Richland beacon. [volume] (Rayville, La.) 1869-1890, 1875-08-28
The Nicl<>burs. Shreveport and
Texas Railroad.

A trip over the railroad hence 10 Delta.
last week aiiorfcd ~ convincing proof that
Major Green. Receiver. has been IilIgrnt M
his management of the affairs of the road
We found evidences of energy AMI public
splrlt we did not expect To- see, because MAJOR
Green had no means 20 begin with, rahin.
the road simply as he found II in much
dilapIdated cordition. The engines were
dirty. the cars dingy, the depot buildings and
platforms inadequate and IN need oi repair.
and the whole road ami lis equipments and
concerns IN need of work We found in our trip
a marve lous change, considering the time Ma
Green has teen in charge of the road ard the
fact that he was without money 10 begin with.
There is hardly mile Of the road, depot,
a car, engine, or anything else connected with
the road, that does not, AZ this time, show Il
decided change for the better.
But this .s merely in reference Ia the road
as i, stands What is of infinitely greater
importance i, the completion of the road TO
Red River. Notwithstanding the decision Of
the U. 5 Supreme Court. dispossessins Lute
ling 4 Associates and ordering the road to be
sold, there does not appear TO be any reasona-
ble hope for termination of the litigation
within less period than five years. Ludc-
linz Il Co. have filed an account for improve
ments amounting 10 about 5000, 900, over and
above the revenues, which are put at $500,
900. The attorney for the bondholders, for
/ whose benefit the road is to be sold, has
caused a hearing on this account TO be post
/ poned until November. No doubt when this
account comes up for adjustment on one side
| or the other will he found opposition, which
| opposition will inaugurate additional Lawsuits
] 10 he decided God knows when.
We believe there is no doubt of such a
termination of the present complex condition
of the railroad suit.
Who wins, or looses, in this litigation, is
not matter of so much importance TO the
country, as is the matter of completing the
! road One thing seems 10 US evident: So
| long as these litigants can sguabble, they will
squabble, without reference to the completion
of the road and the real necessities and de-
mands of the section Of country directly inter
terested. There is no hope for the completion
of this great work so long as the conflict for
dollars lasts.
| l. there no way TO reach a settlement OF
this matters Shall the people continue TO be
the sufferers in an enterprise where their
capital was the principal investment
BY the decision OF tie U. 5. Supreme
Court the title to the V. S. Il L. Railroad is
in the original stockholders. The road Is
ordered to be sold TO satisfy 76l bonds OF
$1,000 each, bearing per cent interest for IL
years. Principal and interest amounts TO
little over one and a half million dollars.
There are about 80 miles of the railroad
completed and in running order, with rolling
stock, depots, &C., complete. The value OF
this property, with over ninety thousand
acres of land, franchises, &c, cannot be less
than three millions, according 10 the usual
| estimates made for constructing railroads oi
similar guage.
Is there not feasible plan OF combining
the interests of bondhoders and stockholders,
by which the road can be taken out of the
Courts, and built through Or can not the
stock lie increased, and payments suihcien'
be made, to satisfy the bond holders (~hc
will be glad to hold preference bords IN such
road at per cent) and the load completed
at once TO Red River, without the in'e rmln
able delay bound to follow existing htisa
ton?
The country ought to take hold oil hi'
matter, and cease complaining at the lusant'
who are fighting for the road, and VIII,
course, make all they can out oil htisauoh
There is a way out of this perPlexiy' ana W.
think we have suggested it. There as M
railroad stock which can possibly be so vain
able as that of the road hence to ked nVer
The country needs the road, and proPef.!
will be doubled in value. Let the peopi'
display some railroad management as wei
As those who manage railroads..-Oudchu'
Telegraph.