Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-01-08
THE SELMA RAILROAD.

should be TO give promise OF econOmyi
snd the prompt enforcement Of the laws.
THE SELMA RAILROAD.
Many of our leading business men
are moving in regard TO the Memphis
aud Selma railroad. Their petition,
uumeIously signed, seems TO be care
fully prepared document. 1t is an
earnest and respectful appeal to the
quarterly court, now in session, TO take
action at once on this important ques-
ton, and We doubt not that body will give
it the consideration its importance de-
mands. The subscription of the county
10 this road was five hundred thousand
dollars, payable in five annual in
stallments. Two installments have
been paid. Much work has been done.
BY the terms of the county subscription,
it was stipulated that so much there Of
as was necessary should be applied to
the construction of that part of the road
within the county, and then the balance
10 the road at large. 1t appears that
those terms were not literally followed,
and that between forty and ninety thou
sand dollars of the county subscription
were expended on the road out of the
cgunty before that in the county was
completed. But isAlso appears that the
remaining instalments are far more
than adequate TO complete the work
within the county. 1t Is
insisted that this failure to
comply strictly with the contract
cannot possibly result in any loss to the
county, if SO much of the subscriptions
vet uupaid, as may be necessary, is ap-
nIied to complete the road in the coun-
ty;,ths,t as soon AS this is done, there will
he a Substantial compliance with the
contract: and that it then becomes
wholly i'm material whether the contract
was literally followed in this particular
ar not. 1t is also insisted that in order
70 attain this result, ii is only necessary
for the county court to appoint Its chair
man, its county attorney, and banker
and engineer of its own choosing, TO see
that no more Of the subscription is eX-
glended out of the county until the road
IL complete; or, if preferred, by the ROAD,
s-alisfactory guarantees be given for the
application of the subscription IN TINS
wy. If this course would secure a sub
staut.Nntial compliance with the con-
tract ard it seems TO US it WOULD then
We csnno,S see why it should not lie
adopted. As far rs we can judge II
yyould he at lea.t doubtful whether the
the county could now abandon this en-
terprise. and if l. cru Vi DO 80, we think II
would be- uqwise aud ,upolitic. Our
interest Is fLa sfH.,' tr0y. we nave al
ready two hundred thousand CollsIs IN
veste! W one doubts the Importance
0f the road. a single item in this coh-
nection will suffice: Holly Springs,
about fifty miles distant, has shipped
this season about p, 500 bales of cotton.
Memphis got only 800; the balance went
10 other markets. This is trade right at
our doors. The whole would have come
here with this road open. The prof
its in handling 800 bales of cotton
would be almost or quite one hundred
thousand dollars, sum equal to an
annual installment OF the county sub
scription. Shall we give up our money
invested? Shall We delay until the
roadbed washes away? Shall we delay
until interest eats up the company?
How long shall we lay out of the rich
trade Of a road that is to open up, by
the shortest route, regions rich in cotton
and coal, that only want the facilities TO
make them part Of our trade? These
are questions that st. Louis OF Louis
vile would not be slow in answering.
1t occurs TO Us that the policy is not
how 10 keep back, or destroy an enter
prise in which we have embarked, in
which we have invested large sum of
money, and which is of vital import
ance, but how TO make 1t succeed.
Ii i said by some that the road owes the
county S92 900. This, as we uDderst md
il. Is a clear mistake. The subscription
was 500, 900. TWo-fifths of this sum
have been paid. The balance IS 95OOi-
900. It is alleged that S92, 600 have
been expended contrary to the contract.
Grant il, this would still leave $780,
900 due on the subscription. But If We
understand the facts between forty and
ninety thousand dollars have been ex-
sended out OF the county before the
road within was finished. This creates
no debt to the county, nor can it
possibly result in injury to the county,
il so much of the remaining subscrip-
tion a. is necessary shall be applied to
finish the work within our borders. We
trust that tie petition of our business
men may receive the careful eonsidera-
zion OF the court, and that such steps
shall be promptly taken as will secure
an early completion Of the road, with
out loss TO The county.