ALS, four pages on two lightly-lined sheets, 6 x 9.5, June 25, 1889. Letter to Colonel W. M. Owen. In part: “My attention has just been called to the transfer of Franchise of the original New Orleans and North Eastern Railway to the company that afterwards built the road. The Franchise I am told was worth half a million of dollars and as I understand was never regularly transferred to the new company. I have been under the impression that the transfer was duly made, but am now informed that it was not, that the last president of the road…has died, and that the Board of Directors was not duly reorganized with a new president, up to the time of the new company taking possession of the road and going to work to build.
We spent much time and money in getting the Franchise which gave us extension privileges in the city of New Orleans and elsewhere. The matter may be worth looking up, and if you can find the facts in the case such as I understand them now, we can afford to employ lawyers to settle it upon amicable or through the courts.
My impression is that I agreed with the new company some years ago as to my interest in the original stock and bonds under the impression that the Franchise had been duly transferred but the information that reaches me now, is the effect as already stated and the new company took and used our valuable Franchise without due compensation or authority. They gave me a thousand dollars in their new stock as I understand in not of any value in any way. In other words they have put a fraud upon me and got not only my bonds and stocks but this valuable Franchise, which could not have been had otherwise at half a million of dollars. Please give the matter a little of your spare time and see what may become of it.” Longstreet also adds a brief postscript, “I believe that I was the first Presdt. of the Company and continued to be for some two or three years.” In very good condition, with intersecting folds, including two vertical folds through signature, scattered toning (heaviest at bottom) and soiling, and a pencil notation to top of first page.
Like many of his Confederate counterparts, the former general and his family settled down in New Orleans after the war, and in 1870 was named president of the New Orleans and Northeastern Railroad, incorporated in 1868. In 1881, control of that company was acquired by the Alabama, New Orleans, Texas and Pacific Junction Railways Company in a deal that Longstreet apparently found less than satisfactory—hence his accusation of fraud and a claim that the stock he received in exchange was worthless. Concerns over improper business practices aside, Longstreet also found himself at odds with other Southerners. Unlike most other Confederate officers, Longstreet allied himself with the Republican Party following the war and during Reconstruction, endorsing Grant for the presidency in 1868 and attending his former enemy’s inauguration. A few days later, he was appointed surveyor of customs in New Orleans, and at the time of this correspondence was serving as US Commissioner of Railroads. Interesting railroad content from a Southern general finding new life in the restored Union. Pre-certified PSA/DNA and RRAuction COA.
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