The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1870-01-08
From the Louisville Courier journal
FREMONT & co.


FREMONT & co.
The Memphis, Ell Paso and Pacific
RAILROAD Company.
The special correspondent of
the Courier-J ournal, at Washing
ton, gives us some hints as to the
management of this enterprise
which are decidedly interesting
to parties who are. acquainted
with statements heretofore made
by them, and with the actual sta
tus of that concern. This special
correspondent is, or at least says
he is, a Director in the scheme.
Certainly he takes a. great inter-
est in it if the piles of stock he is
represented to have in it are not
exaggerated. 1T is, we think, we'll
to examine into the status of the
immense corporation since it is
now before the Congress Of the
United States for Endorsement
and assistance. The company
was incorporated prior to the war
by the Legislature of the State Of
Texas, with liberal donationas of
land and a moneyed assistance
from the State, and it's line loeat-
ed through rich section of coun-;
try, it's charter subject to certain
lilAitationsan and RESTRICTIONS. P rior
to the war it presented, it's Claim
for ten sections of land to the,
mile, representing it had graded,
ready for, the superstructure: sixty
miles of road. By the assistance
Of the then Governor those lands
would avepassed into the, pos
session of the company, had it not
been for the Commissioner OF the
Land Office, who refused to issue
the patents therefor. on the,
ground that none Of the grading
had been completed Am exami-
nation revealed the fact that the
SO called grading consisted of
some half dozen furrows run by
plows for the distance claimed.
The road remained in this condi-
ton till the end Of the war, the
officers of the road maintaining e
that their charter and franchises
were intact and fully sectlred; but.
during the session of the State
Convention they had a resolution
introduced, providing that the
years of the war should not be
counted against, the company as.
affecting its charter. This was
referred to the Committee Of In
ternal improvements. This COM
mittee laid the matter before the
Attorney General of the State,
who reported that the Memphis,
El Paso- and Pacific Railroad Com
pany had forfeited its charter and
had no legal status whatever in
the State of Texas; wherellpOn
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 company which went to
France, and, according to the
statements Of it's 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 a car running, and
under the management of Gen.
Fremont. Fremont did go to
France and, while there, made
representation which, if true,
would have entitled him to credit;
but, unfortunately, Minister Wash
burne exposed the fraud and
pricked the bubble.
Gen. Fremont publicly adver-
tised, and I have now before me
the "Mon de IzlustYe,'' of the 18th
of May, 1869, in which it is as
serted that the bonds of the Mem
phis, Ell Paso and Pacific Railroad
Company were endorsed by the
Government Of the United States.
The matter was referred by Minis
ter Washburne to our Government
and the answer given that the
Government had no knowledge
of any such corporation"
This was a clear case of an at
tempt to obtain money under
false pretences. s->zys e..