The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-07-06
To the Capitalists, Property Holders and
Citizens Of New Orleans.

| The undersigned, presidents of banks and
| insurance companies of this city. feeling deep
| ~ the great importance of railroad connec-
| ton between New Orleans and the State of
| Texas, and believing that the present is the
most favorable time we can ever have to build
such a road, and knowing that the New Or
leans Pacific Railroad Company are
| about to place before our people q sub
scrlption to the second mortgage bonds
| to the extent Of S675,0OO, the proceeds
of which will finish the grading, bridge and
| cross-tie the entire road from Bayou Goula to
Marshall and Shreveport. which, when done,
will enable the directory to make a first mort
gage debt OF not to exceed $4,000 per mile,
sufficient to put down steel rails, build sta
tlon-houses turn-outs and place locomotives
and cars for two passenger trains each way,
daily, and at least 800 freight cars and loeomo-
tives to drive them-thereby putting the en-
| tire road In complete condition for freight
| and passenger traffic at q cost Of less than
| S15, 900 per mile, the smallest cost of any rail-
road, per mile, In this or any other country;
and further believing that some of our citi-
| zens may not have sufficient knowledge of or
confidence in these securities, and doubling
the ability on the part of the stockholders to
complete the road tho undersigned deem 1t
not improper, at this crisis and iuncture in this
great enterprise the success of which secures
the future welfare and prosperity of our State
| and city. to place before you, under our sig
natures, our entire confidence, after careful
examination, both rs to the certainty that the
road will be built speedily, If these second
mortgage bonds are taken and also that the
bonds will prove first-elass seven per cent
per annum interest paying investment.
And we further give it as our opinion that
these bonds will have standing in our stock
market, and will be received by our several
institutions as security for loans with as
much readiness as any other seven per cent
securities of our State.
We unhesitatingly commend these bonds
for investment, for the reason that when the
road is completed the revenues are morally
certain to not only pay the interest on tho
bonds. but give handsome dividends to the
stockholders.
If this loan is not taken, the work on the
road must be abandoned, and all subscriptions
to stock now made be greatly ieopardized.
1t will be u stigma and disgrace on our peo-
pie to fail in completing this connection with
our prosperous sister State and we earnestly
urge the attention of our capitalists. our
moneyed men, our corporations, and all
classes of our citizens to come forward and
subscribe to the loan.
Books for subscription will be found at the
Office of the company, and at the offices of all
the corporations represented by the under
signed:
4 SIHp JpN prpeiIpnt Canal Rank
SAM Il H. KENNEDY, President State National
Bank.
A. BALDWIN, President New Orleans National
| Bank.
L. L. CARR1ERE, President Citizens Bank.
j. G. NORRIS, President Hibernia National
Bank.
l.. B. CAIN, President Germania National
| Bank.
DAVID URoUHART, President New Orleans
Savings Institution.
j. II. OaLEsBY, President Louisiana National
Bank.
G. KoHN President Union National Bank.
JAMES JACKSON, Vice President Louisiana
Savings Bank.
JNo. T. HARD1E President Mutual National
| Bank.
THos. A. ADAMS, President Crescent Mutual
Insurance Company
Ed A. PALTREY, President Factors and
Traders ms Co.
JNo. HENDERSON, President Hibernia ms.
Company.
J. TUYEs, President N. o. Insurance Co
nj. MUssoN, President N o. Insurance Asso-
citation.
LLOYD r. COLEMAN President NJ and Trad
ers' ms. Co.
ERNEST PRAGsT, President Peoples Ins. Co.
u. MA1ER, Secretary Germania ms. Co
Fl. PEyCHAuD, President Hope ms Co.
A. CHIAPELLA, President Union ms Co
w: b. SCHMIDT, President Teutonia ms. Go.
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