New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-11-14
Good News for the Texas Railroad En-
terprises
New Orleans:

terpriBes
Sam. H. Kennedy, ESQ, New Orleans:
DEAR SIR-Referring to our reports Q
yesterday, we now have the pleasure to in
| form you, and through You our friends II
| your city, that Governor William SpragUe
has joined our syndicate, and has this day.
| at a meeting Of our board of directors, been
duly elected president OF the New Orleans
! Mobile and Texas Railroad Company. Dir
! Latham was elected vice president, and will
reside in your city. The contract entered
| into between the company and Bushnell
| and associates has been approved br the
! directors, with the promise on the part OF
! the contractors 10 commence work forthwith
! and push the same to completion.
The contract between this company and
| Dir. Ward, Of Detroit, to build the road
| from Nermilionville to Shreveport has also
| been approved by the directors this day,
and we vii! cause our secretary 20 forward
| you copy of the same.
We congratulate the citizens Of New Or
leans upon the good prospects of having both
roads completed at an early day, and trust
now that you will do all in yOur power 10
re,establish the credit OF Our securities
especially of the State bonds, in order to
make our New York and Boston friends
tee! that they have a reasonably fair Sc
curity for the money they have invested
and are still investing in your State.
trace which will be sen: to you), requires
new charter for himself and associates for
the Shreveport branch, which is fair and
necessary, and we trust that your citizens
will aid him in obtaining it early in the
session.
We are, dear Sir. yours very truly,
j. w SELIGMAN & co.
The committee Of fifteen take pleasure in
calling attention to the above letters from
Messrs. j. and w. SeHgman s. Co., confirm
ing the information already received bT
kilograms, that Governor Sprague had ac
cepted the presidency Of the road, and had
subscribed literally 20 complete the enter
prise.
The vice president, Colonel Latham. will
reason why the roads to Houston and 20
Shreveport should not be completed without
delay.
The committee heartily respond to the
con congratulations of Messrs. Seligman & Co.
and the interest they manifest in this en-
terprise, which has row become an insured
success, and they feel convinced our citi-
zens must all share in this feeling Of con
graduation.
The committee will still continue TO act
and look after the interests Of the sub
scribers in this city, taking good care to ste
that the securities are based upon work
that will be finished according to the terms
Of the cOntract-"a first class railroad"
However rapidly the road may now be
constructed, it can hardly progress faster
than those roads now building in our sister
State OF Texas. From letter Just received
by friend from Marshall. Texas, the fol
lowing extracts are interesting: Work on
the Texas and Pacific in grading is pro
crossing efficiently along the entire line
from Long river to DlllIas and Fort Worth;
also, it is said, on the route of the branca
road known as the Transcontinental, from
Fort Worth east to Texarcana, at the north
east corner Of the State Of Texas. The
short line from this place to Jefferson is
cleared of timber and the grading com
menced, and york is also commenced from
Jefferson toward TeXaFcana. We have
charter for short line from Marshall to the
Louisiana line, near Mansfield, to connect
with road in Louisiana from Mansfield to
New Orleans"
The committee recommend TO our citizens
to buy (if they have not one already one
OF Hardee or COitOn's maps of Texas, and
study out the lines Of these roads and the
world of trade that will come to New Or
leans over the Houston road and the
Shreveport road. IF we do not make the
connection, this commerce that VIII IN
few years become large enough to build up
a Southern Chicago in extent and pros
perity will be distributed to St. Louis Gal-
weston, Louisville and Cincinnati oy direct
railroads now completed or in progress OF
completion.
Tie committee believe that our ciUizens
viii give every encouragement and facility
10 the parties who have now undertaken TO
construct and complete these great arteries
By which we can connect and share in che
great prosperity Of our sister State Of
Texas.
The committee also teeI assured that
whatever can be done will be done by our
citizens to re-establish our State securities
abroad and at home, which have been SO
sadly deprecated during the misruie Of
bad government under which they were
necessarily compelled to suffer.
In calling attention TO the additional
names of subscribers, the committee deem
it but proper to state that their list is yet
$50 900 short CT the million required, and
although several subscribers have offered
to double their amounts, it is hoped those
parties who have not yet determined what
amount they will put down will come foG-
ward and relieve tine committee from the
necessity of asking any one to increase
tte.S subscriptions. Respectfully.
SAMUEL H. KENNEDY.
Chairman OF Committee