New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-28
VOLUME XIV.
soTTHERN PACIFIC RAILROAD MEETING.

Company was held at Armory hall on Tuesday
evening.
Theodore Gillespie, ESQ.,, of New Orleans, was
called to tho CHAIR and r. W. Loughery, OF Mar
shall, Texas, invited to act as Secretary. 1,
Col. v X Stevenson the President of the Com.
pany was then introduced 10 the meeting, anu
made very able speech, in which ne gave q Dr!ti
history Of the Company since his connec'lon WIN
it to tue present time showing the d1hGnl,ieS IL
had to contend with and the manner IN ~hlcn tley
had been met by those entrusted "lt1 tut ilAaHa0
ment Of its aiiairs l.. ,. A.,
The first object to be achieved was to place tt1e
financial affairs Of the Company in such cobIl
lion and upon such a,hasis That the Company Wonid
be secure against every contingency; and secondly
to bring to B aid the requisite strength TO prose-
cute the work vigorously. -.
To accomplish these objects, they lfat Sought
tho aid of the Federal Government, aid, III the
next place. and subsidiary to it, to enlist capltaists
to build the road rapidly through Texas. How tar
| the agents of the Company had accomplished tne
objects tempated-With what industry ahu
ability they had labored, were evidenced IN tils
results which already partially matters es o.
history. 1t was veknown fact that, for hiteeh
years. intelligent enterprsing men had endeaY.
ored to enlist the aid of the Federal GoVcfnmeht
ct Washington in d scheme Of building railroad
to the Pacific But up to the time that Dr. to"lkeS
and other enerprising gentlemen had taken me Ine
matter in hand, no bill had been introduced INTO
Congress that promised the slightest hope OF sue
| cess. They by their energy, their industry-oy
exhibiting TO the country the unparalleled adVal-
tages Of railroad to the Paciic--had secured q
decided majority in both branches OF Congress,
| and we're only defeated by events for when they
were not responsible, and oyer winch lhey h"o no
control.
terminated with the secession OF t1e oouhedn ttdl
| States r. indeed that revolution could have been
postponed for thirty days the friends OF the enter
| prise would have accomplished all they dcsfeo
| And in order that the Stockholders might una
stand and fully appreciate ms iIng @a " Ht !I
these regulfs ]. The Pacific &a]raad hlil fecnred
to this company thtrty-six millions OF dollars ana
| the right Of way through the territories, with q
grant Of land amounting, in the aggregate 10 ABOUT
| fffeen DliUiong Of acres g. A contract had been
| made with a wealthy French company witch Sc
| cured the rapid construction OF The road to the
Pacific ocean. These FRENCH capitalls5s' a5 unaer
this contract agreed to furnish sl200 900 to pay
fer the fifty miles Of road now being pult ny De-
Graf 81 CO., leaving surplus to meet contlngen-
cies. ,,.,.o,
vised. The Pacific Rpilroad bill passed the United
States House of Representatives. by decided laa-
jarty 1t was then sent to the Senate where IL un-
| derEeut amendments, aud WGs !emanded 70 the
House for concurrence on tnose u
These alterations met the eanett3n oI tAe fFlehds
Of the bill and all that was required to secure It's
passage was favorable opportunity 10 call 1t up
Immediately afterwards the political comPhcatlohs
| Of the country eliminated ia the secession ct
several OF the Southern States, and with the farther
| understanding that Texas would also sccede.
