Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1881-08-27
THE CINCINNATI SOUTHERN.

THE CINCINNATI SOUTHERN.
What Bidders are Willing to Pay for 1t.
A press dispatch, dated Cincinnati
25th, says:
Bids for the lease of the Cincin-
natl Southern Railway were opened
at noon by the trustees in presence of
the bidders and others The full
board was present. The first bid
opened was from the Louisville and
Nashville Railroad Company, which
was represented by E. p. Alexander,
first vice.President, The bid was as
follows: For the first five years,
100000; for the second five years,
100000; for the third FIVE years,
SS00,OO0; for the fourth five years,
100000; for the fifth five years,
S1,000,0OO.
The second bid was from the Gin
cinnati Railroad Company, now oper-
ating the railroad. It was as follows:
For the first five years, $550O00; for
the second FIVE years, 100000; for
the third five years, S950,0OO; for the
fourth five years, $l,050,000; for the
fifth five years, 1850, 900.
The third bid was by W. Ell. Glenn
ents, G. ". West, W. J. Lippincott
and associates, who have been cons
nected with the Cincinnati Railroad
Company. They offer to pay an an
nuel rental of 100000 for the road,
and to pay during the whole period
25 per cent. of the gross receipts
over and above 100000 per an
mum.
The fourth bid was from r. G..
Huston & Co., representing several
Third street capitalists. 1t was as
follows: For the first five years,
S720,00O; for the second five years,
$4,000; for the third five years,
S96O,OUO for the fourth five years,
$1,120,000, and for the fifth five
years, 81, 100000
The fifth bid was from George F.
Doughty and associates, who repre-.
sent Cincinnati capital. Their bid
| was in three forms, of which the
trustees can take their choice. They
were as follows: First-For the
first five years, $747,O00; for the
second five years, $4,000; for the
third FIVE years, $1.000,0O0; for the
fourth five years, S1,100,0O0, and
for the fifth five years, $1,20O,000
Second-For the first FIVE years,
$606,000; for the second five years
S707, 900; for the third five years
100000; for the fourth five years
81, 100000; for the fifth five years
$1,500,00O. Third-For the first
five years, 100000; for the second
five years, 100000; for the thirc
five years, 81, 100000; for the fourth
five years, S1,3O0,000; for the fftl
five years, $1,500,O0O.
The sixth bid was from the Ala
bama Great Southern, represented
by John Scott, agent and genera
manager. 1t was as follows: eth,
proposition is not in exact accord
ance with the printed terms of tn
lease, but I trust it may prove &C
ceptable: Our proposition is tina
we accept your published statemen
of the requirements necessary to pu
the road in complete condition, til
extent of such capital to be mutual
! agreed upon. A to complete tn
road, B acquire present rolling stock
c machinery, stores, &c. That fror
the yearly net receipts sufficient
large amount shall be retained b,
the Alabama Great Sou hern Railroa
Company, to pay per cent. interes
upon the capital advanced upon a
per paragraph one, and that i
, addition thereto another and ful
Their amount shall be retaine
sufficiently to provide for a sinkin
fund which shall be adjusted yea
by year, and which wi
, repay during the operatio
of the lease the capital e,
pended. AS the capital employed i
, reduced by the operation of tn
yearly sinking fund, the amount Q
interest retained will be proportion
, ately decreased. We propose tina
the above shall be applied, subject t
| retention of 60 per cent. of th
| gross revenue by the Alabama Grea
Southern for working expenses. A
supplies and net earnings shall bt
} long to the lessons. At the expira
| ton of the lease the rolling stoc
A and all other plant shall revert t
L the lessons.
r "In connection with the above
: will state, if accepted, the action {
: my board is subject to the approx,
3 of the stockholders"
I The seventh bid was from Ere
9 Wolfe and associates, of New Yorl
, representing London, Englan,
4 syndicate. It was as follows: Fc
: the first five years, 100000 for tt
l second FIVE years, $500, 600; for Il
. third five years, 81, 100000 for th
| fourth FIVE years, 81, 100000; for til
7 fifth five years, 81, 100000.
The eighth bid was from James 4
. Clark and associates of this city, rel
( resenting Cincinnati capital. It pr