Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1881-04-30

An Augusta, Ga, special to the Charles
ton News and Courier, under date of April
27, says:
The Augusta and Knoxville Railroad is
rapidly approaching the river, and trains
will cross the bridge into South Carolina
about the latter part of May. 1t is expected
that the road viii be in operation to Green
wood by the 1st of September. The direc-
tors have already received an offer for the
remaining 1920, 900 of bonds.
Louisville Courier-Journal Colonel Cole
is as busily engaged in building up railroads
as ever he was. He is now IN New York
looking after the interests of some of his
lines. 1t is surmised that he is anxious to
secure control of the Cincinnati Southern.
Colonel Cole is very reticent man, diff
cult to interview, but when he is comforta-
bly, seated in q Pullman sleeper he talks
more freely than elsewhere. On his way to
New York Tuesday, Colonel Cole talked
freely concerning railroads in the South,
and he spoke hopefully of their fu-
t11re. ''After the war" said Colonel,
Through no fault of the managers,
most of the Southern roads were ruined.
They had no rolling stock, no credit-noth-
ing much except their charters. The work
the difficulties great, but they have been
overcome. The L.. & n. suffered less
than others by the war, but more by the
panic yet to-day it is one of the best pieces
of railroad in the country. When l took
hold of the Nashville and Chattanooga the
stock was selling at Is, stock dividends had
several times been declared and the stock is
now in the neighborhood of IS. The E. T.,
v & G. Road has had similar experience
during the past year. We are steadily i'm
proving its road-bed, replacing iron with
steel rails increasing its rolling stock and
paying good dividends all the while. So
with the Memphis and Charleston that
property is steadily improving, and the
stock is advancing. We are using a gravel
ballast found in Mississippi, absolutely free
from dust, and it makes the best ballast in
the world
Referring to the recent combinations in
Georgia, Col. Cole said it had long been a
favorite idea with Mr.. Wadley, and steps
looking toward such combination were taken
before the purchase of the Nashville and
Chattanooga by the L. d N. He thought it
would result satisfactorily to all parties con-
cerned.
At knoxville, said Colonel Cole, we are
actively at work building a road to the Ken
! lucky line to meet the L. & N. We also
expect to reach Asheville, via MorristoWn,
/ by September, and so open a short route to
! that section of the coast country. This is
! Of interest to Louisville, but your city is III
! terested more in a Texas connection than III
anything else. There in the Southwest lies
an empire from which st. Louis excludes
both Memphis and Louisville. Your citi-
zens must give their earnest attention to this
matter. Shey should secure Texas con.
nectiOn, and secure it now.
Concerning the future of railroads, Colone
Cole said their prosperity depended on the
prosperity of the country. Railroad com
panies should concern themselves less abou
the price of stock in Wall street and more
about improving their physical condition
increasing their earnings and decreasing
their expenses. The danger is. the boon
has made money easy, and managers are ap
to give less attention to expenses than the,
did when times were hard. Expense
should be watched at all points.
When asked if he wished to secure tn
Cincinnati Southern, Colonel Cole was non
committal. He said he was not very hope
full concerning its earning capacities
any rate he would rather understand some
thing more about the size of the elephan
before he purchased.
CHICAGO, April 28.-Colonel Fred Gran
viii leave here to-day with his family fo
New York, where he goes to assume tn
presidency of the Texas Western Narrow
Guage Railroad This is projected fror
Houston to Preside del Norte, distance c
$50 miles, but only ~ miles-from Housto
to Patterson-is completed and in operation
The new company expects to build an
equip 100 miles before the close of the pres
ent year