The weekly echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1868-1876, 1874-12-05

! From 10 NoW gtieaus Tima
twill he Remembered that az the
meeting held ia Saturday evening, "
tie Chamber of Commerce, 10 take
definite initiatory action on the pro-
! posed New Orleans and Texas West
ern Central Railroad, 1t was deter
mined lo authorize the Commissioners
naned tha charter to open books Of
SUI option in order Is secure the
amoHnt 81 $4,000. preliminary to o
meeting q interested ia tie enter
pri inr its regular organization.
fhe Commissioners accordingly as
stumbled on Monday last, and arranged
bo have the subscription books opened
on Wednesday, 18th instant, at the
weil-Snown banking house OF Pike,
tlgother : Co The good work hts
commenced quietly, and IS progressing
quietly, ID the transformations manner
ia which regular business men carry
on enterprises Of such moment Sub
scribers representing literally the
brains and capital Of New Orleans,
have put their names down in the
hoolys from the opening day. each in
silch round sum las he is prepared Ia
risk in an enterprise vet inchoate to-
sune extent; and each at the same time
handing IN his five per cent Of cash
on the totai amount subscribed
Cash payment la advance, Of part
Of tae subscription Is the rigid rule
established by the Commissioners. Tt
is d wise rule, for It tests, in the sharp
est manner, the sincerity and deter
mination Of purpose of the subscli-
bers, especially these hard times. And
Il does away, IN advance, with those
too common membranes of all such
projects; the good natllred Messrs.
minds and Feeble Purses. who,
with the best intentions i'll the world
put their names on every list that goes
the rounds, and, like Mr.. MicaRber,
consider their signature us settlement
in full Of allclaims.
a cash basis may be, and doubtless
IS, the lever with which the sllrewd and
enterprising men ut the head OF this
important enterprise design to com
mence its operations, SO as to secure
to the subscribers a solid first security
for their investment, and solid pledge
for subsequent labors. OF this, how
ever, more hereafter.
The subscription books will remain
open, according % notice, until the
$4,000 required BY the charter to
perfect an organization, have been sub
scribed. They viii then be temp ora
rily closed, 10 be again opened SO soon
as the organization Of the company
has been effected.
From what Mr.. Pike said yesterday
IN bis terse, clear, practical style, to
Of the Times, We may
expect the agreeable duty in few DAYS
of announcing that this preliminary
sum Of 1850, 900 has been taken by the
"solid men;" That the five per cent. |
cash has been placed to the credit Of
the payers on Mr.. Pixies big books:
and that a working organization will
be speedily effected thereafter, which |
will soon come before our people with |
q definite, well digested and generally
acceptable plan for railroad from
New Orleans to Central Texas. that
shall be owned and managed by New
Orleans people.
- e+AS Va k4e AFdnbt'Iu uEhLSl# Oh
the New Orleans, Mobile and Texas
road, on the 18Th instant, under de-
cree Of the United States Circuit
Court, to Mr.. r. MI. Ames, for account
Of the bondholders for the sum of
$3.50, 600, d q familiar fact. TIC is also
well known that the sale was made
subject 70 the results 81 a bill ia equity, |
now pending III the United States
Circuit Court, and in which Mr.. Chas.
Morgan Is the plnintiff and also sub-
lect 70 q judgement in favor Of the
state Of Louisiana for 800 900 of
guarantee bonds
The public have naturally been anx-
ious to know what the bondholders
would do with the road; now they had
got 1t into their own hands. Mr.. Ames
has gone North, and bis representative,
Mr.. Bushnell, left Yesterday afternoon
for New York, intending to return here
IN q few weeks. sind remain here for
some time. Ere leaving, Mr.. Bushnell
informed 4 representative OF the Times
that 4 was the intention Of the com
pnny n speedily build fifteen miles of
track remaining Ia rum the road ont
from Donaldsonville To Grand River.
The road having at that point reached
deep water, tho Company viii await
further developments, keeping steadily
u view is real and only legitimate
terminus IKE completion Is the Sabine
there % connect with Che road built
thence u Houston. Doubtless, ny the
time an Bushnell ratnrns, the bond