Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-04-17

THE Directors of the Selma Rail-
road are expected to meet at Corinth
on Monday week, to determine the
question of issuing 7 per cent. bonds
of the road, for the purpose Of pro-
viding the funds requisite to its prompt
completion. The bonds already
granted to the road by Legislatures
and corporations being hypothecated
as collateral, the security of the bonds
and of the road itself viii be so ample
that we e no reason why the bonds
now proposed to be issued should not
command in the market an amount
approaching par. That ought to be
the case, if sufficiency of the security
and certainty of ultimate payment
is an indueement to capitalists to
take paper having considerable time
to run. 1t is, we believe, aseertained
that this paper will be readily taken
up, and with the private sub
scriptions and stock already taken,
and the funds in band, besides a con-
siderable portion of the work being
already done, the means will be am
pie for the completion of the road at
an astonishingly early period. By the
first of June, and perhaps sooner, the
work will commence from this end
and begin at Memphis. Gen. Forrest
contemplate making the junction and
driving the last spike before this year
ends; and there is nc telling what he
will do, or what he will not do, when
he tries. He has done already more
than all the other railway builders
of this district put together have done
| since the war, and the means have
been produced chiefly by his own in
fuence, sagacity and energy. Mem
phis has done little to aid his great
enterprise, which is to throw millions
of wealth into its lap. What it can
do or will do remains to be seen.
BUTT seems General Forrest means
to give US a road, whether we will or
no, because that was a part of his
scheme and what he promised him
self, let what would stand in the way.
If we do nothing and pay nothing
and have no hand in pushing his en-
terprise to completion, which is
so essentially our own and for our
benefit, we shall at least owe
him a heavy debt of gratitude. We
hope he will next take hold of the
Kansas City road, and push on toward
the setting sun. The Little Rock is
located so far under water that he can
hardly take hold of that route, unless
it is to begin anew and put it on high
ground. We understand that road is
reported drowned" and in need of
q coroner's inquest. If it is actually
dead, it died quite young-being but
about fifteen years old. When the
cotton and coal of Mississippi and
Alabama, and the cattle and bread
stuffs of Arkansas and Missouri begin
to flow in to our market, and we
stretch iron arms across the whole
continent to both oceans, having at
the same time direct connecting lines
with the Gulf Of Mexico and the
great lakes and cities of the North,
we shall see a difference between
Memphis as it will be and Memphis
as il is which it would now seem eX-
travagant to predict. The time is not
distant, and the accomplishment not
a matter of doubt. They then who
have lots and lands will be immensely
profited, and made rich. And they
to whose self sacrifice, public spirit
and efforts the result is done, will be
more deserving of honor as benefac-
tors in peace than the heroes of the
battle-felds and the most distin-
guished champions of war.