National Republican. (Washington City (D.C.)) 1872-1888, 1884-02-07
PACIFIC RAILROADS.
The Mortgages Executed by These Great Grab
bing Corporations
Their Obligations 60 tho Government
and Other Creditors.

Secretary Teller has sent to the senate in
response to resolution offered ON Dec Is
last by Senator Van Wyok, calling for copies
of all the mortgages executed by the Texas
Pacific Railroad company ON lands granted
by the act of March 3, 1871, and for list Of
the names Of railroad corporations now claim
ing lands that were not earned during the
lifetime Of the grants to them, with the num-
Der of acres claimed by each OF said railroad
corporations. copies of all the mortgages ex-
ccuted by tho Texas Pacific company on file
in the interior department, and a communt-
cation from the commissioner of the general
land Office conveying the other information
asked for by tho resolution. The mortgages
are seven In number, as follows:
First mortgage, dated June l, 1872, to j.
Edgar Thomson and Samuel NJ. Fenton, of
Philadelphia, trustees, covering the issue of
per cent. bonds for the construction and
equipment of tho railroad from the state line
between Texas and Louisiana, westward to
San Diego, from Tcxarkana to point OF
junction with the aforesaid limo at or near
Fort Worth, and from Marshall, Texas, to q
point of junction near Texarkana to an
amount not to exceed $4,000 per mile, So
cured by deed of trust on tho lands lying
along the portion of road to be constructed
on tho equipments and stock.
Mortgage of July J., 1872, to Edwards
Pierrepont, of Now York, and w. Il. Wall
ters, of Baltimore, trustees, to cover q
loan of $20O00,000. secured by deed OF
trust on tho lands granted to the Southern
Pacific and Southern Transcontinental Rail:
road companies by tho state of Texas and on
the lands acquired by the Texas Pacific COM
pany by virtue Of its consolidation with or
purchase of any other railroad company in
the state of Texas, by deposit with the
-, &c cd Ii nop finn
grant mortgage, dated May 10, 1873, and
supplemental mortgage of March 49, 1876. to
w. T. Walters and Geo. ID. Krumbhaar, trus-
tees, to secure an issue of $S,9Oo,00O of per
cent currency bonds for tho completion and
equipment of the road east of Fort Worth |;
this mortgage on lands acquired or to DO ac-
auired by tho Texas Pacific company in con-
structing its road east of Fort Worth, esti-
mated 100000 acres, and on the net income
of the company's lines east of Fort Worth,
after dcducting expenses and the payment
of interest on tho first and second mortgage
bonds.
First mortgage of Nay 10, 1875. to Matthew
Baird and Samuel NJ. FELTON,, trustees, secured
by sinking fund and first mortgage gold
bonds bearing interest ut 6 per cent, limited
to s., 900 per mile, upon the company's lands
east of Fort Worth, with tho equipment and
franchise.
Consolidated mortgage Of June 1, 1875, to
Matthew Baird and Samuel III. FELTON,, trus.
tees, secured by sinking fund and second
mortgage gold bonds bearing per cent. In
terest and limited to $4,000 per mile upon
the compauys lines of railway east Of Fort
Worth, with its equipments and franchise.
Mortgage to the Fidelity Insurance, Trust,
and Safe Deposit company Of philadelphia,
secured by sinking fund and first mortgage
bonds, not exceeding $4,000 per mile, on the
company's line cast Of Fort Worth, and upon
l. tt. H. traIf r0ra hn
state of Texas by the construction of the line
westward from Fort Worth.
In transmitting the copies of these mort
cages. the secretary points out that only one
of them, that bearing date of June i. 1872, is
on the land granted by the act of 1871, and
that this was satisfied on Dec o. 1879.
The statement submitted by the commits
sioner of the general land office showing the
condition of the railroads, to aid in the con-
struction of which lands have been granted,
sets forth tho following as the status OF the
more important roads:
Northern Pacific: Time fixed for completion,
July A, 1879; length Of proposed road, $780,
80 miles; completed within specified time,
530.5 miles; since completed, l,340SS miles;
now uncompleted, 491 miles; estimated num-
Der of acres granted, 46,947,200; number of
| acres patented up to June 80, 1888, FAC, 800. %
Atlantic and Pacific: Time fixed for COM
pletion, July A. 1873; length of proposed line,
2,420 miles; completed within specified time,
125 miles; completed since, 600 miles, uncom-
pleted, 1,70l miles; acres granted, 4O,69O,56O
acres patented to June 80, 1888, 959,206.S7.
Southern Pacific: Length of proposed road,
$50 miles time fixed for completion, July A.
| 1875 completed within specified time, 232
miles; completed since. 2i0 miles; uncom-
pleted, 81 miles; acres granted, 7,116,S00;
acres patented to June 80, 1883, 1,040, 430. o.
Texas Pacific: Length of proposed road,
1,4S3 miles, time fixed for completion of road,
May 2, 1882; completed within specified
time, 705 miles; now uncompleted, 77S miles;
acres granted, 1862 900; mono patented to
June 80, 1888.
o.. -Inll