The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1885-06-19
az Must be sold, ana Csi. Paramor.
Cannot PFeyeuttf

Messrs Eaton Il Guinan, of this
city, have received the following dis
patch from Tyler, da ed June II:
Judge Pardee has decided that the
Texas K 81. Louis railroad must be
sold. Hon. W. $. uerndon says Col.
Paramore cannot appeal"
The st. Louis Globe-Democrat, of
Sunday, June IA, contains the follow
ing:
"'rhere IL considerable interest felt
In the settlement of the controversy
that has arisen between the western
bondholders of the Texas Il st. Louis
railroad and their friends. Ii does
not only involve the welfare of the
road and those Immediately interest
d, such as bondholders, but the byaid-
holders of the $4,000 receiver'scer-
tiiicates now outstanding. Thess GER
tiiicates are after taxes as alien on
the road, having priority, over all
claims and bonds. When issued
they were to be uhid IL
months, and bear interest. bdt shouid
an appeal be taken 10 thesupreule
court ON the probabie refusal ofJudge
Treat to allow tl,s answer OF the COR
poration TO bottled, at least seven
Years must eiapse before the certif-
Gates can i,e taken up, at least so the
attorneys say. If the answer is filed
il Is estimated, allowing the maxi
NUNS time under the rules, two years
will elapse before the determination
of the cause in court. So far efforts
made to float certificates have not
been at all successful, us not nearly
the sum was secured That was needed
to properly repair the line, A con-
tinuation of the litigation would
make other issues necessary, and rem
der the work OF any persons attempt
ing to push reorganization scheme
less likely to succeed. Col. Fordyce,
the receiver, said yesterday, 1--WE
need 100000 right now TO expend on
the road in Missouri and Arkansas, to
put it proper shape for our fall bust
ness, which is the largest OF the year.
This money would be used TO put in
new rails and repair the track in the
Red and White river bottoms, and
that old road between New Madrid
and Maiden. There are nine miles OF
bad road there that should be re-
paired"
"Is il unsafe?'
"No; because the engineers know
the character of the road and run
over 1t slowly and carefully. II is
that excessive slowness we want to
avoid. If the road was repaired
along there we could make very much
better time and do more business"
"Wonld any portion of the sum be
needed for equipment"
mot cent; our equipment Is ex-
| cellent, and If we only had rs good a
road, would do all the business the
| country could supply. The sum
mentioned would be expended on the
road in Missouri aud Arkansas alone,
while as much AZ $4,000 would be
needed In Texas. And there Is no
probability of its being obtained I'M
I'll some reorganization plan Is put In
operation. | can not say now how
that will DO done. there are so many
plans talked OF. You see it would
take great deal of money, anc that
can not be easily raised. Building
the road in 10 st. Louis from Maiden
would cost in the neighborhood of
S5.00O,OOO The distance is 100 miles
and the cost would be fully
$50, 900 per mile. Some talk of reach
ing the city by crossing the Missis-
sippi at Grand Tower, aud coming up
ON the Illinois side, having the term
inal In East ST. Louis. Then all that
would be necessary would be an
agreement with the Bridge and Tun-
mel company TO reach the union depot.
While 1t would be undoubtedly very
costly aud very difficult TO buy term
inal facilities in the city, we do not
know yet whether the plan of brldg-
Ing the Mississippi would cost less
than the purchase of n right Of way
directly into the city, or, in fact, def-
nitely what either plan would cost.
Any scheme, OF course, would include
the widening of the road throughout
It's length 20 a standard gauge; IL
would be folly to undertake rs extern
sion otherwise. But II we are TO do
business on this road, something must
be done and done quickly