New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-02-19
Railroads In Louisiana.

EDITOR REPUBLICANS: ,.r ~,
The Senate has passed a bill, which
originated in the House, confirming the
notarial act incorporating the New Orleans
and Pacific Railway Company, and grant
ing certain rights, privileges and franchises
thereto. :,
This is the third charter granted by the
Legislature of Louisiana since 1870. Be-
fore the war another charter, incorporating
the Louisiana Central Railroad Company.
was granted: all to run from New Orleans
to Shreveport. Up to this time none of
these organizations have made much head
way.
The New Orleans, Baton Rouge and
Vicksburg Railway Company was the first
chartered since the war 1S70). After the
charter passed the Legislature it was peck
eted by The Governor, who retained it nearly
a year before it became law, during
which time there would have been no
trouble in selling the bonds, with the in
dorsement of the State upon the second
mortgage bonds at the rate OF $l2 ooO per
mile. During the year that the Governor
had the bill in his possession, the bonds
could have been sold at ninety-four Or
ninety five cents on the dollar. After the
COMPANY had succeeded in obtaining the
signature of the Governor, which was done
after the act had been promulgated by the
Secretary of State and during the night OF
the last day of limitation, IN thirty days
thereafter the company crganlz ID. and I'M.
mediately perfected sale III New YORK OF
the bonds at elghty-ive cents on the dollar
to a German house; but, owing to the war
between Germany and France, the pur-
chasers declined taking the bonds and the
contract was Cancelled.
During the war in France the company
obtained, through their energy aud man
agement land grant from the national
government Of twenty sections to the mile.
and was made branch, by act OF { lngress,
of the Texas Pacific railroad from New Or
leans to Shreveport, which was great
assistance in procuring money'and influence
| for the construction OF the road. Alter this
| land grant was obtained. an agent was sent
| to Europe and the bonds sold to parties
! there, with a condition in the sale that an
| amendment should be obtained from the
Legislature of Louisiana that the name OF
| the company should be New Orleans, Baton
| Rouge and Shreveport, and that the ter
| minal point should be Shreveport IN place
of Vicksburg.
After the amendment desired was OBJ
tanned and ready for the Governors sigma
| ture. persons connected with the New Or
| leans, Mobile and Chattanooga Railroad
| Company interfered, SO that the Governor g
| approval could not be obtained until one
| wear thereafter. In the meantime, the con
| tract in Europe was Cancelled. owing to the
| company not being able to comply with
their part of the agreement.
Since then the financial condition OF the
| country has preve ed any negotiations be-
| ing made for the sale of bonds to build rail-
roads. When Colonel Scott made app!ica
ton to the national government for aid to
| construct the Texas Pacific railroad, the
| New Orleans, Baton Rouge and Shreveport
Company made application at the same
| time to have its road embo lied in that bill,
with the same national aid extended to it's
branch, which bill is now pending IN Con on.
| gress, with the prospect OF passing II let
alone We see by kilograms from Wash
| ington that Mr. DarralI member Of Congress
| from Louisiana, has offered a resolution for
no other purpose apparently than having
the land grant repealed so far as the New
| Orleans. Baton Rouge and Shreveport
| branch is concerned. This looks very
strange coming from member OF Congress
representing State so impoverished as
louisiana needing so much such assistance
| az this grant would give it in the construc-
| ton of this railroad. The people OF Louis
lana would certainly not indorse SUCH &C
ton on the part of it's Representative. but
! would most undoubtedly expect members
Of Congress to do all in their power
! to construct a railroad from New Or
leans to Shreveport, regardless OF .pri
vats interests or influences tnaC mlgn,
be brought to bear upon the members II
an Endorsement Of $4,000 per mile, which
is applied for. be obtained, it would enable
| the company to construct and equip first
class railroad from New Orleans 10 Shreve
| port, and relieve the citizens of Louisiana
from having to raise the money by ubscrip'
ton from the people. or taxing the parishes
| along the line of the road, which would
build but small part Of the road obtained
| in that way. In addition to this, money
would have to be obtained from abroad tt
! complete the road, or what had been invest
ed by the people and the parishes would be
| lost
The incorporators OF the New Orleans
Pacific Railway Company are men Of en-
| terprise and means, and will no doubt CO
al in their power to further the enterprise
that they are connected with, but at TIM
same time, it would be better to obtain az
Endorsement of the bonds OF road by tn'
general government, such as there IS every
prospect of the incOrporators OF the NeV
Orleans, Baton Rouge and Shreveport
Railroad Company obtaining by the pas
age of the Texas Pacific rail way bill, thar
by undertaking to raise such large amour
of money by subscription or taxation as i
necessary to construct this road.
Eighteen months from the passage Of tn
Texas Pacific railway bill. the railroad will
be built from New Orleans to Shreveport