Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1867-07-06
The Central Rail Road.

Wv UP 'ho " ho"iHB nun 'uo Iuunton
Journal. II 10 tho first article In defence
Of the managers Of the Central Rail Road
that we have seen. AS we have heard a
great deal against them, We chcerfully give
place to this article In their defence:
Influenced by what wc conceived
to DO our duty, VIC have on several
occasions alluded TO the manage
mcnt of tho Central Railroad in
terms of censuro.
Our structures 80 far from exciting
anger on the part Of tho President
and Directors of the road, were
answered by a personal request that
wo should pause and investigate
The request was reasonable, and we
have in tho last few days, instituted
a searching inquiry into tho opera
tions Of of the Road from its origin
to the present day.
In all our private relations with
men, we have acted upon the prin-
ciple to do full justice in all cases,
though it should involve the ac-
acknowledgement Of an error. Upon
cxaminating the companys books,
always open for inspection, We find;
First, that W. J. Hutchins, prior to
April 1861, had advanced to tho
company about $4,000, in coin !;
that the Road being largely in debt,
on tho I'd of April 1861, was sold by
the sheriff of Harris county, to sat-
'isfy a judgment against it, for about
eleven thousand dollars; that Mr..
Hutchins became the purchaser,
and acquired thereby a perfect title,
us against the other stockholders,
whose interests had been transfer
red by the sale.
On tho Sd day Of April 1861, the
day after tho sale, Mr.. Hutchins
conveyed the Road on the books of
the company, back to the Stock
holders, or such Of them as would
como forward in six months, and
pay ten per cent. on their paid up
stock, that being the amount he had
paid on execution, and discharged
the interest on. the debt due the
State.
This proposition was published
in the Houston Telegraph of that
date, for the information of all
Stockholders, aiiaa t t!.st on the 3D.
a asJ G. September 1861, the time for
the payment of the ten per cent. was
extended voluntarily, six months
longer. |
The Legislature on the 18th of
of January 1862, passed an act,
which extended tho time of pay
mont to Stockholders, about six
years longer, thus giving them
nearly seven years to save their
stock, which had Already been for
feited dy the sale to Mr.. Hutchins.
We have only recently become ac-
quainted with the real history ofthis
sale. 1t is probably a matter Of
simple justice that we should further
state, that tho Central Road has
paid every dollar due on its state
loan, while there are other compa-
MES who have not done 80.
1t is one of the few Roads, which
has not at some time since 1860, for
feited its charter. The Road is
now beidg extended rapidly into
the interior of tho State.
The iron which is now being laid
down to meet the requirements Of
the statute, and the ship-loads on
the ocean, now afloat from England,
was purchased by the individual
money of w. J. Hutchins, W. r.
Baker, and other Directors, which
could not have been bought on the
credit of the State or the Company.
Justice to the Road, ono of tho
most important enterprises in the
state, requires that the above facts
should be stated, and we hope it will
be sustained in it's great efforts to
penetrate and develop the vast
grain and stock regions of the state,
now the finest portion Of the habi-
table earth. Instances Of local and
individual grievances may have oc-
Cured, and may still occur, but
taking into a cosidcration the i'm
portance the Road to the whole
state, it should be sustained and up
held in tho COINCIDENCE of the people.
PAYMENTS TO CoNFEDERArE RECEIVERS.
Amnnn the cases decided by Chief JUS