The New York herald., 1870-01-10
MEMPHIS, FL Plso AVID rAs.s.C RAlLR0AU.

MEMPHIS, FL PlsO AID rAs.E.C RAiLROAU.
sEt I ~-~~~~-~>~~>~~~~-->~~~>>~>~
ss35N N4 NEW YORK, Jan. q lsso.
To THE EDITOR OF THE HsRALD:- *eefs
An editorial in an evening paper OF tho 6th inst
attacking this company oblges me to ask space In
your columns for repy. Tue accusations 1t makes
were all put forward venemelty throughout the
past year In Paris Thcy were met there legally ana
oilcally BY suits against their authors. The result
Of strict investigation there by parties interested In
knowing the exact traIh ~ the bsst answer TO pus
now before toe pubic here. These parties are our
bondho,ders, contractors and the government which
authorized the adm Of Donis to the French
Exchange ana tine cir,uiAnoa OF our securities
among the French people. A&.9sa
Tue Post il right IN It's statements that no Amerl.
con company had hitherto been admitted to quota
tion on the French Boursc. II s not right IN it,
statement or the means used TO obtain this admis.
sion; nor was 1t a sudden movement originated
last spring. Persstent. s.eaay tnorough work
through resident agents mad been Ia progress for
more Jnap two years durlny wnica every possible
Information nd been iali usorc Inc government
AN parties interested. ~ sr H
Its Garter AMI franchises am laws enacted In re-
gard " tnein fytnillx rc,Lti IL tO the country
Lurough which the road hes, anl the great CONNER
c'al results wricn wou looS ON its building, were
MADE iuiy known to tic persoaS with whom they
were nex0uaIinE The peral s5ion 10 admit our
secuii..es was llally oD,aned uol tHa una-v1sa1~I
ing ana aSrscasn. a,n, saas ins adnsslon should
.ng greater part tle money obtained
from icncn people 70 the purchase Of iron and
engines Tor Tue bu.d.n ana Gr 4tloa OF the roar
lhis OPENING out OF new Channels to French $kada
Was thought worthy O tne losS ring care of me oov-
ernment inns was sns recon, anl i was dpon
wnlch snow what they ara uno, rueir face-were
c Wee acoor1.-s -..oa ami and contracts
. COZ -h Il, lnLle for io.J,o tons OF IRON anu
.respoadlls ntinoer Of eignc5
our pondp ohiers who were neccssa sarIlv alarmed
by those attacks. nad u3 iu est mems OF inlofma-
continuing TO hold I'll sir Doats ala draw the iner-
Isl, waica they rcceivei Ia Juiy last aad now IN
My Jates from Pari, arc TO sls ga OF December.
Up 10 that I me SUI whatever nal been lnstl-
tuted against the company except oae py ~ pefson
70 sell under an alleged Contract "Aic tue company
repudatcs.
tnougnL VI doing So Un Inc contrary ua aoditi0nal
Tor i0,O5O,uojk. has Just been mad4 and oth@r
negot ATOMS are IN prosfess WIN rarties navlng
Iull knowledge of the conaiton u tae company and
all the ~ saaits upoa IT.. .yt,.....---.,.,1
wnicn was tue admitting to pawn ens VI the taxes
me Donos and the &C cepLa,s vi the security Of
made until August last. Tuis reaoln,ton Is tho
direct act or the government ana Was done through
NJ. Magne himself ltne .Linster oi Fnance reierrei
TO Dy the PosG oag alter ai ta.se discussions hai
been made familiar by the french newspapers.
| rne only real trouble W the Company came from
source which IL coaid noe nava lores.en aud tor
| wn.ch It was not 10 anv way rsspoLs.Die. We hat
been ior Two years applying 70 .ousr s. WIN far
prosprcJ OF success. its sutnyrty aud aid IN es
Lauisnlng our .iue. In the Congress preceding tho
| present our bin asking ior SUBSIDY mad been
amended by one asking Tor uuaranfce OF interest.
OF Inc lndispos,tion Vi congress To grant
| moneyed aid tne Dil Was again amended oy one
| asking simply tie right o, way. TINS ~, passed the
| House twice oy large maJorlIies at the close Of
| one Congress aud inc Dcsihning Of another. II
| penuing Ia the House whica granted guar
| aDtee Of Interest Ior our CONSTRUCTION pOnos.
| rnis mistake INST rclclsl sue AIoviedye OF the
ANNA NJ here ~ a.
already spread IT through graice. IL was announced
ny THAT TINS bii gave 10 our cons ruc.ion bonds
guarantee Of SIX per c;nL. but iLsse bonds were
| mol ia the market. AMI nave aoS oeen offered lor
| SAFE. The Doals sod II tme fielcn market were
they are their face. Neitner Jolfn rs nor brokers'
ever said tnat taese had Huaranree OF interest.
