Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1870-02-12

pany eame from source which u
could mob have iereseen, and for
which il was not In any way re'
sponsibls. We had been for two
years applying 10 Congress, with q
iair prospect OF success, for is an'
thority and aid in establishing our
limo. In the Congress preceding
the present, our bill asking for sub
sidy had been amended by one ask
ing for guarantee Of interest, On
account OF tho indisp0stion Of Con-
gress 10 grant monied aid, this bill
was again amended by one asking
simply for tho right of way. The
bill passed tho House twice by large
majorities at the close of ono Con-
gress, and at the beginning Of an
other. 10 was mistaken in Paris
for the bill also pending in The
House, which granted guarantee OF
interest for our construction bonds.
This mistake first reached tho
knowledge Of the company here by
the French Newspapers, which had
already spread il through France.
II was announced by them that this
bill gave TO our construction bonds
a guarantee OF 6 per cent. But
these bonds were not in the market
and have not been offered for sale.
The bonds sold on the French mar.
ket wero land grant bonds Of tho
company, which say what they are
on their faco. Neither journals nor
brokers ever said that these had in
terest.l Tho error was confined TO
the construction bonds, and this
was from an error Of accident, and
not from intention.
When reached Paris immedi-
atcly afterwards, i found that this,
which could have boon u situation
easily explained and corrected
without difficulty, had been magni-
fed and envonomcd by rival and
hostile interests. Under the best
legal advice, adopted such meas
urcs us in my Judgment would ad-
Just affairs, with the least injury to
tho company, its bondholdcrs or
contractors, and preserve for this
company tho strong position it had
acquired. All the explanations
needed for the information of the
public wero given. and semi
monthly newspaper was established,
with the object of keeping up full
information concerning the condi-
ton Of the company and progress
of their road.
In my effort TO protect 'his really
national work, was chiefly OBJ
structcd by tho active and malig-
nant hostilities of railway inter
ests, and of certain financial agcn-
cics which the company had omit
ted to employ, and by the unusual
conduct of the American Legation,
which became a recognized bureau
of information against our compa-
ny. A legation represents its gov
ernment, and its official position
cannot be personally used. This
conduct of our legation, which
never in any way referred for infor-
nation 10 the company's office in
Paris, but constituted itselfthe par
tisan of our opponents, was accept
cd as expressing, in the usual way,
the views of our government to-
wards the Memphis Pacific as Ma
tional road, and the standing and
information in which it was held
at home Among other acts, will,
Mt this time only cito,' that ] was
given to read, Il letter from the
Legation to the representatives OF
an adverse railway interest, TO the
effect that the Memphis and FL Paso
road was a speculative enterprise
without foundation.
Tn respect TO the right of way
which we are, asking, there only
remains now for Congress TO grant
a strip across the Territory of New
Mexico, $50 miles in length, the
rest having been acquired from pri-
vate corporations.
We own and control in Arkansas,
the Memphis and Little Rock Rail
road. In Texas, the Memphis &
ri Paso company has fully complied
with the conditions of its charter,
giving us the ownership and Con-
troll of the line through that State.
In Arazona we have purchased and
own the charter of the Arazona
Company, of which the line trav-
erses that territory, and shave CON-
piled with the conditions Of its
charter.
In California we have purchased
and own the charter, franchises and
property of the San Diego and Gila
Southern Pacific and Atlantic Rail
road company, which traverses that
State-including 5000 acres of land
in the harbor of San Diego. In the
harbor of Norfolk, we own over
1 1000 acres In addition to these,
contract arrangements have been
made by the c5mpany with other
roads.
We have contracted with the
Western Union Telegraph Compa-
ny to put up line of telegraph
Aaiong our road. Arrangements are
partially completed for establishing
a steam freight and cmigrant line
between Anvers and Norfolk, in
connection with the company. We
have corps Of engineers engaged
locating the San Diego and Gila
line, We are indebted TO the War
Department for military protection
TO our Surveying parties, and for
permission TO purchase their sup
plies from the Government depois
in that quarter
Under actual circumstances 1t Is
not too much TO say that the future
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