New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-11-16
TIE SonrH EEST RAILROAD.


Owing TO misapprehension accustomed by dispatch
10 TnR TRIBUNE msconstruing the nature OF the IN
junction of Mess Jessup Co. against the sale oil the
Cairo Fulton Railroad, and assigning the effect as
influencing the purchase Of Gen. Fremont and assoc-
ates in the South West Branch OF the Paciho Railroad
We deem IL our duty to give the public the exact
status of the South West Railroad in the forfeiture
and purchase.
The State of Missouri, about dozen years
since, adopted the policy Of granting State aid
TO insure the building Of railroads in that
State To do this, the State guaranteed the bonds
Of the various railroads. taking therefor to secure the
payment lien on the roads, franchises. and appur-
tenances The bonds to insure the building of tho
South.we Branch were authorized TO the amount OF
SO, 600 OOO under "An Act entitled an Act tosecure
the completion of certain railroads in the State ap-
proved December 10, 1885," and section % Of said
Act provided as follows:
Sec % In the Pacific Railroad fails to complete the
sadrst division Of said Southwest Branch in three from
passage Of this the interest on said guaranteed
bonds to hold the State harmless from said men
lands appropriated 10 the construction thereof belonging 70
the HiOad company at the time OF such deiaat ana al
,eithout any process proceeding become ne properly
the Sa 'et only u, Sgresad 'nOrgag' And the G 10y,
form ali or ethcro the above conditions may take possession
thereof behalf Of the and and control the same
until otherwise disposed Of by Act Of the Legislature"
In 1861, the railroads failed to pay the interest
thereby working forfeiture to the State. The country
was Just entering into the horrors Of the Rebellion
Missouri was like Virginia, the scene of determined
conflict for the supremacy of the oontendng parties
The State authorities headed by Gov. jackson, were
nearly all disloyal, and, by Convention elected by
the people in February, 1861, were deposed in July
1861, and new State Government, with the Hon.
Hamilton X. Gamble as Governor, formed.
As will be seen, the failure to pay the interest had
worked an absolute forfeiture of the roads, and il be-
came the duty of the Governor to take possession.
On the assembling of the newly -elected Legislature
which was elected at the regular election in the Fall
of 1862 and convened on the last Monday Of Deem
ber Gov Gamble referred to the forfeiture of the
Southwest Branch Of the Pacific Railroad in the fol-
lowing words:
From other railroad companies have report or In
formation o.. ,.,,.,
by Law. and with IT, lands the property OF iheSae on ae
the failure Of the Company opay interest on the state
bonds Did take possession OF this roal as WIS en-
poweed 10 Do by law because regarded better for the
interests OF the state itself that II should continue to be worked
by the Company than by the state. 1t H. however the
property he State BE- disposed Of Judge best
Various bills we're introduced but no definite &C
ton having been taken by the General Assembly the
following inierrener, by way Of act was passed to
authorize tho action Of the Governor until definite ac
ton Of the General Assembly.
An act 20 prevent sale OF the Railroads Of the State
Be sHdo,ed by he General A''sH6y Of ne Sidf 81 M'ovr
That the Governor Of the State h. and hereby required
10 make no sae railroads Of this State Is required
by law until directed by the General Assembly Of tins state
=" This taka effect from and after ita passage.
Approved March 81, lsol'
This interviewer remained in force until the action
of the General Assembly in February, 1866, passing
bill providing for sale Of the Southwest Branch Of
the Pacific Railroad. &c. Under tho provisions of
this act Gen Fremont purchased the road.
II may be proper to add that Gov. Gamble (whOse
message we have quoted was one Of the most eminent
and clear headed lawyers Of the country. He was
familiar with all the legislation and law the subject
and knew that he was right in declaring the road
1.-THE property Of the State"
The interests OF the bondholders are enhanced by
the action Of the State in dsposing Of various unn-
shed railroads under terms insurng their completion.
The State has thrown of the incubus Of Slavery, has
repudiaed dsloyalty. and is making giant strides in
progress. Her citizens using every effort TO de-
yelop the wealth of her mines and her soil. 1t Is
unfortunate that debt of such magnitude should be
thrust upon the attention of the State at this periods
but her citizens acting energetcally with full
determination TO resume at the earliest possible day
full payment of her obligations, and nothing
seems to threaten TO prevent such action.