The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1877-08-11

fact stares the Taxpayers Ia the face,
and that is, that he is annually paying
out bis money on Dallas and Wichita
railroad bonds, and so far has not de-
rived ally benefit from il, 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 neighborhood of S, 900
taxes on the bonds. This money is
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 Jny, the company, if
they build the road, viii have the ben
eft of certain franchises, which are
much nore advantageous than could
be obtained again, ami therefore any
attempt 10 let this one expire and die
ont would be poor policy in the ex-
IRENE. II is claimed by some that the
charter expires on the 2lst of this
month, and by others that il holds IN
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 remuDerate
those who construct it, but 1t Is not
sufficient, when there is desire on
all sides to gobbie, and take it 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
foreibly to any one man, clique or cor.
poration setting down on the work,
and by playing freeze out, slaughter
is built, and cannot be interfered with.
1t will hold good SO far as It goes, and
Is sufficient to indemnify ali who have
just 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 han gs tale, which we will
attempt TO relate as given to us by the
different interested parties, of which
there are great number, and nc
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 certain amount of work
had been done on tine road, and Calder
and Others had ella inns on the road
amounting to over $500 The ne~
management. Mr.. Henderson, then
comes forward aud makes contract
with the company to build the road,
for which he is to receive the first
mortgage bonds OF the road, land GER
tificates aud other securities. In this
contract there Is clause which pro
| vides that Mr.. Henderson shall assume
to pay all just claims against the road
up to n certain date. Mr.. Henderson
has no money OF his own, but he In.
duces q capitalist named Dir. Reed
TO advance him money and tc
go his security to the Kan.
sas Rolling Mil Company fci
iron by signing notes with him. Mr..
Henderson then makes q contract
with the Kansas Rolling Mill com.
pany to tslru over to them the bonds,
mortgages and franchises, which he Il
to receive from the road - collateral
to secure the payment for the iron. IL
the meantime, Mr. Henderson makes
= contract with Pointer 4 Obenebain
to furnish ties, and agrees to pay them
on the fifteenth OF every month. This
be does not do for the best reasons: he
has no money except what he borro ~
/ of DR.. Reed and others, and the par.
ties furnish ties for Ave nonths. They
learn there that Mr.. Henderson hae
Also made arrangements with the iron
company To turn over to them the
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