The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-05-20
THE RAILROAD MEETING.
Directors Elected.

pany and citizens was held last night at the
rooms of the Chamber of Commerce.
The meeting was brought to order, and s.
a. Kennedy, Esq, wa. called to the chair and
Mr. E. L. Rantlett to the position of Score.
| tary.
Mr. Rantlett stated the object of the meet.
ing to be the ele,tion of board of thirteen
directors, to take in hand the question of a
road to Texas and push it to solution.
Judge W. W. Howe said there we're several
gentlemen present who had their ideas and
plans as to how ther road should be built, and
they thought it would he we'll to hear the views
of these gentlemen before the meeting took any
action. He saw Mr.. Duncan F. Kenner
present. He understood that Mr. Kenner
had plan to submit, and he had no doubt
that the meeting would be pleased to receive
it. He called on Mr.. Kenner.
Mr.. Kenner, in response, took the floor,
and with few Introductory remarks setting
forth that the gentlemen who had the matter
in charge had been selected without solicita-
ton on their part he proceeded to detail the
plan of Ames Brothers, which, as stated by
him, was in substance, as follows:
| A stock company with capital of six mil
lions dollars to be organized, the Ames
Brothers and other owners of the road will
put in the road as stock two millions dollars,
and in addition they will raise five hundred
| thousand dollars, the citizens of New Orleans
to raise one million dollars. The remainder
of the stock to make up the capital of six
millions dollars to be disposed of as may be
considered proper.
| The affairs of the company to be contr olled
which to be the gentlemen now in charge of
the matter, and the other five to be elected by
the present owners of the road.
| These directors to hold Office for thirty
three months.
| It had been calculated, Mr.. Kenner said,
that it would take two million two hundred
and Lightweight thousand dollars, estimating
everything at the highest to complete the
road, and it was considered that one million
and half would be sufficient cash, for there
were contractors who would take part cash
and the rest in stock.
| He thought it as lair proposition as could
be obtained. The control of the road was in
the hands of the citizens of New Orleans
until it was built, the directors remained in
Office thirty-three months, aud he thought
the road could be completed in two years.
| He had not pledged himself to any point
in Texas as the final terminus of the road.
He believed in standing off. building the road
to some point on the border, and then decide
according to circumstances.
Mr.. Ranlett requested Mr.. Kenner to an
nounce the names of the eight gentlemen
who had been solicited to represent the citi-
zens Of New Orleans
| Mr.. Kenner named Messrs John Phelps,
J. 81. Staufer, Augustus Bohne Thos 81.
Hunt, Louis Schneider. Patrick Irwin, J. Fl.
Oglesby and Duncan f. Kenner.
Some discussion arose as to the position of
Messrs. Phelps and Schneider on this board.
| Mr.. Kenner stated that meeting had been
held and it was attended by every gentleman
named but Mr.. Schneider, and every action
was Endorsed by all present.
| Mr.. Thos. a. Hunt stated that document
accepting the position had been signed by all
Of the gentlemen except Mr.. Stauffer.
Mr.. Kenner explained that when the meet
ing referred to was held, Mr. Schneider was
sick, but when the letter of acceptance was
presented to him he signed it.
Mr.. Stauffer declined to sign it, stating that
he was going away and would accept no posi-
ton to whose duties he could not devote his
attention.
Mr.. Ranlett took the floor. He said he
was conversant with the whole proposition as
detailed by Mr.. Kenner, with the exception
of few little matters which had been
brought to light during the evening. He re-
ferred to the position occupied by gentlemen
| in reference to the board.
He said that it was the intention of Messrs.
Ames & Co. to carry the road to Houston,
| for they held the Trans-Sabine road, and it
was their only salvation to bring the proposed
road in connection with it.
| They gave the citizens control of the
road before it was finished; this was but q
secondary consideration, the primary con-
sideratiCn was control of the road after it was
| completed.
| There was no guarantee, however, that it
would be completed. These gentlemen had
! received seven millions dollars aud failed,
and he wanted to know if they could accom-
plish with million and half what they had
failed to do with seven millions
He wanted, and thought there should be
exacted an absolute guarantee with a penalty
bond that they would accomplish what they
| said they would, before the money was put
into their possession.
The present meeting was for the formation
of an organization, and the election OF
board Of thirteen directors to taKe charge of
all railroad matters.
After some further discussion Mr.. Kennedy
took the floor and urged organization. He
said that an organized body with money
could receive and consider propositions. He
believed there was intelligence, energy and
money enough in the city to bull the road to
Texas and he thought it was about time for
the citizens to take the matter in hand them
selves and organize company among them
selves independent Of the citizens of every
other State, company not for the benefit OF
the incorporators, but for the whole people.
When he had concluded, Mr.. Joseph moved
the election of the following named gentle
men as directors:
s. b. Kennedy, Emory Clapp, Jno. Phelps,
Jno II. Kennard, Cyrus Busy, Louis Schuei-
der, Geo. Jonas, W. 3. Schmidt, Jas. Grid
ner, julius Weis, E. L. Ranlett, David Wal
lace, E. B. Wheelock.
The election was unanimous.
These gentlemen will serve until the organ
ization of a company is complete.
The object of the organization is to either
combine with or institute plan for railroad
connection with Northern Texas.