Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-12-01
Tho Proposed Sale Of the Mississippi and
fsnnessoo Railroad.

fonnessee Railroad.
Without expressing at present any
opinion as to the line Of policy Advisa-
bic 70 be adopted, we give place to the
following sensible communication. On
so important proposition, let oil sides
DO fairly heard and the interests Of the
city be duly considered
Capitalists, and men OF influence gen
orally in the community, sometimes are
mistaken In their views about public ex-
pedieuts and policies. Though this Ia
not generally the oase,and In no instance
does this seem to be more clearly demon
strated, to my mind. than in the circular
letter published a few days since in the
city papers, by some Of our most promi-
nent aud influential citizens. " TO sell out
the city stock in the Mississippi and Ten
nesses railroad to the owners and pro.
prietors of the Mississippi Central road.
Your correspondent enters his most
earnest protest against any such scheme
The Mississippi and Tennessee road
has hitherto, aud is now, undoubtedly
worked in the interest and for the bene-
fit Of our city, as ii should be. am in
formed that Mr.. Tate has sold out oil his
stock in the Charleston road, and that
all his property in the city Of Memphis
has passed into other hands. Sam. Tate
Is an able and far.seeing business and
railroad man. He is the President and
m nager of the Mississippi Central road
at the present time, and his pecuniary
interests are no longer identified with
u.s. II is his business now TO build up
his own road, and with it to increase his
reputation as railroad man, as well as
to protect his private interests. Mr.. Tate
would be post powerful ally,
and might be most dangerous
enemy to our city, il be felt
go disposed-which road would all
motives and inclinations lead him to
wish to build up2 The present owners
of the Central road offer him a much
larger salary than the Charleston could
or would give him; and in addition to
this, in order to identify him fully with
their road, and to stimulate his enter
prise, am told that they have made him
a present Of some fifty thousand dollars
worth of stock in the road. Manifestly,
then. il these facts are true, his interests
are all with the Central road, be it
failure or success. What does Mr.. Tate
doS he comes to Memphis, among his
old friends, with whom be has been so
long identified, and with whom his
opinions have always had great
weight, and brings General West
the late President Of the Central
road, to use whatever influence he may
have with our citizsns, to further his
project; and, so far as know, not one
single representative appears from the
Mississippi and Tennessee railroad land
Just here will say that l do not know |
what the parties interested in this latter |
road may think of the scheme), aud he |
offers to buy up the controlling stock in
the heart of Mississippi for just ten cents
on the dollar. Had we not better hest
tate before we sell ourselves out2 Had |
we not better, at least, inquire what the
purchasers propose to do2 This is a
business transaction, no Utopisn scheme
of what might be done for the benefit Of
Memphis, If the road is still gorked in
her Interests. But can we count on this |
What assurances have we that the
day after the sale is made all the
rolling stock, workshops, rails, etc, etc.,
will not be transferred to the Central
road and worked for its benefit? 1t
would double the travel, double the
freights, and double profits of the Central
road TO utterly destroy and annihiate
The Mississippi and Tennessee road, to
cut of all communication with Memphis |
by our Mississippi road, and leave US in
he cold This is, of course, mere con-
lecture on nay part; / have heard OF no
such scheme, but on the contrary have
heard Only the other side Of the picture.
The proposed purchasers would be under
no obligations certainly, either legal or
moral. to run this road in the interests of
Memphis, and would be perfectly excusa'
bic in working it so as to benefit the new
owners, but it behooves us to guard and
protect our own interests, our own city's
and our own community's prosperity. If
this sale is to be submitted to the people,
let us hear something more Of the terms
and designs than we can find in remarks
Of the agents of the purchasers before
our astute Board of Aldermen; and, by |
ali means, let us have clearly drawn,
we'll defined contract of sale, with stipu-
Iations, at least, not to use, or rather
abuse the road ip the interests of Mem,
phis.
| have no private aims or ends to |
further or forward in this matter, but |
work only as ANXIOUS uRBIs
December |, 1868.