Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1869-01-06

EDITORS LEDGER: Very much mas
been said recently in regard to the sale
of the city's stock in the Memphis and
Little Rock railroad. In justice TO my
self, deem il necessary to lay before the
public NY connection with the transac-
ton, and my object 10 making the pur-
chase. / will inform the press and all
others interested, that the purchase Of the
said stock was entirely on my own indi-
vidual account, and that l have no con-
nection whatever with what is usually de-
nominated the ring, nor with Tate, West,
or any other parties. My object and
purpose in purchasing the aforesaid stock
and not the bonds, as some OF the pa
pers will have it, are IS follows; My de-
ceased brothers estate aud myself are
liable for the company for the purchase
of iron, as indorsers, near three hundred
thousand dollars, aud also hold OF its
fret mortgage bonds and coupons up
ward of two hundred thousand dollars.
To protect this interest l wished to get
control of the stock of the road-not that
the stock is intrinsically worth any
thing, for / have purchased within
the last few days stock in this same road
for i've cents in the dollar.
The question may be asked why wish
TO control this stock2 / will answer that
with this stock in my hands, will readily
draw around me men of capital, who
have confidence in my judgment and my
well known energy and perseverance,, for
| have yet to learn what it is to fail in
any enterprise have ever taken hold of.
The citizens of Memphis, in common
with myself, want the road built, to &C
omplish which the city could we'll afford
to sink her interest in the stock in the
bottom of the Mississippi river, as the
completion of the road is paramount to
everything else.
In this purchase have guaranteed to
the city to have the read completed,
equipped and running through from
Memphis to Little Rock within twelve
months. If this road is not completed
within reasonable time, but suffered to
drag along for the next few years. as has
been fer the last several years, and the
parties to whom am indorser for iron
furnished the road should press sme,
would be hopelessly ruined / think
these remarks are sufficient to satisfy all
interested parties.
1t is quite amusing to see what lively
interest some of our worthy Aldermen
take sometimes in regard to the city in.
terest 10 railroad stocks. when it is well
known that some months since her stock
in the Mississippi and Tennessee road
was sold under the hammer to satisfy an
} execution against the city. None came
forward then even after considerable
~ 10 nj tha
(Mr. Loaand) and the Finance Commit.
tee to protect the city. bought in the
stock myself for the city, advanced the
f purchase money, which after consider
able time was returned. Had it no
been for my action in this matter, thi,
stock would have been in the hands o.
} parties who would have used it for mer
oenary purposes, and probably much t
, the disadvantage of Memphis. / merely
mention this fact to let the public see j
my action in the city's railroad stock
looks like speculation on my part, as ha
, been charged by some of the papers.
will make another allusion as to m,
connection with the city. | see from thu
Mayors message, that the corporatioI
, has gained l2G out of the lat suit
brought against it, and / have no doubt
if you will ask the worthy City Attorney
he will inform you but that for me, man.
of them would have been lost; for, afte
, wearing himself out running abou
/ to find some one to 90 security 70
the city, | was the only person b
could get to come to his assistance il
getting justice done her. In conclusion
> / will state that all my interest and all
have is identified with Memphis, ana
, am willing to put my all in the comps
!. ton of the Memphis and Little Rock roac
and believe am as able and as we
5 qualified as any man in Memphis to carr
out this enterprise. W. B. GREEYLAw.
= U.s LA III .ycou shall ov 0aun al