Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-04-22
MI ( ONCE MORE.
"Aad He Went for that Heather Ghlnss"-
Another Contract Shown %.
S. 55, 600 Made by an lavsztasst o. So
Ilm. Fisk and Erie Played Dat.
MItohsn's GSFmsraHt-llks Contract No.
Whsrs-A Free Elf to the NsFtOHs
Of 100000.
What Lacey ls by EsFlwsthsF's statsmsHt-
The Part they Goth Played IN Sc
curing the Merton Contract.
A Cass In PolHt-RlOh Ioks-Ths MIX In
tho GoOoaHut-IudloIal Summing Up
''WhsFs nov be eur FFlsads7"

The Four Dollar Board Of Directors are
In trouble, and yesterday two members of
it hung out signals of distress. The very
grOurd-WOrk of their attack On my rights,
tO-wiI: that the Board making the con-
tract with me was illegal, is now publicly
abandoned, and Mr.. MeriWethsr and Mr..
John L. Norton turn all their batteries on
the terms Of my contract. They labor to
prove that it reserves to me too much
compensation for the services I performed,
for it is even admitted now by these
organs Of the
OUR DOLLAR BOARD,
that I did reorgsnizs the company at
much expense Of time and money to my
self-that I did procure all the valuable
legislation for it-snd that I did success
fully canvass for stock, and turn over up
ward Of $1,000, 900 Of assets to the road,
which the Four Dollar Board are now
controlling by virtue Of 81 EACH" paid
into the treasury of the company. I Will
very briefly notice the points made
against me y the two gentlemen, taking
the Secretary first.
Mr.. Norton wants to know if I did not,
in the execution Of my contract, calculate
on "pOcketing the neat sum of half a mil
lion dollars" 1 answer, no. The only
evidence needed Of what 1 expected to
make IN cash by
NY CONTRACT,
has already been given. The evidence is,
that when the settlement of my contract
came before the Executive Committee
(Messrs. Greenlsw and Lacey and they
asked for some abatement Of the amount
reserved for commissions, I said: "Gen-
tlemen, I never expected or intended to
exact the full terms Of my contract. I
only made 1t to protect myself and secure
me a fair reward for my services, l will
now accept whatever settlement you gen
tlemen shall propose as fair and honorable
under the circumstance" They did pro-
pose a settlement, and I instantly ac-
cepJed it, by which settlement
IREALIzED Ess THAN $4,000
for three years of hard canvassing, and
released the company from all claims for
commissions on stock, domestic and
foreign, such commissions st that time
amounting on part Of the stock alone to
S65, 600, 1 holding the compsny's assets in
my hands, and fully authorized TO ''pCck-
ct" the entire S65, 900 If it had been my
disposition to be exacJing Ofthe company.
Mr.. Greenlsw has publicly attested that
this was my prompt, voluntary and will
ling action.
What does Mr.. Norton say to it2 Does
he see any "hslf million dollars" in It, or
anything u ~ Jul very 0LN4AaEF pay ~
my valuable services and large pscuniary
advances2 But Mr.. Norton thinks I have
no claim for consideration by reason Of
advances of money to the road, for the
reason that the company, on settlement,
paid me
ONE PER CENT A MONTH
on those advances. In reply I say that I
had no cash to lend, and thai I borrowed
on my individual responsibility the
greater part of the thousands that 1 used
Tor the read.
On those loans I was charged one per
cent. a month, and the company only
paid back what 1 had paid for the money
borrowed in their behalf In addition, it
is to be remembered that borrowed these
thousands of dollars when the company
had no available assets, and run the risk
Of losing 1t all. Does not Mr.. Norton
know hat in addition to the interest re-
ceived in such cases it is legitimate to
charge roundly for the
HAZARDOUS RISK e?
And did T ever charge anything except
merely the one per cent. a month 1 had TO
pay?
Finally, OF the Norton branch of the
question: Mr.. John L. Moron and Mr..
Minor MeriWether are "SI" members of
the directory of the Mississippi river
railroad, put in the Board expressly to
look after the interest of the Norton
Brothers (Of Kentucky and New York;
who are chief owners Of the Psducah
road. Mr., John L. Norton and Mr.. Meri-
wether have already, in the Board, ap-
proved and signed a
CONTRACT FOR A CONSOLIDATION
of the Mississippi river railroad with the
Paducsh road. By the terms of this con-
tract the Mississippi River Railroad Com
RanWagnnHnnH -Aw Wkn -@an1a &c
Shelby, Upton and Lsuderdsle ~cOUnties)
to increase the stock in the road from
$3.50 900, where it now stands, up to 81
$50, COO. In addition, they are to get su-
thOriJy to issue first mortgage bonds on
the road to the extent of $1,000 per mile
the length about 100 miles, making q
total of 81, 700, 600 Of bonds. This entire
amount of stock and bonds, (s2,sOO, OOO)
with the 81 ,3OO,OOO of
TENNESSEE STATE BONDS,
If they can % had, the whole amounting
10 81, 100, 900, are to 20 into the hands of
The NOrtOns, Cthat is, the owners of the
Psducsh road. simultaneously with exc
cutting the proposed consolidation. For
the terms of the contract of ~cOnsolids-
ion voted for by John L. Norton and Mi
lor Meriwether) the NOrtons' PsdUcah
-oad, s. miles long, worn out and almost
worthless, is TO be rated at Sl,S5O, goo in
itOck, while the new, well built and val
liable Mississippi River road, leo miles
ong and to cost the people OF Tennessee
100, 900, is TO be rated at Sl,l50, goo, Shus
irving the NOrtons entire control of the
Consolidated road, and making them a
present, an outright, u~ndisgutsed
FREE GIFT
f nearly 100000 interest in the Missis-
ippi River road, to be built By taxes
eyied OF the people Of Shelby, Upton and
ther cOuntiesl Not only this: First
mortgage bonds on the consolidated road
{ the rate of ST. 900 per mile, on a length
f IS miles, are 10 be issued to the Nor
Ons, not to he used in helping build the
dississippi River road but to be held as
heir personal property This makes the
sum Of 81 los, 900 in first mortgage
onds to the NortOns, in addition to their
l, $50, 700 of stock-msking a total prop
in the hands o. the NOrtons of 81, 955,-
DO, every dollar Of which, with the con-
RoAD COMPLETE,
ill yield liberal interest on the invest
Now, look at the facts: The Nortou's,
aving an old railroad on their hands.
)sting about $500, 600, and losing money
it daily, as il don't pay running expen- !
5s, come down to Memphis, and, after
OWQ1ug out MITCHELL" and MS friends
ON the Mississippi River railroad, put T.
! a new Board at one dollar a head, and
y a skilful manipulation, without a dol !
cost to themselves, obtain q con- !
by which their S40O, 900 "dead horse" !
scomss worth 81 55, O00l That is to say, !
pocket the meat sum" II quote /
orion %iunior) Of S2,555, GOO profit I said I
WITHOUT A DOLLARS EXPENSE o
themselves +" I am wrong. Norton. T
nior, paid his i've dollars initiation fee Q
Director; Norton, junior, paid in one 9
)llar for the same. Total investment Of q
10 Norton family to date, s.! 9
Look at the figures: q
rOht in stock and bonds. $685. 600 d
lsh invested. .........--.-..- 6 O
ct profits of the senior NOrtOns S2,554994
Perhaps the curious public don't see
w Norton. iun5Or. Il to % get his mOnev