Tne error was cOalneL 70 the CONSTRUCTION bonds,
aaa luis Was from an error Vi accent ANA not from
| intention.
found That Ghis, wnica could nave psea situation
| easily explained and cO.rectci Without dii1cuty,
| haI ueea magninsd aaJ enYen)mei oy rival and
hostile interests Under Tie best legal advice
adopued such measures - IL my llismeut would ad-
just alars with me east ilJulv " zoe company is
| ooIdn0ders or CONTRACTORS uld preserve ior the
| company the strong tOsitiol ma aclureL AN
tue expanaiols needed ior the luformaliol OF the
pubic were given, ami \ seni-ino tttiy newspaper
Was estaUiished witn tae ooye:S VI Aeepn2 up Iuu
Information coacern.n. IN, couditioL u Inc c0u.
| pauy and the progress of its road.
In IN, e.Orts 10 protect L.ils really national work
was chlely Ooslructed W the active aud malignant
hostility Of rival railway Interests ana uf certain
nuancial agencies winch iae Cuup pay hai omitted
employ, ANA Dy the unuua. coa .aeL oT the Ameri.
can legation, waica became recosn.led bureau Of
Information against Oar company. legation TO
pIeseat5 It's yUvcrnneut, AM III oAlcla position
cannot De personally used rais condict OF our le-
gariUn which aug referred Tor lif0rma-
C1on to the c0npalys ohlcc IA kas, uit Constituted
iCsei the partisan Of our opponents, was accepted
expressing III the usuai way, tile yleWs OF our
government towards the sicllpais pacic as . ma
Ii0nal road, ana tao standtiI dni nofu. alton IN
| winch II was held ut nome Anlons otner acts /
VIII, at this tne oliy cite tuat was 9i,el TO read
letter from the legation 20 the reprcsshssiye oi an
adverse raiway interest to me e'ect tha me Menu
nIs aud Il! paso ROAD was speculative enterpri6A
| WitaOut IOllndaLlOn fF
| In rospeett, the right Of way, winch We are ask
ing there only remains no for Con res, 10 grant
strip across tie Territory of New Mex CO JJ miles
IN ,cnlih-the rest haylaI Decl acl.itci from prl.
| vate corpora.lols. AN
| We owu anu control in Arkansas the Mcmphis ana
Little nock aaiiroad. IN Texas thc .aesnpnis and
III PasO Company mas fully comp.ied wsd tle condi-
tons OF It's cnafter, givns Us t.e ow.ielsnip and
control OF tie line throl sh tnat Slaue. IA -Arzona
| we nave purchased ani own tho charter Of the Ari-
z0nA COMPANY, vi wnich the Lac tiavGfse5 that
Ierfit ry, anu nave Complied with tac Conditions Of
| It's Charter. .E
| Charter, franchises and properly VI the Oiego
aud CHA Southern Pacinc AMI Atansc railroad
| Company, walcn traycrses tdac staie-inciuding
| SuJJ acres OF land Ia tne 0.roor OF san lego. In
tle haluor or norfolk We over l,bJ3 ifc.eS. In
addition 70 these contracts aud arrange tents nave
| been made BY tao coliptly witn othr. sOlls
| we nave con,.acted with the Wcs.esn uiion Telo.
graps company 70 put up q .ine OF teio sfapn a.onS
| our ROAD. Arran-elue.lS are partl, ieled for
establishing scan irei2nt ald ein,s,aat llne be-
~ eea Anvers aud Norfolk in couaec.lun with the
| company. We nave corps or elgil4e.a engaged
| IN locating tine Saa Diego and .ta are in
deblea to Tue war Department ior ..liiary proteo-
ton 70 our stryeyl1S pirties anu o eruiIsslon 70
purchase thcr supplies lroln tla cove. depotS
| III tnat lllrter.
| undeg actual circumstances 1t IS not 100 much to
say tnat the lubufe Vi Tue road mas regarded ~
secured Notwithstanding tae stf4 Hgii % the COM
| piuaiou against H. our contracts ass the course
| vi unfuterrdpsol execution. ,iieaic4itS VI rails
have began W reach New .r.clns. al, tie ilss ten
en9tnes VIII b. ready Tor oenver, AZ The end
| Of February. We are nOoIv 70 lR me rails
on the IeAas dIvisioD. Iuc MeMpnS aud Little
Rock iload. vi winch 100 nes are 10" ~ opelatiOns
win De iuy co.DplcteJ uy eae Isl oi Jl y. Win tue
/ Work progress We arc elpecc.ng IT, iitso at least
25J initc5 oI IN operation Ds.ofe tRe close Of
! tlls year, with e,Oinated ne. nls9uie or over
! $1,000 005.
/ regret to have to ask 50 much space, but even
this "a only suiicieuL the III. .eT rapid
mary tnaL does not do justice 20 tli .aue or tao
wora accomplished. IL Is Da,eiy 80 .isns 10 give
the puunc opportunity to compare Statement OG