The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-02-08
THE Projected Texas and Pa
cific Railroad.
INTERVIEW WITH TOM SCOTT.
Denial Of Any Connection with the Memphis
and FL PaSO Scheme.
EVIL RUMORS REFUTED.
The Aid Asked and Expected from
the Government.

t14C 6ON "a 44444O&&Is
PHILADELPHIA Feb. 7, 1878
Your correspondent. desiring to secure Mr..
SCOTS views OF the numerous rumors now anoat
IN reference to the Texas and Pacific and Memphis
and FL Paso railroads. and to hear what he had
20 say In reference to the many stories, which, II
Srue, impeacn his character not only as manager
ant as q man, approached him Ia his private
snice this morning ana had the following inter-
view
THE INTERVIEW.
REPoRrER-I came here TO get some statement
an regard TO the Texas and Pacific and Memphis
and FL Paso roads.
Mr.. SCorr-An the statements made In any
paper relative to the Texas and Pacific being in
any way consolidated with or Interested in the
Memphis aud Ell Paso organization that existed
some eight or ten years ago without founda-
naon in fact The Texas and Pacific charter was
passed by Congress alter the Memphis and Ell Paso
corporation had tailed to accomplish the
purposes for which 1t WAS designed,
and has never been connected with
It. The whole purpose OF making such
charges is evidently to create an lmDres.
sion In the public mind, by implication, that such
relations exist; and 1T is DONE in my Judgment, In
the interest OF other parties 10 serve their own
designs, and to q large extent Tor the purpose OF
Slackmailing the Texas and Pacific Company in
some instances, and in others to prevent the pub
hc from having the benefit OF this line TO the Pa
cifc coast, trust they will fail in both
QUESTIONABLE you know whether there has ever
been any conference with the oticers OF this CON-
vany Tor the purpose OF consolidating with the
Memphis and Ell Paso Company
Mr.. SCOrr-There has never been any conference
IN this subject and it would never have been en-
sersalned by the Texas ana Pacific Company, and
never win be so long as l nave anything to do
With It,
COLONEL SCOTS CONNECTION WITH THE ROAD.
QuEsTIoN-were you IN any way interested In
the passage OF the Texas and Pacific bill through
Congress?
Mr.. SCOTT was in no way interested In It's
passage through Congress. knew nothing about
she project for months after the bill passed, ana
then only through the application Of a committee
Of gentlemen from New York who called
upon me to say that my name had
been USED as corporator in the bill,
D, no doubt many others had who
mittee desired me to become interested In the or
ganzation OF the company and take the pres-
*se
Eress: After full conference with number Of
friends here IL Was concluded that the work Itself
very valuaOs sec1on Of Ike couny and would
be OF great benefit TO the region to be travefsed
.ake the position tina! vas rendered 10 me IN the
|; { ::ss y rhz- 'r1sic OF 1878.
New York, became interested and assumed the
presidency OF the company expecting and bellev-
a1 spd Ss We cosd place the bonds
the company IN Europe and complete the road
under the grants It held from the state Of texas
and the government OF the United states. l
went to Europe IN the summer OF 1879 TO
carry out these purposes. and should IN
the work much within the limits OF the time au-
thorzed by Congress had 1t not oeen lor the panic
f1at occurred in september OF 1873 This De-
srroyed eli possibility Of negotiating this class Of
American securities, and, IN my Judgment the
only way the road can be completed within any
to the purchasers that the interest on the COM
pany % bonus viii be paid each SIX months.
ADVANTAGES TO THE GOVERNMENT.
To meet TINS obligation the company places
every bond created under the mortgage In the
treasury OF the United States, and pledges ell Its
ten days before the maturity OF each coupon the
% ns to 20 IL
asking the approprianon OF dollar from the
government
Congress that the construction OF this road would
be a certain economy 70 the government OF rom
81 000, 600 to So 100000 IN It's Indian and military
Transportation; that 1t would enable the govern
ment 10 largely reduce It's military forces on the
enIlre southern border and make lie and prop
erty secure. The company also leaves the sum Of
over $4,000, 900 OF It's own bonds with the Secre-
tary OF the treasury as
A CONTINGENT FUND
with full authority to sell the bonds OF the COM
pany at It's own cost II necessary 20 pay the IN.
terest guaranteed without calling upon any ap-
preparation COMMITTEES OF Congress or asking the
aid OF the government money Tor any such pur-
poses. and tnat no bond OF the company should De
ISSUED from the Treasury OF the United states ex.
Cept upon a completed and equipped road and
Ihen only to an extent SUFFICIENT to meet the
actual cost, az certaed TO oy the Commlssion ers
on the part OF the United states government o.,
rs 10 the condition OF the road and It's equipment
q
such construction.
QUEsrIos-You stated a while ago that you
some OBJECT in view. Why did they not attack
both roadsf How came they to speak OF the Mem
MI SCoTT-As before stated, for the purpose Of
creating, by implication, IN the public mind an I'm
preston that the Texas and Pacific road was con-
hected with the corporation mat JAILED some
years before the Texas and Pacific was chartered.
EFFECT OF THE I'll PAso STORY.
QUEsTIoN-Do you anticipate that these r1lmor;
viii Affect the prospects OF the road to any great
extent2 DO you suspect that they VIII have AM
influence upon public opinion
Mr.. sCorT~These articles are intended to AFFECT
pubic opinion unfavoraby, and especially the
minds OF members OF Congress. against Inc Dill
who Will take the time TO examine them certainly
would not be affected by such statements.
QUEsTIoN-A great many people, whose names
have been connected with the III Paso subject,
nave denied that they received any money.
Mr.. ScorT-I know nothing whatever about the
ORGANIZATIONS or connections OF the Memphis ana
III Paso stock; was never in any way connected
WIN IL. dnectiy or INDIRECTLY nope ana ueIeve
th2J all such action on the part or interested par
tes VIII iail 10 have any force whatever with
Congress, and that they will authorize the road
20 be constructed on the plan submitted.
] have no doubt that through Its construct an
impetus will be given TO business IN all branches,
and especially Will IL be the means OF employing
many thousands OF people now idle. and start our
mines, mills, and manufactures generally. IL Ia
one Of he questions that nave nothing Whatever
10 DO with political issues, and passed at ali 1,
must pe by the active and good men OF pa.t ties
giving 1t support Tor the benefit OF the country q,
large.
THE JERSEY CHURCH WAR;
Gur pAsTop's POSITION UysETTIHD-sTATF-