Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1873-09-10
OLE Tile


the Rovd, $40, 30 AZ
Which is an increase in the gross earnings of
Size 500 60, and in the net earnings of $751;
5l8 65, as compared with the previous year
The Vice President and Superintendent re-
pert shows on what business the gains have been
made.
About two.thirds of the increase, has been
derived from local business, of which the largest
item have been from coal and wheat.
The increased production of iron and copper,
and the good crops of the past year. have all
contributed something towards the increase.
Ia through business, you lost quite heavily
from the Selma, Rome and Dalton Road, which,
when successfully operated is a valuable feeder,
but its business is greatly damaged by litiga-
ton, which will probably last for some time to
come.
We have gained very considerably in through
business from the Memphis and Charleston
suits of the unifcation of the management of
your Company, and that Road, under Capt.
Joseph Jaques, your very efficient Vice Presi-
dent and Superintendent.
The continued inefficient condition of the Al
abaCa and Chattanooga Road has been disap-
pointing to our reasonable expectations, and
has deprived your Company of the benefits,
which you had right to hope for from Road
so advantageously located as a feeder to your
line. We can only hope that you will not be
much longer deprived Of the benefits of this val>
liable connection.
We have no change to report in our relations
with other connecting Roads
Competition is very sharp, and much of the
through business must in order to Sc
cure It, be carried at very low rates and this
competition will be very materially increased
by the opening of the Richmond and Atlanta
Air Line Road-for the businnss of large sec
ton of country now reached at shorter dis
tance over your Road than any other all-rail
line. Still, we hope that the losses in this re-
snect will be replaced by the growth ofthe local
sources, and the through business from other
business. Progress is being slowly but steadily
made in the development OF the Iron and Coal
interests which feed your Road and although
this may not go forward rs rapidly as is desra-
BILE yet point in their development has al.
ready been reached which insures to your
Road large and increasing business from this
source.
advantages which will be derived from
the opening of the Road from Morristown to
Salisbury, North Carolina, and from Asheville,
North Carolina, to Spartanburg, South Caro-
lima.
As soon as these connections are made, they
will give to you the carrying of coal to supply
she wants of three quarters OF million of peo-
pie over a shorter route than they can be sup-
piled from any other coal fields, which will be n
very large item. 1t is also believed that these
connections will have much weight in deciding
the location of the Cincinnati Southern
Railroad.
One of the proposed routes connects with the
Knoxville and Ohio Road at Coal Creek, and
via that Road over yours from knoxville to
Morr!stown, where it connects with the line
leading to North and South Carolina. This
location would give to Cincinnati access to the
entire population of the two States mentioned,
by shorter route than they are reached by any
line connecting with the West. and open to her
a very fine market for Western products. This
connection with North and South Carolina will
be of quite as much value to Cincinnati, as her
proposed connection with Chattanooga over the
main line; and we feel confident that she is too
well advised of her true interest to forego these
advantages by making location which does not
secure them.
At last annual convention q full report
of the action which had been taken by this
Company respecting the Western North Caro-
lima Railroad, and the connection from Morris
town to Salisbury was submitted, and by you
approved. The action of your company in this
matter. as you will remember brought to your
last annual convention, parties who avowed
that they were employed by q foreign corpora
ton, which corporation regards the opening Of
the Morristown and Salisbury line as COM
peting route.
AS was then apprehended the efforts Of your
Western North Carolina Road in such shape a;
to make it practicable to unite it with the Nor
ristown road, place a bond on it, and complete
the short link, have been energetically resisted
But while the opposition has caused delay, !
cannot prevent final success The legal pro
ceedings which were pending year ago, result
ed favorably, but for purposes of delay an APP
peal has been taken to higher couri which viii
road in a practicable shape to be completed
When this is DONE we are assured that capital
lists will be ready 20 enter into contract t
complete the road, and also to give your compa
ny contract for the interchange OF bushes
apon equitable terms and at the same time re
turn the amount you have expended in conHec
ton with the Western North Carolina Road
and also the cost of the Morristown Road, wit
interes: on all or Join in the construction of tn
road, as you may deem best. In the meantime
your outlay will hold the roads, thus making
safe.
1t has been deemed best to substitute tn
Southern Railway Security Company instead G
X T. Wilson and G, Nj. McGhee, in the con
tract with Rufus Y, MeAdden, and instead z
r. T. Wilson, in the contract with Hiram Sib
ley, which was accomplished under dat
tract hereto attached. II las we hav
every reason TO believe, will he the case,) whl
YOU have already invested and loaned, in cor
nection with the MorriEtown, and Wester
North Carolina Railroads secures the compile
ton of the link, ard the opening of the lin
without further loss than the mere inconven
ence of the temporary outlay of the money, W
do not hesitate TO say that time will fully sui
tain the wisdom of the transactions, as havin
been timely, judicious, and entirely consisten
with the true interest of this corporation, and {
evincing 10 the section of country throug
which your Road passes spirit of enterprise
and regard for the public welfare, which mus
place you high in the estimation of all rgt
thinking people
While it has not been the intention of the az
mfnistratiOn of your COMPANY, To adopt TO