NP, STD 4/20/1861

From the The Standard {Clarksville, Tex.}
 
April 20, 1861
 
The Southern Pacific Railroad
   A meeting of the stockholders of this company met in New Orleans, at Armory Hall, on the evening of the 26th ult. Col. V. H. Richards addressed the meeting at great length and urged upon the stockholder to take stock to the amount of one dollar a share. He plainly told them that the company would be sold out if this was not dome promptly; but promised to protect the interests of all who would come forward and subscribe for additional stock. He informed the company that eighteen miles were already graded beyond Marshall, and only seven more were to be completed, to entitle the company to a loan from the State of Texas of $50,000.
   The Southern Pacific Railroad is to all intents and purposes an extension of the Vicksburg, Shreveport & Texas Railroad. A connection will be made as soon as we reach the line, and the work will progress more rapidly. This road is a necessity, and must be built in a few years beyond the Trinity River. If the present company are unable to do it, let it sell out to responsible parties who have sufficient capital to complete the work.
   It is too often the case that reckless speculators, who are bankrupt in purse and reputation, get control of a company, squander the means and enrich themselves. We believe that the Southern Pacific Railroad Company have suffered a great loss in former years from these men of straw -- millionaires upon paper. They are bags of wind, or to speak more respectfully, inflated balloons, which generate their own gas, and expend it in voluminous reports, in high sounding speeches, or in sensation telegraphic dispatches.
   We do not wish to reflect upon the present President, who maintains a good reputation for ability, energy and practical good sense. We most heartily endorse that portion of the speech which referred to the payment of old debts, and cheerfully give a receipt for the small amount due this office.
Caddo Gazette

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