New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-03
srtn sourIlls1sA d eEFEc n AEE. moan.

pfaE SOUTHERN FtAcTFKc RAILROAD.
II The friends Of this enterprise ought TO beup and
doing. It Is all important that the debts of the
q Company III Texas should be promptly met, and
that iron, supplies and every necessary to ensure
Il vigorous prosecution Of the work, should be
shipped as early as possible. The navigation id
Red river and Lake Gaddo is now good and
1 freights are cheap, cheaper than they have
4 been for years; but who can tell how long
the navigation viii last I? If it declines; moth
| ing can be shipped before late in the fall
1 or winter. 1t is vitality important, and we
would enforce this idea upon stockholders, that
fifty additional miles Of this road should be com
| pleted to take of the growing crop which prom-
SEES to be universally large and to command good
prices For when this is done, a revenue will be
| afforded fully adequate to meet any ordinary de-
| mand that may be made upon the Company, There
will then be one hundred and two miles conpleted
eighty-two Of which will belong to the Southern
Pacific Company, extending into the heart Of a
cotton country of unequaled wealth and fertility.
There Is not, in all this section navigable stream.
except Red river, worthy of the name, and conse
quently business will come to it from hundreds of
miles in every direction.
This line Of road, when completed, will be worth,
with the other assets of the Company, not less
than So 500, 00e. The Company is entitled 40 d
land bonus of 10000 acres of land to the mile.
which upon So miles Of road amounts to s36 AGO.
is It not extremely moderate to value this land at
900, GOO Them with fifty more miles of rail-
road, and connection with Shreveport, the stock
holders will possess . property worth, in round
numbers, five millions of dollars.
Now let us look what it will have cost them.
The existing stock, recognized by the Company.
may be estimated at about $22000oO that is
10000 shares, upon which the stockholders are
requested to make an advance Of one dollar, and
! to take it In new stock.
AS an arithmetica proposition it is easy of com
prehension. The Company will have property in
its possession worth at the least calculation five
millions of dollars which will have cost them but
| s2,60000o.
Nor is this all. The Company will be entitled to
q loan from the State of Texas, of $1,000 per mile,
upon this 81 miles of finished road. That Is
s432, 600 1t can then proceed and construct fifty
miles more. and obtaina further lean of $500, 600
for these fifty miles; in all, s70o, 900; sum amply
sufficient to pay for the work. Ell
What will be the condition of the Company them
It will hare 1872 miles Of road completed, worth
81 $50 600 and lands in fee simple amounting to
1876 400 acres Now, it must be recolleeted that
with 1872 miles Of railroad completed, and prom
Use of rapid progress of the work. these lands viii
possess marketable value. Any one who has
any experience of the effect Of railroads upon the
value of lands, and of the immense immigration
into Texas of late years, will not question that
these lands Of the Company can be readily sold,
if the Company should conclude to sacrifice them
at that price to raise money at over five dollars an
acre Then, these stockholders will be worth over
nine millions Of dollars, upon an investment of |
s2,600,o0e.
All that is necessary to achieve these results, is
for the stockholders to step forward and protect |
their own interests by the Insignificant subscrip-
ton Of one dollar upon each share Of their stock
This will give the Company 100000, which, with
the State aid, will finish and equip the fifty addi-
tional miles of road and leave a surplus. Surely
the stockholders, thinking, practical men, as we
presume them to be, will not suffer their property
worth at the present time not less than two mil
ions Of dollars, sacrificed for debts which amount
q the aggregate TO not over 600. They will
not permit this work to languish for aid in view of
such prospects Of munifeent results?
Here is a railroad Company such as we have
represented, with gentleman at the head Of it Of
integrity ability, and experience
second in fact to no railroad man in the country-
one who has the character of never having failed
at anything he undertook Would he hazard his
reputation, sacrifice his time and invest his monev
IN Q delusiye scheme? And hence it is astonishing
to us why it is that any stakeholder should hesitate
q moment as to what his interest demands of him
10 = Z
and total loss Of investments on the other, While
they are hesltating and doubling the road may and
quite likely will, be sold out unless they come to
rs rellef. Delays are dangerous, and if they
1o not loose the road they may, by their supine-
ness, defeat the purpose ofconstructing fifty adj
iItional miles this year, which, as We said in
he beginning, must be regarded as all important.
the stockholders are blind to their own interests
hey may rest assured there will be found others to
axe their PLACES They may fail, but the enter
rise Will not. 1t has attracted the attention of
he leading, thinking men, in both hemispheres.
sold, they may rest assured there will be com
oahy formed 70 purchase it, able and willing to
AIRY on the work. And while we should like to
zee those who have invested their means in this en-
erprise realize the golden harvest connected with
g successful prosecution, we may not regret as
We otherwise should, if the stockholders fail to
come forward promptly in the present emergency.
g see it change hands and new company formed
Of men possessing more enlarged views, iberaljty,
and practical knowledge. With this plain. blunt
statement, We take leave of the subject for the
present
TALK ON CHANGE
The chief talk yesterday at some of tie most
noted corners was about horses. Now and then
lotion bear would stroll along whistling silently