Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-06-30
A GREAT SCHEME.
Organization Of the ssPeople's Railroad
Company Of America" with Tracks
to Extend from
Ocean to Ocean and from Gulf to Gulf,
Chicago to Be the Center of
the System.

IsDIANAPoLIs, June pa secret meeting
was held at Plymouth Hall last right in the
interest Of new railroad scheme of great
proportions, the substance OF which was Sc
foll1ws: Two deuble-trsck nsrrow-gauge
roads are to be built, traversing the country
in opposite directions from New York to San
Francisco and from Chicago 10 New Orleans,
or, as the circular states, From ocean to
ocean and from lake TO gulf.n Eight
series of stock, of S25,0O0,0OO each, are
to be irsued, and the bonded debt
on the double-.rsck road, properly equipped,
is to be but $4,000 to the mile, or single
track, $4,000. Indiana will be allowed bat
leo siecs holders, and the organizers of the
scheme say that seventy five of these stock
holders can be residents of Iniisnspolis.
TIE new company is 10 be known as
THE PEOPLES RAILROAD COMPANY OF
AMERICA"
Every employe Of the company is TO be
stakeholder, and the profits are to be divided
upon this basis II was stated last night tn at
California capitalists we're willing, to advance
the money TO get the colossal scheme in sc,-
i've operation. Seventeen stockholders in
the Peoples Railway of America met in
Plymouth church this morning to perfec, the
organic ation,which began last night. A Com
mIltee on Articles of Association submitted
report, and The articles were adopted.
They provide for over 1000 miles Of
narrow gauge road with a capital stock
OF S360000,000. The entire scheme is
somewhat in the nature of a mutual benefit
association. A national syndicate, with
headquarters in this city, is provided for,
composed OF $50 stockholders, the members
OF which are to be elected frou, the organized
boards of stockholders along the iues Of the
road. Up to this time here are eigh y-lhree
Subscribers to the stock, representing Sl12,-
600. So soon as s1OOO0,OOO is subscribed by
the people, California capitalists siand ready
to subscribe the balance, or such portion as
may be
REQUIRED TO BUILD THE ROAD.
The Indianapolis stockholders Dumber
forty-6ve, amoog whom sre the following
J. G. Shoemaker, E Ksunedy, ]. H. Stewart,
Myron w. Resd, J. 81. Rice, Fred Feener.
o her stockholders are G. A. Boughton, J as.
III. Bald, W. S. Rsycrait, OF Chicago; Jacob
Roberts, Of PnilsGelphia; David Parsons, oil
Detroit; E. Sweez', Il. J. Bone, of Cali.
fornia; w. 3 Hikes and r J. Breckenridge,
Of Louisville. 1t Is the purpose OF the Or
gan zers to build Iiua from SIN Francisco
to lad nspairi This aitsrdoon 3 'Commit.
ee % NoDiuations was sppoia:ed by dele
gate stockholders, aud in sccordsnce
with its report the following direct
ors Of the Peoples raiIway were elected
J c, Shoemaker, J. II r F, Enli Kennedy y,
# Indiana; G. A. Bough,np, of III nois; r.
J . Rreelaeslidge. Y & p .ke. n ". Nllsr n.
of Kentucky; c E Sweszy, Of California;
acob Roberts, Of PenBsylv ania; w. F. Lam
der, Of Massachusstts; G. NJ. Shredder, Henry
Tapsghen, of New Jersey, and David Par
sons, o Michigan. Engineers-H. J. Bone,
]. o. Baird, D. II. Pample. Surgeon, w. J.
Etstur, of Iodiaua The directors will elect
Eui Kennedy, of this city, president; J. H
Steward, Of the Indianapolis Bank Of Com.
merce, treasurer; auditor, Freemsn Wright,
of S. Louie.