Shreveport weekly news., 1866-04-22

We cannot do better than rtpnb-
lIsh the following important infor-
nation, relative to our railroad. 1t
in the Marshall Republican
of the 18th. Al! persons Interested 7,
in the welfare Of til. road will peruse
it with satisfaction:
Condition and Prospects Of the
Southern Pacific Railroad COM
pany.
Marshall, Texas, April 10, &c.
Il W. Loughery. Esq:
Nv Dear .Sir-At the request of
many persons in; n;crcstrd. and to sat
i>ty the laudablc auxitv OF many
more, present TO you for pnblica-
ton, Il Stat-1nctt et til. present coi.-
dition Of the Southern Pacific Rail
road, so far as regards its conS,ruc-
.lon.
Vh. meeting Of Stockholders in
New Orleans on February 42l,d was
most harmonious, and approved the
policy Of the prrs,tnt Board Of hi
rrctor-, relative TO the n,l,ui~~io Of
stock. At that meeting, los 600
shares of stock held III kentucky and
New ork, was represented. All be-
licved the policy t" b. just. and we'll
adapted to the success of the enter
prise.
In stating to you the condition of
the road, will speak first of the SEC
ton between Shreveport and Mar
shall. This section viii be compile
ted by the lst of August next. Iron.
chairs, spikes, switches, and every
other material for :lle track were pur
chased and will be in New Orleans
by the first of May. Our very rn.r-
getic and Jealous presitlen, has Sc
cured, in Louisville. Kentucky. mon
cy sufficient to pay for item. and
have them delivered at Shreveport
Proposals for cross-ties are already
advertised, and the work OF com
pl.ting this section com,nencrS i'm
rediately. This portion of our road
is safe. There is no doubt ovrrhang
ing it.
l will give You also the informa
tion in possession Of the company,
concerning the road west of Mar
shall. In the month Of September,
1860, V. X. Stevenson, Of Nashville,
then President Of the company, CON
cluIed a contract with NJ. NJ. licilot
dcs Minerers, Brothers s. Co.. of
France, for the construction Of the
road westward to FL Iaso, on the
Rio Grande. This was most ad-
vantaseous contract for the company
The war occurring just at that time,
made it impossible for these parties
to even enter upon the work. Dir.
Stevenson visited Paris at that time
to designate the quality of rails, loco
motives, &c., to be used in the con-
st1uction and operation OF the road
as these all had to be furnished by
the contracting party. H. reported
the parties to be able to do all they
had undrtaken, but that the hostile
attitude of the North and South de-
tered them from investing money in
the enterprise. During the war, how
ever, by some means, these contract
ing parties succeeded i'll getting sew
eral communications to the company
expressing a strong anxiety to CON
tinue the contract.
Their last proposition, received
since hostilities ceased, was to renew
the contract with few notifications,
which are not material to the com
pany. The changes proposed more
concern themselves. An agent has,
therefore. been empowered to pro-
ceed to France to renew the con-
tract. H.. is doubtless there before
this time, and l know of no obstacle
10 the conslmmation of his mission.
| have stated that this contract
was highly favorable to the company
it is so to the contract ors, also.-
AS much inquiry has been made as
TO its terms, it may be well to state
its important provisions.
The contractors agree, first, to
take one million dollars of the compa-
ny, ut par value, TO be paid III twelve
montIls-25O,OOO at the beginning
of each three months, after the con-
tract is modified and renewed. The
contract defines money to mean
.'gold or exchange, any currency of
the United States to the contrary,
notwithstandi g;'' and the first pay
ment is to be considered commence
ment of the work.
They are secondly required to do
all the grading, on such grades as
the company may determine on to be
proper and reasonable for first class
road to furnish all the labor, mate
rials of every description necessary
for bridges, culvcrts, and superstr"c-
ture; to build alp machine shops
and supply them with machinery;
all depots, water stations, turnouts,
side tracks; to build iron bridges
over large streams, and toplace upon
each hundred miles of road so com
,,lafsd hv them, sixteen first class