The south-western. [volume] (Shreveport, La.) 1852-1870, 1866-03-07
sonthern Pscific Railroad,

ult., president Waskom presiding. The meeting
though not large spirited and the result satistac-
tory The report of the committee appointed at the
last meeting, to take INTO consideration matters ap-
pertaining to this great enterprise received and
adopted. AS the report is too long for our columns
we content ourselves with the following summary:
The report opens by stating that the last meeting
was held in Louisville in 1851, at which time the
road was so hard pressed that the stockholders had to
resort to extreme measures to save their property
from utter loss, and they passed the following
luton
Resolcsd That each shareholder shall subscribe for
and purchase of the company many shares of its
unsod capital five dollars the share, not to be sub
iect to additional calls will make equal to one
dollar for each share now held by him, for which,
when paid, certificates shall issue.
Every effort was made to collect this money, but
the war soon after breaking out much of what was
collected failed reach its proper destination What
was received did suffice release the road of its
detts and it accordingly sold at sherifs SALE
the Sd Of September, 1861. The purchasers organ
iscd new company, aud have held and operated the
road from that time to this. During that time much
of the debt hanging the road in 1861, has been
paid. The completed part Of the road was kept in
good order, and the construction continued until it
now reaches from Marshall towards Shreveport twenty
eight miles, and three miles from Shreveport towards
the Interior leaving vacuum of eleven miles between
Shreveport and Marshall. Twenty miles of the road
graded beyond Marshall. The road has three loco
motives and number Of box and platform cars,
The absolute Indebtedness of the company is $780,
ISL q. This includes the State loan. The actual
floating debt is only some 5000.
Major Banch, chief engineer, estimates that it will
take 1852 500 to finish the road and put in complete
running order from Shreveport to Marshall Major
Banch estimates that the receipts from freghts alone
would be thousand dollars per day. the year round
on the road between Marshall and Shreveport The
State of Texas still remain intact The grants of land
through Texas amount to 10 200 acres per mile, and
loan of SC, 600 per mile ,foE every mile built
The committee approves Of the course of the pres
board of directors in reopenng the books to all
former stockholders who should comply with the reso-
luton of 1861. All stockholders who paid the one
dollar per share subscription ordered at the meeting
in Louisville, and reported the fact at Marshall are
already enrolled as stockholders. No other persons
stockholders but those who paid that subscription
The committee recommend that this meeting approve
of the action Of the Louisville meeting, as the basis
which all bona tide stockholders at that date may
resume their interest in the road within limited
time say onebalf Of fifty per cent to be paid on or
before the 18th day of April, and the rest on or be-
fore the lst of June next The first payment would
be sufficient notice pledge Of the intentions Of
parties to protect their stock and contracts can be
entered into with certainty that the remainder will be
available to the company.
The proposal of some of the delinquent stockhold.
ers to refund some Of their stock in payment of the
subscription, was not accepted The company want
money, not stock.
Should all the bona .fde stockholders throughout
the country pay the calls and protect their stock it
would amount in the aggregate, to $4,000, enough
not only to finish the road between Marshall and
Shreveport, but to finish the twenty miles already
graded beyond Marshall, making continuous road OF
sixty miles, into the very richest country Of Texas
Such road would be worth 5000, 100000, and would
yield a revenue Of half million yearly Stock to
the amount of $500, 900 is now protected on the
books Of the company by having paid all calls, inclu-
ding the one dollar per share subscription. 1t is
thought that an equal amount will be paid when
the stock will be worth dollar for dollar without in
GLIDING the vast franchise of lands and money guaran
teed by the State Of Texas.
The committee submitted the following resolutions,
which, together with the report, were unanimously
adopted
/. Resolved That the stockholders approve as emf
nently Just and fair the offer of the board of directors
to restore to the stock books the Of all stock
holders Of the Southern Pacific railroad who have
paid or shall pay to the authorised agents of the
company within the time to be fixed by the directors
all calls heretofore made their stock including the
new subscription of dollar per share required by
resolution of the stockholders meeting held in Louis
vile, in March 1861.
3 ReSolyed That the stockholders see abundant
reason in the present condition Of the Southern Pacific
railroad to Justify all its old friends in last, and
what to all appearances will be successful effort to
place it on solid footing Of success.
s. ReSolusd That in view of the almost ncalculable
benefits to be derived by the company from the com
petion of eleven miles Of track lacking between Mar
shall and Shreveport the directors instructed to
take speedy and efficient measures to complete the
same and that the end to be attained will justify
unusual efforts and if needs be, Sacrifices to accom-
psh it.
People generally like trade with those whom they
can make TIE best bargains with, and at the time
be treated courteously This we opine is the reason
why SO many trade with Phelps & Co., on the evee.
They always prepared to fill all orders promptly,
at the lowest market price, and no grumbIng. Try
them, and see
While business is falling off with many Of our
houses, that of E. & B. Jacobs, if anything is ncreas
ing. With ample stock, bought from first hands,
they are prepared to do larger jobbing bus.gsg on
more liberal terms than any other house IN this sec
ten Of country.
The amount of boots and shoes sold in this place
really astonishing. The business is far from being
confined to the retail trade but comprises large
obbing traffic This is owing to the great inducements
offered by our merchants, who purchase direct from
the manufacturers and among the first of whom is J.
b. Lewis, Jr., on the corner Of Texas and Spring
streets. He is prepared to fill all orders, whole
sale or retail
THE SOUTHERN CULTYAroR.-By the last mail we
received copy Of this able agricultural paper the
first have had for three years. If anything, it has
improved in the interim, and now comes to US the
ahlpst aDar in the Union II is nubshad