New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-06-05
TO BUY THE L., N. O. AND r.
APLAN OF THE ILLINOIS CENTRAL.
FISIG-S1TLL CONDITIONAL.

IMPORTANT CIRCULAR ueSUED BY sTUYvEsANT
FIsM-sIILL CONDITIONAL.
An important circular has been issued by stuyvessnt
Fish, president OF the Illinois Central Railroad, an
nouncng that arrangements have been made for Il
purchase OF the Louisville New Orleans and Texas
Railroad by the Illinois Central provided the stock
holders Of the lastnamed company approve the propo
sition. The stockholders will meet June is TO
slider the matter Tie advantages Of the purchase and
the terms outlined covered in President Fsh's cir
cular follows
"After years Of patient waiting, opportunity has
at length arisen OF carrying into full effect the pur-
poses for which the Yazoo and Mississippi Valley Ball
road chartered by the State Of Mississippi. and its
construction undertaken In the interest Of the Illinois
central Railroad Company ri 1882 to w.t. the develop
ment Of tho Yazoo delta. The work has been delayed
and thus far prevented owing TO the best part
Of the delta having been occupied by various
railways. which have been consolidated into
the Louisville, Ncw-Orleans and Texas Railway Com
pany.
Through the purchase Of the securities of that
company, the purposes contemplated in the charter
Of the Iazoo and Mississippi, Valley Railroad
Company can now be carried on without the waste OF
capital incident to duplicating existing railways In
an agricultural country.
"The Yazoo Delta is alluvial basin, stretching
from Memphis to Viclsburg 200 miles In
length and 60 In extreme breadth, containing over
100000 acres Of land Of inexhaustible fertility
"The Louisville, New Orleans and Texas Railway
runs from Memphis population 1879 thence
through Baton Rouge. the capital of Louisiana
QO,A79l and to New-Orleans (242 039).
with branches to Natchez QO,1Ol), to Greenville
(665s) and 10 Jackson 1920, and other towns.
Although the main line from Memphis to New
Orleans is by fifty-six miles longer than the route
Of the Illinois and lies far distant from 1t
not TO effect local rates In Mississippi, the
exceptionally low grades of the Louisville, New
orleans and Texas enable 1t to run freight trains
Of so cars over the greater part of its line, and
to give nearly quick a passenger service between
Memphis and New-Orcans that Of the Illinois
Central
The Louisville. New Orleans and Texas Rail
road with its branches, OF which seventy Five miles
are narrow guago comprises 796 miles OF
railway. During the year ended June 80, 1891,
with 100 miles in operation, tho gross earnings
were S3,7l6,4GO being at the rate OF $1,7O4 per
mile The road Is well equipped. The track is
laid with Steel is well tied and partially balaSted.
The Company possesses good freight terminals at
Memphis and at New-Oreans well as shops and
tools for the repair of machinery at Vicksburg
The following extract from the annual report OF
the company for the year ended June 80, 1891, ex-
plains itself
a toleraby correct estimate OF the exceptional
resources and material prosperity of the section
of country traversed by these lines be formed
by the following statement OF tho earnings since
tie road was opened