| From the Memphis Avalanche |
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| April 16, 1861 |
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| Southern Pacific Railroad Company |
| We call the stockholders of
this company to the advertisement of R. V. Richardson, agent to be
found in another column. The whole thing is simply this: Owing to the
troubled condition of the country, this company proposes to sell to
its present stockholders five hundred thousand dollars worth of its
undisposed of capital, at five dollars the share. This fund enables
the company to pay its indebtedness, which is not large, and complete
and equip 75 miles of road, clear of all liabilities. The debts,
though small, not exceeding $120,000, still, a portion of them, are of
such a character that they must be paid, or the process of the law
will collect them, and the property of the company be sacrificed. The
plan of relief, is easy. It makes each shareholder contribute to the
relief. This is right and just. What use is a stockholder to any
enterprise, unless he will contribute his just proportion in meeting
emergencies, as they arrive, in the history of all great undertakings.
All such men start well, but break down and balk at the first trouble.
All such persons are curses in all companies, and ought to be cut off
from them as soon as practicable, if a company wishes to be efficient
or successful. The shareholders of this gigantic undertaking ought not
to hesitate one day in taking up this stock. They ought to go forward
this week, and do what they intend to do, for if they wait to relieve
it, there are eager capitalists watching and ready to take up the
amount, and relieve the company, but only for the benefit of
themselves and all stockholders who new subscribe. |
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