| From the Memphis Appeal |
| |
| January 3, 1861 |
| |
| Little Rock Railroad |
| This railroad is of great
importance to Memphis; we therefore condense the statements contained
in a communication from M. Lynch, chief engineer of the company, which
was published in the Little Rock, Arkansas, Democrat of the
22nd ult., as to which conclusive comments: "In the spring of '57
the Memphis & Little Rock Railroad Company commenced the second,
and I fear last effort, to complete their work." The Memphis
& Little Rock Railroad Company has received only $40,000 from the
State of Arkansas; has at this time 40 miles of road finished and
equipped; 40 miles of road graded, and 60,000 cross ties delivered
thereon and all paid for; the St. Francis river bridge has all the
masonry completed and the material on hand for the superstructure,
also 8000 tons of iron, sufficient to complete the road, has been
purchased at extremely low rates, and several vessel loads already
delivered and on bond at New Orleans. Three locomotives and
twenty-five freight cars have been ordered and, are now about ready to
ship up white river, (one of the locomotives now on the river and 40
miles from this place) and last, but not least in importance, there
are now not less than 700 men hard at work on the road, and what is
the prospect of their continuance? It is impossible for me to describe
my feelings today when told by the president with manifest earnestness
that "we must stop." Our noble piers of St. Francis
bridge, which have cost more than the State subscription, to be left
standing as grand monuments of a most splendid failure, and the
material for completing the design on which I have so labored, and
anticipated so much pleasure in hearing the expression of admiration
by others, to be left on the bank to rot, and be the subject of
ridicule by all passers by, who may not know that this has been caused
by Arkansas legislation. Sixty thousand cross ties left to rot;
$400,000, of iron to be handed over to save from ruin individual
securities, liberal, generous men of another State, who in their
magnanimity and foresight, believed that if the work could be
completed, they would be remunerated; and the day that consummates
this last mentioned thing, will be the death day of the Memphis &
Little Rock railroad. Again that portion of the road now in operation
through an interminable swamp and terminating in a sparsely populated
country, can not sustain itself, and must come to nothing unless
extended. Why all this? The condition of things are these: The company
had built the first (by far the most difficult) division of the line
and paid for it; they had by this saved the land grant and had just
issued $1,300,000 of bonds, mortgaging the whole road and lands to
secure their payment; partial arrangements had been made for the sale
of a large amount of these bonds and would have been effected had not
this present state of affairs come on just at the time they were
offered; and now that nothing can be realized on the bonds, in justice
to the securities the president will be compelled to hand over to
these gentlemen the iron as it may be received; however, if we can
show our ability to carry on the work until the present crisis is
over, the iron can be retained and enable us in a few months to give
to the capital of the State a connection with White river; and a
better military defense than the most able generals of the State can
devise. Unless this present purchase of iron can be retained, (I am
confident that a like arrangement can never again be effected) I
cannot see how the State of Arkansas, with her limited revenue and
credit, can ever finish the road. The duty on this (about $700) has to
be paid in specie before it can be laid down, and specie cannot bel??d
of the banks at this time; a small appropriation, a?ock, subscription,
or loan of the money now in the State treasury as an internal
improvement fund, would enable the company to complete the work at an
infinitely less cost than it can ever be possible at a future day. The
legislature meets every two years; and unless something be done by
them at this time, the Memphis & Little Rock railroad is done.
This is not simply my opinion. I have given my reasons, and if I am
wrong, will be happy to know it." |
|