The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1878-06-26
THE JACKSON, NATCHEZ AND
COLUMBUS RAILROAD.
wnot ,he President Of the Conn
Pany HAS 40 say Concern
the RepOrG Of GIae SPee1"l
Committee.
A Free an Easy Talk Upon Matters OF In
terest to Kinds County.

| a rpDorter OF the CLARION lu proven wv "
portunitv TO interview him on the suhJec'
| of the Report of the Committee whlch ""'
commissioned 10 examine into the AFFAIRS o'
Tho road and which will be found on an
other nave of this paper The General was
a. usu.l frank. open and communicative on
! tba subiect of the enterprise OF which he Is
the master spirit. and the following Is
about the substance of the interview:
You have seen. General, the report OF the
Committee have you?
Oh. YES. and nave read it carefully
| imagined the Committee was composer o.
gentlemen who were not friendly TO JhS
| subscription, bat anxious that the investl-
canon should be free and full, placed al
the books and papers of the corporation al
their disposal. Held nothing back.
! What about the report?
In the first place, it shows honest and
economical administration all through ano
| a first-rate road in all respects and that Is
gratifying 1t is eminently favorable 70
the directory, and does not reflect on theiI
| Indictment or acts, but contains conclusions
and opinions by worthy gentlemen not eX
pert in railroad building whose opinions
therefore are worth no more than the
opinions of otLer citizens hostile to sub
scription.
The report suggests that the engineer
understates the cost of building at $4,000
per mile and says that it should be SIO,0OO
or $1,000 What about that?
The engineer is able and experienced IN
his profession and his estimates are enti-
tied to full credit. They are above, rather
than under what will be the actual cost
You y i'll observe that they have given no
reason whatever for their crude opinion In
the eport they give the cost of Red Lick
extens on at $53, % 81 for miles, which Is
less than 81 600 per mile, including line
iron bridge. Hence say chat the engIn-
e4r's estimates are above ratler than below
the cost.
What about the trouble in selling your
Adams county bonds? That is easily eX-
planned. LIST. CorrupJ govern ment. 2nd.
ring, including the President OF he Board
of Supervisors who were trying to obtain
possession Of the road. 81. 100000 were
subscribed on property assessed at less than
81 100000. The committee did not mention
these facts. The report fails to show what
the committee knew, that our citizens took
all the railroad county bonds-alI our first
mortgage bonds. Not a dollar is held by
any but our own people. This is an exam
pie of what our people are doing. Has it
ruined them? See our oil mill, factory ana
improvements all over the city of Natchez
and county of Adams. The committee
might have reported the fact which was
communicated To them that the voting OF
railroad bonds in Adams county, raised the
price upon the other and the older county
bonds, for the people were sensible enough
to know that a railroad would increase the
county's ability to meet its indebtedness.
The stock will pay the bonds. The Presi-
dent of our Board of Supervisors, an old
reliable and shrewd merchant told the com
mittee that this was getting to be the opin-
ion OF our taxpayers.
What about the statement that the assess
ment In Adams county, will be 50 90 per
81 900 for railroad interest?
1t is not so. The tax is not assessed yet,
and if it be 80 this win include a sinking
fund. Adams county has reduced the rail-
road debt already $4,000.
What have you to say touching the state
ment about the cost of completing the road,
the debt, selling out, etc. ? Our tax payers
want to know about that.
The road will cost, say 50 miles to Jack
son, at $4,000 per mile, $4,000, for which
we propose to give mortgage bonds on that
part of road. Deduct, however, 100000,
to be realized from Kinds county DO nds,
and you have $2SiO0O, add present bonded
debt $145,O00 and $42j,000, which will show
total bonded debt, or on 80 miles 81 POP %
per mile-not half the value of the road
and equipments. The idea of selling out is !
preposterous. There can be no such thing.
The report admits $4,000 of earnings on
26 miles of road in poor country, but fails |
to give any credit for earnings in its calcu- !
lations for the future. This is unfair. The !
net earnings from Martin will be 100000 per |
annum. The whole earnings on the road |
finished to jackson will not be less than |
100000. If bondholders desire to pay the |
interest on county bonds, we can do it out |
Of the net earnings, or we can put it i'm the |
road. All narrow guage roads, because Of |
the cheapness of their construction and the 1
small cost of operating, pay. The Commit |
lee apply rules which are only applica-
Die to broad guage roads. costing from S2O,- |
200 to $4,000 to construct, and twice as
much as ours to run and maintain. They |
make no allowance for this. l defy the /
Committee toshow narrow guage road, ex-
sept one, in the United States that has been
sold for debt, or that has been put in the
hands Of a receiver, i'm the general wreck of
and there are many thousands of
niles of narrow gauges.
One reason advanced by the friends of the
road is that it will produce competition
ard reduction of freights and fares In
consequence; Can you throw any light on
hat subject?
Oh, yes. | noticed the report was silent
lpon that point. The saving to the public
VIII De very great. The committed might
rave furnished statement of the tariff Of
relghts and fares on the part of the road !
We are now operating. It would have
spoken for itself and would have been
powerful argument in favor of subscriD-
ion.
One question more, and a very i'm portant
'ne suggested by the report, and that is az
% When your mortgage bonds will m ature
NO part OF our mortgage bonds will ma
ure before October, 1880 Those carried
~ the second mortgage bV an agreement
IN file in writing, signed BY the holders. are
postponed in payment of principal until
october, 1880. If Kinds county will come
o the aid of this great enterprise. 1udping
rom lhe eHect IN adams county, her out
landing bonds Will be enhanced in value |
Ter taxable property will be increased. and
places that are now vacant and desoIare | [
VIII become populated wealthy and tax /
producing.
Only one more question. II Is stated that
ne resolution OF your Directory to carry 4
ne road 10 Crystal Springs, or some other
'oint, in certain contingency is designed 8
5 threat to bulldoze Kinds into voting
lac subscription. '"s
Nothing was further from their intention
We simply meant that we are com pelIed To
ave an outlet-to have commnnIcation
Ilth other lines. We can't stop wav of In 7
ne ihteri 10, az nowhere: Crystal Springs I
ackson is. and we might 90 there urith H