The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-09-01
THE NEW ORLEANS PACIFIC RAIL.
ROAD,

The subscriptions to the New Orleans Pacific
Hallway Oompanys first mortgage bonds are
gradually increasing. Those who show n re-
luctance to put their names down for these Sc
curities should bear in mind that by the time
the bonds are paid for some will have been en-
graved and ready for delivery. SO that subscrib-
ers can II they 80 desire, obtain money from
our banks on placing these bonds as collateral
to within small margin of their value.
The company assure us that the road can be
| completed and put in running order in n wear
from now. If bonds to the amount of se75 600 are
taken here promptly, as the payments reeeiy-
| able on this subscription would enable the c,m-
pany to put 1000 men mt work. not only in COM
pleting the grading, but in building bridges and
procuring cross ties. etc. The greater portion
| OF the entire grading is done and the balance is
of light character, the swamp parts along the
| line being already Whiting for the cross ties
! We call particular attention to the following
fact, that since 1T. Louis built her railroads and
| took from New Orleans a trade which the latter
| had benefited from and thrivcn on. although,
communication was slow. and at some seasons
| difficult the population Of our sister State has
increased from 1000 to 800 900 inhabitants or
over. and 1t is fair to assume that the trade of
Northern and Northeastern Texas has trebled
| since that time: so If we admit st. Louis even
with road of UP grades and 22s miles longer
from Marshall than the New Orleans Pacific
line from this city to Marshall. to be able to cut
freight rates SO low and Otherwise TO hold on to
81 per cent of her Texas trade. allowing only 50
per cent of this trade to seek New Orleans. we
should regain the amount Of comm cree we lost
Ave years ago.
1t strikes this is q matter worthy of the
closest attention of our business people and all
those who have any interests In this city, as her
prosperity depends upon our commerce. and
the values of real and personal properties are
Immediately and senstivey affected for better
or worse by the increase or dimnution of our
volume of trade.
1t is contended that only those in active
business will receive u benefit from an in
creased trade. but this is SO narrow u view as
to be held only by few. and we fear used for
the most part. as an excuse for not lending aid
to the undertaking.
1t is true. those In business will receive a So
called direct advantage. because it is a more |
apparent one, but does not the house owner re-
ceive direct benefit If Mr.. A. comes here and |
rents store an office in which to do his bust
ness. and house in which to live? And those |
who are already established in business, owing |
to more trade employ more clerks and pay
higher salaries to those on hand. some of whom
go from poafdfhg 10 housekeeping; IS not this
a direct benefit to the property holder?
If we assume the value of cotton. grain stock.
etc. as estimated in the companys prospectus,
which, we think, is not at all colored to be rep
resented by s40,o00,0Oo, and this amount to leave
only in drayages, commissions. freghts, etc.,
five per cent and cotton leaves more than So per
bale. there would be thus accruing 50 100000,
among our people, equal to $40 per
heaazoer annum for every man, woman and I
ehil(sin New Orleans.