Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1881-05-29
The New Combination VIII Become &
Great Ower-Bringing for the
Wonderful Deyelopnl erts


Wonderful Deyelopne nts
Meeting Col c. M. McGhee on the street
yesterday, Just after his return from a bust
ness trip to Rome, Ga. where he had gone
to decide an important matter in reference
10 railroad connections at that point, he
assured us that the publications made i'll re-
gard to the plans of the new syndicate, who
now control the East Tennessee, Virginia
and Georgia, Knoxville and Ohio and Macon
and brunswick Railroads, were, in the
main, and IN all essential details, correct,
| and that ne felt that the change in the CON
| troll of the system of roads would greatly
facilitate the future growth of Knoxville,
and OF the entire section of country tribu-
tary to the East Tennessee Virginia and
/ Georgia Railroad and branches and the
Knoxville and Ohio Railroad.
That, in addition to the farmer stock
hol lers, most of whom retained an interest
in the new combination, Col. Cole had sue
ceaded in interesting in it q party of men
who had made a success of every
enterprise with which they had
ever been connected. Men of very
large means, great ability and extraordinary
| well-directed enterprise.
| Col. McGhee expressed himself as of the
opinion that management OF the E. T, Y. &
G. Railroad had in the past been, perhaps
too conservative, and had needed an infusion
of new blood" carrying with it the enter
prise which these gentlemen possess in al
eminent degree.
We then took occasion to inquire OF Col
McGhee what he meant, few days since,
when he said, "There will be no change in
the management"
| He replied that he meant by that merely
to allay any feeling of anxiety that might oc-
cur among the subordinates of the road,
| having present in his mind the fact that Col
| Cole was already president Of the E. f., Y.
j. G. Railroad and vice-president of the
| Memphis and Charleston Railroad, and is
now IN charge of the entire system; and
that he further meant that he himself would
remain as vice president, and thereby occu
Ply precisely the same relations tc
thes new syndicate that he haG
to the foImer management He
desired to say, however, that he NIGH
have stated that he had for the past two
years, contemplated, at some period in tn,
future, retirement from any official posi-
ton, and that he had virtually retired some
thing nearly year since from the active
management of roads, and that instead o.
the new combination entailing upon hin
greater responsibilities his very much les
sened interest pecuniariN, in the property
would no doubt result before a great Will!
in his entire retirement from official station
He SAID he was in full sympathy with tht
new syndicate, who control the property
and believed it would achieve one of The
grandest successes that had ever vet beer
inaugurated in the railroad history Of the
South, and had no doubt but that Col, Cole
who has returned from New York. will re
deem every promise he had made with refer
ence to the completion of the railroad from
Rome to Macon
Said Col. McGhee This is merely thu
beginning of the end, and yor
may look for results that will be gratifying
to all who are connected with, Or interested
IN, the future of this system of roads which
we are discussing, as it must soon become
/ one of the great railroad powers of the
south, giving large returns to those who
have embarked their capital in it, and af
fording increased facilities to the public"