The sun. [volume] (New York [N.Y.]) 1833-1916, 1870-01-10
a LETTER FROM eES. FREMONT.
The Great southern Pacific Railroad line.
MEMPHIS, Ell PAso, AND PACIFIC RAILROAD
OFFICE 20 BROADWAY,
Nrru X1arl La. D do.n

/ fNffOr
| SIN. An editorial In ,ho I,,onsno M, os A..
| Nu 'ui'oiia IN Tue bee""y fp@ Oh the
otn INST attacking this Company obliges me to ask
| space In your columns for N renIv
| Tho acors,,,,r. a, ~. ''py'
.Aa...-.,. -, ~ n''Aes "elc I'll put forward
| vehemently throughout the past year, in Paris
| They were met there tegoi,, ora oro,au, a., -.
against their or,hors T,...,. " su,,'
cation there by parties interested in knowing the
exact truth il tho hest apsvor 10 mn, ,o,,, hoc,r,
| opr ppbiicho me- -. - - ,, -
inese parties are our bondhoGers,
iSed the Sd,nisaI n 'ns 1oIernment WHICH author
% ana te circulation OF our securities among
| M B's, - III; In 40. .,,..., A.. 49, -,
can c,, ~ ilsI' IN is sta'ement that 70 Amet-
lion or ,bP ~ al u,IneIIo peen Admitted 70 quota
' wy fI.uch bourse IL Is not right IN It's
sto,' . VI tnc heans USED 10 OBTAIN THIS admis-
sun MOI was was u sudden movement, originated last
resident agents h,J oa 'noIough work through
To- ren iu ueeh IN PROGRESS Tor more than
~ u9iihs Wnlch every possible Information
n.u Vesh i"u OeiVre lhe Government and parties in.
| "Ies.Vu
~ charter and franchises and laws enacted In
| Etlu 10 them, everything reLuing TO the country
through Which the road lies, ard the great CONNER.
ca results which would follow en- its building,
| maue luly known TO the persons With whom they
were negoualingi me permission to admit our Sc
ouii,.cs wa injury ootmhed upon Tue Understanding
anu agreement That tins admission should to
lhe advantage OF French industry, by applying the
greaier Iart OF the money obtained irom French
b,i, W Wy puroaase 0i IRON ana engines for the
| ou n. ana operation OF the road.
rms opening out OF new channels TO French trade
| on,ousu' mn0tthg OF the fostering care Of the
| G2Nernment. ms was the reason, and II was upon
| uitA'iNtdllNluE lhNi our lunO grant bonds
r,,, so" WIN tncy are upon their iaee-were adj
nni''eI W quon'luh ana sale. And contracts we're
aOCvldiinsy maie lor loOOO tons oi iIoG and cor
| 'V,,,Onu NM hulnoet OF ehslnes.
| uuf oondhOders, who were necessarily alarm cd
by those attacks, bad tie fullest means Of iniotma-
uon gwen them Their confidence Is shown by their
continuing 70 hold their bonds, and draw tie inter
| est Which they received In July last, and now N
| January.
| - My dates rom Paris are 70 the 2ai or December.
Up TO that time no SUIT whatever had been Instituted
| AGAINST the Company, except one by person
Claiming damages Tor refusing to let him have bonds
| to sel-uuder an alleged contract which the Com.
| pany rcpudates.
Our bonds were never withdrawn, nor was there
| thought OF doing 50. On the contrary, an addi.
tona sale for ten million francs has Just been made
and other NEGOTIATIONS are In progress with PARTIES
| having iull knowledge OF the condition vi the Com.
| The last Ofical act Of The French Government
which was the admitting 20 payment OF the taxes on
| the bonds and the accepting OF the security OF NAL
| let Frcrt, Tor their continued paymcnt WINS NOT
made until August last This recognition is the oil.
| rect ACT OF the Government, and was done through
to by the P9sO long alter ali these dscnssio1s bad
| been made familiar by INC Freneh newsnaners '1N
| The only real trouble to the Comp1ny came from
u source which 1t could not have fureseen, and for
winch It was not In any way responsible. We had
been for two years Auuying to Congress with n f1ir
prospec, Of success for it, authority and ana IN es.
tubh-hng our line. In the Congress preceding the
present our bill asking for subsidy had been amend.
cd by one king for guarantee OF interest On ac.
count VI the indisposiuon OF Congress TO grant
moucyed aid, this bill was again amended by one
asking simply the right Of way. ms bill passed
the Hone twice by large maiortlea m the close Of
misaSen IN PSris for the bIl also p"nInr IN T t5
House, which granted guarantee OF interest for our
| construction bonds flis mistake first reach 4 The
knowledge OF The COMPANY here by the French
newspapers, which had already spread It through
| France IL was uunounecd by them that III. mi
gave to our construction bonds guarantee OF rcr
cent But these bonds we're not In the maket an
| have not been offered for sale Tie bonds sold ON
The French market were land grant bonds Of the
company, which say what tney are on tneir face,
had guarantee OF interest. The error Wa confined
10 tle construction bonds, and tins was from an
error Of accident and not nom intention.
found That this which could have been a situation
easily explained aud corrected without difficulty had
been magnhed amt yenomed by rval aud hostile in
terests. Under the beet legal advice adopted such
measures as, ia my Judgement, would adjust aGsirs
with the least injury to lie Company. i.s bon lho,d.
ors contractors, and preserve Tor the Company
the strong position II had acquired. All the cxpaua.
tons needed for the information Of the pubic were
given, and aseInmonthy newspaper was establish
cd with the object OF keeping up iull information
concerning the condition Of the Company, and the
progress OF It's road.
In my Efforts to protect this really national work,
"As chiefly obsuucttd by the active and malignant
hostility OF rival railway interests, and oi certain
hnAnca! agencies which the Com any had omitted TO
( employ, ana by the unusual conduct Of the
American Legation, which became recognized
bureau OF information against our Company. \ h..
sauon represents ils rovcrnmcnt' an us oncial
| position cannot be personally used, THIS conduct
Of our Legation, NAicl never n any referred for
Information to the Complnys ONCE IN Pans. but
constituted Itself the partisan OF our opponents,
was accepted as expressing IN the usual WY the
views OF our Government toward tue Memphis.
Pacific Us national road, and the standing and m.
formation IN W,hcn y was heii ~ home Among
other acts VIII at tins time only cite that | was
given TO read letter from the L. sauon 20 the req
rcseutatNc OF an adverse railway interest, to tie
elect that tue Memphis aud II fl~o ROAD was a
speculative enterprise without foundation
III respect 10 the risht oi way when we aie ask
ing there only remains now Tor C,ngre-- 70 grant a
sumo Ger9-s lne territory OF New Mexico loOn.hc- m
IchB'h, Tue rest haNlhs Dteh acquired IRON private
corporations.
We own 1no control IN NrSansas thc Memphis and
| Little kCck Railroad In leAas, the Memphis and
| III Paso COMPANY has iullY complied with the cun-