Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-07-15

RAILROAD MATTERS.
History OF the New Line from
Memphis 10 Louisville.
Oourier.Journal, 1Ith.

The completion of the Chesapeake
& Ohio road to Memphis, yesterday,
is an event of more than ordinary In
terest. Some years ago a plan was
formed to build road from Elizabeth
town to Paducah, receiving the active
assistance of the Louisville & Nash
vile Company. After some time the
Louisville & Nashville abandoned that
line, and instead secured line to
Memphis.
The business of the Louisville &
Nashville road during the years 1865
66-67 reached such large proportions
much delay in transportation oc.
Cured, and Louisville became clam
orous for another Southern outlet, the
project to build the Elizabethtown
& Paducah was revived, and the city
subscribed a million of dollars to the
stock of the company.
But Elizabethtown is some distance
from Louisville, and the only access
was by the Louisville & Nashville.
This was not satisfactory, and it was
determined to build an independent
line into Louisville. To this scheme
the city again, in 1873, made a sub
scription of 81 100000. At the same
time work was progressing on the
Memphis & Paducah line, and the
understanding was that Memphis &
Louisville would meet at Paducah.
The road from Louisville to Padu.
cab was completed, but the panic of
1873 proved disastrous to the enter
prise. Money to stock and equip the
road in a manner to enable it to do a
profitable business was not forthcom
ing, and in few years the road was
sold to satisfy the mortgage bond.
holders, and Louisville's $2,000000
disappeared.
The road was sold in two separate
sectiOns First that from Louisville
to Cecilia, the SHORT portion, and then
that running from Elizabethtown to
Paducah. The Louisville and Nash,
vile company, fortunately for the city
of Louisville, made the mistake Of
buying the Cecilia branch instead of
buying the line to Paducah. Any
one securing control Of the Z & P.
could force the l.. 4 N. to part with
the cecilia branch on reasonable
terms, or at no very great expense
parallel it into Louisville.
Before completing the road from
Paducah to Memphis tn, company
was bankrupt aud passed through
many yicissitudes.
As Mr.. Huntington pushed forward
his Chesapeake & Ohio, he began to
look to the South and the West for
other lines. He purchased from the
bondholders, at a low price, the road
running from Elizabethtown to Padu- |
cab, and he also, after some difficulty, !
obtained possession OF the uucompleted |
roads running south from Paducah |
and north from Memphis, with a miss.
ing link OF about forty miles. He then |
offered to purchase the Cecilia branch |
Of the Louisville & Nashville Com
pany. He finally secured a perpetual
lease, paying an annual rental of $50,
900, or six per cent on 81 100000 This
done, the roads between Louisville
and Memphis were consolidated into
one company under the name of the
Chesapeake, Ohio h Southwestern.
Work on the unfinished portion was
pushed as rapidly as circumstances
would permit, and yesterday the last
spike was diven, and the first train
passed over it to Memphis. After
many years the plan which has COST
two millions Of dollars Is
finished, apd though the city has no
bonds or stock to show for that large
expenditure, she has the road, and |
mus: feel that the money was not al |
Logsthep lost,
To Dir. Huntington and his fellow
labOrers the completion of this link in
the great trans.oontinental chain must
be especially gratifying. All that now
remains is to bridge the gap between
Memphis and Shreveport; and com.
pared with what has already been ac.
complished, this is insignificant,