The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1873-12-12
PRESIDENTS ANNUAL REPORT.
To the stockholders of the Memphis
and Knoxville Railroad Company

Gentlemen sit is with pleasure, that
your President and Directors present this,
their second annual report, and and at .
the same time, congratulate you upon the |
prosperous condition Of your road.
In compliance with your instructions, |
at the last annual convention, (held Dec. |
9th, 1929 we have, under management |
of your then Chief Engineer, Capt. Thos. |
IL. MillingtOn, prneeedsd to locate aud
let ont contracts for the grading and pre-
pairing for cross ties Of your road bed
from Bolivar to Henderson Station on
| the Mobile and Ohio Railroad, distance
Of IS miles, with the exception of small
portion of light and uninportant work
/ that can be finished up when the heavier
work is nearer completion.
! We arc pleased to state that most of
said contracts were take by farmers and
Others, who work to pay their subscrip>
tions. The balance, say about one half,
! was let to be paid for in cash. All, or
nearly ali, of the contractors have works
/ cd with commendable zeal, and, had the
cash subscribers been as prompt to pay
| their money as the workers have been to
| do their part, the work would have pros
| crossed better; however, as it IL, about
one>third of said work has been finished
up, ready for the cross ties and iron, and
we will be excused, for particularizing Il
few who have acted most noblY in fore
warding the work, to aOit : William Rush,
Esq, (whO has finished up his second
cOntract,) JnO a. Rush, George Mailer,
w A. Mailer, Jno ScOggins, Perkins,
skinner & Co, Capt. u Voss, RowseY 81
Bulner, Dan Cement, Rogers & Simmons,
T jackson, L. V. Brooks, John Hud~
dleston, and E. HaltOm, all of whom have
quite or nearly finished up their CON
tracts. Then west Of EIatchie river we
will mention the irdefatigable John War
rem, who has pushed the work in Hatchic
bottom with such vigor, and who will
soon commence work on his second con-
tract through the farms of DR.. SherreH
and w. CasOn, Esq he having put force
on a portion of it.
Your attention is called to the report
of AR. 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 disbursed, to what
accounts, &c.
Your Secrctary's report shows amount
charged for Engineering amount for
grading, and incidental expenses, also
Salaries, clerk hire, dc. We will here
remark that every thing has been con
Quoted on the most economical plan pos
siblo, and we ask a comparison with any
company in existence.
We can truthfully state that the affairs
Of your company are In condition to
compare favorably with those of any
other, either north or south, and had it
not been for tho financial crash, which
/ lafn In tlo
work would have been pushed TO an early
completion, in spite of sOIae of your
number, in and about the town of Boli~
, var, who are withholding their subscrip-
tiOns and making it nee ssary for your
cCllectOr to press those who have never
failed (from a sense of duty and public
I enterprise to pay their calls. Had all
! promptly met the calls when due, and
helped our enterprise with proper spire
it, the earth work or grading would have
been finished from Bolivar to Henderson
Citation. As it is, we have thought best
7 to restrict your contractors to some ex-
3 tent, and keep the work within oul
) known ability to pay promptly, thus
) avoiding contracting debts, and better
( enabling us to prosecute our work with
8 economy.
4 It is proper for US to state that at tht
0 last October term of the Country Cour
5 Of Henderson county, Estimates of she
9 cost of the proposed lines having beer
Z made and filed, } proposition for eoun
6 ty subscription of 100000 90 to our road
+ together with SI00, 100000, to the HendeT
5 son {, Paris road was submitted by
9 large majority of the Court to a vote @
} the people.
8 In compliance with an order Of tn
3 Court, the Sheriff has advertised, an
% will hold an election on the 205h of tn
10 present month, co try the sense of TIA
people on the question of subscription
or no subscription; from our informatiO
derived from various sources, we thin
n there is a probability of tho subscriptiio
: being carried; which will give your roa
$4,000 of the bonds Of Henderson couT
D. ty, payable IN twenty years, with intere
Is at eight per cent, to be paid senIi-annU
ally in Memphis or Lexington. Wit
- this amount, in addition to the sums a
IS ready subscribed by individuals along tf
N line between Henderson and Saltillo, Y
al will be able to put the road under coi
10 tract to the Tennessee RIVER, distan'
If of 50 or miles from Bolivar.
20 We would also call your attention
n, the fact that by an Oader Of your Exec
:, tive Committee corps of engineers we
l.. placed in the field Oct. 18th (ast montl
=. in charge of Mr.. Allen, for the purpO
"A of making survey through the eouuti
%. of Wayne and Lawrence, commencing
.ss the river ut Clifton, which has been ru
= at the earnest solicitation of the peop
k of those counties, preparatory to submit
n, ting a proposition for a county subscri
he ton in each of them; and when tn
N. complete the survey to Lawrenceburg,
Lo Lawrence county, they will, by an a
ma rsngement with prominent citizens
bo Giles and Lincoln, continue their wo
from said point (I4awrenceburg) to P
laski and Fayetteville.
ice We have deferred running any line
the present to Columbia. and in truth,
-;u should not have extended our surTe
i; cast of the river but for the liberality
%, their citizens, who paid for the same, n
having all necessary equipments, consi!
an, ing of fine set of instruments, ter
- tnols, etc, the work was done for uzC
III crate sum, as will be seen in account
all Secretary and Treasurer.
If we obtain liberal county subscr
tions from these counties, it will ena
mn; US to push our road across the river il
On them, which viii give US O good busiue
inc as the country abounds in iron ore,
- drsuhC cement FsOk, limestone, mar
fcn and cedar timber. In anticipation of
a. road, furnaces have been bailt and
ono now in active operation in Wayne q
g. Lewis eouaties; while In Lawrence IL
. of pave iLo" To.N9' anu naFs also SIX iac
the IleS' ono $50 I-esIs I IIN 9iIe4uy {,
oily sseS GA an ~ 5 S,',Ps u s"ss LII
your road business enough to max
pay handsomely.
un. Recently, the question of letting
OF work from Bolivar to the Fayette cou
neg ,. line, in the direction of Somerville,
ing -.aft;o-. g 80 sc Mons. -,