Loudon free press. (Loudon, Tenn.) 1852-1855, 1853-07-01
Total
100000


Besides this, $4,000 was rendered by Knox
vile to the East Tennessee and Virginia road
which the Company declined.
In regard TO this statement We have to say
that it would afford us great pleasure to believe
and know that it was made in caaG0r and to
meet an anxious enquiry after truth. But we
cannot believe so-the facts are distorted and
calculated if not intended to deceive strangers.
We take the same figures, and by making the
necessary corrections, and by true and SIM
pie Statement of the surrounding circumstances
known to all who are familiar with the ques
tons at issue, and we make quite a different ex
hibit.
1t is asserted in the above statement that of
the $570;000 stock in the Road, belonging to
individuals, "nearly" 100000, or more than
one third, belongs to the citizens of Knoxville,
and of Knox county. Now, are we to under
stand from this that the people of Knoxville
and OF. the county, own more than one third of
the individual stock in the road? 1t certainly
impression. The language used can convey no
other idea, and it simply means that while the
people of Knox county do not own quite $780,
600 of the individual stock, they nevertheless
own more than one Third of said stock. We
are prepared TO state that one third Of the iRdi-
riduGI stock of the East Tennessee and Geor-
gid Railroad is not oacned IN Knor county,
Our information on this point is, that the en-
tire stock taken and owned by Knox county
does not exceed $ls5, OOO-which is $4,000 less
than one third. Of this amount, we may take
$4,000, which the people of Knox county
were compelled to take, or else loose the loca'
ting of the Road entirely in their county. The
citizens of BlOunt seeing the indifference in
Knox in regard to the extension of the Road,
and knowing that its completion to the River at
this place, would exhaust the means of the
company, generously stepped forward, and pro-
posed if the company would change the loca-
ton of the Road so as to pass through their
county, they would furnish the means to build
it. This proposition meeting with favorable
consideration on the part Of the Company, the
people of Knox became alarmed and the peo-
pie Of Blount had no sooner raised the amount
necessary to build the Road, than they set about
to do the same thing, and they succeeded in
raising this $3.50, OOO-leaving $4,000 yet to
be subscribed to complete the road to Knoxville.
But there they stopped They have failed to
meet the calls upon this $4,000, which they
could well afford to take at "pdr" if they did
not intend to pay the money, and the only evil
lence of this intention is, that they have not
done so. We contend that this $4,000 would
have done Just as well in the hands of the COM
pany as in the hands of individuals who will
not pay; nay, more, we are satisfied that If
Knox county had never taken this $l50,0OO,
and if the proposition of Blount had been &C
cepted, the Road would now be completed to
its terminusl
We therefore deduct this $3.50, 900 "pG," sub
scription, so much boosted Of, and we have
$4,000 as the stock owned by Knox county
OF this, say $4,000 is owned by the Banks
OF tnat pace, anu was oo'aIneo ny tneh aS the
only available assets of defaulting debtors
This leaves $4,000. How much of this was
purchased by shrewd spectators after the fail
ure of the Hiwassee Company we are not able
to say.
But we want to be fair. We will put down
$4,000 as the original bone.fde subscription
of Knox. The calls upon the $4,000 sub
scription, have been partially met The amount
of moaey paid in on the calls of this $4,000
would about meet the calls on $4,000. There
fore, the largest amount of stock the people Of