The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1875-08-20
The, VickslDurE, Shreveport and
Texas Railroad.


last week, afforded us convincing proof that
Major Green, Receiver, has been dilisent
in his management ofthe affairs OF the
road. We found evidences of energy and
public spirit we did not expect to see, be-
cause Major Green had no means to begin
with, taking the road simply rs he found
it. in a much dilapidated condition. The
engines were dirty, the cars dingy, the
depot buildings and platforms inadequate
and out of repair, and the whole road and
its equipments and concerns in need OF
work. We found on our trip marvellous
change, considering the time Maj.
Green has been in charge of the road and
the fact that he was without money to
begin with. There is hardly n mile OF the
road, depot, a car, engine, or anything else
connected with the road, that does not, Mt
this time, show q decided change for the
better.
But this is merely in reference to the road
as it stands. What is of infinitely greater
importance is, the completion OF the
road to Red River. Notwithstanding the
decision of the U. S. Supreme Court, dis
possessing Ludeling Il Associates and Or
dering the road to be sold, there does not
appear to be any reasonable hope for
termination of the litigation within a less
period than five years. Ludeling d Co.,
have filed an account for improvements
amounting to about 100000, over ana
above the revenues, which are put at $780,
OOO The attorney for the bondholders, for
whoes benefit the road is to be sold, has
caused n hearing on this account to DE post
poned until November. No doubt when
this account comes up for adjustment, on
one side or the othcr will be found
opposition, which opposition will inaugu-
rate additional lawsuits, to be decided God
knows when.
We believe there is no doubt of such a
termination of the present complex condi-
ton of the railroad suit.
Who wins, or loses, in this litigation, is
not matter of so much Importance to the
country, as is the matter Of completing
the road. One thing seems to us evident: :
So long as these litigants can squabble they
will squabble, without reference to the COM
pletion of the road and the real necessities
and demands of the section of country
directly interested. There is no hope for
the completion OF this great work so long
as the conflict for dollars lasts.
Is there no way to reach settlement OF
this matter? Shall the people continue to
he tho sufferers in enterprise where
their capital was the principal investment?
BY the decision of the u. S. Supreme
Court the title to the V. S. e. II. Railroad is
in the original stockholders. The road is
ordered to he sold TO S;itlSiy 'Ol pohtS vi
$1,000 each bearing per cent interest for IL
years. Principal and interest amount to a
little Overcome and a-half million dollars.
There are about 80 miles of railroad COM
pleted and in running order. with rolling
stock, depots, &C., complete. The value OF
this property, with over nincty Thousand
acres of land, franchises, &c, cannot be less
than three millions, according to the usual
estimates made for constructing railroads
of similar guage.
Is there not n feasible plan of combining
the interests of bondholders and stockhol-
ders, by which the road can be taken out of
tho Courts, and bialt through? Or can not
tho stock be Increased, and payments sulli-
Gent be made, to satisfy the bondholders
(who will be glad to hold preference bonds
in such road ut per cent? and tho road
completed at once to Red river, without the
interminable delay bound to follow exist
ing litigation?
The country ought to tallo hold of this
giants who are fighting for the road, and
will, of course, make all they can out OF
litigation. There is n way out of this per-
plexity, and we think we have suggested it.
There is no railroad stock which can pos
sibly be so valuable rs that of the road hence
to Red river. The country needs the road.
and property will bedoubled in value Let
the people display some railroad manage
ment, as we'll as those who manage rail
roads,