Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1922-03-26

" Is IN ilne with statements Whicn nave
been made by a few OF our prominent
business men,"
After which lie proceeded 70 reveal
for the first time some interesting in
formation in connection with mis- finan-
cial investment in the Rio Grande rail
way, making public for the first time
the fact that he had personally advanced
to the Rio Grande Railway Company the
sum OF S33 3,09i.45, as shown BY the comp
any's books, for Sd 400 Of which he ac-
cepted the company's second mortgage
bonds, making him the biggest individual
purchaser Of the bonds OF the railroad
company. He accepted them at par, and
none Of the sixty per cent Of the cap
ital stock assigned by him to the people
of the Valley went with the dcs |, il was
explained.
Pointing out to The Hcrald's repre-
sentative the figures in the company's
books which went TO make up the S33,09l, Y,
and which recently were audited by the
auditor of the Texas Railroad Commits
sion, Mr.. O'Brien made the following
statement in explanation Of the first
sentence given above:
~As you see ! have before me some
records from which | have been summar-
izing lot Of little things that | have
been trying 10 do for the people Of
Brownsville and the BIO Grande Valley
and if there is any one in the whole
Valley who would be justified in quit
ting az this critical time in our history !
believe | am that man. As you see here,
up 10 December 3lst. 1920. | had adj
vanccd the Rio Grandc Railway Company
the sum Of $33, ,09li5, which was used
10 pay interest, taxes and deficits from
operation.
As part payment Of these cash ad-
vances | accepted second mortgage bonds
IN the sum Of $2i.i 400 which in turn were
accepted from me by the trustees Of the
Browne Properties in part payment OF a
note which had previously executed in
favor OF A. Albert Browne and James A..
Browne. Meme Of the sixty per cent Of
the capital stock assigned by me 10 the
people Of the Valley was apportioned
Ia my bond purchase. In addition to
this | subscribed and paid $1,000 to the
channel fund and in my settlement for
the purchase Of the Rio Grandc Railway
stock | assumed the payment Of a chan
mel fund subscription amounting TO
$500.
Il believe | can lay claim to having
done something toward securing the re-
commcndation Of the Army Engineers
for the harbor Improvement and the
government appropriation. which IL now
available, and il is well known that it
was upon my invitation that delegates
from all over the Valley assembled at
Point Isabel and brought the Point Isa-
tel Channel Association into existence.
| might mention in this connection tha,
have devoted ten of the very best years
of my life to the restoration Of rail and
water transportation. And | am going
To continue on and on knowing that God
u helping me until what has been under
taken shall have been accomplished.
Ten years ago I! could not forsee the
time when / would have 70 30 out among
people a. a common beggar. but If this
bc necessary To save the Valley. then
am willing TO assume the role. If a
battle must be fought between special
interests and the common good, | am for
the common good. III il is 20 be a strug-
gle between money on the one hand and
manhood on the other. l will bc on the
side of manhood. II il Is 70 be a fight
to the finish between re-actionaries and
progrcSsives. ] will be with the pro-
grcssives. And above ALL am and will
b, against the agencies Of corporate
good and avaricc ard personal selfish
ness which would cnslave, impoversh
and despoil our people.
The s. o. 5. campaign was suggested
because Of the apathy and indifference
OF those who should have undertaken
the task or providing funds for com
plction Of our railway and harb0r. II
was with a great deal Of hesitancy that
accepted the additional responsibility
which this campaign involves and il was
my abiding faith and confidence in the
intelligence and patriotism Of the great
majority of our citizens that impelled
me TO launch this final effort TO save
the great mass of our people from pow
crty and ruin.
We must conserve what has been
done: we must and will Save Our Sea
port. And as a suggestion TO those who
are disposed 10 quit I quote the follow
ing lines, which were written by Sir
Walter Scott:
lie either fears his fate too much.
Or his deserts are small,
Who dares not put il TO the touch
To gain or lose il all