The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1879-06-20
w., 8. & +. RAILROAD.

w., 8. & T. RAILROAD.
rShreveport Times, l5th.l
Mr.. VIM. III. Wise, at meeting of
the directors of the Red River and
Mississippi railroad company, gave an
elaborate and highly interesting re-
bondholders of the Vicksburg, Shreve-
port and Texas railroad met to discuss
the question of purchasing the road at
the approaching sale.
These bondholders, many of whom
are men of capital, were from New
York, Philadelphia, Mobile and Geor-
gia. The latter, for the most part did
the grading and the work of the road
now in operation and in payment there
for received two bonds which they
now hold. The principal of the bonds
amount to $76l 200, and tho interest,
which has been running since 1862, has
run that sum up to 81, 9O0, 900.
The amount to be paid Ludeling &
Co. when the sale is made will amount
to about $3.50, 600. The convention re-
solved to have representatives at the
sale to protect their interests, and ap-
pointed an able committee with Gen.
Henry n. Jackson, prominent law
yer of Savannah, at its head. The
property to be sold is the 20 miles be-
tween Vicksburg and Monroe, and the
20 miles from Shreveport to the Texas
line, besides rolling stock, equipments,
etc., and such of the State land grant
as the road earned, which amounts say
to $2lOO per mile.
We are not authorized to state the
amount to which the bondholders will
run up the property, but can say they
put no small estimate upon the proper
ty as it now stands. They are further
! more with US in the opinion that it
will be the best paying road in the
country when the gap between here
and Monroe is completed. If they be-
come the purchasers they will build
the road through without delay. OF
be speedily built, by whatever compa.
ny it may be purchased.
The bondholders were greatly pleased
with the action of the Red River and
Mississippi Company in their PROPOSE
ton to surrender to them their charter
and rights. The most important con-
cession made by the bondholtlers was
that of making Shreveport the domf-
clio of the company, from which will
follow other important advantages to
! our city which Mr.. Wise prefers not to
give publicity to at this time.
The following extract from the pro-
ceedings Of the convention explains
itself. If the bondholders purchase,
the contract will be formally made and
the interests of Shreveport fully guar
anteed:
The Hon. VIM. III. Wise, Of Shreve-
port, La, representing the Red River
and Mississippi railroad company, was
| infr1<1tronr1 tn v,nnofSs1op hxy Corn
Henry r. Jackson. He presented res
olutions passed by the directors of said
company expressive Of their sympathy
and desire TO corporate with the bond
holders in event they shall purchase
said w., s. and II. railroad, and pro-
coed to construct the unfinished link
between Monroe and Shreveport.
Mr.. Wise made some pertinent and
cheering remarks expressive of the
good will of the people of North Lou
isiana toward the bondholders.
The following resolutions were Of
fered by Gen. jackson and unanimous
ly adopted by the meeting:
Resolved, That the thanks of this
pressed to Mr.. Wise and, through him,
to the railroad company aud the COM
munity which he represents, for his at
tendance upon this meeting and for the
remarks he has made; that we are
greatly encouraged in prosecuting the
work which is probably before us, by
expressions of interest and sympathy
from quarters so capable of giving us
assistance.
Resolved further, That in the event
OF n purchase of the w., S. & II. road
by this association it is the present
view of the meeting, in the light of
remarks made by Mr.. Wise, that
Shreveport will be the proper domicile
in Louisiana of the new railroad COM
pany. l.. p. GRANT,
HERMAN HOOPER, Chairman.
Secretary.