The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1877-07-07
Glory Enough for One Day-The
Dallas and WicIlif., Matters
in II Favorable Condition.
The Board OF Directors Issue the First
Mortgage Beads. intervening interests
are harmonized, and Resumption
of Work Assured.

looked very sqnaiiy for some past, and
The HERALD feared that the diverse,i
interests would defeat the project, and
that Dallas as q city would suffer
from the inability OF the interested
parties TO come to An agreement and
understanding. To get ut the bottom
facts our reporter first Interviewed DIR.
Reed aud MIR. Shields, at the Lamar
hotel. and this is the substances OF
what he CLEANED from both of these
gentlemen. who are doing their level
best to push the good work ahead.
Last "Wednesday morning, Messrs.
CASTOR, Reed, Mcclure and Shields
got together, aud began discussing the
question. They took the assets of the
company and commenced scaling
down to see how they could be divided
among the different interests, Ia order
that work might be resumed aud
the road pushed forW ard. These gen.
tlemen worked Wednesday, Thursday
and Friday, ard their isbors brought
forth fruit yesterday. The board ol
directors met ut the compapy's office,
at O'Clock p. M, aud were In session
until half past seven, when the follow.
ing resolution was passed:
BE IL RESOLVED by the Board of Alder
pseii Of The Dallas and Wictita Rasl,
road CoRipdyy, That the bonds and
coupons referred 10 in the resolution
adopted ut the meeting of the stock
holders, held May 23rd, A. ID, 1877,
To wit; Twelve hundred ami any
bonds at one thousand dollars each,
anu said interest coupons be signed
aud prepared, ready to be issued in
the manner pointed cut by said stock
hDlters' resolution, and also that the
deed of trust referred to in sai,. reso-
!ntiCn, he signed aud prepared TO be
executed and recorded in the proper
county .nd counties. That said bond l.
and deed OF trust, when so signed and
prepared shall be held by George NJ.
Swink, rs trustee, aud shall not ba Is
sued or delivered until the road be
completed to Lewisville, in Denton
county, and be il further
Resoiued, That said bonds shall
be held by said trustee for nine.
ty days after the 18th of July, A. D.,
1877, and also uatil he be directed "a
issue aud deliver them by the directo.
ry to the company.
All Interests are hereby harmon
ICED, they say, so far rs can be seen.
The Calder claim is provided for, the
Kansas City rolling mill company al
lowing percentage of their bonds to
be put aside towards satisfying his
claim DIR. Reed has released seven
thousand in city bonds. BY using
these bonds the twenty-mile point can
be reached. aud from there to Lewis
vile it is but three miles. DIR. Reed
says he will do as much as any other
man to push the road to that point
When that Is reached, northern
capitalist offers to take the bonds
at fair valuation, and money thus
raised will pay up all back indebted'
ness, and carry the road on to Denton
The resolution, as seen above, ISSUED
first mortgage bonds on one hundred
miles of road at Sl2,500 per mile
These bonds are held by Cap
ain Swink as trustee.
DR.. Reed seems very anxious to SEE
the work go on, as he has invested &
great deal of money, and spent hi,
time and labor. He is willing to In
vest still further to get out his original
investment.
Leaving them, our reporter searched
and found DR.. Calder, and asked al
expression from him. The doctor wal
somewhat non-committal. He sale
that one good thing had been done
| and that was the calling into existence
the bonds, as they will form founda
ton for future operations. He seemed
to express doubt, however, as to tn,
action OF the board yesterday bringinl
about an immediate resumption OF
work on the road, as he doubted IL the
means could be procured, or that tn.
Kansas City Rolling Mill Company
would agree TO this proposed plan. but
he seemed on the whole, 10 be
satisfied with the days work
Going still further, our reported
hunted up Mr.. Fenton, who represent
ed the Kansas Rolling Mil Company
interests, and asked him what he hat
to say about the matter, and IL h,
thought his company would accede t.
the proposed plan of operations. Mr.
Fenton replied that while there ar,
some objections to the plan proposed
yet as the bonds were issued and tn,
mortgsgee placed, the defects In tn,
resolution could, he thought, be recti
fed.
In conclusion THE HERALD would
say that while the aspect Of affairs a
present Is quite pleasing, through Il
all there does not seem to be any tall
Of Henderson. Whether Henderson
10 bat q factotum OF the Rolling Mil
company or not we don't know
neither are We very particular
about It. The HERALD has bu,
one object in view, and that In th.
early completion Of the road to Den
ton. It is Of vital interest to the city
and the city has pledged her credit
and issued the bonds on which II.
people are paying the texes. In jus
tice to them and to this section of the
country, the directors Of the road
should strain every nerve to bu,id thi.
road in time for the fall trade. 1t car
be done, and to those who are instru
| mental in doing 1t, The HERALD viii
accord all praise. 1t cares not for in
dividuaIs in this matter. II is onl,
anxious for the public good, which
hinges on the completion Of this in
dispensabie trade artery.
ssasessnanship Waasea IN Eurepsau
Pelitses.
New York Bulletin If it were posi-
bic to count upon broad and cosn,o
politan craftsmanship prevailing at this
courts Of Europe in this crisis, we NIGH
hope for an Important good to CONS
out of this war The mutual iealousie,
of the several governments have driver
them int, military and novaf a~,.,...l.