The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1856-01-04
aTHE STATE STOCK"


prehends the intent and meaning Of our ar.
ticle Of the 2ist December, upon "The State
Stock" We have never had any design to
"war upon the Knoxville and Danvile road,r
and if it, construction viii add TO the bust.
ness Of Knoxville and the prosperity Of the
surrounding country, we shall be graft.
fed TO learn, at any time, that arrangements
have been made to ensure It's completion 10
The Kentucky line. But we protested, and we
still protest, against the proposed transfer Of
the stock owned by the State 10 the East
Tennessee and Georgia Company. Because,
We are confident such transfer would result
injuroqsly to the States interest, to the in.
terests Of the individual stockholders, rs cal.
cunted to depreciate the value Of both stock
and bonds; because it would give the Ken.
lucky Company virtually the control Of this
Road, and endanger its success as paying
enterprise TO the stockholders) for the next
twenty years; and because there Is private
speculation at the bottom Of the proposition
to "transfer," Of which we presume the cdi-
tor Of the Wing was unadvised when he
wrote his article. We have always given him
credit for sincerity in his denunciations Of
such burrowing transactions, and we are con.
fident that, when he comes TO understand all
about the matter in question, MS he probably
will in few weeks, he will not only protest
against the proposed transfer, MS we have
done and MS we again do most earnestly, but
will denounce the whole business with his
usual vehemence and disregard Of conse-
quences. We have no disposition to dwell
or enlarge upon ~ subject, or to speak dis
paragingly ., Individuals connected with it
but this paper identified itself with the build
ing of the East Tennessee and Georgia road
when it was really odious in the estimation
of many to have any thing 10 do with it; at
time when the enterprise had neither money,
patronage, but few friends and large num-
Der of powerful enemies, and we have stood
by and sought to sustain the few men who
were most actively engaged in its construc-
ton and without whom it never would have
been built in face of the determined opposi-
zion encountered at every step. And now
that the line is completed and at work, and
the country is realizing, in every department
Of its business, the advantages we have ever
commended would flow from the enterprise,
and the stockholders (both State and in.
dividuals) nre beginning to look forward to
the time when the Company shall be freed
from debtand IFS stock readily command par
don't ask us to look on and see the "fat all
knocked into the fire" without trying to pre-
vent ito see the control of the road placed
in the possession of another Company, who
may use its means and its revenues for other
than Legitimate purposes. Build the Knox.
vile and Kentucky road, build il by all
means, gentlemen, either as far as the Coal
Fields and the Iron Banks, or all the way
through to the Kentucky line-wc would not
if we could throw MS much rs straw in your
way, provided always that you don't ask the
privilege of using the East Tennessee and
Georgia Road for that purpose. Against that
use we protest, and not against the building
Of your road. Against the proposition to
transfer the control Of this Company we war,
and not against the Knoxville and Danvi.le
enterprise.
We repeat We have no disposition to dwell
on the subject; members in both houses OF
facts pertaining to it; and it that body, afte,
the developments that will be made, shall, IL
their wisdom, see proper to pass the "trans
fer BILL" so be il. We nre confident we arc
right in our position; and are equally conf
dent that the measure will be defeated.