The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1869-05-06
Accrued interest on first mortgage
bonds In course OF being funded
iu second series mortgage bonds


.i.fiN-7N
Na.v.tasaulia- Gle reduction of reecir
s. during the la-t yelr and che continued ID
u. pIoVcWcut- shade Ia ti. ra4I aud rolling -tHc
{, ne hqauuE dea- # tl' company ha- H-an D
~ dUccI $1,000 al. 81. follows
- TIE boating delr au tle -stH III Eth-
III rulrv ISIS. was ......... siiai .l-f
y on the 2sth February. $50 II was. Ulo 40
showing decrease during tile IL
- months 10 over. .-......- s3.Ust
y The commerce or New Orleans being 10
, juriously Affected by the heavy charge,
: freight,. drdyages aud other expenses al
! tending the receipts or shipments 81 good
\ i behooycs all transportation companies {
II devise means OF reducing those charges 10
: minimum. The New Orleans. Jackson au
Great Northern Railroad Company has al
ready made great annual reductions I'm be
{ | freight charges since the war. aud will con
tinuc 10 do so As rapidly IS circumstance
VIII permit. \ great saving In drayag
alone can te obtained by continuing 10
road 20 the river either within the limits %
this city or Jefferson City. thence down th
river front 10 the Poutchartraiu Railroa,
depot. at the foot Of Girod street. 4 dray
load of fourth class freight- from the rive
70 the railroad depot, distance Of about I
miles costs about as much a. the freight uf
the railroad from New Orleans 10 Pom
tch3toula as miles which is nearly cqua
70 the quarter cost OF trans portatiou over the
whole length Of the road, and dayage on
fractional loads (Which constitute generally
the orders of planters and private families
y nearly equal TO tile freight from New Or-
leans to Canton.
II this extension were made, we could be
able 10 connect with the pontchlrtraip
/ Railroad on the river and 10 establish %
I depot opposite Gretna for the receipt Of cat
Tie, etc. from the Opelousas Railroad. We
. would also pass close by the grain elevator
/ at the foot of Harmony street. which would
ehauic rs as soon as the Mississippi Central
/ Railroad shall have been continued To Padu-
/ cab and bridge constructed there across
| the Ohio river, probably i'm about two ycar-.
/ 70 bring down grain from Illinois and the
| West, when the Ohio and Upper Mississippi
are either frozen or TOO low for navigation.
which Is the ease several months in the year
We have been trying in vain for the last
year 10 get the right of way 10 the river
1 from the City Council of New Orleans.
Beng unsuccessful. we CadeaNOrcd 10 obtain
e from the Legislature. which had granted
H. al is preceding session, to the New Or
leans Mobile and Chattanooga Railroad, a
new company, in which the State OF Louis
laHa ana clty OF NC-V Orleans own 10 -tOc X
whereas they are Interested in this company
the first TO the extent of 6L0aa shares, and
the latter 10 that of 10000 shares / regret
20 inform you that our efforts in the Lcgis-
laturc with no better success than with the
City Council, who have our petition still
pending before them.
The question of the extension of the road
north OF Canton Ina, occupied A large share
ofthe attention OF tho Board during the past
y
tions and the intrinsic merits OF the enter
prise. The road has invested north of Can.
ton. S51l. 600 which is at present utterly un-
productive, and even deterio@ating from the
action Of the weather.
The earnest desire of the citizens Of that
section Of country through which this cN-
tension would pass, 10 see this road built
and their promises of hearty cooperation,
together with the increased general pros |
pcrity of the South, seem 10 render immedi- .
ate action advisable.
Upon examining the question tle many
advantages of masking Decatur the objective ]
point, rather than 1AicAasaW Blun. on the /
Tennessee River. were sclf-apparcut. De /
catur j. closely approximate % an air line |
through 10 Washington and the eastern sea- 1
board, and !. The terminus OF the Nashville /
road. with bridge already built acro-, the f.
