| Vicksburg and Shreveport Railroad {Vicksburg,
Shreveport & Texas RR} |
| This important road, which
seeks to connect the waters of the Mississippi with the northern
portion of Texas, is now in course of vigorous prosecution. In the
last year it has advanced to Monroe, which gives seventy-nine miles of
finished road, and fifteen miles nearly graded and ready for
superstructure, with all the iron received for equipment. Six engines
and a sufficiency of cars are provided. This gives the company the
absolute right to sell nearly one half of the three hundred and fifty
thousand acres of land granted by Congress to aid in building the
road. These lands reach nearly across the State, from east to west,
and lie along the line of the road on either side of it, in the centre
of the cotton zone, and a large portion of them are among the most
productive lands in the world. About five thousand acres of these
lands have been sold at prices ranging from $2.50 to $20 per acre. |
| The debt of the company is
$200,520. It has expended $1,406,936, and disposed of $280,000 of its
first mortgage bonds. |
| The general prosperity of the
country has had its influence here as elsewhere, as is shown by the
advance in the price of certain species of property, which is only
slightly and indirectly influenced by railroads. In two of the
parishes the extension of the levees on the Mississippi river has had
a decided influence in increasing the value of property. In other
parishes the road is the only new element of universal prosperity, and
after making a liberal allowance for the operation of other causes, we
must set down at least $15,000,000 of this increase to the influence
of the railroad. Upon this amount of taxable property, the state
derives an annual revenue of $45,000, which is equal to 16 per cent.
interest upon the amount of bonds the State has issued to the company.
The parishes receive a corresponding advantage in the shape of parish
taxes upon the property developed within their limits. The parishes of
Madison and Carroll have already received into their treasuries, in
levee and other parish taxes, assessed upon property developed and
brought into these parishes by the road, more than the amount
contributed by them toward building it. This is well illustrated in
the case of the city of Vicksburg, which subscribed $100,000, and
within twelve months from the passage of the ordinance making the
subscription, and before the second installment of $20,000 was paid,
the road in the meantime having reached the western boundary of
Madison parish, and brought in the rich trade from the Roundaway,
Tensas, and Joe's Bayou, the assessed value of the property in that
city increased $612,000. In addition to the wealth it has brought into
the State, a large number of worthy citizens have been made rich by
the in crease in the value of their lands, and owe their fortunes to
this road. The treasury of the State has been enriched by the sale of
swamp lands, and internal improvement lands brought into market by it.
It has stimulated emigration to the State, and the parishes along its
line are increasing in population in a manner unprecedented in the
history of Louisiana. The unparalleled productiveness of the cotton
lands along the line of this road, the known facilities it will
afford for transportation and travel, are attracting attention, and
inviting capitalists from other States. There are other beneficial
effects resulting, and to result from the construction of this road,
which should not be overlooked. It is beginning already to bind
together in community of interest, sections of the State which have
heretofore had little sympathy with each other. The levees built
on the Mississippi, to reclaim the swamp lands, being necessary also
to protect the railroad, will cause the upland parishes to feel
interested to aid in keeping up the levees to the full extent that
they appreciate the privileges and advantages of their railroad. |
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