| Northern men then seemed reluctant to support q
bill embracing such large grant OF money ana
land to o section and a State that dehled the ail-
| thority of the Union. They said they could not do
| 90 and sustain themselves ct home. The friends OF
the bill, however, urged its passage as peace
Offering aud succeeded in their ett9Ft$ Wicn !lafe
diutely afterwards the news reached Washington
of the seizure Of the forts and arsenals ana otneF
public property in Texas
So much for the history Of events at washington
and the efforts OF the officers and agents OF the
| aCESn and q ha
that men could do, under the circumstances, to
achieve success, and if they failed for the time
no blame could be ascribed TO them. Ihey had
at least, brought this enterprise prominently pc
fore the people, not only of the United States bu
Of the world, and had presented 1t with its grea
, advantages and results, to their contemplation
He had himself assisted ut Washington as lar as ht
J | was able, compatible with the discharge OF Ill
other duties, 80
The French association Of capitalists with whom
+ the Company had negotiated for the CONSTRUCTION
: | of the road through Texas, was known as Mcssrs
, | E. de Bellnt, d3s Mi1iercs Bros. u Co. IN orde
that it might be understood who they were, HI
| would state for the benefit OF those VINO were no
already advised, that this French company ma na
contracted to construct canal IN the oale OF II
| cinia involving very large expenditure OF money
The Legislature of that State deemed 1t necessary
to institute rigid inquiry into the character am
resources of the association, i'll order TO OBTAIN III
5 requisite assurance as to whether they possesse'
the ability to carry out their contract. CON
\ mttce composed of the most able men OF the y If
! gina Legislature, appointed for that purpose
Who consulted the leading capitalists OF the Unlte
States, and wrote to Europe to eAlalh sui lufthe
D information. That committee, attGr mature an
thorough examination, made report IN W hlcn tile
r state that the association of Messrs e.. de beho'
| dcs HinGrcs Bros. g. Co., are abundahuy anie I
perform their contract; that it is the most power
ful combination Of wealth, talent and political II
| IlueuCe in The world.
To illustrate the character of the men coGaeete
J, with this association, he mentioned the name
7 -s.Jr tI.lss EIEI n
} ton in the French Government. Ia addition t
7, this the Governments of France, Belgium an
= Spain had sjgnel their approval OF this con'ral
A on the part Of these gentlemen, who were COZ
r nected with their Governments.
Mr.. Stevenson sad that in tie latter part ot u
,; last summer he had made Il contract with II
y American member of this association OF the cha
j actGr he had previously stated, and which secure
d. to the Southern Pacific Company 81 200 ,0GO IN mo
r; ey and the construction Of the road across leEa
e; This gentleman ratified the contract, SO lar az
e. was in his power TO do so, and immeQintey leit II
o. E0rope to obtain the concurrence Of his ossociae
r of which he did not entertain doubt. 1t was su
j | seuuentY thought adeiiNbie by the EXecutl
'e Committee OF the Southern Pacific Company, ina
much as it was u matter OF great importance
H secure this pecunfay aid That ne \Mr.
a | should 60 to Europe, SO that il any dlIneulti
as arose in the confirmation Of the COntrac5 that
Il might be present to afford all necessary eHplRn
tons ae accordingly went to Europe and :
K NAMED in Paris about three months. livery di
A cultv was speedily removed ana he entertain
h. no doubt of the successful attainment OF
ii | mission.
.. But about that time intelligence was received
Europe of the extraordinary political contest tn
10 going on in the United States. The parties WI
~ @hom lie was negotiating, from their enlarged ?
litical cnnpections were fully ADVISED OF ine Sn,
o acter of that contest aud of the propaole oiS1
1t, irons results that might follow it, Ihey ask
D time to await the result. Mr.. Lincoln was electe
ILL., and with the intelligence of his election came al
G that of the secession Of South Carolina Still Fl
ra- ther time was asked, and Of course must be gra
mt ed, for it could not be expected that capital
ie- would advance mOney to carry ont great ent
IN prise in a country threatened with civil war.
IN, Then followed the session Of the American C(
. gress, the Presidents message presenting
~ alarming condition of our public affairs. the
es, lence of puhjic debate in Congress, the btern
of our public journas, all breathing the spirit
md revolution. Then intelligence was received OF
, r secession Of Georgia, Florida, Alabama Mississ
yes and Louisiana, with the probability that Texas
A; other South5rn States would also withdraw tr
!; ] the Union, 1t was useless 10 remain longer
Europe and he came hCme. But he would say
the Stockholders that he had by no means taliec
-a the object Of his mission He had received lett
~" from Messrs. Il. de Bcllot Co., written 81
these political complications and disasters stat
that as soon rs. there was evidence OF peace
OF permanent government in tho country, they "
ready to o0uiirm the contract. They could
at negotiate with people seemingly threatened v
res civil war and il could not be expected OF them
old Thus he had given u brief history OF the U
Iro many ginca his connection with it, and OF the eft