Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1881-11-19
The Memphis and Charleston.
Special dispatch TO the Constitution

HUNTSVILLE, Ala, November 16-The
convention of stockholders of the Memphis
and Charleston adjourned yesterday, and
the Louisville and Nashville parties and Nash
vile syndicate left for home soon after ad-
journment. Colonel Cole and friends re-
manned over until to-day, and left by trains
going to Chattanooga. Colonel Cole goes
from there 10 Selma, Ala, to meeting of
the stockholders of the Alabama Central
The officers of the road from Chattanooga
to Memphis are solid in their fidelity to the
Cole system.
The Office of secretary and treasurer was
offered by the new board to Mr. Breese,
the present secretary and treasurer of the
road but he declined it, prefering to hold
his Office under the lessees. There is not q
single instance on the whole line of want
of faith in the present management. The
people all along the line are earnest in their
desire to have the East Tennessee, Virginia
and Georgia Railroad continue the control
of the road.
A lawsuit still seems inevitable, as there
is no other way to test the questions at
| issue. General Hume, attorney of the road,
| who was present yesterday at the stock
holders convention, says he does not fear
| the issue, and that the lease will certainly
stand
| | said to Colonel Cole to-day
"You seemed to take no interest yester-
day in the election of directors in the Mem
| phis and Charleston Railroad. Why was
that ~
"Why should l, he replied have done
so? 1t was right and proper for the stock
holders to elect a board of directors to per-
petuate the organization of their company
1 1ar tln oh .zS.n hn
dent of the East Tennessee, Virginia and
Georgia Railroad Company. having lease
upon the road for sixteen years yet to run,
| to have Sauted proxies or to have entered
into any wrangie about the election of a
| board of directors under the circumstances,
would have been manifestly improper"
Have you any fears as to the result of
the threatened suit by them to annul the
lease if one should be brought"
when all the facts are brought out, how
the property has been brought up to its
present condition and the stock selling at
| eighty cents, from condition of almost
bankruptcy, both physical and financial, at
the time it was leased by the directors and
stockholders to the East Tennessee, Virginia
and Georgia Railroad Company, and the
regularity and the legality of the lease is
considered, / have no fears nor have my
lawyers, that any court Will interfere with
the lease, and expect to carry out the lease
in letter and spirit for the full unexpired
term, which is nearly sixteen years.
1t is not clearly understood who is back
ing the present movement to get control of
the road. 1t is deuied that the Louisville
and Nashville Railroad is interested in the
movement and it is asserted here that there
is syndicate in Nashville that have bought
Of fo,
lation and that it is their purpose TO force
by this movement the Cole-Seney syndicate
to pay par for this stock
As evidence of the fact that it is another
attempt TO scoop Colonel Cole, the same
parties are now on deck in this matter that
were in the scoop of the Nashville and
Chattanooga, and they are not friendly to
Colonel Cole. KP H
Death to rats and vermin, Parsons' Elk
kormiDator