The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-03-16

Company Organizes and the Active
Work Will Follow Shortly.
Mr.. w. X. Crumpton, the widely known
railroad contractor of Chicago, arrived in
the city yesterday, accompanied by Judge
Hartman, Of the same city. and Maj. y.
NJ. Abbott, Of Abbott, Miss The gentle
men have been on tour Of inspection OF
the route OF the proposed Memphis, Ok
ford 4 Columbus railroad, and its exten-
sion from the latter point TO the coal and
iron fields Of Alabama, terminating at
Tuscaloosa. The Tennessee incorporators
were appraised OF their coming, and immc-
dately arranged for meeting to be held.
This was accomplished in the afternoon.
in the committeeman OF the Cotton
exchange. The following gentlemen were
present. Messrs. John W. billiard, J. T..
Fargason, Napoleon Hill, W. J. Crawford,
J. O. Nicely, Harry NJ. Hin, w u. Wilkcr-
son and r. NJ. Abbott. Mr.. CrImpton
and Judge Hartman were also present
On motion Of Mr.. J. &. Nicely Mr., John
W. billiard was called TO the chair, and
stated that the purpose waste organize the
company under the Tennessee charter.
On motion of Mr.. W. ]. Crawford, Mr..
W. ID. wilkerson was chosen secretary.
The business being thus brought before
the meeting, an organization was effected
by the unanimous selection OF MIR. John
W. billiard ms president. Mr.. wilkerson
WIS also elected secretary and treasurer,
by unanimous vote.
On further motion Il was ordered that
the capital stock Of the company be fixed
at $4,000; that subscription books be
opened, and that n committee OF three
be appointed by the chairman TO solicit
the said subscriptions.
Messrs. J. e.. Neely, ]. I. Fargason
and II. NJ. Hill were appointed to act in
conjunction with the citizens committee
heretofore appointed.
The regular business having thus been
disposed OF the meeting Of incorporatos
adjourned. subject TO call from the pres
idcnL
The conditions upon which subscrip-
tons are TO be made in Shelby county are
thus stipulated IN writing:
I. No part OF said subscriptions h 10
be paid under ninety days after said rail-
road shall have been completed and in OPP
Grafton from Memphis 90 Columbus
2. The subscriptions shall be paid in
three equal insiallmcnts, rs follows One
third in ninety days after completion
OF road, one-third in six months and the
remaining one-third in nine months.
.. Subscribers, when payments are
made, shall have the right TO elect 10 pay
their subscriptions In fun and receive
paid'up stock therefor, or may pay "a per
cent. Of same "A donation only.
4. The railroad line is 10 be located via
the towns Of Oxford, Houston, West Point
and 10 the city OF Columbus, Miss.
b. The presiding chancellor at Columbus
Is In determine when the railroad company
has complied with the contract, and the
money Is 10 be paid over.
From Columbus the road Is 10 be con-
linued on 10 Tuscaloosa, but this Is an en-
irely outside consideration, though as
nred beyond doubt. Tuscaloosa Ia about
lity miles southeast OF Columbus, and
thought 10 be the coming city Of Alabama.
II u thoroughly alive TO the enterprise,
and ON Monday last, In two houu, raised
~ 900, with a guarantee oil making IL
rlVttVN btiOfc neclt0.
Mr.. Crumpton was secn'be nm APPEAL
reporter after the meeting, and learned
from him an outline OF the business-like
way In which the road IN 10 be constructed.
lie has already signed conditional con.
tract, obligtting his construction company
10 begin work MS soon as tho bonus OF
800, 600 promised along the line from here
10 Columbus IN raised. This does not In.
clude the Tuscaloosa extension, for which
ample provisions have been assured. The
road will he LET 10 contractors In four sec
tons, oil Mt the same time, and completed
In twelve months alter the papers are
signed. Mr.. Crumpion says the road will
be an air line from here TO Columbus, and
through a country highly favorable 10 mil.
road building. The heaviest grade Il only
iorty-two feet 10 the mile, an almost NJ.
markable fact. Mr.. Crumpion and Judge
Hartman left last night for Chicago.
There Is no longer a doubt thai the Mem
phis, Oxford 4 Columbus road will be
built, extended through 10 Tuscaloosa, and
open UP a section OF country full Of the
most valuable rcsourcs. hitherto inaccess-
iblc 10 Memphis. II also gives the Iron
Mountain railroad southeastern extern
sion. placing u In position 10 compete more
successfully with The Netilcton system.
Mr.. Crumpton Is president and manager
oi the Southern Railway Construction and
Improvement company, and an expert
enccd railroad builder. Tho only work he
has 10 far done In the south was changing
the gauge Of the n. Louis, Arkansas 4
Texas railroad. Throughout Illinois, Iowa
aud Ohio he has figured conspicuously In
this line Of development.
Mai. .. NJ. Abbott, OF Abbott. Mis-.
who has been prime mover in project
ing the Memphis Oxioni 4 Columbus
railway, was next seen by the reporter.
Maj. Abbott v president Of the Mississippi
company, aud u generally regarded ~ the
one who will finally become president Of
the entire company, when consolidated.
In speaking OF the meeting the major said.
'Of course YOU understand thai this IL
only preliminary meeting; the intention
"a 10 rrt the company organiked all
along the line, gct all tho plans
under full headway, and then
consolidate under ono organization.
There II one phase ot the matter that |
hardly believe your people thoroughly un.
dcriand, that II the value III the section of
country through which the mad will run
10 this city. refer morc particularly 10
Tuscaloosa and the territory Immediately
surrounding u. Aside from IL resources
Ol coal aud iron, Il u rich ~ an nRricnlt.
ural country, and thickly settled With q
live, Intelligent and progressive class Of
people. II y now supplied principally
nom Louisville, New Orleans and Mobile
10 small extent. All that business can
ha aaatlV snuiN.ll.l L.. M......l.l.