The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-03-15

Ference with these plans and required to he left
forard the Memphis Ell Paso and Pacific Company
was the first American company admitted to the
French market.
The groundwork In the plan OF the agents and
The inducement presented 70 the French govern
ment for the admission OF these bonds TO the
French market were the stipulation on the part OIL
the company to purchase the rails and engines re-
auired in the construction and operation Of the
road from French manufacturers, thus opening out
a new field to the French industry in the South
western United States.
The Memphis and III PasO was not national road,
and was not therefore. bound TO use American
iron. This gave it,an advantage over other Ameri-
can roads which had their agents in Paris and Sc
cured lor 1t that favor OF the imperial government
which IS now made ny the cablegrams one OF the
accusations against 1t.
The letters Of application to this effect. and CIV
ing the basis Ter the admission requested were
addressed by the agents Of the French Ministers,
and such as needed the Official signature OF the
company were sent here to be signed The private
letters accompanying these, which are now III the
hands o. my counsel "A Paris require that "1he s
word and that no time shall he lost In asking use-
less explanations" They complain OF the nac-
actions for heavy damages II their plans should
miscarry through these delays.
1t is in this connection that desire distinctly to
say that whatever may have been the misrepre-
sensations and mistakes committed in this matter,
they originated in PARIS and belong there. These
misrepresentation and mistakes were not In any
way suggested by me or known to me until after
they were made. They lie between the Paris agents
and
THE FRENCH HOUSE OF PARACLIs & CO.,
who bought the company's bonds and placed them
upon the Paris Exchange; At the time they were so
road, and as such was publicly applying to Con-
gress to be made national road with right of
"transcontnental" to the style and title OF the
company in Paris Is among the charges
before the Court. This was not the act OF the
company. 1t was not placed upon its stock or
bonds, nor upon its Official paper, envelopes or
title OF "Memphis, FL PasO ana Pacific Railroad
Company" Transcontnental was the title adopted
for its whole projected line to the Pacific and
placed upon its bills when were before Congress
applying for the national charter and title, but
and scarcely could be called. under the plans
which had been set before the public. misreprc-
sentation. 1t seems rather to have been an expla-
nation. In regard to the money obtained upon the
bonds, much the larger part renamed in France,
and all the material which had been furnished in
through my control, and which was used Tor the
road and in It's interest, my accounts have Been
rendered TO the receiver appointed by the Courts
OF the United States and France. For all that be-
longed to this plan OF building up the Southern
Transconinenta line and bringing it to consunl-
nation in the passage OF the Texas Pacific Rail-
road charter in the Senate, period covering from
1867 to 1870 | am willing to accept my 1ull share of
the responsibility. The accusations now under
trial in Paris charge that the Memphis and FL Paso
line is all chimerlcal speculation and fraudulent
scheme
"AN IMMENSE INTERNATIONAL FRAUD"
There is no newspaper reader in the United States
who does not know that the line on which the Men,
phs and Ell Paso Road is projected is the best in the
country, the result OF the examination from the
forty-ninth to the thirty-second parallel of lati-
tude, which had been made Tor the government,
shows The Secretary OF War reported this line to
Congress in all respects the best for railroad to
the Pacific. IL will hereafter prove to be the really
practical and true commercial route. The
Memphis, Ell Paso and Pacific Company, endowed
Inv no had ed fnro N n
charter, with every reason to expect the success
which it afterwards completely realized. The plans
fore the public here and abroad In carrying out
these plans and at the very time these attacks
troll Of the Memphis and Little Rock Railroad
OF the Arizona COMPS and the franchises OF
right ri to 1900 acres Of land in the
port of san Diego. This left only break OF l5O
miles between the Mississippi and San Diego. 1t
OF the material contracted for In France some
seven thousand tons OF rails and ten engines had
! already arrived at New Orleans, and on tine road
| track laying had already begun. The State OF
Texas had mad passed the Transcontinental char
road was applying to Congress for the national
charter to consolidate Its Plans when
met Its i sepo M nese tne
from French sources, that 1t il absolutely untrue
to say that the projected southern Pacific Railroad
| as based upon the Memphis and Ell Paso was specu
lative and unsuDstantal 1t occupied the best line
for trade between the oceans having for Its ports
| the whole seaboard from New Orleans north, and
was in the most favorable conditions and promised
| to be a splendid success, advantageous to the
| United States in the extension OF its commerce
and to France in opening out the Southwest and
West to French industry.
THE SECURITIES ISSUED IN FRANCE
were those OF the Memphis and FL Paso proper, and
they showed what they were upon their lace, and
these were affected by the plans OF the road only as
| its extension and importance were likely to in
crease the value OF it's securities, and this worb
| had all Deen IN progress openly before the pubic
for several years, and was so carried on in the con
| fdent belief Gifts entire success and no misrepre
sensations OF its character were made on this side
In my communications to the French Minister o
Foreign Affairs as in all Others its character anC
resources were distinctly set out, they we're II
| all the printed pamphlets containing It's charter
! and franchises and the laws OF Texas and reports
| in regard to 1t which were sent abroad. There was
| in the French public uncomfortable on this side o.
| the water All that was then stated Is true, and
all that was claimed for the road is fast being real
| lied.
SILENT, ACTIVE AND MALIGNANT HOSTILITY.
Owing to the clamors from these French sources
the road had to pass from my hands, but NJ Allou
| has the written statement from my counsel here
that the protection OF the bOndhOders was my con
slant care. AS already stated 1t has been always
intended to absorb the Memphis FL Paso in the
| Southern Pacific road now under construction. In
this way the bonds would be fully provided for
Having In these attacks been made the impersOna
ton OF mistakes and errors that were not
mine, and my proofs to the contrary
shut OF, am compelled to speak in persona
way. Following these transactions and drawing
its support out OF them there has been directed
against Inc a silent but active and malignant hos
tllity which has forced me 10 relinquish into the
hands OF others the profits and results of years o.
well-planned labor, entailing upon heavy losses
and tnwarting and embarrassing all my undertak
ings. j. {. FREMONT.
BROOKLYN BURGLARIES.
a n Thief