Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-12-08
PROJECT OF THE SOUTH
ERN RAILROAD AssO1I-
ATIUE."
Cara frOn, o.I.sam. Tale.

perceive from various articles 30 the
papers OF this eli y that great miaGpprs
pensions exist In relation to a PROPOSE
lion made by Gen. West and myself 70
purchase tins stock held by the city 10
| Jhe Mississippi and Tennessee railroad
company. A desire that The public may
Ue placed 10 possession OF the fscIs III |
Juices me 20 make this statement. Our
proposition wss a naked one 10 purchase
the stock at ten Cents 81 the .fulisr-
more than It's market value, and more
than II Is intriDsicziiy worth. We stated |
| that We desired to purebSss ths stoeg IL
order so give Is, and those connected
With cs, the contr1l OF tbs road.
We further stated that We would not
touch II unless we could purchase ft
Without conditions, aud with the full ep-
probation snd co-0peration Of Ooi. White !
tue President OF the road, the eitiz SIS os
Memphis, Col FtuFnoy, tie President o.
the Paducah road, u Mr.. Mitchell, the
President OF the Mississippi river road
(Msmphis to Froy)i that Col. WHITE
vas present, cooperating with us-mF. |
! Flurnoy had left the day before, and We
had MS full cooperation; that Mr.
/ Mitchell was absent, bus ne we're as
sursd of his cooperation that We de
sirsd,tO make this purchase for the pTr-
pose Of Kidding the roads OF their pres
snt heavy deDtS, and place them IN 3
condition 20 offer Inducements 10 Capt.
tslists 20 take hold of them, and aid IN
completing Mr.. Mitchelps road, and
making 8 consolidated through line from
the great Northwest, through Memphis
to New Orleans. W. had invited prOni-
nept men Of capital In Psducah to come
tx ae scheme; they had consented to
- ~ NLTGVH, A.a HE Fwfan2a rar
invited TO come in. Other prominent
eitig a OF Memphis we're invited TO put
In any amount of capital they desired
I [ stated that / represented the Southern
Railroad AssOcistion-mea OF large espi-
tai, who had leased the Mississippi Cen
tral Railroad that IL they could pur-
chase q sufficient interest il this road TO
| enable them to control it, 1t would De so
iuducement to them to aid in making
this q great through line TO the North
west.
That II the Paduoah line and Grenada
lire was concentrated iG the hands Of en-
terprising capitalists, il would Insure the
completion of the parting link, aid it
was certainly the Interest OF this city for
the same parties controlling the MIssjs
sippi Central to control this line then
the -antagOnisms supposed to exist BE-
tween this city ard that line would be
neuiraliz I'd, as It would make no differ
ence which route tue business weat
We spoke OF the probable mode OF IN
ducing capital TO undertake the building
of the wanting link (Ar. MitchelPs
road; one Of the plans proposed, yes to
ask The city OF Memphis 10 otter q bonus
Of $500 900 Of her '67 bonds, 10 be deilv-
ered after the through line Was completed,
as Paducah had through ner prominent
citizens proposed 10 do. Counties along
the line we're expected 70 dc the same
No bonds were asked for now, nor was
the city asked TO decide that Question
a y, nor did we propose to build any
neg road now. We OILY suggested TIT
plans that Eaight possibly De adopted
wen tbs proper time arrived. Mr.
Mitchell and his fTieldI rad TO be coz
suited, a general plan s 10 be adopted
So all the parties ia interest, Tue Pa
iuSah road mad to Us sold soon by a 10
cree Of the Federal Curt; there sas ~
time to be lost. t thea5 roads c0uld
bs controlled q. low rates, it Toutd %
a great iDducemaut t. our flisnds 10 uH
dertske 70 completes the waiting IiAk,
snd make this sgrsst through line. We
desired to know whether tie people o
Memphis were willing 20 bier aoy in
ducem snt to those associated with IS t.
Cooperate with them, in a great enter
prise that would require but little MONEY,
and be productive 70 them OF advantage
that are ineaieuis0le, out of which We
and our frisnds expected TO make money.
Ths proposition also Contemplated u
general union depot here, by waion the
commerce OF the city would be relieved
or tins great deiay and expense now nee
esssry 10 bs Incurred for transportation
between distant railroad dspO:s-sigsys
a greet iBcubus to trade. IL l. only pee
e ssaFy foI any cue to examine the map
to see that this gives y0G o shortest anu
best route through yOgr cjsy from any OF
tie great bu -iness msrts OF the North
west 20 New OflesRs, and for all tusiue=S
coming from the Z stern cities going
to New Orisana, fully rs sport q
line as any otheY. Would NOS these oe
advantages worth Striving for, ana
would your city not tnen De on the grea'
railroad highway7 Ask yourselves, j.
she on It u0w?" But We do Dot wish o.
thrust O views on the people of your
city, nor 40 We desire to haVe any fur
Their connection with sDy enterprise
when we cannot gstthe hsarty eo-opsTa-
ton Of the peopls who are interested 10
It, and who are to be the great bench
ciary. When We made the proposition
we sought an interview With many lead
ing citizens and properiy-hOiGers laTg-
and small, aud presented our views.
We found ag-egery one We talked
t)-ready and anxious to co-ope-
rate with US. We were Invited
to make our statements to the
Board of Aldermen. We did so, anu
left the city 70 be sbsent seYeFsl days,
aud were never more surprised than
when we saw the opposition to the
scheme that was exhibited through the
press. I returned Immediately 10 learu
what the cause was Of the change. To
nv surpFise I found no change. All the
old citizens and leading property holders
here, who were most interested In the
city, were still as anxious rs ever to see
the scheme carried out but 1t seems
that a few leading Aldermen think some
body wants TO make money out Of it, or
has some scheme on hand 20 ipiure the
city. / have no fear Of any honest man
thinking this OF me, Ny public acts for
tWspty-fv We years az 8 citizen here are
the best evidence ! can give OF my future
action, snd / shall be content 10 allow
those who know me best 10 pass iudg-
ment on my o0urse. I have business
enough without entering q contest for
more; and finding opposition from Ger
tain quarters 70 ray plans | have With
drawn them, and shall ave no further
connection with It, unless proposition
ONE from your people Then / shall Be
happy 10 cooperate with the good people
of this city in any thing that will sd
vance their prosperity.
Yer, respectfully, SAM. TATE.
LADIES! II you wsnt a good Ciaak
for lIttle money, so to Rioe s. Engsrs.
nov26 II
FREE LUNCH daily At r .ggio's, 10 JEFF
feTSOD street I'm