nearly finished, and the rails and equipment for the first twenty five miles purchased and arriving. The roads coming up from Calves ton to meet us are in rapid progress. Arkansas is feeling the outside pressure. The road of this company is demanded, part of through line.- 1t is now included with the Memphis and Little Rock road and the Texas road and a yet unsur- yeyed line from the western boundary of that State to San Diego, in bill introduced ill the House of Representatives, by Mr. Boteller of Va., for a southern line of railroad and telegraph across the continent. If nee do not build this road for our selves those enterprisng States on either side of us will bridge over the State of Arkansas, as if encounterng an obstruction in the ghway of con- merce and civilization. Patriotism-State pride sectional pride, eff that is proper to be nvoked as well as commercial necessity demand that Ar kansas have her share in the great works of the age
 The railroads of the west and southwest are com ing into good credit, and Ahose on this side the Mississippi that through weakness, or ''masterly inactivity, have preserved their credit and resour- ces are rising into vigorous prominence, and may safely go forward.
 party of practical contractors and capitalists citizens of Arkansas north of White River, have proposed to execute the earthwork (about onO DOC cubic ysrds) and furnish the ties (about l9o,000, for the whole distance from Missouri to the cross ing of White River, seventy miles, receivng theil pay wholly in land bonds, which are receivable by the trustees for apds and the president is author ized to meet them in Pocahontas during the ensu ing week, to conclude a contract The southerr portion, forming part of the Pacific rsfe, vii soon be ready for proposals of the same kind. The growing prosperity of the State-its grea improvement in all the means of wealth and civii zaton call for an increase of facilities for develop ing it's resources and rendering its rich soil and sa lubrious climate more attractive A system o railroads is an indispensable necessity. It IS con ceded that the General Assembly at it's future ses sons will appreciate this fact, and that as certaiI result of public munifcence and private enterprise | the hopes confidently expressed concerning th' Cairo and Fulton Railroad, will be realised by all M. BRAYMAN, Pyssident E. A. SrAaNs, Sse'y