The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1876-05-09
ASSETS DUE THE COMPANY WHEN COM

The present officers of the company
have not issued any stock since they
have been In charge of the road. There
were one thousand two hundred
eighty-two shares of stock issued by
old board OF directors, Of which three
hundred and twenty.seven shares have
been purchased by the com
pany through its presant direc-
tory and retired, leaving nine hun
bred and ilfty-hve shares outstand-
Ing of which the city Of Dallas owns
five hundred shares.
Mr.. Wheat called attention to the
fact that under the charter the COM
pany can build road from Its main
line to the city OF Denson, privilege
which, II he owned the franchises of
the company, he would estimate as
worth at least seventy-five thousand
dollars, and one which, If this charter
should be lost, we would not be likely
to get from any future Legislature in
Texas. In conclusion the speaker
called upon all persons interested in
the prosperity and growth Of Dallas to
come to the rescue of the Dallas and
Wichita charter, which will be for
feited unless five miles Of the road be
completed, ironed and In running or
der by the first day OF July next.
In response to question by Judge
Thurmond, the Chair stated that he
was of the opinion that II the charter
should be forfeited the city of Dallas,
which Is stakeholder, would lose the
fifty thousand dollars in bonds issued
to the road as stock subscription
unless there was some provision to the
contrary in the charter.
Remarks upon the Importance OF the
road were then made by Colonel Oben-
chain and others.
Captain s. ]. Adams stated that he
had heard that 1t was charged that he
and his firm OF Adams n Leonard were
opposed to the Dallas and Wichita
Road, and working against 1t In the
interest Of the Central Railroad. He
said that this charge was untrue that
he had as little interest in the Central
as any body and as much interest In
the Dallas and Wichita as any citizen
of Dallas, in proportion to the amount
of property he owned that he was
anxious to have the road built, but that
1t took money to build railroads, and
before we could get business men to
take hold Of the construction of the
road, the matter must be placed upon
such a footing as will commend 1t to
business men; that the difficulty In the
way Of getting responsible parties to
undertake the building of the road are
that we have not secured any right of
way from the proposed junction with
the Texas and Pacific to the northern
limits of the clty-which is necessary
before any iron can be laid-and
that the company owes certain debts
which must DO paid before parties
would undertake to build the road. He
said that he was authorized to state.
and he would guarantee that he will
within twenty-four hours enter in a
contract with the Dallas and Wichita
Railroad Company for responsible
,arty, whose responsibility he would
to build the road TO the
Denton county line at as early day
IS the Directory have contemplated,
provided that the President and Di-
ectory will guarantee that they will
ecure the rlght-of-way to the city
limit, and pay of the Indebtedness
contracted since the first of January. /
Mr.. obenchain stated that three 1
thousand dollars, at the outside, would !
secure the rlsht-otway, and that the !
'ntire amount which would have to be q
'aised by Captain Adams' proposItion f
would not exceed eight thousand dol. :
airs, which he thought could easily be !,
aised.