The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1877-08-05
"OHAOS, COME AGAIN."
The Dead Lock on the Dallas and
Wichita Rallwaya Kilkenny Fight
Tho Taxpayers Cry work,
or an AbrOgatlOn OF
the Charter
A Little Light on the Inner Working Of the
RavenOus Combination, as Cleaned
from the Parties Interested In
.6Obbllng Up the Tax.

The beauties OF Members OF the Direc.
tory BeIng Individually interested
ia Contracts.
The question now on the lips Of
everybody we meet, IL "What is the
matter with the Dallas and Wichita ~
The only answer we can give Is the
one-that Sothern uses "Well that Ia
one OF the things no fellow can fnd
OUT For the last week our reporter
has labored assiduously to tind out.
He has interviewed, director, contrac.
tor, employee, capitalist and taxpayer;
searched the records of the courts, read
petitions, cOunter-petltions and con.
tracts heard arguments, deductions
and logic, first from one side, then
from the other, and he IL free TO state
that more conglomerated mass OF
diversified interests, and more deter
miued expression OF discomfort among
the parties interested towards each
other, never spraug into life before ON
such small basis.
In the midst OF all this, one glaring
fact st0res the Taxpayers in the face,
and that Is, that he is annually paying
out his money on Dallas and Wichita
railroad bonds, and SO far has not de.
rived any benefit from it, nor is the
prospect any too cheerful that he will,
IN all time to come. The taxpayers
of Dallas have paid, up to the present
time, in the ueighhorhood of $1,000
taxes on the bonds. This money IL
paid out to the holders OF the
coupons, (of the fifty thousand dol
lar bonds issued by the city,
and yet the road is not in operation.
Under the present charter, which was
extended last July, the company, If
they build the road, will have the BEN
eft OF certain franchises, which are
much more advantageous than could
be obtained again, and therefore any
attempt to let this one expire and die
out would be poor policy in the ex'
IRENE. 1t is claimed by some that thu
charter expires on the 2lst of this
month, and 10y Others that 1t holds un
til next July. This is matter of law
ON which we are not prepared to give
an opinion.
The franchises Ct the road with good
management are ample TO built the
road, and to handsomely remunerate
those who construct 1t, but IL IL not
sufficient, when there ia "A desire on
all sides to gobble, and take 1t all. The
PEG pie of Dallas have no objections to
see the contractor, mill or capitalist
get well-paid for his work and invest
ment, but they do, and will object most
forcibly to any one man, clique or cor
poration setting down on the work,
and by playing freeze out, slaughter
the balance. Eleven miles OF the road
| Is built, and cannot be interfered with.
1t will hold good 10 far as 1t goes, and
is sufficient to indemnify all who have
lust claims against that much Of the
road, IL the charter was abrogated
tomorrow, the eleven miles would
hold good for the Indebtedness OF the
road. The fuss and stoppage OF the
work is.on account Of the Kansas Roll
ing Mill Company, who refuse to fur
nish any more iron, till they are prop
erly secured. This looking simple
enough, the question arises. Why
does not the Dallas and Wichita Rail-
way Company secure them? All,
thereby hangs tale, which we VIII
attempt TO relate rs given to us by the
different interested parties, Of which
there are great number, and no
two OF them representing the matter
alike.
Our citizens are all familiar with
the history of the road up to the time
when Calder stepped down, and the
present directory were put In. UP to
that time a certain amount OF work
had been done on the road, and Calder
and Others had claims on the road
amounting to over $4,000. The new
management, Mr.. Henderson, then
comes forward and makes a contract
with the company to build the road,
for which he IL To receive the first
mortgage bonds OF the road, land GER
tifieates and other securities. In this
contract there Is a clause which pros
vides that Mr.. Henderson shall assume
10 nay all Just claims against the road
nm tn a certain date. Mr.. Henderson
has no money Of his own, but he in
duccs capitalist named DIR. Reed
m advance him money and to
90 his security to the Kan
sas Rolling Mill Company fer
iron by signing notes with him. Mr..
Henderson then makes a contract
with the Kansas Rolling Mill COM
many TO turn over to them the bonds,
mortgages aud franchises, which he Is
IN receive from the road as collateral
10 secure the payment for the iron. In
the meantime, Mfr. Henderson makes
a contract with Pointer q Obenchaln
TO furnish ties, aud agrees to pay them
an the fifteenth Of every month. This