Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1870-03-21
FINANCIAL AND COMMERCIAL.

NEW SOURCES OF WEALTH.-The Memphis
and Charleston road, next to the city of Mont
gomery, is the largest shareholder in the
Decatur and MONTGOMERY road. This
fact will astonish many Of our readers.
One would naturally suppose that
the Memphis and Charleton Railroad
Company would deem line, which in effect
cuts of and renders partially useless seventy
miles of road between Decatur and Stevenson,
inimical TO their interest. On the contrary,
Major Wicks furnishes every possible facility
In promotion of the mighty task undertaken
by Tate. Greenlaw and Wallace. The iron
will be laid down from Decatur south, from
Limekiln. on the Selma and Rome road. in
both directions, and from Montgomery, north.
The celebrity with which railway may be con-
aructed is limited alone by the rapidity with
which the iron rails may be successfully laid
down. Only a given number Of hands can be
employed at this task, and the rails must be
continuous and touch each other. Messrs.
Tate, Greenlaw & Co. have extraordinary ia
cilities. in the fact that they can build from
many points at which iron may be deposited
by other roads. That Memphis may antlci-
pate extraordinary advantages from the Mont
gomery and Decatur line, is demonstrated by
the action Of the wise Directory, of which
Major Wicks is President. We may add that
in the promotion of this most important work,
the Legislature of Alabama has made more
liberal grants than to any like corporation in
the State. The State issues to the company
sixteen thousand dollars in bonds per mile.
~ - fhto ~ st.ah ha fatfk
posed in those at the head Of the enterprise.
an additional one million dollars was loan ed.
The city of Montgomery Invested her bonds
to the amount of half million in the great
work. and Aontgomery banker. Josiah Nor
ris, cashed the whole at 30 cents. Has Mem
phis such a banker?
Bonds AND srocKs.-Memphis bonds were
quoted in New York at sic last Wednesday,
and Atlanta bonds at " 70 Sc; Mobile and
Ohio. sterling bonds. 70 to 76c; Mississippi
Central, first mortgage, Il to IS; second do.
So to 90; Memphis and Charleston Railroad.
first mortgage, IS TO 81; second mortgage, 76
to u; stocks, a.; Louisiana rs. "A to IS; SIS,
50 TO 81; Tennessee State bonds. new. sos to
5O14; old, ex-coupons. SOC, ha
THE BuLLs.--Here bonds and stocks have
their prices regulated by the New York mar
ket. and when a local ring wants to stand
from under.'' il must needs join the bulls in
Wall street. Such a combination is now at
work. The process characterization is feared,
and bond and scrip holders are anxious to sell,
To accomplish their purpose desperate effort
has been made TO augment the market value
az our local securities. Of all descriptions.
We advise people TO touch lightly until the
effect Of perjuries uttered before Beast Butler
is known. The thieves who have been plum
dering the State. cities and counties for the
past eight years, and absorbing bonds Of all
descriptions. would now sell out. place the
negroes cracked heel upon our necks, inaugu-
rate a new cara Of robbery and savage despo-
tism and appropriate the last wreck Of State
and municipal credit.
CorroN. ~ Little vas done Saturday. Many
purchases were prepared for shipment and ae
counts and balances adjusted. The latest
sales were PIC for middlings; 2l1s 70 q for
low middlines. Holders. IN some instances.
demanded higher prices. The sales Of sstur-
day were nearly 100 bales. shippers are
having a merry time. and planters should not
forget that Z cnly costs a dollar Just now b
transfer . cotton bale 10 Louisville. New York
or Bosta=. f-en Aezphis. COMPETING freight
lines are cutting one another's throats.