Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-09-27

Texas railroad bonds It is so mani
testify and practically protective of the
legitimate interests Of bond buyers as
to be Of great value to any new rail-
road corporation acting in good faith
with the Investor in It's securities.
1T gives judicial sanction to and
carries an assurance Of the bona fide
character of the proposed bond issues
which has Of late years been 80 no
torlously lacking as to bring all new
railroad enterprises into Just dlsrepute
and seriously theraten the stoppage or
all construction For the past few
years It has been almost impossible
to secure attention to new bond issuea,
because Of the absurdly fictitious val
ucs which have been palmed off on
credulous investors. The new law car
rlos the assurance to the Investor tina;
his bond represents tho value given
FOR it, and that onc-half or two-thirds
OF his money is not going into the
pockets Of promoters In the shape Of
construction ssompany profits the min
ute the bonds are delivered.
His full Investment under s1rh
law as this must OF necessity so into
the road itself. where 1t must remain
permanent security for mis- money. ]
cannot comprehend how such u wide
spread Misrepresentation Of the scope
of the law and the work Of the rail-
road commission could have arisen in
adyertently. Everywhere IN New York,
Philadelphia and Boston IN financial
circles the moment l haze uttered the
word Texas In connection V''h my
efforts 10 draw capital into ur state,
have met with a storm OF accusation
ana lnVectlve directed principally
against the railroad commission, and
the law under which 1t Ia working.
other gentlemen engaged In similar
attempts 10 interest capital have met
the same reception. Investment houses
here We're undoubtedly sincere in their
beliefs that Texas was in a deliberate
crusade against railroad capital, and
their prudence iiJIbade all capital from
entering such 4 commonwealth. Cap
ital nowadays goes whore Il Is safest,
rather than where II pays the largest
-retlrha,--If- these men had known the
Facts they would have taken the op-
poslte Views for their own benefit for
they are never sentimental about busl-
ness they have simply been deceived
and " Reoms incredible that Il has
been all the result OF an accident 1t
looks more like the carefully devised
plan emanatlng from some Interested
party There Is a potent Influence ram
flying throughout the financial centers
OF the East, which has chOked Oft de-
Nelopment and Improvement in Texas
with one hand, while, with the other
II has reached out far and wide. alb
sorblng right and left, and IL
absorbed loading down IT'S properties
with an amount OF bonded Indebted
ness which Is utterly inconsistent with
reason or with honesty OF purpose.
These are the facts. Now, my fancy
about II IL that this widespread i'm
preston, SO uufavorable to Texas rail.
road Investment, Is due to the care
fully devised plans for repressing val
ues In the interest OF the concern al
has gone far enough, and that
then we shall see the bun
movement emanating from the
same source, preparatory to selling out.
In other words, It is stock jobbing
operation on nm extended scale, But /
do think that an men who have n
permanent interest in Texas as YOU
and ought to labor to set the railroad
commission and their new law right
In public estimation here ana In Inc
North. You know I have already done
a little In that direction and / will do
more II can get the proper materials.
Can you furnish me with them?
Certain phases Of politics suggests
certain saws and aNloms that at some
time or other were evolved from tbe
brain of great minds. For Instance.
1T Is an il-wlnd that blows no man
good Every dog has his day" and
.Othelio's occupation Is mob gone"
These hnckneyed sayings are suggest
ed by the frightened looks and pol.
ished garments OF some OF the ola
political buns about Austin. whose oc-
cupatlon IL gone. except when election
times come around and the princelv
hperailly OF the candidates shows IL
self. This change In appenrance r.
fers more particularly to those nolI,,cei
tnrncoats who are one day In the re-
publican and the next in ponuIist |
ranks There are n number OF thoss |
Fellows who last year were Ropnblicans
and this year their patriotic apprehen.
son OF the dangers OF the blight ~ |
Deinocacy' causes them to fly into tho |
arms OF the Populists A strange cnl
Incidence Is clearly noticeable. which e. |
thts; With the flop a new suIt 80 |
elutheA SHOWS UP on the street AMI |
new sole-leuther hits the pavcmart
with stately sound Such fellows Nav
,helr cay like the dog that has his |
turn In the mutation OF nnii,in,
events, and the inevitable dissntlrteai
tion with which the Democrats na,,,-
~ the Unwind that BODIES good 10 thoss
ehaneieons who proht by this captlons
Governor Hogg has issued n nroc,s
nation for an election for state senStor
in me sena'ohrlal district composed y,
the counties OF Collin ana itnrt Or
MI the. vacancy caused by tbe -, 70
nation Of Hon C. II, Yonhnm 'N''s-
~ r KY We're granted today to Tho
s 1ssas s'N,.lng vMSehine company OF the
Of 100000, and tho Hopkins-vs.ig,gass
yfug company. with capital sloc,-
OF sl'b'Noo TO transact business In me
Governor Hogg today apno,n,aa ~,
,,,. i,,nrnile Jr OF New York. CON-
\, a H. ,,,., ioT the state Of Texas n
s nm ss0sh,n,9~iedglnents OF deeds. depo.
ing executed In New York - writ
= eersined copy o. the articles o, n,
~ $500, pos. Ion q the Superb Barbed wiz