Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1881-05-31

in Alaska seal fisheries. Col. Cole first
opened the matter to me Thursday
morning after the bank had opened "
How is it, then, that you went in SC
quickly ?"
Because of my confidence in Col
Cole. | have known him for years, and
have the most perfect confidence in his
ability, his integrity and his sagacitv.-
He told me that this was a safe in
vcstment, and that inclined me to it al
once. He had the subject we'll in hand
and in short time had convinced me
that 1t was such thing as could invest
in and recommend to my friends, OF
course we had the itemized earnings OF
the roads for past years before us end
knew what we were buying. But it was
my knowledge of Col. Coles character
and the confidence that knowledge gave
me that first led me into it,"
Everything must have moved pretty
rapidly?"
"On Thursday, as | say, the matter
was first brought to my attention. On
Saturday the money was paid to Mr..
Wilson, and four-fifths of the stock of
the East Tennessee g. Virginia system
and the Macon & Brunswick road actu-
ally purchased and the transfer of the
roads actually made. BY Monday at II
O'Clock the entire capital of the syndi-
cate-abOut sixteen million dollars-had
been subscribed, ana more could have
been placed If it had been thought best. ="
Now, just look at that moment, and
if the results are not wonderful, do not
know what is wonderful. A New York
man is approached by friend one morn
ing on the subject Of railroad purchase.
In forty-cight hours thereafter capital
of $4,000. 600 is made up and 300 miles
of railroad purchased. These roads lie
a thousand miles away from the purchas-
ers and involve the immediate outlay of
over $2.O00.000 in building connecting
roads, and only one man of all the pur-
chascrs-the 0ne who proposed the
schcmc-cver saw the roads that are to
be bought, or the territory through
which the roads are to be run. And yet
so thorough is the confidence in the
scheme, so high the character of the men
who make up the syndicate, and so thor
ough the confidence in the man who
proposed it, that after the books were
closed there were applications for stock
in the enterprise that would have, if en-
couraged, doubled the capital subscrib-
ed. The last thing did in New York
was to make an unsuccessful attempt to
get friend the privilege of taking n
thousand shares.
Now, what is it that Col. Cole intends
to do?
In the first place we will build the Ma
con-AtIanta extension. He tclegraphed
several days ago ordering that proposals
for the entire extension be advertised for
at once, and that the limit be put at so
days. This was in marked contrast to
Mr.. Wilson's advertisements for bids for
twenty miles and forty days time. The
steel rails for this extension have been
bought and the work will be pressed
with the utmost rapdity. 1t is the pur-
pose of Col. Cole to come direct to At
lanta. Col. Wilson had almost agreed
with President Phinzy, of the Georgia
road, for Covington connection, the
price having been agreed on t1id the
question of locating the depot being
about the only difference. Col. Cole
will certainly build direct line to At
lanta. 1t is quite probable, however,
that he will build n branch line from
Monticello, or thcreabouts, to connect
with the line from Athens towards So
cial Circle or COyingtOn. This branch
line is marked down on the map which
the syndicate figured.
In the next place the line from Allan
ta to Rome will be built, or rather IL will
be contracted simultaneously with the
Macon extension If the charter Of the
Macon & Brunswick road, as It is thought
TO be, Is sufficient charter for the cXtcn-
sion. II not, II will he contracted as soon
as n charter can be had in July, This
extension Is absolutely agreed upon and
will be built.
The connection between the Selma and
the Atlanta roads with the Memphis q
Charleston will not be made, rs was once
proposed, by building from Rome to
Chattanooga direct, but by building n
short line from the Selma road above
Dalton TO the East Tennessee & Virgin
In road above Chattanooga. This line
will be built near the apex Of the TRAN
gle made by these two roads, and will be
only clecvn miles long. II will cut off 3S
miles, and furnish abundant room for
transfers.
shall, as soon MS possible, give to the
Constitution n sketch of and interview
with Mr.. George |. Scncy, the famous
New York phianthropist, who has just
given 100000 to two Georgia colleges
who has IN the past year given to chari-
ties over $s00,000, and who, better than
all this, has set the example of n man
who can wear the flower Christian
manhood through the turmoil Of bust
ness, and carry It stainless and fresh to
the heights ofsuccess. II. W. G.
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