The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1872-03-08
Consolidation OF Arkansas Rail
roads Under Mr. Tom Scots.

Consolidation OF Arkansas Rail.
roads Under Mr.. Tom Scott.
From the Little Rock Gazette.l
Charles G. Scott, President, and
James Lawson, one of the Directors Of
the Fort Smith Railroad Company, ar.
rived here yesterday from Memphis
They were to be followed on last even
ing's train by Alexander Mcdonald,
Vice President, and Henry Page and
John Stoddard, Directors OF the same
road, accompanied by Mr. Josiah Cald-
well, OF Boston. Colonel Sam Tate, Mr..
w. B. Greenlaw, Mr.. Hugh L. Brinkley
and Col. B. D. Williams, Of the Mem.
phis railroad, and perhaps others, well
known in connection with these enter
prlses. The train has not arrived up
to 10 o'clock. They have been holding
a consultation over the consolidation
and lease Of the Memphis and Little
Rock and Fort Smith roads, under the
management and control OF Mr.. Tom
Scott.
From all we can gather the terms
were agreed upon, and the gentlemen
came here for the purpose OF ratifying
the agreement Mr.. Scott, on behalf
of the Southern Railroad Security
Company, of which he is the con-
trolling spirit, is to have lease Of the
two roads for ninety-nine years from
the first of January, 1873. Our ad,
vices from Memphis state that the
stockholders OF the Memphis aud
Charleston road have ratified the lease
of that important highway to Mr..
Scott for the same period. The first
mortgage bonds issued by the Fort
Smith road, amounting to about three
and a halt million dollars, and the
same character OF bonds of the Mem
phis road, are to be retired, and bonds
Of the consolidated railway issued in
their stead.
The Fort Smith road and the Duyalls
Bluff and Pine Bluff branch of the
Memphis road are to be built and put
in first class condition by the first OF
January next, when the lease COM
mences. For the purpose Of raising
means to do this the first mortgage
bonds of the consolidated company are
to be issued, Endorsed by the Southern
Security Company, which will make
them as good in the money markets OF
the world as all first class securities
We understand the consolidated rail
way company will be organized here
today or tomorrow, with Colonel
Sam Tate, of Memphis, as President.
1t is the intention OF Mr. Scott, who
was recently elected president of the
Texas Pacific railroad, to push forward
the Memphis and Shreveport road from
Pine Bluff, and the Texas Pacific to the
neighborhood of Albuquerque. At the
same time the Fort Smith road will be
built into the Indian country, there
connecting with the Atlantic and
Pacific, and following the line of the
thirty fifth parallel until reaching the
point where the Texas Pacific crosses
this route (near Albuquerque. where a
junction of the two roads will be formed
and one be built from there to the
Pacific.
The above, when taken in connection
with the rapid progress being made on
the Cairo and Fulton, which will con.
meet US by the frat Of October with st.
Louis, aud in two years, at least, with
the International railway of Texas,
and by that line with the interior oil
Texas, Mexico and the Pacific, fore
shadows grand future for Arkansas,
which will make her one of the empire
States of the Union.
When the consolidation Of these Ar
kansas railways is completed, as indeed
has already been done. the old debts o,
the Font Smith Company paid up and
work commenced, our people will owe
debt of gratitude to Mr.. Josiah Cald
well, Mr.. Charles G. Scott and others
of the Fort Smith road, for their untir-
ing efforts to bring order out Of chaos
aud in opening to Us the grand future
ninturad shova