The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1871-04-29
THE TEXAS PACIFIC RAILROAD.

nccting Of the Incorporators.-Thc Pre- :
iminarY Issue Of Stock All
Subscribed For.
From the New York WORLDLY
The incorporators of the Texas Pacific
Railroad met yesterday noon at the
Office of Marshall o. Roberts, corner of
West and Warren streets, as a Board Of
Commissioners for the purpose of talk
ing up the primary subscription of
$2,o00,000 of stock required by their act
Of incorporation. Among those present
were Congressman Hays, of Alabama;
Mccormick, of Arizona; and Sheldon,
Of Louisiana; eX-Congrcssmen Schuma-
cher, of New York; Sherrod, of Alaba-
ma; Roots, of Arkansas; Bowen, Of
South Carolina, and Buck, of Alabama;
cx-Senators McDougal], Of California,
and Harris, of Louisiana; Ex-Governor
A. J. Hamilton, of Texas; State Senator
J.J. Kinds, OF Alabama; Generals Ros-
ecrans, Fremont, Buell., Ncgly, LIE Few
re and Coon; Colonies b. r. Grafton, Of
| Texas, and John d. Brownlow, of Ten
nesSec; Judge j. J Noah, of Tennessee;
Tim Hurley, the s'grcat railroad mani
pulator of the South Carolina Legisla-
ture;' Gordon II. Wilcox, a prominent
railroad man of Mobile; DIR. Emanuel,
President Nicksburg and Meridian
Railroad; General George Nancy, Pres
ident Tennessee Pacific Railroad; Thos.
b. Scott, President Union Pacific Rail-
road and Vice-President Pennsylvania
Central Railroad; Emanuel Il. Hart, of
New York; John w. Forney, Colonel
w. w. Worden, OF Washington, and Il
number of other prominent railroad
men and politicians.
! The meeting was organized by the
appointment Of Hon. NJ. o. Roberts to
the chair. Mr.. Roberts briefly spoke
of his already large interests in the de-
velopement Of Texas, his confidence in
the success of this enterprise and his
Willingness to render to its manage
ment all the assistance in his power if
he were permitted to take II majority of
the first issue of stock.
> On motion of General Rosccrans, it
was resolved that Mr.. M. o. Roberts
be permitted to take II 200 shares now
to be issued.
1t was further resolved, on motion of
Mr.. Roberts, that General j. e. Ere
mont be permitted to take 5000 shares.
This left 1000 shares to be subscribed
for among the other incorporotors, and
on motion of Mr.: MoErgn1|,ns, it co;;alv {
solved th 5aftat or, not already namcd to
l. llHlllcA " lHlS-NSci ,
shares of this issue.
An amendment by Colonel Brown
low, to the effect that incorporators
might subscribe for their friends, if
they did not wish to take the stock
at this time, was accepted.
Half an hours recess was then taken
for the purpose of allowing incorpora-
tors to subscribe for their allotted por-
ton of the stock. In less than that
time was all taken, and ten per cent.
thereon paid in, in cash. The meeting
then adjourned sine die. Another
of stockholders, for the pur-
pose of clecting officers of the company,
will be held on Monday, 18th inst, at
II o'clock noon. Both Mr.. Roberts
and Mr.. Scott emphatically deny that
there has been any conflict whatever
between their interests Or any contest
us to which should obtain the Preiidcn-
cy of this company. Entire unaninlity
has pcrvadcd the cOunseIS of the lead
ing incOrpOrators thus far, and there is
no doubt whatever of the election of
Mr.. Roberts, with the entire consent
and cooperation of Mr.. Scott. Mr.
Scott says that with all the duties of
the two important offices which he
holds it would be impossible for him to
assume the Presidency of the new cor
pofation and give that attention to it
which it demands. lie therefore dc
sircs the election of Mr.. Roberts, whose
large interests in Texas and
possession of the roads to be consoli-
dated with this ono, give the best guar
antce Of his interest in pushing forward
the work, and are advantages which
he will possess in SO doing, beyond
those which any other person can bring
to bear.
The road will be l, 5l5 miles in length,
and, as soon as the formulas Of an or
ganization arc complete, work will be
commenced from both ends land pushed
forward as rapidly aus possible. BY the
consolidation, with this enterprise, of
the Memphis and FL Pnso road, which
Southern Pacific, which has tifty-tiye
miles in actual operation, ii good start
is obtained, and SO many advantages
are offered by the country through
which the line passes, that the work
of construction may be expected to he
quite rapid. For $50 miles, the road
will be an air line. In Il stretch of SIS
miles, there will be only six bridges.
neither OF these over four hundred feet
in length, and nearly all through y
fine, rolling, prairie country where the
grading will be extremely light. On
the line of the TranS-C Continental road,
also consolidated with this, nothing
has thus far been done, Government
owns no land on this line, but the State
has, as will hc seen by reference to the
Ompanying abstract of the charter of
made very liberal grants
to aid the work of construction. Along
the line is the richest land, for arri,ul-