, 1876-04-25

ll1A ClAlCAGl
which seemed vory favorable to tho purchaser,
veesmonts Of this Hind ,woro fatally pom:
Mlas. In common with hundreds Of
pssta OF the country, bought aomo Of theso
bonds, not worry large amount, paying ior thorn
at precisely tho aafno rata that othorn paid. I
noycr hoard, and do not he1lovo, that tho Little
Rock Company, Which know Is controlled BY
to any porsou except at tho roQular prfco 1xca
for their sale. The enterprise. though appar-
emily very promising. proved unsuccessful. ar
did 10 many similar projocts about tho aano
kitno. loat considerable aum Of money,
OVER TWENTY THOUSAND noLLAR4,
eland, .,7o. mado ~. no. l0ss Il e2.ooo.ooo ln
has lost ovor *1o0,00o,000 by similar von-
suren West aud South within lilo last
twelve years. In addition to my Investment in
| bonds, I uulsod with o.hota tn rhising some
noney for tho Company wlon II met its ilrst
financial troubloa. proceolings nre now pond
ing in tho United sthtoa Circuit Court In AfEan.
sha, to which I am party Of record. for reim.
! bursernent OF tho money 80 advanced. All tho
bonds which eToF purchased I continued to
hold, and nl,on the Company WAS roorgantzod
tn 1874 exchanged them FOR stock and bonds
In tho now oonccrn+ which sti own. BY ulolo
connection with tho road has boon open aB
day. II tl,ero bad boon anything. to conceal
nbout it mover should havo touched It. WLer-
evor conceh!snent iaadesilahle, avoidance is ad-
viaablo; and do t0t know any hotter tcst to
apply to thu honor and fairness Of buH,ncss
transaction.
Az to tho question Of proprio.y involved In
member OF Cungroas holding an Investment Of
this Kind, 1t must DO remembered lilo lands
| wore granted to tho State Of Arkansas and not
to tho Ntiifosd Company. aud that tho Com
,rFtVaI ifA 1tfN and .r1X
u from tho Statc, aud To tho State the C,mpnny
IL aulonablo and anaHerable. aud iii no sonne 10
Congress. s'nco purchased Tue bonds but ono
aet oi uonatoss naa paasoa n any WAY touching
,mo nrovn: a iG, mns efe to Geey
any socaFa.y, '19A ooseI!nen. ,i,i no',os 10 town
scrip. Is oneroa at pubic sale to any ono who
can pay 1Hf H.
. EsEnY AMEn1cAN ci11zEE IS FREE TO DuY.
II Yon exclude Representative from tho in-
| gostmont on tho ground that ia secondary OF
teuaoto why tho legislation OF Congreas has af-
fccted or may affect the vauo Of tho artlclo then
you exclude every man on this floor not only
hs5g mat I soo ,9n oona od 2, sheEo @ n
sheep. Or held o. hemp. Or tobacco planta-
Lion, Or cotton mill, os an iron furnace for all
theao lntefGsta arc vitay affected BY tasif legs-
Tns we vgss at sys sesso And
Ing ~ Conmittoe Of tlo Whole.
IN tho soYon intervening years since tho Little
hock q Fgtt Smith oonda wore placed Oh tho
market, kn2w ICY IN Investments IT; tint have not
been more aIected BY tho Liquidation Of Con-
groee but tlia case does not require to be
shielded by any auch comparisons or citations,
Tor repent TUG Little Rock Road derived all it
had from the state q Arkansas and not from
Congress. It was tu The dlBorotton Of C0ugEeBa
to Glvo or Withhold from tho State. but It Was
solely n tho discretion Of tho State to give or
withhold from tho Little Rock hailtoad COM
rany. Whon the Ltttlo Rock Road fell Into the
NJ lyau nltnft
wero certain interests connected With 1t that
wore under
PECULIARLY rmrnEss1N3 EMnAnnAgsuEu7s,
and that needed roiof Tloro had been, at tlif-
ducng t1o Atantio L Pacific Iloatl, which, on it's
aouthorr branch, vas to bo conuoctinr l;uo
| eaHt and wcBk with the Ihttlo noci 4 Fart
Smith aud Missouri, Kansas l. Texas Isoads.
aud south at a point Of Junction to aid tllo
Litt.o nosk / Fort Smith ontorprise by taking
}spme Of It's securities, practice verY common
I roaug connecting roads. 10 both Of thtsc
IN tho spr,t2 ,g1,nns3;, ';2nortanco. Accordingly
honn nasscd hv III ,ttie nocF ono coupon had
' snrins al ita bonda and nouo pnsst,y on Que
!. nti,or. md when thoro Wss a yap9uino hopd'g
2 atlantic Ati L Pacific Co Goupany took s1oO,Ooo Q
ia Bonds and slO0. .00O OF is stock for tic gros
, sum OF e7o.000. Ind tho MISSOURI, Kansas
s To1as, il I romombor correctly. took half th
| amount at TIM phmo rata. 11H nRa don
M, for tho cornorstIon itsolf. but for q,
intnrnst 1nrrolv ouunoed In tho constructso
!. NJ thn mad. With Tia oiron1netat,ceB attcudiu
. shs neeotintton with tho Atianttc 4 Paoitio Hoa
/ vas outiroy familiar aud with several Of is
{ ofac"rs + hSye innr boen we]i acnnnintoi.
q nao know nf lie noeotistion with tho 3IisBour,
. Tnnsss l. TnInn load. tnouch neycr to M
tnnTlodeo saw INV OF It's officers, and uoyor t,e
an iutofyiow with any Of thom on any subject
INT IN case Of boti, roads doairo to aay that tn
. hnnis snid to thom aid not boluur to mo nd
J dii hayn ouo do|lar'e pccuu!ary interest in til
Q 1y,1n1o transnction Will. o}ther coulnony. Til
u ;nfno7ors Ineinnntion mntlc in certain 0uartD1
/ that ouuacoi 10 use nv Influence in Congress
I fnr thn Htlnnttn 4 Pnei6o Road. and also fof til
i SItasouri Knnaag & Texas. in consideration {
d tin;r nnrclaa1np theso aecurtios.