The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-09-08
THE \. o.. VI. AND I. X. X.
H.. Committee on Railroads Of the Ch,i.-
Der If Commerce Report.


:. O. meeting OF the Chamber u Commerce
ie.I last night. the Committee on Railroads
submitted tie following interesting rep"'
NEW ORLEANS, Sept. Z, 1914.
T. the President and Members Of tAc NeN o.
cans Chamber Of Commerce.
y attaHe.t-ln view oI TIN fact that The FUND
IL Board are now engaged III tho WORK OF fuI.l-
Ill. the State debt and that it has been reported
and published enormously We are assured that
SAID board intends to fund the - 600 Vi Pcr
cont. D,nds itsued illegally and representations
ally 4s We bclIeye-for stock iii the New Orleans,
Mobile and Texas Railroad, TO said company, TOR
t..e construction OF raj road from hcrllIilon-
v!C 10 Shreveport, and, III view of the tact that
the question as to the Validity OF said issue of
bonds il still pending in our State courts, and
thai there is evidence that the conditions upon
winch said bonds We're issued have never
be : compile with, Your {. mnltt9e Oh railroads
deem it their duty to submit to this Chamber,
fUT transmission to the Funding Board ~
at,estcd copy Of al official letter from tn. .dtc
Pres dent to the late Chief Engineer Of SAID
New Orleans, Mobile and Texas Railroad Com
pang, wherein 1t is expressly stated that the pre-
tended commencement OF location and con3truc-
tl0n Of sail Shreveport Branch Railroad, at Yer
milou.le, not real or bona tide com
meL0ement, such as the law required or obvious
= meant thereby concedlnS the noil-fulfliimen mt
81 tie necessary conditions specified III the act
which provided fog said issue % bonds loG
TIE 'olIowin. is u true copy Of the letter se.
!@.... ~
UiIIc. OF y. o., NJ isD I. Y. X. Go,
New York, October 2, ISL !
L. ". r. Bayley, ESQ, Chief Engineer
.lo,. Shy the terms and cond tons " the
contract made With the tate Of Louisiana by tn.
.om pany, April -, 1907 under, and IN accord
.uc. with the provisions OF the act of the Gem
era. Assembly, approved April y, lslO,* the com
Uany obligated Itself to commence the construc-
lion Of the line from vermionviuc to Shreveport.
''mitAin six months, which limit OF time VIII eX-
pile tie 10Th or 2 ID OF this month. For the
company to comply with its obligation, as con
tanned in the contract it is necessary that the
~orA should be commenced PRIOR to the 2Oti INST.
y -lnglc days wolk by one man would DO tins |
suppOse. 1t is for the interests OF the company
What tie contract be complied with. You VIII
therefore at send one "f your
assistant engineers to Nermlllonvlilc and at
come convenient point north Of NcrnlilionNlic
sun Z. line Tor short distance, and com nchcc
thc work by throwing up small portion OF en-
Lanknent at some point just enough for INN t"
Ac able to file his certificate with yoi, properly
at.csted before notary, that such WORK was GulH
commenced on such a date thXlnS sucn ttttt
prior 20 10th nst). ii is desirable that 1t ,'c done
without comment OF publicity III the press. ~
~ want is to technically comply with the .on'
erac' now, since we cannot properly locate III,
sine nor. OF Ncrmlllon, or commence It's COR
strUctOn until after our main line has reached
sIiat point. Please give this matter your prompt
attention, ana when the certificate Is prepared
.ud the certificate mad, by your direction a. ehi.t
engineer, and then send the certificate s. john j.
Howell secretary, at this ONCE
Yours very truly. JANIS :. hNN9R,
President.
Error should be 1871.
IN accordance with the above order and instruc-
slu ;. the engineer who declares that he then
believed that the n. o., NJ. and L. Il. Il. Company
scally intended to construct bra -cl raiiroad O.
Shreveport; that he knew nothing OF the ISSUE Oh
MI, a
Dion. commencement at Nermllonvlilc Was simply
to prevent a forfeiture Of the chartered rights to
build such a road caused few hundred teet u
stalker to be set, and few cubic yafds OF edr' 10
be thrown up within the time specified, but, II Is
paln to your committee, that this Was iiot enc!l 4
commencement Of location ana construction "a
III. law contemplated, and President Raynor hmm,
self admits this when he says: We caiiho'
properly locate the line north of Nerlnllion, or
commence it's construction until after oui man
Inc has reached that point, that Is not until
ate, the completion Of the railroad to NermIll"h-
vile. ..
made with the state of Louisiana by the COM
panv' as President Raynor states explicitly, re-
uuired a CONNIE nee ment OF actual construction
s:wlthiE six months but neither the construction
nor sven the location OF SAD Oranch Iao1u I'D -
vet been commenced. -.
me law required the entire completion q this
road BIZ or before May, 1875: but it has not yet
been begun.
loint-stock capital were issued to secure the
construction Of the road of said corporation from
Vcrmil.onvillc to Shreveport" but 1t Is evident
that they were not used for such purpose.
Ycur committee are OF opinion that tis ma!
DECISION of our State Courts will be against the
YaiIdity OF the 9 so, 900 OF bonds issued fol
.tock in 1871, to the N. ON. and I; r. q Com
pany, and we recommend that tins Chamber pass
! rcsolntion requesting the Funding Board not
to ANA said bonds, nor any Of them, until com
relied 70 do SO by law
G. w. r. BAYLET,
II. O. SEIxAs.
l.. H. JOSEPH,
Committee.
..aso' .tons as recommended by the committee