| 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. |