TeuUc--ce river. Under the advice. there .
fore, OF the Board. have caused "a prelimin- /.
airy survey 90 De made 5s competent civil ]
engineer Of the line from Aberdeen 10 De !
catur with very favorable results. ! regret /.
that his field notes are not sufficiently work F.
ed up % permit my submitting them mere
with, as was my intention. But ! refer YOU .
to the synopsis OF his future report marked /
"A
Upon examining the financial question .
involved In the construction Of this line Of I
2i2 5-l2 miles II was found that the low
,alue OF the stock Of this company offered .
almost iusuperable obstacles TO obtaining
the subscriptions of land. labor and money,
other wise freely rendered along the pro-
posed line. The best disposed ofour friends
hesitated before paying 50 for a stock that
Is worth but 50 or 81 In open market. u
was. therefore, decided that an independent
corporation should be organized under the
stylc of the Decatur Branch Railroad. uu-
der the influence and auspices of this road, to
undertake this work, and 10 which this road
would subscribe the amount already invest
.d in earth work. graduation, ETC. north Of
Canton. az well as such assistance "a could
be Afforded iu'tFc shape of rausportdtious,
ETC. 4 bill was prepared for the last session
IF the Legislature Of Louisiana that the
plan should have some form and con-i-tcuCe
which act will subsequently have 10 be con. 7
irmed and ratified by the legislature of
Mississippi and Alabama. And "A resolution
Ias been prepared. which is submitted here
With for your consideration, by which you
the Board ofDirectors 10 subscribe
o the decatur Branch In the name OF this
company when the work shall have been
lone.
From the tenor Of tile letters OF our friends
d the several counties through which thi.
inc wOuld pass. we have reason 20 hope that
besides considerable subscription in cash,
abor and materials We would obtain a land
Of from twenty-five TOMMY per
.cut. ofthc area of country traver-ed. which
would be o sufficient basis tor au issuance of
JOnds-enOugh 10 iron tie whole road and
meet the cash outlay required. The follow
ng is the resolution referred 10, which l.
for your adoption:
BE it resolved by the stockholders Of the
\cW Orleans, Jackson and Great Northern
railroad Company. I'm general assembly
convened. That the President aud Board
II Directors of the New Orleans, Jackson
md Great Northern Railroad Company are
hereby authorized and empowered 10 sub
cribe the amount OF the present value Of
he work done north Of Canton 20 the capital
tock of au incorporation. (the organization
If which j. hereafter To be perfected under
NnHaH HH44nI Il
company" with q view OF extending line
If railroad, in connection with the New
orleans, jackson and Great Northern Rail
Dad Northward To the Tennessee river, and ,
o give such other AID and assistance, az can
% afforded without dctrimens % this COM ,
ANY, To such company, and take pay for TIC
anne In full paid IN capital stock.
TO show ia what favorable light the Mas
crs in Chancery, appointed bF the hlted
states Circuit Court looked upon this pro-
posed extension, they state as follows. In
heir report herewith accompanying mark
u -"
when the road l. extended, by the way Of
aberdeen 20 the Tennessee river thus FORM
ny connection with Mcmplii. and tharlc.-
on and the Nashville and Selma roads, ~
designed, the company viii have
me Of the most valuable roads in the south.
as IL would. q country OF i'm
nense fertility and ineNtiole resources, 10
would bring new fields into cultivation, in ,
rease the commerce ofthe South and vastly
augment the trade ofthis city. We haye'uO
iOubt that as soon rs the political difficulties,
which now paralyze every branch OF indus
ny ia this section. are settled. capitalists
viii take hold Of this great enterprise and
zee that il j. accomplished.
The cost Of the extension from Canton %
berdecn 1929. miles) l. roughly estimated
~ the engineer, Major i. H. Greene, In
barge OF the survey. at about s21JUUO0, and
rom Aberdeen to Decatur. 1888 niles nc
bout S3,2i0,000 or about S6,OOOOOO for the
whole distance.
The decrease OF business on the road ia
se7 is accounted for very correctly in my
opinion, by the General Superintendent IN
IL repOrr of that year, az follows: