Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1869-11-06
Mrmphis and ~ rrso nnIl-

memphis aud ~ P'so Rail-
ROAD.
Col. Epperson has kindly furnish
oil us with the following facts in
connection with his negotiation for
tho Memphis and Little Rock Rail
road stock; Tho proposition sub
mitled by the President of this com,
pany TO the CITY Council Ia reference
to tho stock of the Memphis aud
Little Rock Railroad, rs we'll as lhc
general interest oVinccd Ia the
American and European press cun,
corning this company, have induced
Us TO make Inquiries, and 10 submit
10 the public tho result concerning
the purposes aud measures of this
company, AS its namo indicates,
this company is engaged in the con,
structiOn of u railroad TO the Pacific
Ocean, with n terminus upon the
Mississippi river at Memphis, it
Vas incorporated by tho State OF
Texas TO build this road on what Is
known as tho thirty,sccond parallel,
which is known TO bc the best route
for n Pacific road. TO enable il ii
do this, tho State Of Texas donates
TO il eight millions Of acres of land,
to DO taken in alternate sections
along the line of the road, The value
of this land is believed To 10 not less
than forty millions of dollars, as il
passes through the finest agricultural
lands in the South.
Tho company has adopted the
same policy which was pursued with
so much success by the Illinois Cen.
iral. 1t has mortgaged its lands
and issucd bonds upon them. and
found u market for these bonds in
Europe. 1t is the only American
railway company which has eve:
succeeded in Introducing its bonds
upon the French Boursc; and they
are there daily quoted, ranging from
seventy 10 eighty cents gold to the
dollar. This privilege, claimed in
all other cases, was accorded to this
company BY the Emperor of France
upon tho memorial Of the company.
The company have purchased their
iron in France for the first one hun
drcd and fifty miles, and this is now
being shipped to New Orleans at the
rate Of from fifteen TO twenty miles
per month. And rs this was tho
first instance Of an American com.
pany buying its iron in France, the
event was celebrated by Il .fttc nj the
iron works, and the cars which boro
to Antwerp tho first rails wore
crowned with ribbons and flowers,
because it was believed TO be the in
auguration of new era, by
opening direct trade between France
and the Southern States. A large
force is now at work in Texas, and
eighty miles of the road is graded
and ready for the iron, and the com.
pany is getting all the labor it posi-
bly, can got to work on tive road, and
has made arrangements for Chinese
laborers.
1t has purchased the San Diego,
Gila, Southern Pacific and Atlantic
Company Charter Of California, and
obtained thereby IFS grant of land,
1t owns niTe thousand acres ut the
city of San Diego, upon Il part Of
which that city is Faid out. This
alone is estimated by competent
parties sent specially to ascertain
its value to be worth three millions
of dollars. 1t has also purchased
the Arizonian railway, and thus
made its connections complete to
tho Pacific ocean. The schcmc en-
braces through road across the
continent, from Norfolk, via Mem,
phis, to San Diego, and the work Of
construction of the incomplete parts
goes bravoly ON. But only few
days since work was commenced on
the Pacific division ut San Diego,
and four corps Of engineers arc now
in the field locating tho line ofroad.
TIE company applied to the Sccrc-
tary of War for an escort, and the
Secretary Issued orders to the com
manaants of posts along the line to
furnish protection and all the ficili,
ties they could to enable tlre work
to be conducted safely. 1t is impos-
siblo to ovcrato the Importance of
the success of this scheme to Mem
phis. 1t is not necessary to say that
it will add many millions to the
value of her property.
Memphis Avalanche.