Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-03-18
n EMPuIS APPEAL
MORNING, MARCH Is, 1869
SAVED Again.

SA LII
By the prompt intervention OF MI
WoLCoTT, Chairman of the q
Committee of the Board Of Mayor ana
Aldermen, the stock in the Little Rock
Railroad, the property Of the city,
was Yesterday, for the third time,
saved from the clutches OF the
ring. It will be remembered by the
readers OF the APPEAL that on the 10Th
of last menth Mr.. SIMPSON, n Of the
creditors Of the city, agreed to withhold
his claim for what was due him, and
release, for thirty days, the stock IN
the Little Rock Railroad owned by the
CITY. and seized in his behalf by order OF
the United States District Court. Ine
timethus granted, the FnsneeCommittee
agreed, should be occupied in q faithful
endeavor by them to raise the amount
(some So, O00) upon the bonds authorized
by the people to be used as collsteIs',
consenting also st the same time a IN
the event OF failure they would interpose
10 objections to the sale Of the stock TO
satisfy the clsim. The committee did
not then, nor did the citizens generally
apprehend any opposition 10 the only
feasible plan that presented itself for the
relief OF the city, sud the satisfaction ola
clsim long dus. But they were doomed
10 disappointment. The few who desire
that Memphis shall be governed and
controlled for their benefit, labor
ing, perhaps unwittingly, in the
interest OF their friends who desire
50 possess themselves OF and monopOlize
the railway system OF Memphis, inter-
posed an Injunction from the ChsDcery
Court and put q stop TO the negotiations
that promised immediate relief for the
poor and needy workmen OF the city,
payglHnt OF tie city's creditors and re-
lease Of her property from the limbo IN
which il had lain 50 long. Il was known
TO this select few that every other means
ofraising money hsd been exhausted, aud
that only by the use Of bonds as collste
could the crisis in the financial affairs
OF the city be relieved. II was also
known TO them that unless the amount
claimed by Mr.. SIMPSON was promptly
paid on Tuesday, the stock, for which
not a few pretended friends of Memphis
huDgered, would in all probability pass
into hands that would forever msniPu-
late it for selfish purposes, and, If neees-
ssry to that end, against the interests Of
Memphis. Yet they ~persevered in their
Injunction. Appeals to their Of
the needs Of the poor w~orkingmen, to
their interest, in common with all 9TH
ers, ia the good faith OF the city,
70 their interest in preserving to the
city some control in the management
OF 8 corporation at no distant
day to be . Of the most gigantic ia the
country, all failed to move them. What
they wanted to accomplish they could
not we'll explain, but they had the money
and the property to offer as security and
were willing for a little while to play at
law, no matter whether the poor man,
who had worked for months for the city
faithful promises, had bread or
whether the property Of the city they
to be anxious to a ' was sold for
a soDg. Fortunately, at the last mo
ment, Nj. WoDcoTF was able to ffus-
these designs Of the " ring " upon
the Little Rock Railroad stock, and
with the aid OF Mr.. DAVIS, OF the
National Bank nquidate the claim
of Mr.. SIMPSON. This being done on {
Mr.. WOLCOTTis personal note, the stock {
g fully redeemed from all ENHANCEMENT :
law; forever TO remain so, let u hope. :
Meanwhile, the Injunction Glands the :
poor men in the city's employ are IN .
1aid, the streets are in an unusually .
ilthy condition, the repairs and labor :
necessary At this sessOn to pat our road &
ways and alleys in trim for the hot days c
f summer, are suspended and, gener-
lily, the wheels OF the city govern
nent are cioggad. and all that a few
men may indulge themselves
y playing Citizens Union" end testing 3
he extent to which the law will humor n
hem in an attempt to decry the credit f
u Memphis FOR Interior purposes. This
g the simple story Of q wrong, the great I
1T that has besn brought TO the public ?
attention in weeks, and one that We con 4
ider disereiitable to all who have lent q
themselves to it.
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