The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-01-04


s State, and the serious damage which
the large issue of bonds by the STATE to thi
9 and abroad. While it is true that the genera
: financial stringency prevailing for the last few
t years all over tho country has affected NOR
o or less every railroad enterprise, this fact i
k entirely insufficient to accoun. for the ute
e failure which the New Orleans, Mobile ant
Texas Railroad has made to comply with an,
l of its obligations to the State. As elsewher,
mentioned, most of the bonds issued to tn.
company are contested by the State, and ar,
, now before the courts awaiting decision
deemed it no more than justice to the tax
f payers OF the State to put IN litigation the Va
, lldity OF all the obligations issued to the com
pany which still remained open to contest.
!, During the summer Of 1875 number o.
prominent citizens of New Orleans repre-
sented to me that if the parties in interest in
suit then pending in the United States
Circuit Court between the State and the
Mobile and Texas Railroad Company
which suit it was stated could in no event
inure to the benefit of the State, bu,
which, while pending, retarded the efforts
OF those interested in the com letion of the
road, were submitted to the court, so tina,
it could be promptly decided, company
could be formed in the State itself which
would be able to push the road to CON.
pletlon. Upon the advice of eminent coun-
sci thoroughly informed on the merits of
the case that there were no legal rights pos
sessed by the State which could in any
manner be concluded, the case was submitted
on briefs. A decision was subsequently rem
dered vesting the title to the road in the first
morgag bondholders, and affirming the ad-
| vice given by the counsel for the State, that
| State nu6 mr. ub boy
been enforced by this suit. Negotiations are
still pending with view to an early resump-
ton OF work upon the road, but I am in.
formed that much difficulty is experienced by
reason of the impracticable demands which
those controlling the road present l recon-
mend that you authorize all investigation into
all matters connected with this railroad, to the
end that the exact status of the road may be
known.
THE TEXAS PACIFIC LAND GRANT.
When serving the State in the United States
Senate l introduced Senate bill No. CIT, to
aid in tie construction of railroad and tele-
graph line from Marshall, Texas to San
Diego, on the Pacific coast, with branch to
New Orleans. During the following session
this bill passed the Senate, and subsequently,
on report of committee of conference
passed the House, providing for a branch
road to New Orleans, and was approved March
3, 1872. There was at that time In apparently
active existence in the State q corporation
known as the New Orleans, Baton Rouge and
Vicksourg Railroad. This road Was originally
intended to be constructed TO VIcksburg,
but the charter authorized the building OF
road from New Orleans to Shreveport.
The company had, in fact, made a survey of
projected line OF road from New Orleans,
via Baton Rouge and Alexandria, to Shreve
port. This route being in accord with the |
projected collateral branch OF the Texas Pa
cic Railroad, that bill granted to the New
Orleans Baton Rouge and Vicksburg Railroad |
Company ten sections of land on each side of |
their pr jected route, designated by odd num-
bers, ana provided that the company should |
complete their road within five years from |
the date of the passage of the act. The lands
thus granted, amounting, according to the re-
port of the Secretary of the Interior, to over
IL SOC, 900 acres, were subsequently withdrawn
from the market, and still remain withdrawn
from entry or sale.
l regret to say that, like other companies,
the company to whom this grant WAS accorded
a grant which, in any Western State, would
be sufficient OF itself to build the whole
road-has remained inactive Those in charge
of its affairs have Lot had the ability or tbs
financial capacity to utilize the resources
placed at their disposal.
The Texas Pacific Company have completed
their road to Fort Worth, Texas, thus giving
an uninterrupted communication of over
three hundred miles west from Shreveport
connecting with the interior of Texas by other
lateral railroads. Il may safely be assumed
that the wants Of commerce will compel the
Of this road, at an early day. at
at least to Ell Paso. The question now is, by
what means can a direct communication be
established by railroad between New Orleans
and some point at or near the eastern terminus
of the Texas Pacific road.
The Senator, and a member OF Congress,
from this State, have recently introduced into
each House of Congress, bills which under
stand provide for aid in securing the payment
Of interest on bonds to be issued by the CON-
pany to the amount of $4,000 mile upoa
the incomplete main line of the Texas Pacific
and to the amount of $50 600 per
mile for the projected lateral lines, one OF
which connects with New Orleans. The lower
House of Congress appears to be composed
If members, a majority Of whom are, on
principle, opposed to national aid to works Of s..
his nature. 1t is partic ularly unfortunate :
mat at this juncture, when the State is Begin =.
hing to recuperate from its long prostra,ion, =,
hat there should be SO little prospect of re-
sewing that assistance which has heretofore
,een gwen with lavish hand to enterprises i.
If like nature, and which think we have the :
light to ask from the General Government, :
both for our railroads and our levees. =
While hoping that the efforts in behalf of !
he existing Western railroad connection with
southern Texas will be successful it is incum-
,ent upon US in the meantime to use all pos y
IDLE efforts to help ourselves. In my judg- 7
lent the most vital connection in the inter- {
SITS of the city and of the entire State is that :
y the way of Baton Rouge, Alexandria aud +
shreveport to some point on the line of the q
'exas Pacific. Such connection would open 9
p the whole Red River Valley which is now 4
losed to navigation during large portion of s
he year, and which comprises some Of the q
nest and most productive lands of the State ;.
During the summer Of last year the New o
'rleans and Pacific Railroad Company was c.
under the general laws of the p
tate. This company has thus far mani t.
ested an energy, enterprise and vitality in g
contrast with the supineness of Il
Their companies heretofore Incorporated by %