The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-05-17

ganlted in 1861 with Leland Stanford as presi.
den G. z, Huntington as yice-president and
MI, Il. Hopkins as secretary and treasurer In
April 1869 10 miles of this road was built In one
day, which Is probably the greatest feat of rail
road building on record, with only eight men 10
handle all the iron. These eight giants walked
10 miles that day, and cuifed and handled Zoo
tons of rail bars each.
On the consolidation under one mana remeut
Of the Texas 4 New Orleans and the Louisiana
Western railways with the Galveston. Harris.
burg 4 san Antonio road, Mr.. T. W. Pierce. IT,.
accepted he position of general passenger and
ticket agent, and Captain c, Gibbs the position
Of general freight agent of the whole line The
selection Of these gentlemen for these important
positions is evidence OF the confidence reposed
In them by the management and is a compl.
ment Justly bestowed
The annual report oC the Little Rock 4 Fort
Smith rail os Il shows the gross earnings of the
compauys los miles of road tn have been S56a
657,S0, and the net earnings Sa6074524 The
operating expenses were $500 per cent of the
receipts The passenger earnings increased SIR :.
600 and the freight earnings Sll, $50. The bal.
ance 10 the credit of the income account is s}SI
sos 40. The bonded debt is s. 5SS GIG and the
capital stock issued 81, 505,SOS The land sales
amounted to a, 7S5 acres at an nyern 90 prire of
81 80 and in lots averaging 54't acres The total
sales to date are 80 49, acres leaving 734 $50
acres unsold President Converse attributes the
small increase in earnings To the drought the
increase in operating expenses to purchase of
indicat ons favor large increase in the volume
Of business during the current year
The Southern Pacific road has been completed
to point Just midway between this city and
san Antonio, distance of 3iS mileg At this
point will be established terminal station and
at an early day, perhaps Monday, the road to
this station will be turned over to the comrany
The road has been finished up about fifteen
miles beyond this station but at present tn S
portion of II will not be turned over Work ne
yond this is progressing finely, and in the tun.
nels force is employed day and night The
distance from FL Paso TO San Antonio Is G36
miles. and the road will be completed by the
middle If not the first of August Things will
take quite change for the better, when this
road is opened up.
The house judiciary comm ittee has had be-
fore 1t nearly all winter the subject OF lapsed
railroad grants The Texas Pacific and the
Nor hern Pacific railroads have been the ones in
which spectators have becp most interested
The concessions given the railroads involve
enormous tracts of land, and If they were to be
taken away from the corporations now on ac.
count of their not having fulfilled their con
tracts. the result would be disastrous to the
stockholders. The subcommittee having this
in charge has decided upon general
report upon The subject This report will
probably satisfy the stockholders OF the
Pacific roads. The full committc win prob.
ably adopt the report of the sub-commitee The
report states, in eject that these grants arc
lapsed, but that the enforcement of tue penalty
Hes with the courts, and not congress Ii sur.
gcsts, also, that few smaller roads in the south,
whose companies have virtually gone out of OK.
istenco, shall be proceeded against, and the lands
{ these practically defunct corporations be again
thrown open TO the public. The effect of the
recommendations of the committee will be to re.
licVe the roads which exhibit any ability or will
ingness g. complete the work. permitting them
to retain their grants. The cases If they are re.
nandcd to the courts, will involve so much de-
lay that the roads will have ample time to get
through with their work and probably defeat
any contem dated reyersion Of the lands TO the
United States