New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-16

The following letter from DR.. Jeptha Fowll,es
| gives important information and useful advice to
the stockholders of the Southern Pacific Railroad
His arguments are of character to induce every
one interested in this great enterprise to make one
more effort to place it beyond the reach of future
contingencies.
The mode proposed at the recent meetings of
stockholders in New Orleans and Louisville seems
the easiest way of avoiding all future embarrass-
ment and putting the company on sure and per-
inaneht oasi9. we therefore commend the exposi-
tons OF Dr. Fowlkes to the attention of those inter
ested with the hope that his advice may be prompt
y acted upon as itseems to point to the only course
that can be taken under the peculiar circumstances
in which the company is involved:
To the Editors of the Louisville Journal
MEMPHIS, Tenn, April 2 1851
Genheinen-I returned last night from New Or
leans and take pleasure in giving you some of the
results OF our visit. Iincose an outline of the Hon
which was well received. All of the largest stock
noiders are paying up the additional purchase of
stoeh' as recommended by The Louisville meeting
OF stockholders on the 10Th March.
they pay with the assurance of our President
and Directors that all who pay will be protected
ana all who do not must give up the enterprise,
The road cannot be built without money. and if
stockholders refuse or now neglect to supply it, it
IL.
best stockholders, when left New Orleans were
zealousy and chcerfully responding, satisfied that
the best interests of the company and themselves
were to lop off all who have not the disposition or
the means to duly sustain and keep up this enter
prise. Col. Stevenson assumes the one dollar Der
snare upon the 100000 shares of stock invested in
the unsold stock will yield sum sufficient with
the means OF the company, to finish and complete
ntty more miles of road, making in all seventy
five miles, and this will yield large yearly in
come; and with this income the road and lands of
the company will enable them to construct the
road across Texas, even though no Government
aia pc given to the company, and though we fail
finally to have the contracts with Mossrs E. dc Bel
10y des Mineres, Brothers Il Co., and associates,
lauhed. de, however, with Others still confidently
espeets government assistance and the ratification
Vi Sne French contracts referred to.
Notlil9g put the times has made this call upon
our stockholders necessary and now really indis. |
pehsapIe and has created an exiconcv not to he |
avoided Ii the call is not RESPONDED to onr intor
es.s must DC saorihced. This fact is verify So
part OF our shareholders refuse to adyance money
unless all advance, and unless oh do tbo bannf; |
OF TINS stupendous project must enure to the fervH
well and able to meet its necessities now,
Many have their attention directed to the sacrifice
and purchase of our road and franchises. There
is no lack OF buyers. THE few" who do nav ra
qulre sale and repurchase for such as shall INV
unless nearly all shall pay up. To this policy our
resident and Directory are pledged, for without
suc9 pledges none will pay and all would be sacr-
feed as whole. Now let US examine the effects |
OF rms policy to those who pay, and when they are
wen understood, all able to pay will certainly do |
So tnink. We have AGO 900 shares of stock with
~ pef snare paid thereon, making $2,310,000 of
Satillal Stock. we have large and valuable
property, worth nearly this sum, and perspectvelv
sie Whole OF it. Now suppose that only 200 900
shares pay up the 81, making 5000 900 In cash and
OF STOCK be cut off say 260, 600 shares
~ OF me tota 100000, the effect will be to give
ms property and all the rights and franchises of
ne company to tho 200 600 shares which have paid.