62 
Transactions Texas Academy of Science. — 1906. 
1853 it was put under contract. But the company lacking financial 
means was unable to make any progress. For two or three years it 
held out proposals to the little towns along the coast offering to 
start the road at the town making the largest donation. Inspired 
by the hope of a loan from the school fund, the company was re- 
organized in 1856, and a new charter was secured from the Legisla- 
ture. 11 
A new contract was let for the building of the forty-five miles of 
road between Powder Horn and Victoria with a branch to Lavaca. 
Operations were soon suspended, however, on account of a lack of 
funds. In 1859 the road was sold to meet the liabilities incurred for 
iron and material used in construction. A new company was now 
organized to build a road between Lavaca and Victoria, the plan of 
extending to San Antonio being abandoned. By 1860 the road was 
graded between Lavaca and Victoria, and five and a half miles were 
put in running order. 
This company had great difficulty in securing funds with which to 
carry on its work, as will be apparent from the foregoing recital. 
Two or three attempts were made to enlist the services of foreign 
capital, but these proved unsuccessful. 
$320,000 was subscribed in the form of ' capital stock, $100,000 of 
which was subscribed by the city of San Antonio and Bexar County. 
• • 'VV"!' 9 
It is interesting to note in this connection, however, that San Antonio 
never received any benefit from this subsidy, because the road never 
reached there. $47,470.00 of this capital stock was paid in the form 
of land. 64,000 acres of land were received from the State, but no 
money thus far been realized from sales. 
The total available resources of the company, therefore, which had 
furnished the means of completing the five and a half miles of road 
was its capital stock of $320, 000. 12 
21. Houston Tap Railroad. 
While the Legislature had under consideration the Buffalo Bayou, 
Brazos & Colorado charter, the representatives from Houston would 
not give their support to the measure until an amendment had been 
inserted giving to Houston the privilege of tapping the road. 13 The 
steady progress westward of the Buffalo Bayou, Brazos & Colorado 
Company induced Houston to make an attempt to compete for the 
trade of the Colorado country by offering railroad connection with 
this city. 
A charter for a tap road was secured by the corporation of Hous- 
ton in 1856. 14 The city was authorized to levy a tax of one per 
