The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-11
Letter from the President Of the New Or
leans Pacific Railroad Company to the
Board of Underwriters.

To the President of the Hon. Board Of Under
writers of the city of New Orleans:
SRI ana directed by the Board of Direc-
tors of the New Orleans Pacific Railway Com.
papy to invite your patriotic cooperation,
and through you that Of the various insurance
companies constituting your board, in aid OF
the construction of the line of railroad to
connect Alexandria, on Rad River, with Mar
shall or some other equally eligible point in
our sister State of Texas.
To gentlemen 80 thoroughly we'll informed
in regard to the state of commercial affairs in
our city as its underwriters, it were supur-
fous to do more than remind them that, dur.
ing last season over six million dollars worth
of cotton alone. from utter inability of its
owners to have it transported hither at less
than ruinous cost, sought other and inferior
markets.
No better prospect presents for the coming
season, or any future one, should tLis people
supinely disregard their vital duty and refrain
from afording speedy, safe and economical
conveyance.
The loss our city has sustained by this
diversion of one hundred and twenty thou
sand bales of cotton from our wharves in in
surance, commission, conveyance, labor,
drayage, warehousing and COMPRISING, any
one can easily estimate. Yet considerable as
it is, it sinks into comparative utter inslguif-
canoe. when We regard the general ruinous
losses in every department of business origi-
mating in similar cause, namely: the want of
railroad communication to Northeastern and
Middle Texas.
From stocks of merchandise in store to-day
in our city, compared with the amount several
years since, it is safe to affirm there is de-
cline of from fifty to sixty per cent, and with
this falling off in stocks in merchandise, as
your enlightened board will admit, has come
greatly diminished profits to our insurance
companies, diminution of rents to the extent
of thirty to fifty per cent, reduction of sala-
ries. discharge of employees. and universal
prostration and suffering.
Challenging contradiction of these self
evident statements which all recognize to be
true, and proclaiming our confident convic-
tons, are that the enterprise of connecting by
frst-class railroad our city with the north of
our own Commonwealth and the northeastern
counties of our sister, Texas, will not only
restore to US much of our alienated COM
merce and diminished prosperity, but will do
so without the necessity of any mans sacri-
fcing a single dollar; for We sincerely be-
ieve we are able to construct road Of the
very best character at cost that will enable
it under faithful management to pay regular
and reasonable dividends to its stockholders
in return for their investment.
We ask no gifts from our citizens or from
our public institutions; we disdain to regard
the installment of support already extended
to this great undertaking as money thrown
away, for which no adequate return can be
expected. On the contrary, we conscien-
tiously believe this road will be great memo
rial of the success New Orleans can command
if her own children will only be true to their
mission.
Earnestly inviting the attention of your
honorable board to our application for your
friendly pecuniary aid and cooperation. l
have the honor to be. very respectfully yours,
E B. WHEELoK
President N. O. P. R. R. Co.