The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1852-03-05

of rail road, and effect better Il sale of his
empty and useless boat than to take your
road at either Knoxville or Loudon.
You did not make the road, or pay your
money for the stock, exclusively for the ben
eft Of the public. You expected, at least, to
get common interest on your money. You
have already been deprived Of the use Of it
twelve years, and not vet received one sOita-
~ cent from it, either in dividends or interest;
and under the resolution referred to, will be
deprived of interest the Lord only knows
how much longer am unhesitatingly and
decidedly for extending the road, whenever
the means and prospects ahead will justify or
authorize it. Do you ask me when that will
be! | answer, whenever the Virginia and up
per East Tennessee roads meet each other
at the line, and the upper East Tennessee
road reaches Knoxville. Then we certainly
should, and not till then. say with equal
eanestness that if you had now in your Trea-
sury every dollar that would be necessary to
prepare the road for the iron and equipments
furnished by the State, that it would be bad
economy to extend the road until there is an
absolute and positive certainty rs to the time
when the upper road will reach Knoxville.
Do YOU ask me what my remedy Is, or
what do | propose, under existing clrcum-
stances! answer
lst, That the resolution for building the
bridge and letting the road, or bids for either,
beat once rescinded.
ID, That if North of the river requires the
building of the bridge and the extension OF
the road, that they have the privilege OF do
ing so, mt their own cost and liability-an
that they have the use of all the State means,
and not impose any additional debt or inter-
est Oh the eighty miles already completed.
81, That if that is not assented to, and
ample assurances given to carry it out-that
no expense be incurred South Of the river,
money or no money, until there is an absolute
and unmistaken certainty Of meeting the up
per road ut Knoxville.
4th That if the Directory will not rescind
the resolution referred to, that general meet
ing Of the Stockholders be at once called, in
order ''to reverse the DEGREES and acts Of the
Directory"
9TH, And if that is not practicable, that an
injunction be obtained, staying all proceed
ings until the upper road reaches Knoxville,
or until ample means are provided for paying
all costs and expenses for the extension, or Il
fair and equitable adjustment be made Of the
question.
These are my rcasonsand remedies, Stock
holders; and if you approve of them come up
with energy and determination, and have
them carried out. Do not depend upon one,
or the other; but each one put his shoulder
to the wheel, and say that your interests
shall be regarded.
The people of Knoxville are too sagacious,
know too well their own interests to permit
the road to linger at Loudon. They well
know that the loss of dividends on their
stock is but small consideration, Il mere
drop in the bucket, in comparison to the
greatly increased value that the extension OF
the road to that place will add to property
there. Then, repeat, permit them to make
the road from LoudOn; take upon themselves
all its cost and liability; receive all its reve'
nues and benefits either under separate
charter or under an arrangement with the
South side of the river. Either arrangement
| have no doubt can be made. Would it no
RE absolutely wrong, ask, to impose deb
of four or five hundred thousand dollars up
on eighty miles of a road for the purpose o
adding thirty more to it?-when, too, thu
Company has already ample means to pro
cure all the transportation that the making o
the thirty miles would give them-l meal
the river
The 18th section of the act of incOrpora
ton looked to the possibility of the road stop
ping at Blair's Ferry, or Loudon, and provid
ed that if "a majority of the Board of Dlrec
tors should deem it advisable or eXpedient t.
begin the work at some point on Big Tennes
see river, and should complete the road from
such point to the south boundary line Of The
State of Tennessee, the work may be con
sidered completed: any thing in this act t.
the contrary" So you perceive the very sug
gestion that here make was anticipated il
the original charter. lido not, again repeat
intend to stop the road at that point one mo-
mcnt longer than thecontingencies being pro
vided for, as alluded to in Il previous part O.
this communication.
Again: 1t is not necessary in order to con
firm the acceptance of the terms of the two
bills passed by the Legislature, that the
bridge and road, or either Of them, should be
put under immediate contract. Th(
Stockholders could be called together al
once, and the acceptance Of the amended
charter, as provided for by the two bills here
referred to, formally acccdcd to by them, as ii
the case of the three hundred and fifty thou
sand dollar loan, under the act Of January
80, 1850.
1t will be sad that the acceptance Of the
two bills in question has already been made
bv the Stockholders. That acceptance con
slider futile, and of no possible effect; and an
perfectly satisfied that any proceedings I'M
der that acceptance would be void and of nc
sort of effect, and could be cnioined by the
State. And am satisfied, too, that the State
Directors, upon more mature deliberaton
would not consent to predicate the loan that
the State contemplated under the bills refer
red to, having upon the road iron and equip
ments, upon any such questionable acceptance
The interest of the State is entirely too grea
to admit of doubt on the subject.
Again: It is well known by every person
who has thought one moment on the subject
that the acceptance alluded to was made il
anticipation of the passage Of the two biIl
in question. They were then only upoI
their first reading in the Legislature. How
many shapes they may since have assumed
the Lord only knows do not think the hi
rectors did. have no doubt they contained
provisions upon their final passage that did no
exist when this hasty and premature resolu
ton was adopted, But again deny that tn