The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1875-02-20

i, correspondent of the Galveston
News, writing from WaXahachie un-
der date of February 9th, gives the fol-
lowing information in regard to the
above railway:
The legislature has passed an act
which was approved January 2sth,
granting sixteen sections of land per
mile i'm aid of the work, and authOriz-
ing the town of Waxahachie to give
its aid also in a specified manner.
The corporators have organized a
company, and elected board of direc-
tors composed of the most substantial,
enterprising and efficient men of the
town and contiguous country. At their
head is placed as president Of the COM
paDy Henry w. Graber, one of the
leading merchants of the place-an in-
telligent, active, gO-ahead man, just
suited to the position. He has the con
tidence of this community, and Will
command confidence wherever he is
known.
The act authorizes the issuance of
bonds to the aggregate amount OF SI9,-
600, bearing eight per cent ANIMAL i'll
terest, running twenty years to matu-
rity; and authorizes the levying OF a
special tax upon the real estate OF the
town ttw0-thirds of the real estate
owners asserting by vote to said taxi,
to liquidate the bonds with accruing
interest. The vote is to be taken at an
early day aud it is not doubted that
nine-teiiths of the voters will approve
of the tax.
These bonds, it will he observed, are
based on reaiestata of u present actual
value five or six times greater than
their present aggregate amount, and
their payment, with eight per cent in-
terest, secured absolutely by special
annual tax. Besides, the Intrinsic
value of the real estate will increase
one hundred per cent at least just as
soon as it bec0mes known that the
funds assured for the baildjng OF the
road, and in a few years after its c0m-
pletion quadrupled or more. The
bonds of scarcely any corporation,
however large and reliable, in the
whole country, offer opportunities for
more advantageous Investments. And,
in this connection, will remark that
It is stated, on the best authority, that
q large amount of the bonds will be
taken at par, by the men of capital In
the town and vicinity This fact can
not fail to inspire confidence in other
localities, and especially in those that
have an interest in the completion of
the road, In the advantages Of invest
nests in these bonds.
Yesterday there was o meeting of the
citizens of the town and county, drawn
together mainly for information as to
the progress of the enterprise. Ad-
dresses were made, setting forth the
prospective advantages Of the road to
Wexahachie and the surrounding
country, but these were only express
siOns of the already fixed convictions
of all present. But there We're few
facts elected in respect to the enhance
ment of value of lands contiguous to
railroads, that might not be out of
place here. For instance: In Collin
county, from an average value of 81 30
per acre, in 1855, to So l3 in 1873; In
Dallas, from So SO to 81 90; in Ellis,
though the Central passes through
only the eastern border, from 50 OF to
S4 65, aud SO of many Others, while In
Hunt, Guadalupe and other counties
possessing the highest natural advan-
tages, but not that ofready transporta-
ton pr their products Dy railroad,
there had been no increase in the
value # their lands.
From the industry, energy and pfac.
tical business talent of those in whose
hands the management of the enter
prise has been placed, together with
the urgent demand for the road for the
improvement of the town and the de-
velopment of the surrounding country,
surpassed i'm agricultural resources by
no other In Texas, 1t Is confidently be-
lieved 1t will be carried directly for
ward to early consummatfon.