New Orleans daily crescent., 1861-03-12
THE NEW ORLEANS, OPELOUSAs AMI
GREAT WESTERN RAILROAD.

A copy of tho "Ninth Annual Report of til,
| President and Directors of the New Orleans, Ope
lousas and Great Western Railroad Company" ha:
| been laid or our table, From the report of the
| President, Mr. Hewes, we learn that the expense
of operating the road for the past year was $685.
272. Deducting the cost of ferriage, it was S2l2
| 5s2, which is about forty per cent. of the gross
earnings. This, we believe, is somewhat less than
! the usual average of expenses, and shows that
proper economy has been used by the officials OF
| the Company.
The road is finished to Berwick's Bay a distance
of eighty miles From there to New Iberia, forty
five miles, the grading will be finished, and the road
ready for the superstructure, in about two months.
Between New Iberia and Opeousas, forty miles,
| nearly twenty miles of graduation have been COM
pleted. Beyond Opelousas it does not appear that
any work has been done. The Chief Engineer,
COL Bayley, says that by the LIST of April there will
be sixtyone miles of roadway ready for track lay
ing, and seventy-fve miles by the 1st of July.
The floating debt OF the company is three hun
| dred and forty thousand dollars, being reduc-
| ton of fourteen thousand dollars from the floating
debt Of last year. The gross earnings of the road
| for. the year were $4sl ,92l-about six thousand
dollars to the mile. There are over six hundred
| Thousand acres of land belonging to the company.
The President says that the sales of these lands
will probably nett an amount equal to the whole
paid-up capital of the company. The policy of
the Board of Directors, while anxious to complete
the road as speedily possible, has been to keep
| from increasing the floating debt, but to 90 on
| steadily as the resources of the company in bonds
and lands are realized. The President thinks that
these resources are sufficient to build and equip the
| Errl,o IL i M
hundred and fftyeght miles.
When this is done the stockholders will have
road worth six millions of dollars, which will have
cost only three and half millions.
The Report of Vice-President Seger shows the
road from Algiers to Berwick's Bay to be in good
condition The company is provided with plenty
OF engines and passenger for its present bust.
ness. Instead of building bridge at Berwicks
Bay, arrangements have been made for the con-
struction of boat which will cross fifteen loaded
freight cars at time.
These are the principle items of interest in the
different Reports. When the road is finished to
Opelousas, it will be of great service and benefit,
not only to the people of that rich and productive
region but to the commerce of this city. Its full
value, however, will never be realized until it is
finished clear through to the Texas line A road
from Houston, Texas, running Eastward to the
Louisiana line, is almost completed, and it is intend
ed that our road shall meet the Texan one on the
opposite banks of the Sabine river. Then, New
Orleans will have continuous railway connection
with Houston, Texas, at which point other rail.
roads radiate in different directions penetrating
the best portions of the State. It is needless to
say what advantage it will be to this city to have
railway communication with SO productive a State |
as Texas, and one with SO promising future be-
fore her; and we therefore trust the work on our
Great Western road will be pushed forward as
rapidly as the circumstances of the case will ad-
nit,