Whig and tribune. [volume] (Jackson, Tenn.) 1870-1877, 1873-12-20
Presidents Annual Report.
10 ihc Stockholders OF the Memphis
and knoxville RailrOnd Company.

president annual Report.
ana knoxville Railroad Company.
Gentlemen 1t is with pleasure,
that your President and Directors
present this, their second annual
graduate you upon the prosperous
condition of your road.
In compliance with your instruc-
lions, at the last annual convention,
(hcld Dec. 9th, 1922 We have, un-
der management of your then Chief
Engineer, Capt. Thos. a. Milling
ton, proceeded 10 locate and let out
contracts for the grading and pre-
pairing for cross ties OF your road
bed from Bolivar to Henderson
Station, on the Mobile ~ Ohio Rail
road, distance of % miles, with
the exception Of small portion Of
light and unimpOrtant work that
can be finished up, when the heavier
work is nearer completion.
We are pleased to state that most
of said contracts were taken by
farmers and others, who work to
pay their subscriptions. The bal
ancc, say about one half, was let, to
be paid for in cash. All, or nearly
all, of the contractors have worked
with commendable zeal, and, had
the cash subscribers been rs prompt
to pay their money as the workers
have been to do their part, the
work would have progressed bet
ter; however, as it is, about one
third of said work, has been finished
up, ready for the cross ties
and iron, and we will be OK
cused, for parliculariZing few
who have acted most nObly i'm for
wardine the work, To nit: William
Rush, Esq, (whO has finished up
his second cOntraCt,) Jno. n. Rush,
SCOggins, Perkins, Skinner X Co,
Capt Il NOss, EOwscv ~ BulnCr,
Dan OZment, Rogers ~ Simmons,
II. Jackson, l.. V. Brooks, John
HuddlOston, and L. llaltOm, all of
whom have nearly finished up their
contracts. Then west of llatchie
river we will mention the indcfati-
gable John Warren, who has pushed
the work in lIatchic bottom with
such vigor, and who will soon COM
mcnce work on his second contract
through the farms of DR.. Sherrcll
and w, CasOn, Esq.,-hc hayingpu
force on portion Of it.
Your attention is called to the re-
port of Mr.. ii. w. Allen, Engineer in
charge, which shows amount of work
done, amount to be done, &c.
The balance sheet of Treasurer
Adams, shows the condition OF
your Treasury, amounts received
and disburscd, to what accounts &.
Your Sccrctary's report show
amount charged for Engineering,
amount for grading, and Incidental
expenses, also salaries, clerk hire,
&c. We will here remark that every
thing has been conducted on the
most economical plan possible, and
we ask a comparison with any COM
pany in existence.
We can truthfully state that the
affairs of your company are in con-
ditiOn to compare favOrably with
those of any other, either north OF
south, and had it not been for the
financial crash, which has lately
come upon the country, the work
would have been pushed to an early
completion, In spite of some of yOur
number, i'm and about the town OF
Bolivar, who are Withholding their
subscriptions and making il ucccs
sary for your collector to pres those
who have never failed (from a sense
of duty and public cntcrpriSc,) 10
pay their calls. Had all promptly
met the calls when due, and helped
. /,
the earth work or grading would
have been finished from Bolivar Ia
Henderson Station. As il j., we
have thought best to restrict vom
contractors TO some extent, and
keep the work within our known
ability to pay promptly, thus avoid.
ing contracting debts, and better en-
aiding Us to prosecute our work
with economy.
IL is proper for us TO state that al
the last October term Of the County
Court of Henderson county, (csti
mates of the cost of proposed lines
having been made and filed a pro
position for county subscription
Of $4,000, to our road, together
with 100000, to the Henderson
Il Paris road was submitted by ,
large majority of the Court to :
vote of the people.
In compliance with AN order d
the Court, the Sheriff has advertised
and will hold an election on the 9Otl
of the present month. TO try TN,
sense of the people on the uucstio,
of subscription, or no subscription
from our information derived from
various sources, we think there is
probability of the subscriptio,
being carried; which will rive Won
road $50, 900 of the bonds OF Hcndcr
sou county, payable in twenty years
with interest ut eight per cent, t,
be paid scmi-annually in Memphi
or Lexington. With this amount
in addition to the sums already sui
scribcd by individuals alon
the line between Henderson am
Saltillo, we will be able to put tn
road under contract TO the Tenmcs
see river, 4 distance Of So or / mile
from Bolivar.
We would also call your attentio
10 the fact that by an order of YOU
Executive Committee a corps of en-
"inecrS were placed in the field OcI
- Qast monthly in charge of MI
Allen, for the purpose OF maxim
u survey through the counties Q
Wayne and Lawrence, COmmcnein
ut the river at Clifton, which ha
been run, ut the earnest solicitation
of the people of those counties, pre-
paratory to submitting propositio
for Il county subscription in cac
of them; and when they cOmplct
the survey TO Lawreuccburg, i
Lawrence county, they will, BY a
arrangement with prominent cit
ZCns of Giles and Lincoln, cOntinu
their work from said point Claw
renccburg) to Pulaski and FaycttC
Vile.
We have deferred running an
line for the present to Columbia, an
in truth, we should not have extend
ed our surveys cast of the river bu
for the libCrality of their citizen,
who paid for the same, and haviu
all necessary equipments, COnsisiiu
of n fine set OF instruments. tent,
tools, etc, the work was done for
moderate sum, rs will be seen in IL
count of Secretary and Treasurer.
Ii we obtain liberal county sui
scriptions from these counties,
will enable us to push our roa
across the river into them, whic
will give us n good business, as IA
country abounds in iron ore, hy
draulic cement rock, limcston,
marble and cedar timber. In antic
patton of the road, furnaces hav
been built and are now in activ
operation in Wayne and Levi
counties: while in Lawrence the
have iron works, and have also 81.
factories, one alone of which al
ready consumes six hundred bale
of cotton per annun. All this
doubtless, will give your road bust
ness enough to make it pay hand