Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-07-20

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piled with, would have insured the com
pletion of the Little Rock as the initial
stem of a railroad to compete with the
great Pacific Railroad of the North. 1t
is safe to presume that the terms of this
sale or transfer were in spirit the equiva-
lent of the contract made and entered
into by Mr.. Epperson, of the FL Paso
Railroad, with Memphis, for the pur-
chase Of her stock in the Little Rock
Railroad, which contract Of purchase was
entered into as preliminary to and neces-
sary before the transfer or sale of the Lit
tie Rock Railroad could be made to the
Ell Paso. The terms of this sale OF the
cit,- stock, as we gather them from the
CITY raco~ds, is such that by the payment
of sI0o. 600 to he city by Mr.. Epperson,
tba citv bound itself TO sell and convey
to Fpperson noe housqnd seUeR AaRdyed
and trentV shares o. stock, conditioned
that said Epperson would complete the
Little Rock Railroad within twelve
months from the date Of the sale THE I'D
December, 1891 unless prohibited by any
competent legal process, the time taken
up by which was not 10 be counted as
part of the time indicated. And it was
further agreed that unless the Little
Rock Railroad was finished in the year
specified, according to the true intent
and meaning OF his contract, then and in
that event he (Mr. Epperson) hereby
agrees that the said five thousand seven
hundred and twenty shares of stock,
hereby sold and transferred to him, shall
revert to and revest in the party of the
Hrst part Che city OF Memphis, as fully
and completely, to all intents and pur-
poses. as if this sale and transfer had
never been made.D And this failure was
not 70 be ascertained by legal process,
but by the fact as it might be patent to
all and any persons. And it was further
agreed lWe again qGOtS from thee contract
''that the party Of the second part Upper
som shall in no event poserye, or have
the right to demand, receive 81. or <s-
oeive from the party Of the first part
"a, g city) in case of the reversiOn and
raves ing of the said stock in the party
g,a first part, under the provisions
boroirbat, re contained, any portion of
the said ana Of n hundred thousand
1o71srz maid and 10 be paid the party Of
re frst mart As sfor said, but the whole
tbersof shall belong 10 the party of the
-arst mart as its absolute property, free
from any claim or right OF the party Of
second psrt.u And this forfeiture, it was
still further understood, was to be in fun
as damages to the city for failure to fulhll
the contract on the part of Epperson' To
carry out this contract the city is ready
m 1--WE Euperson additional time from the
zzi OF December 10 the 18th Of January,
tbs equivalent Of the time consumed in
litigation and trouble between the
and the Brinkley Directories; and
Nah le Rock is not finished in that
the Ni -feiture Is above will take
ths % by what has already been
place. Jr1dSAh hope that the contract
done, we naVFE in that time. Mr..
can be compBt~a Nat he can; he is
Brinkley is DONG W. and has entered
pushing lis contractors, k to secure
suit in Pulaski county, n .nsas State
the calas OF ST2l, 900 &ffA on the
bo,,5s SRA "a be worth 90 en- Cont
dollss. 10 secure which he asks t@ Lit
10 ss,uestrate 81 100000 stock in It0e he
tie Rock Railroad, issued by him 70
Memrais and FL paso Railroad Company
and the S572,OOO o. stock IN the
Rock Railroad, sold I'm der the HOose
ditions to Epperson by tie Guy -
phis. This last argues a breSeh p~No
Mr.. Brinkley and Epperson, o. $500
Mr.. Brinkley and the FL Paso h Ni1~
Company, who confess failure, as we
II, and haye thrown the onus and buro :"
of carrying out the contract above with :
the city upon MI. Brinkley. whose ability
20 do so is not by the Sl2l, 900 Arkansas
bonds sued for as good as it was on
the 23d of December last. We give Mr..
Rrinkiey and his c~osdjutors credit for a
good, honest intention, for earnestness OF
purpose, and for a desire TO build the
road and put it in running order. But
they have not so far been able to accom-
sIish It. and we doubt that unless aided
by Mr.. Grew, the Receiver of the Ell Paso,
that they can do so. Would it not he
we'll as we once before suggested for the
Memphis and Charleston Railroad Com
nsnv TO take hold and help this enter
prise, linking il as part Of the chain OF
railroad which one day we hope to see
running between Norfolk, Va, and San
Diego, by way Of Memphis and El Paso2
THE VAR
The rs. Economist and Dry Goods Re
q,orfer of satu rday says: The war viii
no doubt exercise an immense influence
nnon the United States, Tor it will disturb
existing commercial ana financial Iela-
- a--o4uw ngmnErfag- IL NAV /
aven Involve us in complications in case
France should Quarrel vita Spain, the
ostensible eause OF The war, and Sttempt
10 seize Cuba. The President messass 70
Congress, requesting the adoption OF
measures for the protection ofthe Ameri-
can German steamers, affords only a faint
illustration of the trouble that awaits US.
But strict neutrality should be Observed
Dy the United States, and We trust moth
sing may occur 10 prevent our GogOrn-
ment departing therefrom.
The New York Herald of Saturday
saws: The union established between the
money csnters Of the world by the agency
ot the electric telegraph has brought them
in sueh close relations that q disturbance
OF one is felt by sympathy throughout
them all. Hence when Europe is agi-
tated hy war Wall street is quick TO re-
Acct the effect. Our growing tendency 20
Greater Independence OF such influences
has had a signal illustration, however, IN
the lat few days. The European war Of
1866 sent gold dancing up nom - 70
s67N. News jGst as startling and more
important, for the reason that greater
countries are al war, meets with a more
obstinate gold premium in these days.
since 1855 the United States have taken
position among ths leading patiQhs 81 the
world. Our trade and commerce are on q
gigantic scale. The national credit hss
50 wonderfully appreciated that gold IS
not so sensitive as 1t was a lew years Aso.
A. we increase the period since ttfs war
we grow strong in geometrieal progress.
sion. Gold IS the measure Of oug 6gan-
cial relations with othSr copntrios. II ib
~yidept 70 every q that 4 wa abroad,
! with the prostra9on OF the Indus
an II the two greatest nations OF Eu-
tries ' credit advances by comparison.
rope, Glow results which follow the
efforts Of tn ssSeSsafion' AZ eompsred
street 70 get up = che gold ROOM Il just
with ordinary t" ~