NP, MA 4/16/1861

From the Memphis Avalanche
 
April 16, 1861
 
Southern Pacific Railroad Company
   We call the stockholders of this company to the advertisement of R. V. Richardson, agent to be found in another column. The whole thing is simply this: Owing to the troubled condition of the country, this company proposes to sell to its present stockholders five hundred thousand dollars worth of its undisposed of capital, at five dollars the share. This fund enables the company to pay its indebtedness, which is not large, and complete and equip 75 miles of road, clear of all liabilities. The debts, though small, not exceeding $120,000, still, a portion of them, are of such a character that they must be paid, or the process of the law will collect them, and the property of the company be sacrificed. The plan of relief, is easy. It makes each shareholder contribute to the relief. This is right and just. What use is a stockholder to any enterprise, unless he will contribute his just proportion in meeting emergencies, as they arrive, in the history of all great undertakings. All such men start well, but break down and balk at the first trouble. All such persons are curses in all companies, and ought to be cut off from them as soon as practicable, if a company wishes to be efficient or successful. The shareholders of this gigantic undertaking ought not to hesitate one day in taking up this stock. They ought to go forward this week, and do what they intend to do, for if they wait to relieve it, there are eager capitalists watching and ready to take up the amount, and relieve the company, but only for the benefit of themselves and all stockholders who new subscribe.

Home