Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-12-31
The Memphis and Texas R~attrsad, and
the Memphis and kansas CsCy Rail-

The Memphis and Texas A~attroa0, an
the Memphis and Kansas Csty Rail
n
Editors Appedt-The managers of til
above-named projected railroads purpose
[ understand, applying to the COUNT
court on Monday for a subscription OF
the part OF Shelby county of $500, 900 Il
the capital stock of each of the roads
These are grand schemes, and their real
izstion will open 3 golden future for on.
city gnd county-more splendid than tn
fsbled Ell Dorado of the old Csstilisn.
The Texas road from Devslls Bluff
Arkansas, 70 Jefferson, Texas distanel
Of about two hundred miles-will give d
an outlet to the Pacific ocean at Mazstlsn
over the International rosd across thu
State OF Texas and Mexico, and another
over the Southern Pacific o a to SsI
Diego and San Francisco, the only routes
across the continent not blOcksded by
snow.
The Kansas City rosd will open to NJ
the trade of an immense territory in thu
northwest, and give Us q summer route Il
the northern Pacific Ocean. With thest
roads built snd her railway system easI
Of the Mississippi completed, Memphis
viii stand upon The grand -inter-OcesniC
highway of nations and become the dis.
tributing point for the productions of hal
a continent. Whsn that day shall come,
as it will IL we are true 20 ourselves, on
county can psy the million dollars asked
for, and never feel it. And in b mean
time we can stfOId, in order 70 attain 5uct
results, TO stretch q point and pay the
sixty thousand dollars interest per an.
nun on the one million dollars of bonds
to be issued.
Issy We can afford this to attain such
results, but we must have an absolute
guarantee in the actual construction OF
the road before the bonds are issued. OuI
people are oppressed almost to death
with taxes, and have bssn badly cbiseled
in the management of some of the roads
to which they have subscribed, and
| ought, under 40 circumstances ever again
TO issue bonds or pay money to any rail
road company in advance of the actual
construction OF the rosd. If tbs friends
Of these enterprises are wise they
viii not ask it. 1 suggest, then, as bases
| of subscription the fOIloHing;
First-Esch company shall first obtain
bona fde, solvent, reliable and available
subscriptions in cRsh, or from which the
cash can be actually realized on demand,
loans in cash upon thirty-ye2r bonds, 70
the amount of Sl5,O00 per mile for each
mile of their respective roads, and shall
file, in the office of the county court, q de.
tailed schedule of such subscriptions and
resources, sworn to by b presidents and
secretaries of the respective companies,
and the same shall be submitted to the
court in open session, for examination
snd approval.
Second-The Memphis add Little Rock
railroad company and tbs Memphis and
Kansas City railroad company shall each
place In the Mississippi river, at Mem :
phis, q stesm ferrybost, constructed fol
and capable of transporting across The
rivar one locomotive and not less than six
loaded cars.
Third-The Memphis and Little Rock
road from Memphis to Madison, Arkansas,
shall be raised to such a hight above ex-
treme high water Ofthe Mississippi as to he
operated with safety and certainty at any
stage of water.
Fourth-When the first proposition has
been complied with by the Texas comps-
ny, and the second and third by the Mem
phis and Little Rock cOmpsny, and when
the Texas company snail have mlly con-
strueted and equipped ten miles of their
road nom Dsvslls Bluff in the direction
Of Pine Blu4, ard Shreveport or Jefferson,
then tho chairman or the county court
Ehall Issue TO said company hfgy thousand
dollars of the ShiSt1-vaar six per cent,
coupon bonds of The county, and so upon
the full construction and equipment of
each consecutive section OF ton miles.
counting in the same direction, he shall
issue htty thousand dollars of like bonds,
till the sum Of $500, Geo in the aggregate
shall nave bean Issued.
Flfth-And when the Kansas City COM
panS shall have complied with the first
and second propositions, and shall have
fully constructed ten miles OF road from
Hopsfeld in the direction Of Kansas City,
at such hight above eXtrems high water
of the Mississippi ss to be operated at all
stages OF water with safety snd certainty,
and shall have fully equipped the same,
then the chairman of the county court
shall Issue to said company fifty thousand
dollars of the thirty-Year six per cent,
coupon bonds OF the county; n so upon
the fuil construction in Ike manner, and
the equipment thereof, OF each oOnHecu-
tive section Of ten miles, counting in the
same direction, he shall issue fifty thou
sand dollars OF like bonds, till the sum Of
5000, coo in the aggregate shall hsYe been
issued.
Sixth-But the chairman shall in no
case issue any bonds to either company
except upon the sworn certificate Of two
~thOrOughly competent, inc5rruptible en-
kinee-~-such Rs J. L. Meigs, we'll known
in this COMMUNICATIVE the said cOmps-
mics have complied fpny with the require
ments of the second, third, fourth and
6fth pYopositiOnsj and the county court
shall appoint two suoh engineers, as Oooa-
sion requires, TO measure the work, and
ascertain and report all the facts.
ssVenth-Tha coupons and the bonds
shall, alter maturity, DO receivable for the
specific tax levied TO psS ths1n, and the
tax. pave shall be entitled to receive
from the respective companies certificates
of stock for the amount of the taxes paid
on this subscription. Respectfully,
MINOR MERIWBTHER.