New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-12-17

general depression of business, and the de-
fects and abuses Of our port system can best
be corrected by true competition; that tie
Belgian system is worthy OF consideration
ton as to cost; that one great need is an ex.
elusive freight railroad from New York to
the grain sections Of the West, as a means
Of learning what properly to expecs
from existing railway; that the mag
nitude of the work makes necessary
go vernment aid. and that the report OF the
Committee on Railways and Canals, Fortye
third Congress, suggests a plan for loan Of
government credit, which is to be come
mended; also, that this work can not b9
too quickly undertaken. The delegation
which was appointed to attend the convene
ton of the American Cheap transportation
Association, at Richmond, Virginia. reporte
ed the convention and its deliberations
indicated that the movement for cheap
transportation is rapidly gaining strength
The feature of the convention was the teeta
ing that the material interes of the cOuns
try were controlled by few unscrupuloue
men.
The Bebt of Memphis.
The committee appointed by the commoA
the debt of the city, held a meeting here toe
day to consider the ways and means of got,
ting rid Of their debts. Mr.. AppersOn, OF
Memphis presided. Mr.. Hanson addressed
the meeting. giving brief outline of the
financial statement of the present condition
Of the city's debts. He showed that the
total bonded and coupon debt is 81, 49,, ,S97s
in addition to which there is floating bebs
of $2,000,000.
The assets of the city are $7,3l7 6S0s
population of the city at present 4S,O00s
taxable wealth 500, ,53O.7l4. Of the amount
of its liabilities $500, 900 is past due coupons,
| to meet which the city has $l7 900 in it's,
do
the following resolution was passed.
Rcsolred That holders of bonds of the
city OF Memphis in Charleston, Baltimore.
/ Philadelphia and elsewhere, be requested
4 to call q meeting and appoint one or two
| delegates each, to meet = committee OF two
appointed by this convention. in the city ct
Memphis, on the eleventh day of Januarye
1875, for the purpose Of considering the
questions now before the convention.
| Elendennisg's Faithful Flock.
The members of Prospect Park Avsr,A
Presbyterian Church, Jersey City, call upon
Glendenning to continue his pastoral yelas
tions with tLeu.
important Railroad NIeetiag.
The Times says an important meeting took
place yesterday at the Fifth Avenue Hotel
in this city between c. p Huntington, vice
president of the Central Pacific Railroad
| Company, and Messrs. Oliver Ames, Sidney
Dillon, Bates and Others executive cOmmits
| tee of the Union Pacific Railroad Company,
The matter under consideration was q cOns
tract for a term of five years between the
Central and Union Pacific railroads. and the
Central and Oriental Steamship Company
| of the State Of California for through first
class line of steamships to run between San
Fra ancisco and Japan and China.
| A communication was read from tho
steamship company, claiming that $3.50, ,OCO
of the 81 ,000, 900 Of the capital stock had
been already subscribed on the Pacific coast,
Large subscriptions were made by San
Francisco merchants and by the Chinese
merchants IN that city. After due cOns
siderati0n of the matter in all its bearings
the contracts were unanimously ratified by
the two roads-the Central and Union Pa'
/ cific. The contracts are now complete,
having been approved by all the contract'
I ing parties.
Navy 1ard Frauds.
special to the Herald intimates frauda
in the Charlestown, Massachusetts, navy
yard. The names Of the parties implicated
are suppressed.
Loss of n Schooner and Crew.
! A schooner, supposed to be the Robert
Pettis, from Virginia to Providence, with
oysters, was lost. with her crew, consisting
Of five persons.
) City Mission and Tract Society.
! The New York City Mission and Trac.
| Society held its annual meeting to-day and
elected A. X. Wetmore president.