NP, NOTP 1/4C/1862

From the New Orleans Times Picayune
January 4, 1862
Small Notes of the Railroad Companies
   The provisions of the act of the Mississippi Legislature, authorizing the several railroads in that State to issue and circulate as money "notes of any denomination not greater than three dollars nor less than one dollar," are thus given in the Vicksburg Whig. The different railroads are permitted to issue notes in the following amounts, viz:
The Mississippi Central $150,000
The Mobile & Ohio 100,000
The Mississippi & Tennessee 50,000
The Southern {of Mississippi} Railroad 50,000
The West Feliciana 20,000
The Grand Gulf & Port Gibson Railroad 10,000
   All these roads are required to procure the assent of a majority of the stockholders present at a meeting called for the purpose, to the adoption of the act as part of their respective charters. The notes issued under the act are to be always receivable in payment of freight and passage on each road, and also in payment of any debt due to the road issuing them. Each road is also required to redeem when five dollars of their issue in amount is presented at their different offices. A very important section is the one which provides that each road shall receive the issues of all the other roads in payment of freight and passage.
   The stockholders of the Southern road have held a meeting, and resolved to accept the provisions of the law.
   We should not omit to state that the New Orleans, Jackson & Great Northern Road obtained permission by one of the sections of the act to circulate its notes issued under the authority of the State of Louisiana.