The south-western. [volume] (Shreveport, La.) 1852-1870, 1869-06-30
The Southern Pacific.


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The Southern Pacific - w
THE ROUTE WHICH LOUISVILLE OUGHT TO PATRoNIsE.
From the Courier-J Journal
In your issue of June I'd the following paragraph ap-
pears, speaking of the railroad from Shreveport to
Marshall:
"There now no railroad enterprise in the country
that is attracting more attention or that can present
more coneut arguments favorng its extension
the continent And just here it is we'll to remark that
advised that, of all the railroad projects now
before Congress soliciting aid this is the only one
making any progress; and what is still more worthy
of oce it is the only in which parties interested
have sufficient confidence to invest their money"
Whilst the writer have possible objection to
the progress of that enterprise it is certainly untrue
statement which is made above. This corporation, in
which some of best citizens Interested became
theirs because the former officials had run it down and
could not repay the money which had been loaned
The late Col Hail. with great industry, endeavored te
put the road good ORDER and made arrangements to
extend it twenty miles. 1t is a local road though
ha wing the right by its Texas charter extend west
ward through that State. But during the past winter
so little did its managers for the Texas privileges
that they made arrangements with gentlemen who
desired to obtain aid from Congress, to construct
road on the 35th parallel. DETECTING from the line
which they were authorised to build in Texas, Col Hall
projected his road to the north and abandoned the
Texas line Nolwithsta, ding the written agreement
Mr. Hays of the Atlantic and Great Western, failed to
put the Marshall and Shreveport line in the Omnibus
BILL which asked IA millions from Congress; and the
bill ITSELF after being reported, was never called up IN
either house for action II this Marshall and Shreve
port line is now before Congress soliciting aid, and
the only making any progress it is news to the
| writer and will be to many other persons.
| The Memphis, Ell Paso and San Diego Pacific rail
road company has been and is before Congress, and
has twice been endorsed within the last four months
The right of way to the Pacific was passed in the For
tieth Congress- by III 45 in the Forty first Con
gress by O2 49. No action has been taken by the
Senate though forty Senators have expressed their
intention to support it. In the late convention al
Memphis the unanimous expression of opinion was fol-
this line and the friends of the measure acted upon the
suggestions Of one of the Executive Board, Col Banton
Duncan who member OF the Pacific railroad com
mttee and had full powers from his company. The
Senate committee upon public lands reported back
April 8, 1869, the bill with the proviso amendatory Of
the House resolution:
THAT said company SHALL within two years, build
branch road from Marshall Texas, in direct line
westerly as practicable to connect with the main line
of their road the Goth meridian of west Ion
gtude" =
Thus the Senate seems to have ignored any claims
on the part of the Marshall and Shreveport road to
tend its line and las the friends of the Memphis and
Ell Paso then thought rather uniustly. The Memphis
and Ell Paso Directors did not ask for this amendment
nor do they desire it, And if the Shreveport people
can build the line within the time prescribed and can
give proper assurances that penalties will ensue
from their failure against the Memphis and Ell Paso
there will be the slightest objection the part OF
the latter road permit the former to build this branch
and take all the benefit. Indeed, it will require all
the energy and all the influence of the Directors tc
attend to their main trunk of nearly 1000 miles
! The act of Congress provides:
| "That the said company shall complete the con
fbair
ferson, Texas, within year, and SHALL in each sue
ceeding year, construct in continuous line fifty miles
at least of said road and failure to comply with this
condition shall forfeit much of said right of way
occupied by the completed road of said company
and shall fully complete and equip their whole line OF
road within years from the approval of this act"
| By this provso the Government insures good faith
| and diligence upon the part of the company. Ten
millions of its first mortgage bonds have been sold on
the Paris Bourse the only American railway securi
ties which are quoted in that exchange. telegram
from Gen. Fremont of the Doth May, was read to the
| Memphis convention:
| "Our bonds are selling on the Paris Exchange at
| 79, gold"
That equals l12 in greenbacks, at present rates Of
gold and exchange. The money thus secured will
bud.and equip about 800 miles of the road The iron
is contracted for and the line will be pushed soon
Fremont returns from Europe and the directors de-
| termne minor details
lue uiTectOfS CuupTlSe luuUti VI HcLfhuonH
gentlemen among them Gov. A. J. Hamilton Gov.
| Throckmorton, and Col. B. Fl. Epperson, of Texas:
Gen J. C. Fremont Mr.. Dodge, of Jay Cooke & Co.;
MIR Butterfed Mr.. j. T. Sanford, Mr.. Van Ness, and
Mr. Donaldson, President Bank of North America,
New York city; aud Blanton Duncan, of Kentucky
| The New York directors mionaires themselves.
The company did not ask for aid from Congress, be-
cause with the negotiation secured in Paris it was
deemed unnecessary at present. The completion OF
| 800 miles of road would give three millions Of
acres of rich land surveyed and reserved for the
corporation and with that security believed that
several hundred miles of road could be built and
so on If the theory should not prove correct Con-
gress undoubtedly would give the aid of its credit by
endorsing the interest of 50.yesr bonds and taking
first mortgage bonds security and the opposition
the road has been so fierce and untrng, because
subsidy was demanded, that of its friends sug
ges that small Endorsement ought to be asked for
to pacify the infuriated lobby.
The Memphis and Ell Paso will be built within five
years.
1t the route above all others in which Louisville
and Kentucky interested for the line of travel from
the Pacific to all the Eastern cities north of Norfolk
must come through this State. The development OF
Northern Texas and the access to New Mexico, Ar
zona, chihuahua, Durango, snaloa and Sonora will
bring more commerce to Louisville than all she now
enjoys. And with her traffic than doubled her
population will increase correspondngiy, and her pro-
portions will be metropolitan before ten years have
passed. I'D.