The Story of Buffalo Bayou and the Houston Ship Channel Page: 14

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'Buffalo 'Bayou and Houston Ship Channel, 1820-1926

the Missouri Pacific, owed their existence to the vision,
foresight, tenacity, and faith of a small group of business
men, headed by John T. Brady, who, at widely different
dates, was the first president of each road.
On September 25, 1866 the Legislature incorporated
the TEXAS TRANSPORTATION
COMPANY. The Cormmissioners
appointed to organize
the corporation were: T. W.
[louse, Alexander Sessums, J. T.
Tinsley, W. P. HIamblen, J. S.
Sellers, C. 11. Jordan, N. P.
Turner, II. N. Duble and associates.
John T. Brady and W. P.
lamblen were respectively its
first President and Secretary. In
January, 1867, Brady entered into
a contract with T. M. Hooper
and P. M. Carey for the construction
of the railroad from Houston
to Clinton. A few years later
the property was acquired, for
debt, by Chas. Morgan, of New
York, and with what results will Foot of Fan
be seen.
Early in 1867 Brady went to New York and Boston to
raise the money with which to finish the railway and to
improve the ship channel, armed with resolutions of the
Board of Directors of the Texas Transportation Company,
authorizing him to sell $150,000.00 worth of stock

and another authorizing him to borrow any amount not
to exceed $150,000.00 for the above purposes.
A letter dated September 2, 1867 from W. P. Hamblen,
addressed to Brady, for use in presenting the merits of
the loan is interesting and reads as follows:

*in Street. 1876

Houston, Sept. 2nd, 1867.
Dear Brady: Your letter of the 23rd
ultimo recd. today and I was glad to
hear from you. I have written you
several letters and have sent you
package of Rice's report as printed by
the City, copy of map and 50 special
reports of the Texas Transportation
Company. One I enclose herein.
Griffin (W. H. Griffin, City Engineer)
has made a calculation of the
cost of the channel 13 feet to Constitution
Bend from Rice's (Hugh
Rice, a Civil Engineer) figures of
depth and distance and after purchase
of two dredge boats and sufficient
flat boats at a cost of $125,000
the whole work can be done effectually
for $108,800 to Constitution Bend.
His figures are as follows:
Cost of Dredge Boats & Flats $125,000
Cost of 27 months @ $4,000.00
per month ............. ............ 108,000
Cost of wear and tear ................ 31,250
$264,250
Less sale, or value of
dredge boats after work

is completed ...... ....--........ . 93.750
$170,500
He estimates that Red Fish & Cloppers Bars can be excavated
to 8 feet water at a working expense of $8,000.00.
I say at all times the road (railroad to Clinton) will be finished
by Christmas. I intend this week in having a talk with
T. W. House (Ist) and try to form, or rather organize, the
nucleus of a ship channel company under the Transportation

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Farrar, R. M. The Story of Buffalo Bayou and the Houston Ship Channel, book, 1926; Houston, Texas. (https://texashistory.unt.edu/ark:/67531/metapth46820/m1/16/ocr/: accessed September 18, 2020), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .

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