Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-06-30
EAST TENNESSEE,
Important EnterprIse-IIne of Steam
ers Between Norfolk and Liverpool
-POIttIcRa-Weather and Crops.


CorrespoI 1ence of the Union and Dispatch
BRISTOL, Tenn, June 25, 1S68.-The
people at this point, and especially the
cities east along this line of consolidated
railway TO Norfolk, are very much inter-
esteG over the proposed enterprise of es-
tablishing line of steamers between Nor
folk and Liverpool, thus establishing di-
rect trade between the South and Europe.
The voice of the press South since the pro-
lection Of the enterprise has so far been
encouraging sufficiently 30 10 give the
projectors of the scheme ssEguine hopes of
success. The meeting, which is to be held
in this place next month, will give the en-
prise tangibility. Some of the most promi-
nent commercial and business men in Vir-
ginia bave signi6ed their purpose of being
present on that occasion. Gen. Mohone.
President of the consolidated line, as we'll
as President Branner, Of the East Tennes-
see and Virginia road, indorse the measure
and commend it to public consideration.
The plan for raising the funds necessary to
put into operation such line of steamers,
is 30 practical that the enterprise is sure to
be one Of an available nature, notwithstand-
ing the peeuniary embarrassBaents Of the
country.
The projectors of the enterprise propose
that the line Of steamers consists Of three
large and substantial vessels, TO cost at
least from $4,000 TO 100000. To raise
this sum Of money they propose to organize
stock company from the friends of the
enterprise, suffering no stock to be sub
serlbed except from good and solvent par
ties. Whenever the stock subscription
reaches the sum Of one million Of dollars,
then issue the bonds of the company to the
amount Of the cost of the vessels, say from
$750,000 TO $500, 900, said bonds to mature
in Liverpool at the end of ten years, bear
ing rate Of ak per cent. interest animal |
~, the interest on such bonds payable ai |
the same place sesni-annually in gold. |
Having issued the bonds procure the in !
dorsement of the railroad companies that |
are directly interested in the success of the |
project, giving them lien, both upon the |
stock list and the vessels purchased, which |
as considered as ample security.
Such bonds as those, Issued by a compa- /
ny operating upon such basis, would com
mand q large premium over our ordinary /
State bonds in fact, they would sell above |
par as against our currency, for the reason !
that they will be well secured and at ma
turity paid in gold, as well as all interest |
accumuiating on them, and at point (Liv- |
erpool) where all freights are to be paid. |
Should this enterprise succeed it will con I
tribute much toward The development Of /
this country. II will have the effect Of /
drawing trade and immigration South in
stead OF North. A healthiul immigration,
such a. the German population, is what
our depopnlated and waste country reeds
Everything, every enterprise, looking TO
the building up Of our oarn peeuniary losses
should be encouraged
APPROACHING CAMPAIGN, ETC.
Much interest il felt 10 East Tennessee
a reference to the pending canvass for the 4
Presidency. Andrew johnson is the choice
Of the masses as a general thing. The
story published by the correspondent of
the Cincinnati Gasstte, written from Knox
vile the 6rss OF this month, 20 the ef- |
feet that Andy johnson had no friends