Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-12-30
THE KANSAS CITY
Railroad Company Makes Another As.
sessment on Its Stockholders i'm
Order the Better TO Push
The Work OF Completing the Work by
the 4th OF July Next-What is Being
Done All Along the Line.

| Charles Merriam, treasurer Of the Kansas
| City, Springfield and Memphis, has issued 3
circular 10 the holders of receipts for blocks
oil that roads securities, calling for fifteen
per cent. additional subscription toward the
construction of the line to Memphis The
causes necessitating these additional SUBJ
i scriptions are: Changes OF location for the
better alignment OF the road, which have in
| creased its length six miles, making a total
| OF 2sl miles from Springfield, Mo, to the
| Mississippi river, Instead OF 275 miles in
| cluded 10 the first estimate. The great food
| IN the Mississippi river and its tributaries,
which in 1882 overspresd to an nnprece-
| dented depth much of the low country in
| Arkansss, which have led the company to
raise the grade originally adopted in that
State, and to enlarge the bridges and cul-
| verts, all of which add 10 the cost, as origi-
nally estimated, but are designed TO insure
| the tracks and other property from any pos
| sible injury from a similar inundation. The
character of the work in Missouri and North
ern Arkansas having also proved more diff
cult and expensive III an WAS anticipated, and
the enlarged prospects of business to be
realized from connection with roads lead
| ing easterly from the city OF Memphis to-
| ward and reaching the seaboard, having in
duced the company to provide extensive
terminal facililies in Memphis, consisting of
depot grounds, four miles of tracks, build
ings, etc, and also ample facilities for cross
ing the river, thereby largely adding 10 the
original estimate. These Improvements and
better knowledge of the resources of the
country lead the company TO add twenty
per cent. to the estimate of earnings, which
should leave an ample margin over and
above the interest charge on the 81 600, 900
six percent. bonds. The work on the yari-
GUS sections of the road is 30 far advanced as
to leave no doubt of its icing opened by
June 80, 1888, in thoroughly built condI-
ton, and ready for IFS work; but it is pro-
posed to issue the bonds as soon az legally
practicable, and before the completion of
the road. Accordingly subscriptions TO the
additionsl 500 blocks of securities are Of
fered to the holders of receipts for blocks Ct
the Kansas City, Springfield and Memphis
Railroad Company of record OF December
%, 1882, until January 10, 1888, at o'clock
pm, upon the following terms: Each
holder of receipt for six blocks to have the
right 10 subscribe for one block, consisting of
$500 IN stock, to be psid for at par, $500;
and $4,000 OF the 6rst-mortgsge six-per-cent.
bonds at twenty five per cent. (bonds to bear
semI-snnusl iuterest), 5000; $500, costing In
caah $1,000. Subscriptions will be payable as
called for, upon at least ten days notice, by
the treasurer, but not more than twenty-five
per cent in any one month. No call will be
m ade before March, 1888. Interest on pay
msnis will be allowed at six per cent. per
annum until delivery of bonds. No interest
will be allowed on prepaymenis.
The Springfield Express Gays: "Track-lay-
ing on the Memphis extension of the Kansas
City, Springfield and Memphis railroad has
been completed to Willow Spring, Howell
county, ninety miles east of this city, and is
going vigorously forward, and adding 10 the
business of that end of the line now operated.
In the vincinity of Cabool Mr.. Joseph Fisher
has stacked up, ready for shipment, SOC, 900
feet of pine lumber, and Frank Kendall and
others about as much more, aud their saw
mills are kept constantly unDiDg. The lum-
Der business along the line il already devel-
oping into a mammoth industry, giving en-
ployment 10 thousands of laborers."