//creating a text field
var external_txt:TextField = new TextField();
//loading external txt file
var externalReq:URLRequest = new URLRequest("ext.txt");
var externalLoad:URLLoader = new URLLoader();

externalLoad.load(externalReq);
externalLoad.addEventListener(Event.COMPLETE, textReady);

// txt field properties

external_txt.x = 175;
external_txt.y = 100;
external_txt.border = true;
external_txt.width = 200;
external_txt.height = 200;
external_txt.wordWrap = true;

//to make text field visible
addChild(external_txt);