The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-07-04
To the Capitalists, Property Holders and
Citizens of New Orleans.


| The undersigned, presidents of banks and
| insurance companies of this city, feeling deep
| ly the great importance of railroad eonnec-
| 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 q road, and knowing that the New Or
leans Pacific Railroad Company are
about to place before our people sub
scrlption to the second mortgage bonds
to the extent of $G75,OOO, 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 q first mort
gage debt of not to exceed $4,000 per mile,
sufficient to put down steel rails, build sta
tion-houses, turn-outs, and place locomotives
and cars for two passenger trains each way,
daily and at least 300 freight cars and locomo-
tives to drive them-thereby putting the en-
tire road in complete condition for freight
and passenger traffic at cost Of less than
SIS, 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 the undersigned deem it
not improper, at this crisis and juncture 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 as to the certainty that the
road will be built speedily, if these second
mortgage bonds are taken, and also that the
bonds will prove a first-class 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 the
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 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:
GEO JONAS President Canal Bank.
SAM'L H. KENNEDY, President State National
Bank
A. BALDWIN, President New Orleans National
Bank.
E. L. CARR1ERE, President Citizens Bank
J. G. NORRIS, President Hibernia National
Bank
T.. 3. CAIN, President Gernania National
Bank.
DAVID URoUHART, President New Orleans
Savings Institution.
J. I'll. OGLEsBY, President Louisiana National
Bank.
G. KoHN, President Union National Bank.
JAMES JACKSON, Vice President Louisiana
Savings Bank.
JNo T. HARDIE, President Mutual National
Bank.
THos. A. ADAMS, President Crescent Mutual
Insurance Company.
ED. A. PALFREY, President Factors and
Traders ms. Co.
JNo. HENDERSON, President Hibernia ms
Company.
J. TUYEs, President n. O. Insurance Go.
M. MUssoN, President N. o. Insurance ASso-
citation.
LLOYD r. COLEMAN, President M. and Trad
ers' ms. Co.
ERNEST PRAGsT, President Peoples Ins. Co.
| e. MAIER, Secretary Germania ms. Co.
III. PEYcHAUD, President Hope ms. Co.
A. CHIAPELLA President Union ms. Co.
W. B. SCHMIDT, President Teutonia Ins. Co.
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