The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-07-12

Yesterday morning Messrs, John Il,
Goodwin, IL. ]. Crawford and Harry NJ
Hill circulated an hour or two with the
following paper;
MEMPHIS, OXFORD COLUMBUS RAILWAY
COMPANY.
We, the Undersigned, agree TO subscribe,
and do hereby subscribe, for the number
OF shares OF 500 each, in the capital stock
OF the Memphis, Oxford 4 Columbus
Railway company, set opposite our names
respectively, which said several subscrp.
tons are to be paid in the following man
ner and upon the following conditions
only, towit:
l. No part Of said subscriptions are to
he paid until ninety days after said rail
road shall have been completed and in
operation from Memphis, Tenn, to the
city OF Tuscaloosa, Ala.
2. Said subscriptions shall be paid in
three equal instalments, as follows, to-
wit One-third, ninety days after said
road shall have been completed TO Tusca-
loosa, Ala, as provided first above; the
second payment, in six months from com.
plctiOn of said road; and the third and
last installment, In nine months from the
completion OF said road.
3. The subscribers hereto, their heirs
or assigns, when said payments are made,
shall have the right TO elect TO pay either
the full amount OF their subscriptions, for
which they arc to receive ut time OF said
payments, fully paid up worcestershire
stock, or they may pay 40 per cent. OF
said payments, rs same fall due, on their
said subscriptions, which latter payment
Of rs per cent. shall be received Ms dona-
ton 10 said company only, and for which
no stock is to be- issued.
4. said railway line is TO bc located and
built via the town Of Oxford, in the coun.
~ Of Lafayette and State of Mississippi,
the town Of Houston, in Chickasaw coun-
", Miss, West Point, in Clay county,
Miss, and Columbus, Miss, to Tuscaloosa,
Ala.
.. The presiding chancellor OF the chan.
Gerry court OF Columbus, Miss, when said
road is completed, shall, by his certificate.
determine the question Of said completion.
which certificate shall be binding upon the
Subscribers hereto.
q. II Is contemplated by the said Mem.
phis, Oxford & Columbus Railway COM
pany, TO which this subscription is made
(said company being the one organized
under charter granted in TENNESSEE, "a
consolidate with another company OF same
name, now organized in tho State Of Mis-
sippi, and with a company in the state OF
Alabama. Now, IL is agreed that said
consultations, when made, shall in no
wise impair this subscription, or in any
way relieve the subscribers, their heirs or
assigns, from n compliance with this con.
tract. Said companies 80 consolidated,
upon carrying out the above contract and
agrccmcnt. TO DO entitled 10 all the pay
mcnts, rights and obligations herein above
created, rs II they were originally con-
tractcd with.
TIIE RESULT.
Without much effort and less cxpccla.
ton ~ u starter, the gentlemen secured
subscriptions 10 the amount 81 $4,000
To add TO their encouragement all the sub
scribcs instructed the committee 10 call
ON them, II necessary, and the respective
sums would bo doubled This doesn't
look ~ though Memphis WAS going back
on her pledge 10 the people Of Mississippi.
who have voted every dollar asked OF them
by the projectors, aud that, too, on the
promises Of this city. The committee will
make a thorough canvas, and no doubt
the money will bc promptly subscribed.