Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-12-22
UP TO MORE MISCHIEF.

Clayton. Dorsey and HadIey Seek
Fresh FIELDS and Pastures New-F0r.
etgners 20 be GuIIed Oat OF sI,OOO,-
600.
Little Rock Correspondence of the New York
World
1t looks very much as if that corrupt
clique of Radical politicians, Dorsey, Nc
clure & Co., having been foiled in their
political schemes, have now turned their
attention TO rich 6elds abroad. They
are just at present engaged III a gigantic
effort to deceive English and European cap
italists. The firm Of George Burnand &
Co, of London, have Just issued, and
doubtless Eastern capitalists have seen it,
a prospectus offering for sale san issue Of
100000 in first mortgage seven per cent.
bonds of the Little Rock Bridge Company,
redeemable in twenty-five annual drawings,
beginning in 1871" The prospectus an
nOunces these bonds for sale at S7!. Then
il goes on 10 announce that the company is
about TO build over the Arkansas river at
Little Rock, bridge 1850 feet long, with
a roadway similar to the St. Louis bridge
over the tracks. Without directly stating
Is much, this prospectus intimstes that the
material for the piers is already on the
ground, that the work Of caison building is
just about to be commenced, and finally,
with flourish of metaphorical tTumpets,
declares that by contract the bridge will be
done on the LIST of October, 1879.
To impress the investor with the demand
Tor this work the prospectus says thai four
railroad companies have already entered
into an agreement to cross the bridge, pay
ing twenty-five cents for every passenger
and $50 for eFery Car of freight passed
over, and if this was not enough, it is as
serted that three of these roads guarantee
the company an annual income of $4,000
from their tolls alone. II is a significant
fact that no names of officers or directors
accompany the prospectus, but this will
be understood when the whOle story is
told.
And now here is the true history and
condition of the Little Rock Bridge Com
pany. Eight or ten years ago some citizens
of Little Rock obtained from the Legisla-
ture a charter to build a bridge over the
river, and subsequently got their charter
confirmed by act of Congress. Nothing was
ever done toward the construction of a
bridge, but when the St. Louis and Iron
EOuntan Company succeeded in getting
hold Of the Cairo and Fulton road, and
commenced extending it rapidly towards
Little Rock three years ago, some men con-
Ceived the idea Of buying up this old char
ger, and obligiGg the railroad builders to
pay handsomely for it. They did this,
giving in payment-not money, put notes
Tor $4,000. The men who made this pur-
chase were Powell Clayton and S. w. Dor
sey, our present United States Senator'S;
Aleck Mcdonald, who was CIayton's pre-
deceSsOr in the Senate; W. 5. Oliver, at
has - in, nh
Little Rock is situated; Henry Page, then
the State Treasurer; John StOddard, a
banker of Little Rock: Josiah Caldwell,
Boston s'speculator;" John Mcclure, then
Chief Justice of Arkansas; o. A. Hadley,
then acting Governor of the State.
These were the men who bought the
charter, and, wholly Indifferent to the ma
terial needs Of their State, thought to force
the railroad company to their terms by
preventing them from otherwise crossing
the river, and, as the event showed, were
willing to prostitute the judiciary, legislR-
tive, and executive power of the State to
their purposes.
The railroad company reached the river,
and there found their way barred unless
they were willing to pay the purchasers Of
the old charter ruin0us sum for their in
strument. The railroad company got a
Till before Congress which was 10 permit
the building CT a bridge with the same
Specifications as fixed for the Little Rock
company. Through the political influence
of Dorsey, Clayton, and the others, this
bill was defeated. The railroad company
then proceeded to build in accordance with
very unfavorable specifications, when the
ring misrepresented the case to the Secre-
tary of War, and worked upon that official
until be actually appealed to the Attorney
General to have the work on the bridge
stopped. The Attorney General did issue
AN order t. this effect, and subsequently
making further inquiry into the matter,
received such information from Josiah
Caldwell and S. w. Dorsey as led him to
make application 10 the United States
District Court te have an injunction put
upon furtl er operations. That court, how
ever, was beyond the reach of the trick
siers, and the Injunction was refused.
The Iron Mountain Company proceeded
with and finished their bridge.
Since then the Little Rock Bridge Com
pany have been keeping quiet until few
weeks ago, when the approaching maturity
of some of the paper they had given for the
charter caused them 10 set their wits to
work, and the result was this idea of sen
listing" foreign capital.
\ few days ago Hadley, who had left
here with barely enough money 10 pay his
expenses abroad, returned home, and has
been spending money lavishly. The con-
clusion which is drawn is. that some for
eign capitalists have already accepted the
promises Of the Little Rock Bridge Compa-
nv, and the probability is that more will do
tile same unless the unvarnis ed facts above
recited warn them.