The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1852-03-05
TO THE STOCKHOLDERS OF THE
EAST TENNESSEE AND GEORGIA
RAILROAD COMPANY.

RAILROAD COMPANY.
The resolution of the recently elected Di-
rectory of your Road requires your prompt
and energetic and unhesitating action-your
positive command and instructions. They
have required the President TO advertise for
bids for the immediate construction OF the
Bridge at Loudon (Blair's Ferry and the
preparation of the road north of the river to
the city of Knoxville, preparatory to the pur:-
chase Of the iron and equipments. | have
not seen the resolution in question, but I'M
derstand such to be its import. At the outset,
| declare that am not, in the slightest pos
sible degree, opposed to the completion OF
the work to that point, whenever the means
of the Company, and the connection of the
upper East Tennessee road will authorize 1t,
and largely increased debt is not imposed
upon the old, long, suffering and torbearlng
stockholders. The present debt OF your
Company, upon which you are already paying
an annual interest of six per cent, / think
exceeds fire hundred thousand doliarS, upon
which You are required to pay promptly
and large portion of it, too, every six
months thirty thousand dollars for interest,
or fifteen thousand every six months--aslde
rom thG "'Iler cAPoH9eS vi youi ~ W. Ia
cIudihg lhe suaries OF your numerous oillcels
IapoicfS' IePliI Vi ioHI' iep,n VI ,,'.s.,,r
other heavy charges, too numerous to particu-
larlze; which will probably exceed the sum
of thirty thousand dollars amounting ID The
aggregate to sixty thousand dollars, This
SUN oii,S eo"S'''u'os YOU P'ooJ,'v -,
ness Du' "ileh our io"u .I', o,I
(DlHir fcfI!J you may WILL ant Jo,,,n
proOaDIy WIN a9Solu'e GeIt'i'l'y, I ~ oo"i'
your oeDI your DonueT ucpI oIpll' H.
' W 'e 'liolc eHP'oit 'liI 81 "ug' e., thn sun,
oeue mus Io"l,c' ou l,er DVU9 io' '' Io,Ia
VI '.'co n:nuiou ''''e 10y at o,,J ,,lfoI
o"l"ls '"i i'i'T'oo' 81 ia Lo' T.; ,r,,. f,,ds
Is icquHVu " Oe PIiu ny ~" u ~ i" u "r
ui orI!i' prompt! anu I W, ~ ~ nn,,inn,o,ts
yo9 IollolI you lo"'t a'," 'I' ,,d ,,ppaan5
ahu %tPul ,1'''''lIIH 'DSor" ,,o,,r E,nIaJ
J'"l"ny p'T.' I','ly' Nata, ;ssnaJ ~,
ueo' CONSISTS Vi nou"a i'i',i ~,
your colI'PaIl!' uloH "'i1.i ~" P"IT w.
Iu'l ih,erGSV Vi SIN P'l 'e'i', ''',T -, -,
say. .dG "heh your rolu rto''oS i'o'','o''i W.
bIalr ferryg you may SCI HoMl !GI Ior ID
AZ "pW'nu9 u slH ii,'', ;II thon
''e Iil'GiG9' vi Nti'on VII i; ~ . i ,,,fI
S'llu uo'l'Is7"Il Vi Tlil'n mus. W. r aa,,
promptly as 1t pceoLieo 0u'' - o Jnoi,rod h.,
DC SOFA LOT us payment "s ~ 70 u''a,"
inc act creating IL 10 oe PeLSo''"' liol -
SUBJECT however 10 'no hiVi .4o ;4a,'j
loluS uPo" It, u'1t n.y. g. .t' t;a,a ,,na
70 "lle you lolS le.vulo g, WIS Mt
lte course pursued ny YOU P'?st'ii 80.
~ pu'' III .e.l p,'., i,'' ,'' i,tanostinl,
W I'li YOU "tl0Iit.on " Wv odaa7
ana, Us lillNi l"'''I e"'Y.e iT plijnt ~,
Gu oy ''lav oTu!' loai "ao ISM, ~, tI,o
SentS you W''u No'y i"I.'li, j,,nr.
c0hdiI'oh Oh your I9'u ~ ~ uoIn' 1 hoS
al ne ii'S s..'' 10 'o''I sU" aUaoss of
MAUI P'o"'' VI l1.l'l '''oH9 W.. ',il
feceP's oyer eNe'uatu & nU tha
interest," '!l'' 10 ''io i'0i ~ Wv, u"' 80, 100
h YOU o"c' 10 1n n'"u up " '''S 80
,i"t Is no uouot ".oo !. u1 n%' ro -
tell you tila' 'l,'' Interest "19 ooen u0' m -
or maze from 'he ProIVs VI ''ic ioau
interest nave no uoup. w'lS el'ner py.% 49,
lor IRON the Proniiu n1 a. O. g., ~, ~
IRON ~ po'i''a " $1,000 So.u I'D d., IT, tho lottor
4l yo"i y" G.i'i'''' l;,o',,t e ,. 49, on
il''o ~ u 4p"pl ,,' "."dmo;nn loss 70 tbo
per ccn''' t'etepy p'V tLuoa SSa.o5 al
company vi II. . .I ',n'o aai,an solJ ond
upon o'In onI sno 10 ,.or. oIraa5,, oxi.timo
t''Gropy' 'oU' ",,u " e9 ~" ',,t;nt ~ ,ror5
eeo' Us. 'Iiv 'nl,oulr to nf T ;m+ m hnd
i5sueu lor 'lie pay tiou u Wv Ia Nv
''''S must ne'oaS'',, e "iU a ~ 30
us IohG rs YOU i"'u l4'iS ~ ; out0 d. ,;'
ehousll 10 pay an oo'y ,'i,' ,.' Lo
as II may, 1he interest Nus no. ptE" PAU iron
the earnings OF rhc roHu HOT M.ll I. DC anu !!
'nG upper I'"S' e'iucoooo io',' u,'l'19 WIN
al hhoNNiI'e' anu nlUreo'.I' llo Dileo'ol,
VIII certa"ty DC coihPGllcu 10 lnciease YOU
lhueDIeohGSS D! 'lo sue vi "u.i I oo Ool
pany bonds I" u'Scouh. vi AZ least oo PEI
, cent, Tor the payment OF 'he July interest OF
your debt; Tor there are no more Su'te bond'
to sell at premium. MY immediate Object
is to show you that you cannot more thar
pay the expenses ariSihg on your road ana thC
interest on your Indebtedness AFTER the ROAD
reaches Loud0n-not leaving you one soil
tary cent for dividends, or Tor lhe use OF YOU
money that you have pad Tor making 1t some
twelve years ago. WIN you then consent tc
! extend the road thirty mlIGs 1urther' merely
creating an additional debt OF from three
hundred and fifty thousand to hVe hundred
thousand dollars ana upon Whleh increased
indebtedness you will be required OF course
to pay an additional per cent interest," and