Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1869-12-28
ENGLIsH
Fremont d Co.-The Memphis, Ei
Paso and Pacific RaiirOad Com
many.

pany.
Editor Courier Journal:
The special correspondent OF the Cou-
rier-J Journal, at Washington, gives us
some hints as to the management of this
enterprise which are decidedly interest
ing to parties who ore acquainted with
statements heretofore made by them, and
with the actual status of that concern.
This special correspondent is, or at least
he says he is, a director in the scheme.
Certainly he takes great interest in it il
the piles Of stock he is represented to
have in it are not exaggerated. II is, we
think, well to exemine into the status OF
the immense corporation since it ia now
before the Congress of the United States
for iudorsement and assistance. The
company was incorporated prior to the
war by the Legislature of the State OF
Texas, with liberal donations. Of land
and moneyed assistance from the State,
tion Of country, its charter subject to GER
tain limitations and restrictions. Prior
to the war IL presented its claim for ten
sectionS of land to the mile, representing
it had graded, ready for the superstruc-
ture, sixty miles of road. By the assist
ance of the then Governor these lands
would have passed into the possession of
the company, had it not heen for the
com missioner of the land Office, who re-
fused to issue the patents therefor, on the
ground that none of the grading had been
completed. An examination revealed
the fact that the so-called grading con-
sisted of some half-dozen furrows run hF
plows for the distance claimed. The
road remained in this condition till the
end of the war, the officers of the road
maintaining that their charter and fran
chises were intact and fully secured, but
during the session of the State Conven-
tion they had declaration introduced,
providing that the years of the war
should not be counted against the com
pany 90 affecting it's character. This
was referred to the Committee of Internal
Improvement This committee laid the
matter before the Attorney General of
the State, who reported that the Memphis,
FL Paso and Pacific Railroad Company
had forfeited its charter and had no legal
status whatever in the State Of Texas,
whereupon the convention declared
against giving the relief asked and threw
open the reserved lands of the company
to location and sale.
This, then, is the condition of the COM
pany which went to France and, accord
ing to the statements of iis directors, no
two of which were alike, raised in cash
and had to their credit in bank from
three to thirteen millions of dollars in
gold--a road without q charter or legal
status, without a mile built or car run
ming, and under the management of Gen.
Fremont. Fremont did 20 to France,
and whilst there made representations
which, if true, would have entitled him
to credit; but, unfortunately, Minister
Washburne exposed the fraud and
pricked the bubble.
Gen. Fremont publicly advertised, and
| have now before me the Monde Illus
tire, of the 18th of May, 1862 in which
it is asserted that the bonds of the Men,
phis, Ell Paso and Pacific Railroad Com
pany were indorsed by the Government
of the United States. The matter was
referred by Minister Washburne to our
Government, and the answer given that
the Government had no knowledge Of
aDy such corporation.
This was clear case of On attempt to
obtain money under false pretences.
Ard yet to day this company is issuing
its stock all through the United States
",hick as leaves in Vallsmbrosa," and
without any value whatever, The cor
poration has ss yet no legal status what:
ever. In the State of Texas, as / have
Il Il l.xf fkaO Sat