The Columbia herald. [volume] (Columbia, Tenn.) 1850-1873, 1872-03-01
~ y ~ ~. 49,. y Iii
Ann I,vU a aaHa.r, a avn 40.
Tom SCOTS Interest in the Big En-
terpfise.


A Herald Washington correspondent
gives the following gossip in relation
to the great enterprise in which T. A
Scott is engaged: 10 o. - -
Marshall o. Roberts, of New York,
troubled with the kidney disease and
in low spirits, is already heartily sick
of the Southern Pacific Railroad, and
has offered to sell the whole thing out
to Tom Scott for 81, 500, 900, which is
about the amount which Roberts has
himself personally advanced to build
the road. Roberts is generally looked
upon here as failure as railroad
man, and the hungry attorneys, ex-
congressman and others who were
promised bonds upon his accession,
are raving about town, talking about
honorable and fashionable conduct. It
is said that not fewer than two hundred
persons had promises of bonds and of
money, but these promises amount to
nothing, many of them being given to
persons who, under the law, had no
right to be interested in any measure
before Congress. Scott is now in
Washington, seeing what can be done
out of the situation. His wonderful
head and hundred hands take delight
in such enterprises, and the grants in
money and in lands lavishly ,heaped
upon this road, might wen allure him.
The "Texan and Pacific" franchise
such being the name of Scott's consol-
idated road, which is to run from
Shreveport, Louisiana, across the
broadest part of Texas to Ell Psso, and
thence send an arm down in California
and another to San Diego-is COM
prised of three or four different things,
all subsidized with rich Texas lands
| First, the Texas and Pacific comprises
the Southern Pacific Railroad, char.
tered by the State of Texas, of which
seventy miles are already built from
Shreveport westward. This grant if
seven millions of acres, which, at three
dollars an acre, would alone make
twenty-one million dollars. Next IL
Scott's enterprise is the Memphis and
Ell Paso grant-that unfortunate con
cession to John G. Fremont. The
Texas and Pacific have compromised
for the Fremont bonds-sold head
over-heels in Paris at sacrifice, near
ly to the ruin of our general securities
and not much to Fremont's own benefit
by mortgaging all their lands for tIt
first one hundred and fifty miles of thu
road to said bondholders. Fremont
Indebtedness is not less than thret
million dollars, and it is supposed tina
after indemnifying upon that compro
mise, the persons who took his bonds
the Memphis and Ell Paso grant vii
still amount to five millions OF acres
Next in Scott's Texas and Pacific en-
terprise will accrue the State bonds o
ten thousand dollars per mile, which
are not to be handed over until 81,
hundred miles of the road are com
pleted and it spans the whole State
This moneyed concession was mad
last winter by the Legislature of Tex
as, and the whole sum received in TIN
way, if ever paid, will be six million
dollars in State bonds. Next, Ton
Scott, if he builds this road, will ge
the Government grant of thirteen mil
lions of acres lying between Ell Pas
and San Diego, some of which Is goOt
land for agriculture, and much OF
rich in minerals. Putting these fou
things together, and valuing the LAM
at between two and three dollars al
acre, the Texas and Pacific concession
amounts to sixty-eight million dollar
in land and State bonds. Public spirit
however, is not wanting on this road
but from Kansas, Colorado, California
and even from Utah, the road build
ers, with or without land or subsidy
are pushing south to tap the countr.
!. at the headquarters of the Rio Grand
and pierce into Mexico, while tn
} Southern Pacific Railroad is beinl
pulled to pieces by its Congressiona
manipulators.