The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1877-08-05

4 Il RIVE III IA OEN
of DIR. Reed aud others, and the par
Ties furnish Ties for ave months, They
learn there that Mr.. Henderson has
also made arrangements with the iron
company TO turn over 20 them the
bonds, etc, that no gets, and the
parties along the line begin To
worry about where their money
is coming from for supplies, ties,
etc. Henderson can't pay them,
I'LL he gets the bonds. When he does
get them he is TO turn them over 10
the Kansas Rolling Mill Company.
Then, oh then, what becomes OF the
men who have furnished supplies,
ties, etoetera
This was the light in which the men
on the line looked al matters, and
obenclmin and Pointer, 10 whom
Henderson owes some $4,000, put u
lien on the road. Other parties, be.
fore and after, followed suit, aud judy
Lment after Judgment has been put on
the road, and in all probability the end
il not yet, This scares The rolling
mills, and no more iron can DO had
until matters are settled. DR., Reed,
who IL the endorser for Henderson,
IL anxious the road should reach the
county line that he may get
his bonds, aud thus get the money
back which he has. invested, and has
slgnihed his willingness TO make sac.
ritlces to accomplish that end, But
the mills won't bulge, Henderson
can't get iron anywhere else, and how
matters are to be Strengthened We are
at Il loss to see. The directors are 10th
to give these bonds TO Henderson until
he has satisfied the claims which are
specified in the contract, Some Of the
board are OF the opinion that the Roll
ing Mill Company will gobble it all,
and that Henderson IL to get rebate
from them. Calder rests easy, there
being enough of the road laid to sat
isfy his claim, and the city bonds held
by him having passed into third par
ties hands. Altogether II Is pretty a
kettle OF fish as ever was fried.
One thing is morally certain, the cit
liens want the road, and are determ-
ined to have q,tid pro quo for the
taxes they are paying. IL Is getting
somewhat monotonous 10 them ia
have TO pay taxes on the Dallas and
Wichita railroad bonds every year,
and see nothing accomplished. The
citizens of Dallas consider that the
building OF this road to Denton Is %
, sential to the interests Of this city, and
will not sit quietly by and see a lot o
rayenous contractors and builders set
tie down like vultures on carrioi
body, and wrangle and fight eacl
other for the last morsel, leaving
them nothing but the bones for thel
Ia es. THE HERALD has no desire {
J., do injustice to any one, but has for II
object the promotion Of the bes
interests OF Dallas and Dalla
county. 1t cares not for individuals
The directory, the contractor, the roll
, ing mills, DR.. Reed, Brown, Smith o.
Jones are OF no consequence when
compared to the interests OF the peo
pie. This dead lock exists. Why
Because the interested parties are un'
willing to make concession. This
must stop. Somebody will have to
give way, or otherwise the citizens
will petition the Legislature for an alb
rogation of the charter, sand thus
throw these rapacious parties out, and
spply for new charter and build the
road.
If Henderson can not fulfill his con-
tract with the Dallas and Wichita
railroad company, let IL be forfeited,
and given TO some one who can and
will build the road, and the next time
contract Is let, let the directory
avoid the rocks on which the concern
split before, by reorganizlng and plac-
ing no one on the board who IL d.
rectly, or indirectly interested In any
contract connected with the construc.
tion of the road. If the directory, in
making the contract with Henderson,
had stipulated that sufficient amount
ofthe bonds and certificates should be
retained by the company, or set aside
TO pay the liabilities already incurred,
this trouble would not have arisen.
Instead of this, they made Henderson
assume them, and he proposes to
make the Kansas Rolling Mill compa-
nv preferred creditor, instead Of taxi
ing the bonds and pro rating them for
the Indebtedness. The debt OF the
road is about 100000. The only as
sets that we can hear of, are the eleven
miles OF road and certain securities
which are valuable, conditionally. AT
a meeting of the directory, yesterday
evening, the mortgage, as amended at
the request Of the Rolling Mills
company was signed, and DIR. Reed
will start to New York tomorrow
morning with 1t, to have the
bonds issued and countersigned by
| Allen. the trustee. This may relieve