Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-01-25
MEETING or THE CHAMBER OF
COMMERCE.
Speeches and Resolutions cOngratulstOry
OF the City Of Memphis.
A Brilliant Future Promised Colonel
Fsrhr's iron Mountain aad
Little Rock Roads.
The GIorlss of Freedom from Taxation

The GIOrIes of Freedom from Taxation.
The merchants and business men of the
city. member of the Chamber of CoRl-
merce, met last afternoon, and were eio-
aueutlv congratulated by President Mel
son on the brilliant fortunes that now
dawned upon the city of Memphis. The
repeal of the merchants tax law was espe-
! ciilly a cause for cOngratulatlon, ana
none could doubt-in view of the adjust
ment of the Little Rock Railroad embrog-
lilo. of the RECESSION of this odious, lntolera-
bic m~erchants'tax of the success of steam
boat lines running in the rivers OF Arkan-
sas and to st. Louis, and in view OF the
immediate completion Of the memphis
and Iron Mountain Road-none could
DENY that at this hour a brighter future
Iawued upon Memphis than at any
former period in the ciJy's history. We
owe a debt of gratitude to those gentle
men who caused the repeal OF the tax
law. who create Memphis packet lines,
who build for us railways. Now that the
immediate completion of the road TO Lit
he Rock is assured, the Iron Mountain
line assumes a greater degree of impor-
lance. This road Will be surveyed, locat-
ed and finished at once. The con-
tracts have all been executed with men
who have the means and thoroughly an
derstand the task they have undertaken.
report of a committee of the Cham
Der of Commerce which attended the re-
cent Convention of merchants and bank
ers at Richmond, was read IL asserted
the possible repeal of the tariff on rail
road iron by Congress, and the liberal po-
litical opinions entertained by the bust
ness men of the United States.
The Cleveland lO.) Chamber of Com
merce asked this of Memphis to cooperate
in inducing Congress TO repeal the income
tax. On this communication no action
was taken, perhaps, because Memphis is
not supposed to have any alarming
amount OF influence with the rump par
liament.
Other routine business was trans
acted, when Judge Henry g. Smith,
Chairman of the Committee, read an elaD-
crate report in reference to the seizure of
the Little Rock road by the new Board OF
Nayor and Aldermen. Facts reclted IN
this report are already knOwnt to the pub
lie. Nothing practical has been effected
by the Committee, which congratulateS
the city and Arkansas on the adjustment
Of all troubles, and the probable speedy
completion of this most important work.
The Committee stated that from their ex-
animation of the books and employees Of
he old Company they were satisfied of
the perfect integrity of the old Board, but
could not say hat the work had been
prosecuted with all desirable energy.
The people of Arkansas are assured OF the
rood faith OF Memphis, which tolls as
earnestly for the prosperity OF that State
and of its cities as for her own. In tact,
The interests of Arkansas and of Mem
phis are identical and wholly inSPparaJle.
Col. VIM. r.. MoOre's resolutions touch
ing the merchants tax law, and cOngrat-
| ulating the city and State on the liberali-
cation Of the commercial policy OF Ten
nessee, were eagerly adopted.
a committee was appointed to learn
whether complaints against certain in
surance companies for sXorbitant charges
on freights on the rivers Of Arkansas are
well founded
The resolutions of Col. Moore touching
/ the tax law are as follows:
WHEREAS, BY large and liberal eX-
| penditures OF money contributed by the
merchants and citizens Of Memphis, and
merchants and citizens of Arkansas, sew
/ eral packet companies. with superior
bolts, have been formed, and are now
successfully plying daily TO and from
/ Memphis, in the waters of the Arkansas, |
White. Black. ST. Francis and Little Red
rivers, as the result of such expenditures,
thereby bringing TO u city an immense
and constantly increasing trade; and
Whereas. The late unjust and ODpres-
( siYe system of State taxation upon the
merchants of Tennersee has been replaced
bv her Legislature with rates as favorable
. as AAAgEE ia AAAN NAAa 7AaNIA NNassA AASA~'+ ]
enabling us to compete successfully with
any city in the Union; and,
Whereas, The merchants and business
men OF Memphis have recently estab-
/ Iished, at great cost, 4 line of barges be-
| tween this city and st. Louis, thereby re-
dUcing the rates Of freight at least one
half; and,
Whereas. The statistics Of the different
cotton markets how that cotton shipped
to Memphis nets the producer prices su-
periOr to those obtained elsewhere; there
fore,
BesoIred, That in view of these and
other established and valid reasons This
Chamber do now confidently invite to our
/ CITY the entire trade of the surrounding
country, assuring them Of such constantly
improving facilities here as must secure
their whole business in the future.
THE MEMPHIS AND LITTLE ROCK M
Judge Henry c.. Smith submitted the
following:
To the Chamber Of Commerce Of Memphis:
The committee appointed at the regular
meeting in December past to inquire INTO
The matters Of controversy between the
old and new Boards las they are called of
Directors Of the Memphis and Little Rock
Railroad Company, and TO endeavor to
effect an adjustment of the controversy,
report:
Upou invitation several gentlemen,
some belonging 10 one Board and some 10
the other, met the committee, and fur
nished information to an extent, in an
sver 10 inquiries more or less relevant TO
the matters submitted 10y the resolution
Of the Chamber to the investigation and
action of the committee.
The gentlemen belonging to the old
Board appeared disposed 10 furnish, and
did furnish as far as desired, information
and explanations Of all matters relating
to their election and retention OF office,
the work, contracts, expenditures, re-
sources, and conduct and management of
the business generally of the Company,
in answer TO such inquiries as were sus-
gested by the committee. Taking the
statements of the gentlemen TO be true,
lor which the committee has no doubt, the
earnest purpose and effort of the Board
has been to buiid and complete the road,
and the means and resources obtained,
and which they had good reason to expect
10 obtain, were sufficient so TO do, had
she controversy and discredit not arisen,
growing out of the election of the antago-
nistic board and the proceedings in the
courts of Arkansas Instituted py thai
board.
On The other hand, the gentlemen of
the new Board declared the earnest and
Jealous purpose Of their Board, together
with the ability TO complete promptly the
broad. No particular Information was fur
nished the committee of the means and
resources wherewith it was 20 be done.
Upon inquiry, directed to that point,
answer was declined, further than il was
expected that the and means of
the road would suffice, aud il was not
thought proper to designate particularly
the parties from whom special aid was
expected. The result of all the informa-
lion obtained by the committee, was the
conviction that the completion of the
road would be indefinitely post
poned. if left to the delays, OBJ
stacles and uncertainties of the liti-
cation in the courts already existing
and likely further to be instituted. The
committee did not have, and did not sec
how to obtain, any compulsory power
over the contending parties. Our whole
power was consultation and advice. II
was, therefore, proposed that, as the reg
uIar election OF directors is by this charter
and bylaws appointed TO take place about
The middle OF February, the litigation
should be discontinued, or at least sus-
psnded, until such election could take
place. 1t was suggested that snch cleo
ton would regularly, and easily, and GER
tainlv determine which party should
have charge ofthe road. and thus remOVe
all grounds obligation. The proposition
was accepted by the gentlemen represent
ing the old Board, and rejected by the gem
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