The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1883-01-17


Southeastern seaboard. Reference
to railroad map viii show that
Louisville is well situated to become
the center of such d railroad system
as Is proposed. We already have
a valuable line. of road to Chicago,
with important terminal facilities in
that city. Cumberland Gap is con-
ceded to be the most available point
for crossing the mountain range
which separates Kentucky from the
Southeastern States. The Louis
vile Southern railroad projected
from this city in the direction OF
Cumberland Gap, appears to be a
certainty at least as far as Harrods-
burg, or some other point in that
vicinity.
Provided there is enterprise
enough beyond the mountains 10
bring a railroad that far North, the
way would be open for the Louis
vile Southern extension 10 Cumber-
land Gap. Then, the Louisville
Southern and the Louisville, New
Albany and Chicago interests, be-
ing already intimately connected,
could easily become an important
part of the system so long desired
by the Charleston people. If the
local interests we have named will
take time from a petty war with the
Louisville and Nashville system,
which neither helps the former nor
disturbs the latter, they might grow
into one of the greatest enterprises
in the South. Our present Southern
outlets tend toward the Gulf rather
than the Atlantic seaboard, and an
outlet In the latter direction would
add much TO the commercial import
ancc of Louisville.
And in the Chattanooga Times
we find the following:
Two mortgages on the Carolina,
Cumberland Gap and Chicago Rail
road, in favor Of the Farmers Loan
and Trust Railroad Company, OF
New York, have been filed in the
clerks office, in Anderson, South
Carolina. One is a first mort
gage, amounting to $4,000, 600, and
the other is an income mortgage,
amounting to 100000.
The instrument sets forth that
the Carolina, Cumberland Gap and
Chicago Railroad Company results
from a consolidation Of the follow
ing corporations The Atlantic end
French Broad Valley Railroad Com
pany, of North Carolina; the French
Broad and Atlantic Railway Com
prny, of South Carolina the Edge
field, Trenton, and Aiken Railroad
Company, of South Carolina the
MorristOwn and Carolina Railroad
Company, of Tennessee the Nor
ristown, Cumberland Gap-and Ohio
Railroad Company, of Tennessee.
The consolidated company proposes
to begin at Aiken, South Carolina,
or Augusta, Ga, and pursue North
by West direction, through the
States of South Carolina, Georgia,
North Carolina, Tennessee and
Kentucky, in a nearly direct line to
any trunk railroad in or near the
valley of the Ohio in Kentucky. a
distance of about four hundred
miles. In order to equip the line,
the company has resolved to issue
100000 900 first mortgage six per
cent. gold bonds of 81 ,OOg each. to
run thirty years, coupons to be paid
semi annually, and in order to Sc
cure said bonds, have given the
Farmers Loan and Trust Company
Of New Yo k, u mortgage of &c.,
J00, 900 on the right of way, road
bed, fixtures, rolling stock, &c, and
also a mortgage of 100000 on the
profits of the road The road win
prove OF incalculable value to this
State, and at the same time it would |
attain great importance in the car
wing of Western products to the !
markets of the world.
And in the Knoxville Chronicle |
his:
Judging from some outside in
we regard the speedy |
of this road az well nigh
certain. We have heard it said that
t is to be a narrow guage, but it
gems now that there is a good
of its being made a broad
suage. We hope soon TO see work
,egin on it in East Tennessee.