Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1883-04-09
v. K. STEVENSON.
Sketch Of the Pioneer Railroad
Builder in Tennessee.
His Faith in Tennessee's Future
Proposes 80 Build Blast
Furnaces.
Special Cor. Nashville American.

AQl - AL&aLs .&AkAAA1 II ANSN. - AAaN
on the cars last night from Nashville
to this city, in. company, with Colonel
Stevenson, brought back 9 good pspy
"reminiscences OF interest Vde trst
time the writer ever saw Colonel
Stevenson was in 1S45, and from that
day to the present l have regarded
him as the most remarkable combina-
ton of intellectual force and driving
power the State has had. But for his
energy the Nashville and Chattanooga
railroad would not have been built.
At that time the discovery had not
been made Of building railroads with
out money. Even State aid, simple
thing as that was when discovered,
had not been found out; and the SIM
pie minded people actually we're un-
able to devise any plan for building
the road except by first going to work
and raising the money. After all
the wind work had been done, and the
charter obtained, Colonel Stevenson
left his store and undertook the work
of raising the money. The writer was
teaching school in a remote part of
Franklin county, through which coun
ty it was thought the road might run;
as it had not been decided definitely
whether the road would run by VIM
chester or Manchester, and so Col.
Stevenson canvassed both counties
Franklin and Coffee, and stimulated
the people of each by showing not only
the beue6ts that would be derived,
but the modification of being beaten
by the other. The road had to be
built almost entirely by having people
along the line subscribe fer the stock,
and this Col. Stevenson accomplished,
not by going to the county towns and
making speeches, as some OF our lead
ing men are usually willing to do: but
he started out ffem Nashville on horse
back, and for months he canyassed
the entire country from Nashville to
Chattanooga. He vent into every
neighborhood. He put up with the
farmers. He made the personal ao-
Quaintance Of every man of influence
in every county through which it
was supposed the road would run. he
went from house to house, stayed all
night, talked railroad to the people,
visited public gatherings, made a
speech whenever he could get few
men together, and at the end Of q
long and labori0us canvass, he had
every man on the entire line, of in
huence and means, as stakeholder
and at work for the road. Not one
man in twenty had ever seen rail
road; but few had read much about
them. The whole scheme was novel,
and under the inspiration of Colonel
Stevenson. who was full Of magnet
ism-a first rate talker--a man of
good address and pleasing manners,
the whole country talked of nothing
else until the road was completed.
When finished, Colonel Stevenson
was the President, and remained the
President until the close Of the war.
1t has been said and believed that
when he went to New York he had
large means; but from running
conversation with him last night,
as to his Investments and business
in New York, l am sure at tie
close of the war he owed as
much money as he was worth, having
collected his own debts in Confederate
money, but leaving his own heavy,lia.
bilities unpaid. Going to New York,
his great sagacity in all business mat
ters enabled him to see and compre-
bend 1.-THE situation. He has done
large amount of trading, mostly In
real estate, never trading in stocks
except ito buy outright. Ho has
Stunned the almost universal practice
of buying on margin. He has only
bought stocks when he was able to
buy always on his judgment, and al
ways held them till he made money.
His great field has been real estate
buying and holding His Investments
were not large at frst-indeed very
slDall-but as he steadily made money
it was put in real estate and never
making bad trade. One of his last
trades, made two years ago, the pur-
chase of well chosen lot and putting
well planned building on it, upon an
investment of $3.50, 0O0, he is offered a
profit OF halt a million.
The matter of most interest to your
readers about Colonel Stevenson is
that he has decided, in connection
with few friends who rely upon his
judgment, if he can see the way to be
supplied with coke, to build in Ten.
nessee two large iron furnaces. Fol-
several years Colonel Stevenson has
beer, with his usual care and sagacity
looking into the iron making cuisines.
in Tennessee and has invested a large
amount in the iron ore. He has made
himself quite familiar with Tennes.
sees resources and opportunities, and
especially has he kept up with the
history and results OF the blast fur.
naces now in operation. He fully
realizes what some men Of means viii
never see-that in our coal, iron ore
and limestone in close proximity, We
have untold wealth. He not only
realizes it in theory, but he has def
nitely made up his mind to invest I
large amount Of money in blast fur.
naces.
He has authorized the writer to "a,
that he is willing to pay good pric,
for coke, and that as soon as contrac
can be made for the coke he will Gem
mence work.
| Nov, we only need a few men Xix,
Stevenson to put money in the bust
ness Of making iron in Tennessee il
addition to what Mr.. Warner and
few Others are doing, to put the dow
trodden and much abused old Stat
where we will be independent, for,
capital and enterprise for a short time
are well directed in Tennessee in de
veloping our hidden wealth, none
will how in instead Of flowing out, an,
when this change comes Tennessee