Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1881-02-23
Varied Specu'at,Ous as to Who Pur'
chased the Much Coveted Stock
Thought to Have been the L.. & Ms
Work. Az any Rate Against
McGhoe's System.

When the Crisis viii Come None can
Tell. but PrObab y Som.
Knoxville, especially In business
circles. was all agog yesterday on the
question of the movement and ex.
change of stock in the E.
T., V. & G. Railroad, which
has attracted SO much attention for
some days past. 1t was generally
known that the stock owned by JEFF
ferson county in the railroad was to
be put up at public auction, and inas~
much as there had been such wran-
gle bt tween Ger, ain parties, supposed
to represent the McGhee combination
and anti-McGhee or Louisville and
Nashville combination, for the possess
sion of this much coveted stock,
everybody was on the tip-toe of ex"
citement to see the result of the strug-
gle.
II has been published that the coun-
ty court Of Jefferson county, at a spe-
cial called meeting Monday, author
lied the chairman, J. nj. Ashmore,
Esq, to bring the stock here and put
it up for sale yesterday. The sale was
also advertised to take place at public
outcry, to the highest bidder, at l
O'Clock p. m. Esq. Ashmore arrived
on the noon train, attended by friends
and advisers, and after getting dinner
they consulted among themselves as to
the course to take.
Some time before the advertised
hour crowd began to gather in front
of the East Tennessee National Bank,
where the sale was to take place. Most
of them were simply interested as
spectat ,rs, very few as purchasers, but
all apparently equally interested. 1t
was near three-quarters of an hour
after time, however, before Esq. ASH
more and friends arrived with the
stock, and about this time Mr.. e. A.
Akers, the we'll known auctioneer,
made his appearance. The crowd now
began 10 close around, and Mr.. AXE
sale about to open.
Equire Ashmore drew from his
pocket the apparently insignificant
little Strap of paper about which there
was so much c)mmotioD. In the first
place, the official paper authorz ng the
sale was read by Capt. ID. II. Meek, of
cambridge. The stock is one of the
| original issue calling for $780, 900, being
$50 shares at 800 each.
Mr.. Akers then cried the stock. 1t
was started at ST. 60 on the dollar. by
was very soon raised by S. for bid
or two, then dwindling down to a
half bid till it reached ST. SS, at which
point there was dwell OF several min
Mr.. Walker, the starter. This closed
the sale.
There are varied speculst ons as to
who the purchaser is-for what COM
binstion the stock is taken.
Mr.. Walker is a young man of pleas.
ant appearances, and up to business.
He came from New York direct, ar
wing here and putting up st the La
mar House Mo 1day :morning. From
his inquiries and manners all day it
W - evident that he meant business,
and was bound to have the Jefferson
county ste ck, at almost any price. OF
course he is mum as to whom he
represents, and he was impervious to
an sttsmpted pumping" He claims,
that he was solicited only Saturday to
star for Knoxville and procure this
stock; also that the firm or company
for whom the purchase was
male directly, would net hold it
fifteen minutes; that it was only
speculation; also that he did not
re, ,lly know for what combi-
nation the stock was purchased. This
must be received for what 1t is worth,
however.
At any rate it is evident that the in
terest for which the purchase was
made is antagonistc to the McGhee-
Wilson interest, for the bidder against
Mr.. Walker WAS understood to be in
the McGhee- Wilson intere.t.
Yesterday being legal holiday and
the banks closed, the funds were not
paid over. but every thing will be ar
ranged this morning. In answer to
telegraphic announcement Of the pur-
chase, Mr. Walker received telegram
from A. n. Sherman, cashier of the
Gallatin bank of New York, author
izing him to draw on them for $50 0Oe
It was indeed a ten strike for Jeffsr-
son county, and her realizat on is $67,-
$50 90, which will pay her out of debt
and make her Fl inancials condition de.
cidedly above par. Great credit is due
to the county officials, and especially
Squire Ashmore for his action in toe.
for he has labored zealously to this
end.
We are glad to learn that a
number of our Jefferson county friends,
who had their interests pooled. realized
the same figures for their stock. This
figure, $1.SS, is the highest yet reals
lied for stock as far as is known, $l.70
having been received the day before