Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1889-07-21
The Status Of the Fort Worth and
Albuquerque Railroad.
Mr. Il. C. Hurley Who Has an Option on
= the Road has Not Abandoned Hope,
but is Still at Work.
What Mr.. Pendleton Has to Say About Building
the Read-A Good Suggestion on Fac
tories-on to Jacksboro.

buquerque railroad is one of vital inter
est to the people of Fort Worth, and has
lately been generally discussed. Learn
ing some time ago that the directors of
the road had gwen MIR. NJ. C. Hurley
sixty-day option on the franchise and
property of the corporation, THE
GAZETTE has refrained from saying
anything about the road until Mr..
Hurley returned to the city and was
given an opportunity to speak on the
subject. Mr. Hurley returned yesterday
and what he has to say is given below.
Mr.. w. S.'Pendleton was also seen,
and having been intimately acquainted
with the plans of the company, was sub
jected to an interview. THE GAZETTE
reporter asked:
Mr.. Pendleton, you were the 3ttorney
for the Fort Worth and Albuquerque
railway company, and stakeholder,
were you not?
1 was.
THE GAZETTE would like for you to give
the public statement Of the present
condition of said company and whether
in your opinion it will build the road.
/ do not believe the company can be
depended upon to build the road, at least
at any time soon. But l do not feel at
liberty to state in detail my reasons for
so believing, nor to make any particular
statement of the cOmpany's condition.
1t seems to me all the people desire to
know is whether it Is worth while to wait
longer on the old company. ~
Do you not think the construction of
that read very important to Fort Worth?
LIDO, indeed. If built as a strictly
Fort Worth enterprise, to be owned and
operated by Fort Worth people, it w@ii1d
be worth more to US than anything else to
which we can turn our attention. It
could be made the key to all our future
prosperity. The fuel question is first i'm
portance . If we could guarantee cheap
fuel, we need not invite factories here.
We could not keep theTnaway. The fuel
question at present is underthe control of
railroads ;,that have proven Themselves
unfavoraB fN to the development of Texas
If we had a railroad to the northwestern
coal. fields, owned by Fort Worth people
not a few, but as many of them as pos
sible-interested in the development of
the city, we would be Independent of
railroad caprice, corruption, favoritisms
or malignity. Only in this way can we
base the prosperity of our city on sure
foundation. Otherwise we shall always
be dependent on those who have no in
terest in common with us.
What plan of organization would. you
suggest in order to secure the road?
Five hundred citizens if possible
should take stock in the company-men
pledged to the best interests of the city.
Two hundred and fifty thousand dollars
in cash should be subscribed and paid.
This would build twenty-five miles of
road Then instead OF bonding the road
at $40 600 per mile, and selling the bonds
for So 900 to ST. ZOO to make a profit
above the actual cost of construction of
$1,000 to $1,000 per mile, leaving the road
to the inevitable fate of roads built that
way-a receivership, the road should be
encountered for It's actual cost, not 81
more. Such a road, built to the coal
fields, would, with reasonably good man
agement, pay interest on its bonds and
small dividend on the stock enabling the
stockholders to retain control for all
time.
Do you think bonds could be placed on
the plan you suggest?-
haven It the slightest doubtof it. With
twenty five miles of road built and paid
for to start with as security, passing
through such a country, [ believe the
bonds could be readily sold at par. 1
would like to see the experiment
tried. The money. could, be raised
in this city, if we would go right
at it in good earnest and such a road
would be worth more to this city than all
the trunk roads together that we have
now, for which we have paid so dearly,
and which have done us so little good
controlled, as they are in the main, by
set of adventures who manipulate them
for the sole object of building up private
fortunes.
Mr.. Hurley was found at his office and
spoke freely.
''You are probably aware, Mr.. Hur-
ley, that the Fort Worth and Albuquerqe
is now being generally discussed, will
you not give me the full facts about the
rOad?''
81 will do so fully. The Albuquerque
railway should be built and it is not
creditable to Fort Worth that it Is not
now well under way. When l first con-
sidered the matter my attention was
called to it by some of the leading citi-
zens of Dallas inviting us to figure with
them as contractors to build from Dallas
to the Northwest over the line of the
Dallas and Archer We made them
proposition to organize company COM
posed of Fort Worth and Dallas citizens
to build road from Dallas to and
through Fort Worth. To start work at
Dallas and build to Fort Worth and
at the same time to start work
at Fort Worth and build to the
coal fields. The Dallas people agreed to
this proposition, but when we tried to
work 1t up in Fort Worth we were ae-
seused OF being i'll league with the Dallas
people. If my suggestions had been act
ed upon at that time Fort Worth would
to-day be reapinG benefits from her SUI
perior advantages by Increased railway
facilities, and also have q railroad to the
coal fields. After I was convinced that
the Dallas people were going TO build and
leave Fort Worth out we quietly began
working the matter up again, and num-
Der of Fort Worth citizens got oTt
charter for the purpose of building
the Fort " orth and Albuquerque railway
We started out IN good faith and with
high hopes and ordered our engineers 10 !
take the field. We have maps and pros
files complete, and we hazard no risk in
saving that we have the best line thats
can he had The grade is q COMPENSATED