Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1873-01-21

Morrow, the worthy and popular Treas
urer, was reelected almost unanimously.
MEMPHIS AND KNOXVILLE RAILROAD
The annual report of the President
and Directors of the Memphis and
Knoxville Railroad Company, dated De
cember G, 1872, is before us, in neat
and comprehensive form. The officers
are: General r. P. Nicely, President;
W. C. Dorion, Secretary and Treasurer,
and Major Thomas II. Millington, Chief
Engineer The Board of Directors con-
sists Of Napoleon Hill, of Memphisi j..
j. Tharp, Macon; Hon James Fentress,
Paul T. Jones and General R. P. Nicely,
Bolivar; William Rush, Hardeman
county; c. NJ. Cason, Henderson sta
ton; q. L. Ross, Henderson county, and
Thomas Davy, Saltillo. The President,
in his report, sets forth the fact that the
charter was granted on the 9th of Jan
uary, 1872, and that subsequently, the
agents of the company met with crafty
ing success in procuring individual sub
scriptions to its stock in Hardeman and
Fayette counties, and in the eastern part
of Shelby, but private subscriptions were
more limited in the western part ofShelby
county, especially west Of Wolf river.
No effort has been spared to increase
the stock along that portion of the line,
but as yet enough has not been secured
to Justify the commencement OF work at
the western end of the line. Surveys
have been made from Memphis to Boil
var, sixty-three and one-fourth miles,
and from Bolivar to Saltillo on the Ten
nessee river. The distance from Bolivar
TO Henderson station on the Mobile and
Ohio railroad is twenty-five miles, and
the line is located through fertile val
leys where the cost of construction
would be comparatively light. (This
link has since been put under contract
and work begun.) The call of five per
cent. on stock thus far collected amounts
to less than $4,000, and the amount is
about covered by expenditures, showing
very economical management. The
charter has been so amended as to au-
thorize the extension of the main stem
of the road to Knoxville and the con-
struction of branch road to Nashville,
and through Wayne, Lawrence and Giles
counties to Fayetteville, Lincoln county.
In Wayne, Lewis and Hickman coun-
ties the road will pass through mex
haustible beds of rich iron ore, the pro
ducts of which are so much needed in
the Mississippi Valley. Hydraulic &C.
ment, limestone and building rock of
excellent quality are found in abundance
also, and the road will reach immense
deposits of coal, iron ore and other
minerals. The cost of the road is esti
mated at SIS, 900 per mile, which is less
than the cost of most Southern rail-
ways. This route would bring Memphis
twenty-five miles nearer Nashville taan
by present connections, and without
change of cars. The road will traverse
a scope of country 357 miles in length
and an average Of seventy-fve in width,
now without a competing road, and'it
can be built at less than half the cost of
the broad-gauge roads in the State,
operated cheaper and be capable of
doing all the business presented. 1t
passes through a section with teeming
SOIL genial climate, immense mineral
and coal deposits, inexhaustible water
power and an industrious, energetic
population. If built as designed, it will
be a profitable investment. The report
of Major Thomas H. Millington, the
chief engineer, goes into details, fully
and extensively, and contains an elab-
crate argument demonstrating that
a narrow-gauge road is preferable to any
other for this route, and the various re-
sources of the country from Memphis
to Knoxville are given in order:
The distance from the Mississippi
river at