The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1885-08-15
TITLES TO RAILROAD LANDS.
BAYou FLAeos, Grant Parish, La

August 8, 1885.
Editor Collar Chronicle:
As the railroad company is now of
fering it's lands in this parish to actua
settlers, in accordance with the Robert
SON Blanchard compromise, desir.
You to explain one little matter in tn,
interest and for the protection of oul
citizens, namely: As the Texas Pacific
railroad company gave mortgage on
this same land some two years since
1.-THE same at this time being q mat.
ter of record according to your state
ment in the CHRONICLE), should moi
fthe railroad company raise said mort.
gage, or should our people be forced tC
pay their money for these lands and
then may be loose the landi l look
upon this as a very grave matter, and
feeling that the lot of the settler is
hard at best, hold that the settler
should have some other security than
mere promise of the railroad CON-
pany to defend these lands against said
mortgage. Our people have not the
utmost confidence in this railroad com
pany, and would like to have the press
open up on this grave question.
Respectfully, SHOCKS.
On page 472 of book I'D" of record
of mortgages of this parish is an in
strument mortgaging the lands Of
the N. 0. Pacific railway company to
John F. Dillon and Henry III. Alex
ander, who are styled trustees. The
mortgage is for q series of $1,000
bonds, payable in 1911 and limited
to an issue Of 81 so per acre on the
number of acres of land which shall
be patented or certified to the rail-
road company. One of the stipula-
tions is that said bonds are not to
become a valid obligation npon the
railroad company until the certificate
endorsed thereon shall be signed by
said trustees Dillon and Alexander)
to whom the bonds are secured by
mortgage.
Another stipulation is that no
bonds are to be issued until the
lands in the land grant are patented,
but as fast as lands are patented
bonds may be issued at said rate of
81 80 PER acre.
Another stipulation is that all
lands Except the lands needed by
the company for houses, depots,
tracks. etc., shall be subject to sale
at such price as may be placed upon
it by two disinterestsd appraisers. to
be appointed by the company and by
the trustees. In case these two can
not agree they are to select third
The lands so appraised
to remain at all times open for sale
to any purchaser at said price, unless
the valuation be changed by said
in the manner prescribed,
to what they think is fair selling
value, but each apprsisement is to
stand at least one year.
1t is also stipulated that the par
ties to this instrument may authorize
q sale, at reduced price. to persons
intending to purchase for actual set
Element Under this last stipulation,
which we consider most fortunate,
the company can agree with said
trustees to sell to settlers, and put
said agreement on record. And az
our correspondent well remarks, the
settlers should have some other Sc
curity than q mere promise of the
:ompany to defend them against this
If this is done it will
aIlay an uneasy feeling among the
:. ttlers, and nothing short of this
will quiet their apprehensions.
In the early part of this week we
wrote to Col. Wheelock, president of
the company, in relation to this sub
i CT, and just as we go to press have
received the following letter from
him, which should set at rest all
luibbles about validity of the titles
which will be given by the company:
LAND Dept N. o. Pacific Railway Co.,
New Orleans, August IL, 1885. !
4. G Goodwin. ESQ.,, Colfsx. La.
Dear Sir-Your favor of 10th inst.
received. Messrs. Dillon g. Alexander,
under the land grant and sink
ng fund mortgages of this company,
will join the company in giving titles
20 lands sold under the Robertson
Blanchard agreement, by making q
luit-claim and cancelling the mortgage
20 the extent of such sale of land.
Yours truly, w. b. WHEELoCK,