The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1870-11-26

! Sl'' l'i SIisti'.
Tho road owes no debt except that
rowcd of the special school fttid, and
amounting, principal and interest, to
about So, 900. This i secured by :,
| mortgage ON the road. by an act of he
| late legislature the debt was funded
| and the time of payment CNtcndcu in
definitely upon condition Of Scmi-anu-
| nj payments of the interest lSt NovCn-
bCr and lst May, and two per cent, an
nually TO- the Sinking Fund. For the
purpose of extending the road to Halls
Willie and l.on|Nirw various sums of
| money were borrowed ut one and two
years, chiefly OF the Stockholders,
amounting to &209.27o 20. TO these
several lenders the notes of the road are
executed.
The directors of the road at Louis
willie, McSSrS. Monks, Cobb, Hall Il
Long, and Coleman, the latter lately
deceased, purchased for the extension
tho iron rails, spikes, chairs, locomo-
| tNrS, etc, cite.
| Tho precise amount Of the latter debt
| can not state, bat ii is confidently be-
lirvrd and "Xprctrd that the earnings
of the road III the next c"htcrn months
| Will pay every dollar it owes of these
| debts.
The title of the present owners OF the
road is without doubt indi<,Hioiic, and
| the road will very soon return large tli-
! NidcndS to its Stockholders even with
out Il further extension Westward.
I IT may be proper to observe that the
| line of our road, the thirty-Scconu par
allcl, is the i:,voritc and popular south
crn route to the Pacific Ocean through
! out the entire country, North and South
| and indeed it is the only one which, by
! its connections, could be truthfullN call
cd the "Southcrn Pacific Route" and
| when completed can afford to carry
freight and passengers at one half the
rates now charged on thcnorthcrn roads
| to the Pacific.
The Legislature of the state, ut its
last session, passed by more than two
| thirds vote in both houses It bill for the
benefit of the company, thus showing
the friendly spirit of that body. This
bill however, failed to become Il law.
owing to certain objections of the Gov
crnor of tn" state. I have no doubt,
however, but that ut the next session
| such Il bill will be presented rs will
| command the cordial support of the
| Legislature as we'll us Of the Governor.
| Our line of road is also evidently the
faVoritc route of the Congress of the
United States. During the last session
of that body Il bill passed the Senate
called the Texas Pacific. authorizing
the company to build Il road from Mar
shall, Texas, to san Diego, on the Pa
ciiic, Via El Paso, and along our line
1t makes the same donations Of land
and grants the same rights and privi.
IcgcS as were given to the Union Pacific
and Northern Pacific Railroads. That
bill is on the Speakers table in tho
House, and liable to be taken up and
passed in an early part Of the next scs.
sion of that body.
The members of Congress generally
seem to think it right and proper that
Il Southern road to the Pacific Dean
should have the same Government aid
and assistance rs was given to the roads
from the middle and northern States.
| And us Il principle of law and right, no
road chartered either by II State or the
United States can run over the line OF
our road without our consent, and as il
| is the wish of that body to have such !,
road built, there can be no doubt that
! we would be the bcnriciaricS of such 4
| chartrr If the members of Congress
could be made acquainted with ouI
ability and the certainty of our build.
| ing the road.
Thr people W"St Of Lungvicw an,
! very anxious that we extend our road
and especially those of Smith County
that We take il to TyIcr. Tho highest
figure which heard il suggested that
could b" raised in that county was
$500, eco. AS Lnugvicw is about II
miles distant from TyIcr, il will require
about 81 200, 900 to build the road (,
that place. The &3OO,OOO mentioned
would not fake the r4nd more than ter
, miles.
After the road has reached I.olrgvicw
this company will not, presume, at
tempt to carry il further west, cXccp
from the proceeds Ofthc sale Of bond,
unless the people Of Shreveport ant
those along the line of tho road (wh,
are Immediately intcrcStcD shall res
pond more generously to the call of Tho
company. All the many Owncrs of tho
road are greatly benefited by the cXtcn
sion, while the money is furnished ant
the hurthcn borne by the very rcw lib
cr;'l ones, who act from higher motive
than srli-agGrandizcmcnt.
Before closing, / desire to say tha
no road can be successfully run o
built without good officers, devoted t.
-thc interests OF the company. Withou
specially naming any one, ! must sd.
that since my connection with it, yo,
have been peculiarly fortunate in tina
respect.
Respectfully submitted,
w. y. IAuSEH, IrcS't.
, Special /" Cincinnati Commercially
> i:utIcr TO Succeed Fish.
> IT is believed among the better il
= formed that soon after the meeting
a. ! |, n fro