Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1881-05-07
YOUNGSTOWN. Tenn, May J..

| Liateu ana Agltated.
| YOUNGSTOWN, Tenn, May 5.
| MIR. EDITOR: 4 meeting of the stock
holders of the Morristown Cumberland Gap
and Ohio Railroad was held here yesterday,
the object of which was to elect board OF
directors. Judge Lane was called to the
chair and Capt. j. C. Hodge made sec
rotary.
Upon taking the chair Judge Lane, after
thanks for the compliment paid him, pro
ceeded to point out an erroneous impression
which had prevailed here to some extent
that whether the people of this vicinity took
lively interest IN the projected road or not
capitalists would come here and construct
the lie any way, because of its Importance
and necessity. He refuted this idea III
strong language. Unless the people here
were thoroughly in earnest about the mat
ter and took hold of it Themselves foreign
capital would be inclined to think something
must be wrong-that the people hereabouts
were not anxious to have the road. He
spoke very encouragingly of the project, and
was sure that the road would prove to be
success.
Mr.. A H. Gregg, noticing the presence
in the room of Colonel Charlton, OF Knox
vile, moved that he be invited to address
the meeting, which motion prevailed and
| the colonel, i'll short speech, informed the
meeting that he had Just returned from a trip
| through Granger and Claiborne countless
and had conversed with the citizens Of those
counties about the projected road to Cum
berland Gap and had fonnd some of them
quite sanguine, others very hopeful. and
few somewhat doubtful His opinion was
that the citizens of those counties would
enter heartily into the scheme as soon
as they were convinced the road would
be built. The colonels remarks were well
received.
When Colonel Charlton had finished
list of the stockholders of the road was
read and the amount subscribed The list
numbers about seventy, and the amount Of
stock exceeds little over 1913, 900, all cf
which was raised within the corporate
limits of Morristown. This amount of
stock is subject to 80 per cent call within
thirty days from organization of the board
of directors After this list had been read
an additional list representing slXty-two
shares (each share is $3.50, was called for
This subscription is not subject to assess
ment until the survey and grading of the
road has been made, and the question arose
as to whether the holders of this stock had
a right to vote in the election of the board
of directors. Considerable discussion and
confusion ensued, which soon ended, and
motion prevailed to go Immediately into an
election.
According to q resolution previously
adopted the board was to be composed Of
eleven membership from Hanblen, three
| (,TaIyD
counties. The following is the board:
HGmb5eT- Messrs. A. II. Gregg, c. D.
Merrett John Howell George Folsom, 0. c.
King, William Van Huss.
ClHj60rRe-Messrs. A. L. Snow, Thomas
D. Fulkerson, J. C. Rogers.
nger-Messrs. Jas. I. Shields, ThOs.
Tomlinson.
The meeting was adjourned after this
election
This morning the beard Of directors met
and the following officers of the MorristOwn.
Cumberland Gap and Ohio Railroad Com
pany were elected:
President, A II. Gregg; vice president,
o. c. King secretary, J. c. Hodge; treas
urer, R. E Rice
The people of Morristown are very much
. elated over their prospects, and speak very
confidently of their project. The survey of
| ANtsNe OWN
can be brought here. The estimated cost
of the survey is $4,000. [ have
talked with some of the officers and stock
holders and find them confident to enthusi-
asm. There is no doubt but the necessary
funds can be raised to complete the road at
} once. Mr. A. H. Gregg the president, tells
me there is no doubt whatever of its com
, pletion-that he knows of a company ready
5 and willing at any time, if need be, to take
the charter and push the road to compile
ton. The distance is forty miles, through
a rich country. There is near Cumberland
Gap an inexhaustible supply of coal, which
it is claimed, is of better quality than thai
= mined at Coal Greek OF Careyville, and also
:. plenty of iron ore of a very fine quality
l The road will pass directly through this Goa
r and iron region.
:. All the directors and officers Of this new
1 road are men of means, and stand yer.
g high in this locality. They are thorough
U in earnest in the matter. [ am lndebte'
particularly for courtesy and information t
o Mr.. Gregg, Mr. T. J. Russell and to Messra
8 Brown, Wells and Hoyt. ". d. U.