The south-western. [volume] (Shreveport, La.) 1852-1870, 1865-10-18
The Shreveport and Marshall Railroad.

The Shreveport and Marshall Railroad.
Il viii be recoeced b. our readers, that stated
some time since, that Col Waskom, president Of the
above road had gone New Orleans for the purpose
Of comforting with the stockholders with regard pro-
curing means to finish the gap of fourteen miles. In
the New Orleans True Delta Of the 10TH find the
port Of meeting ofthe New Orleans stockholders held
al the ST. Charles hotel the 9Th inst, for the pur
pose Of hearing what the president and secretary of the
road had to say. Though the number of stockholders
was not large, most of the stock represented. We
take the following account of the proceedings from the
| True Delta:
| On motion, Mr.. w. S. Brown called to the chair
! and Mr. H. S. Fulkerson appointed secretary. On tax
ing the chair, and calling the meeting to order, the
president observed thatt convened for the purpose
of hearing reports ana statements from the president Of
the company Col J. NJ. Waskom, and Of the secretary
and treasurer Dr.. A. J. Smith.
After being introduced to the meeting, Col W. pro-
ceeded TO make clear succuc and lucid statement OF
the affairs ofthe great enterprise over Whch lie Presdes
Remarkng that for four years the directory located at
Marshall Texas had been cut oil from communication
with their New Orleans partners on account of the war
be stated that they had been placed in situation Of
great decacy and responsibility but they had done the
best they could under the circumstances large debt
then in existence had been quidaed, and the floating
debt of the company, at the outside estimate did not
exceed fifty thousand dollars and this was in the hands
of friends interested in the preservation of the road
The expenses had been cut down to the lowest possible
figure cars kept constantly running and the receipts
were now largely in excess of the expenditures. In
1861 the company leased from the Vicksburg, Shreye
port and Texas Railroad Company, its route from
Shreveport to the Texas State line the most reason
able terms for period of twenty years. The road
was already graded and only needed the cross ties and
iron. From the Texas line, out towards Shreveport
eight miles Of iron have been laid and only requires
iron for thirteen fourteen miles to make the connec-
ton with navigation at Shreveport, which will
throw an immense and profitable business into the hands
Of the company This iron will cost about $4,000 IN
currency and to obtain this money and meet their con-
tract with the Yicks6urg road was the great difficulty
in the way By the terms of the lease this portion OF
the road if not completed by the LIST of April 1866, re-
verts to the Vcksburg company, it paying however,
for the work done and expense incurred at fair val
uaon All the stockholders could lose in the event OF
this disaster happening the great prospective
profits which anticipated from the lease. But
should this gap be closed up they would have forytwo
miles of railroad, running through extremely rich
country and would be able to transact business of at
least $780, per annum at the lowest caculaon and
as the road progressed westwardly from Marshall,
through the finest cotton region earth, and became
able to avail itself of its immense land donation, the
amount Of traffic that would flow upon could hardly
be oVer-estimated But, matters stood at present.
the company owned more actual property than the
amount Of its outstanding stock called for with every
dollar of liability paid For these reasons, Col Was
kom advised his hearers not to sacrifice their stock
Throughout, president W. explicit and practical
in his statements and his explanations gave general
satisfaction.
The secretary and treasurer, DR.. A. J. Smith, then
gave clear and comprehensive review Of the financial
affairs fthe company from the record in which all the
general illusions Of the president were sustained He
too was listened to with marked satisfaction The ad-
dresses of these two gentlemen inspired most hopeful
feeling among all present ana doubt not, will tend
greatly towards putting this important work ofinterna
Improvement "on its legs again"
After thanking by resolution, president Waskom
and secretary Smith for their able and instructive ad
dresses and rendering the thanks the meeting to the
propretors of the ST. Charles hotel for their beraity
in giving them the free Of the ladies' parlor, mo
ten to adjourn made and carried and each and all
wended their several ways they pleased, better sat
isfed than before.