Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-07-29
RAILROAD Mrrrrso AT HOLLY sranos.

| railroad line eAtenuihg from memphib
through Holly Springs and Aberdeen TO
Selma, thus traversing the great State Of
Mississippi, 10 its most fertile region, and
striking Alabama at most important
point, was inaugurated at a meeting Of
incorporators. held at Holly Springs on
yesterday. Gen. N. B. Forrest presided,
and Col. John McGuirk, Of Holly
Springs, acted as Secretary. The act Of
the Mississippi Legislature was read,
reviving the act Of incorporation-the
incorporates being thirty-eight in mum.
Der. Msj. Sykes, Of Aberdeen, said that
he and Mr. B. B. Barker represented
three of tho incorporators, which was in
dorsed by those present, as well as SINH
lar powers being granted TO Gen. Feather.
sion and Col. d. @. Topp, Of Marshall
county. Col. Walter thought action at
this time little premature, but a most
intelligent and convincing statement
from Col. Withers made things look a
little brighter. In the course Of bis re-
marks, he said:
Things are fast tending to the cash sys.
TEN, which will preclude any advances
on the uncertain labor and certain need
Of money to meet almost daily demands.
Instead Of taking cotton to Memphis, IL
will cause double the quantity to be
brought here and sold. l ask, what are
now the prospects of Holly Springs I
What has she to lose2 Does any cotton
come here from Pontotoc2 Will not the
same amount be sold here as now,
even if this road be extended to Oko-
lona2 Certainly we can and will
hold our local trade, and probably
much Of this trade, seemingly des-
tined to Memphis, may be enticed
here for shipments North and South. 1t
may be shown that our market is as good,
| if not better, for the planters even in that
section than Memphis or any other point
alluded to, as it can be proven. Again,
some have urged that it brings Memphis
here and kills this place. To such | say,
zoe are now very dead, and if we cannot
link our interest with Memphis, she also
dies; aud for one / want Memphis to be
the great commercial center. Iwant her
population to be at least 10000 in few
years. Then, with our road, a man in
business at Memphis can take the cars
here at six am, and by business hours be
at his post
After glowing picture of the prospect,
be referred to the land owners along the
road as the most Immediately interested,
and conclusively showed the increased
value convenient transportation would
give to their lands. His plan to build
the road invites immigration. In rela-
ton this part of his subject, he said
We are here, gentlemen, to confer
together, and to show, if possible, that it
can be done. The first and most impor-
tant object is cheap land. The next is
for all to subscribed The next is the
use of these lands. The next is to show
the advantages to the immigrant; to sell,
rent, lease, donate and mortgage them
for money, when, if valued low, will be
4 certain to get it at low interest. Then,
suppose this belt, twelve by thirty five
miles, be subscribed as stock, the stock
holders select twelve directors to manage
this enterprise; two 60 to foreign
countries and there show the many
advantages and inducements offered,
while the remainder supervise the rents,
tenants, improvements, and dividing the
tracts to suit occupants or purchasers,
renters, or locating even heads of fami.
lies with donations of twenty or more
acres. Now for the figures. The cost OF
this road is estimated at 81 900, 900 COM
plete with sufficient rolling stock, ! am
satisfied Memphis will subscribe all the
money to build the road five landowners
will agree to put into or subscribe our
land at one, two, three, four or FIVE dollars
per acre, particularly if for valuation
of land she has alike benefits an sale OF
these lands But l propose she sub
seribes only 100000 as stock and to be
paid six per cent interest until the road
is completed; then to receive dividends
on the same. While the land stock
holders receive all the benefits from in
creased value Of land, sale, rents, etc.,
this puts Memphis on par with other
parties who will eagerly loan their money
at some interest on such security. There
fore say there is no doubt of getting the
money if we can get the land, which, of
course, builds the road.
And again: Suppose we were to intro
duce here, by means of our project, 20
600 lsborers. An average of three to one
will be consumers Will they not bring
with them at least an average of $50,
which is Sl,0O0,000 spent here }? Will
they not produce three bales Of cotton
| (60, 600 bales), which also increases our
resources to at least So, 100000, to say
nothing of other articles of their produc.
ton and the amount annually expended
benefting every profession
Col. Withers was ably seconded by
Maj. Sykes, who said it was impracticable
to give money, but the land owners were
willing to do their part Should pros
perity return to the country, which is
probable with the election of Seymour
and Blair, they might not feel disposed
to be so liberal. He predicted that the
road could be made to pay FROM the start.
Gen. Forrest said there would be no
difficulty in getting Memphis to sub
scribe $3.50 900. He had spoken to Coils.
Tate and Wieks, who we're not adveree
to the contemplated road, and the former
of whom thought the road should leave
the Charleston road at Collierville, pro-
ceeding thence to Helly Springs. He
was in favor of csnvassing between Mem
phis and Selma to see what can be done !;
with land subscribed with clear title, the