The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-12-11

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The gentlemen who went 10 Chicago
with power OF attorney TO sell the street
railroad system OF Memphis, returned yes
terday in excellent spirits, having accom-
plished all that was expected.
A Ledger reporter found Col. r. Dudley
Frayser at the Security Bank this forenoon.
The Colonel seemed to be in exceptionally
good humor
81 suppose you are smiling over the sue
cess OF your tripT ventured the reporter.
"Well, am quito satisfied with that, I"
replied the Memphis Jay Gould, ''but |
was just reading an editorial in TIE APP
PEAL, which is so unusual in its tone when
dealing with anything that our street rail-
road folks do or accomplish that do feel
pleased II not flattered. It is in good spirit
and will be appreciated by the capitalists
who are coming here as well MS ourselves.
We have not had cause TO complain OF any
too much fairness from that quarter for
some years past"
"Do, pray, what is it2 Let me see what
change has come over the spirit of the Old
Lady's dreams, and will publish il as a
curiosity"
Here il is, said the Colonel, pointing
TO the following article from Saturday
APPEAL
TnE APPEAL yesterday gave 10 the peo-
pie its exclusive information that the street
railway Of Memphis had been sold to a
Chicago syndicate. This morning il sub
mits volume OF corroborative iniorma-
ton. II is the biggest commercial sensa-
ton the city has ever known. There is
much in this matterto cause the people the
greatest qualification. Mr.. Napoleon Hill
looks at II in exactly the proper light when
he sees in the transaction the suspicious
sign Of the city's advancement. That
so much foreign capital should come TO
Memphis, in block, means that there is
more to follow Memphis il now surely
entering upon that period OF metropolitan
development which was the dream OF John
Overton. THE APPEAL Is glad that so
many OF the citizens OF Memphis have
been benefited by the deal, and it assures
the purchasers that they will find here q
cordial welcome and spirit OF encourage
ment. They have come 10 the very best
field OF enterprise in the South. II Is
needless 10 cite It's advantages 10 them,
for they have studied the field, and their
investment IL eloqucnto Of their conclusions.
In the highest degree IL is ilattering TO
Memphis. What the policy aud plans Of
the purchasers may be.is for the future TO
determine, but the public will give them
time and accord them generous consider
alton. And when the people arc re-
minded that the great bridge and the
Union Depot will soon be in course Of con-
struction, they will perceive in the situa-
q La. l.. +
merriment during the Christmas holidays.
That sounds all right" continued the
Colonel. I'VE have sold out 10 parties
who are able and willing TO put down a
cable line on Main street and 10 perfect the
horse car system all over the city. This we
were not able to do"
"When does the change go into efcct?"
"fhe stockholders will probably meet in
n day or two and legally raiify all that has
been done, and the Chicago syndicato will
take possession In the latter part OF jan
uary. Mr.. 4. H. Holmes, President Of the
Chicago City Cable Line aud Of the surface
roads, running altogether l,050 cars day,
is nj the head of the purchasing syndicate
His capital cannot be written with less than
seven figures, aud he has ample backing. |
have known him aud been In cores
pondence with him several years. Last
summer met him nj Washington, at the
American Street Hallway Association. He
was President and | was one OF the Vice
Presidents. Mr.. Holmes was here about
six weeks ago and made n thorough in
spcclion Of the system aud It's surround
ings. lie and his associates are pleased
with the prospects and situation Oi Mem
pitts and can perfect the street railway ser
vice to an extent that was beyond our
means
do You think, Coloncll that Mr..
Holmes will come here 10 liyc2"
81 10 not; but he will spend consider
able time here, aud his general manager
will come here 10 reside permanently"
so there will bo changes in manage
mcnt, will thcrcg'
yes ! imagine there will bc many
changes, II not a clean sweep"
"Do you aud Mr.. Barrett 20 out abso-
luicly2'
Absolutely. We will not retain dol.
lars stock or interest. have been re-
qucstcd 10 remain for time 10 help set
matters in motion. That il all. | do not
know how long that will last"
Would YOU mind telling how much
Won have made out oi this street railroad
busincss2" qucficd the reporter.
"My loving friend, there arc many re-
ports out about this. some Of them not
near the mark. have noticed that pco.
pie arr moro apt 10 tell what they have
made than what they have lost. and have
learned 10 keep quiet at both ends Of the
line. one Of the ancicnts made hcd.irl.
low of his horse, and when asked his rca-
son. said u was because the horse could
not talk"
what do you expect to do next,
Col0ncp'
u expect 10 engage permanently IN the
banking business, looking after special law
cases, and NJ the Same time look after my
plantation and few outside Interests"
'liow do YOU find the feeling Of the can.
iiali.is toward Mcmphisy'
They are generally iavorably disposed,
bat there i an undCrcurr,ut OF distfust as
"a thc Taxing District Government. An
impression los gone abroad that the au-
thoritics are disposed TO throttle or keep
out new enterprises. OF coursc We tried
90 cuunicuCl this M inf NJ We could con.
Hcicniiously. hut don't put me down as
against The Taxing District Government
. person can complain OF II without being
H. enemy
With this the interviewer discovered
That he WIS infringing on business
houm Of The banker and street railroad
mngnaic, and bowed himself out With