The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-04-01
A BIG DEAL.
The Tennessee Coal & Iron Company
Holds a Meeting in Nashville Today
and Tomorrow.
Some Important Changes Will Take
Place in the Company.
Col. Duncan Seems to Have the
Thing Under Control.
He Gives Very Free Interview to a
Staff Correspondent of The Appeal
Hewitt, Cooper and Those
People Are Not In.
From a stafr Correspondent Of The Appoal


lam NJ. Duncan, of this city, and his friends
have captured the Tennessee Coal, Iron e.
Railroad Company, hide, hair and tallow
to that extent the report published so ex.
tensiyely relating TO a change of ownership
of the property is true So far as can be
learned, the reports that Messrs. Hewitt
Cooper, Carnegie ct al, have gobbled the
property, are unfounded. The first result of
this scoop by Col, Duncan is seen in the sud
den change OF the stockholders meeting
from Tracy City to Nashville. / stumbled
upon this valuable information by mere ac-
cident. Under instructions from The APPEAL,
Twas making haste from Memphis TO Tracy
City, TO be on hand at the first sound OF the
bugle calling the rival factions to battle.
Faulty railway connections detained me at
Nashville, and while awaiting means TO pro-
coed to Tracy City was informed that IL
would be wild goose chase-the meeting
would be held at Nashville, the home OF Col.
Duncan, at same date.
II appears that the Tracy City meeting
was irregularly called, since Col. Duncan did
not authorize It, n prerogative that came
10 him rs the ruler Of the roost lie there.
fore changed II so far as the place was con-
cerned. Some of the stockholders have been
sent TO Tracy City TO take charge Of such Of
their brethrcnas may proceed to that place
In ignorance Of the change, II there should
be any found. The meeting will he called to
order here tomorrow, but will be adjourned
over to Tue day In order that no unpleasant
friction on account OF the misunderstanding
may occur
Col. Enoch Enslcy and Mr.. Sam Tate Jr.,
Of Memphis, are here to attend the meeting,
also Col. Napoleon Hill. Mr.. ]. c. Nicely
and Mr.. John D. Milburn, the other well
known Momphians interested In the valuable
property, have not yet appeared. Whether
they intend coming or not remains to be
seen. went in quest Of Colonel Enslcy
today 10 extract whatever information lac
possessed and would let out, but he had Sc.
cured himself In the house Of n friend
for dinner. / preferred to take
chances ON the Colonel because Of
his Memphis connection rather than Col. Dun
can. with whom had no acquaintance Tho
timdity was entirely removed when, accept.
Ing lIobson's choice, repaired to Col. Dun
cans elegant residence on Broad street. The
coined me within and his manner underwent
no change when the revelation struck him
that I was the duly accredited rcportorial
representative OF TnE MEMPHIS APPEAL
Without any undue ceremony, yet with
cordiality bcaming from every feature, the
magnatc said
81 I'm nothing but n plain business man,
not an expert In the realm OF prophecies,
and therefore perhaps had better not be In.
tcryicwcd. You see, our meeting will not
be held until tomorrow hence there Is
really nothing 10 say"
SJut are there not certain advanced
achievements; some foundation for the
numcrops reports which have been cxten.
siyely publishcdg' inquired the reporter
"My Judgment" insisted the Colonel. "is
that It's not proper that l should say any.
thing at this time more than that repre-.
sent large majority Of the stockholders Of the
company, and Il any change is made II will
be purely business matter, unmixol with
personalities ! am quite sure that as far a,
lam concerned and those | represent that
there Is no feeling whatever and a. the re-
ports A. 90 arrangement having been made
the company ] can only say that no such
understanding exists. I can sny further thai
the people In New York who have taken
pains 10 examine, are Of the opinion thai
this l. the largest aud most valuable com
bincd coal aud iron property In the world
aud the owners are dcsirous OF seeing I
managed In the most conservative manner
building up n large surplus making Il stronI
and reputable IN the highest degree. cai
tay TO you truthfully that there IS a growing
feeling that this section promises the grcaes
opportunities 10 young men aud the mos
thoughtful and conservative are advising
them to 10 South"
what docs Mr.. Inmnn think Of TN
changes sugEcsicdf'
II think he feels satisfied, and In connr
nation Of i'll will give you a slip siatlnI
what hc said 10 the public before I left New
York, which you eau publish II you desire.
Here Il the slip referred 10 by Mr.. Duncan
"Nt John II. inmnn. who has been eonnccte
with the Tennessee Coal. Iron a Railroad Con
pany since H. organization. says that having sol
aconsidcmblc part Of hls holding, Of that stock b
has sent IA his resignation % a director and do,
not desire re election. ~ he has bis hands full
uANI uuhlNNA ~ AhN tautt AhN w AHlhAh VI
properly IA In better condition than ever, ne Il
owenilrcly ircc Of debt. doing a largc buslns,,
and should, In his opinion. commence paying di'
idends by July !. His once stlll holds some 6.o
shares Of stock which they have no Intention
selling except At a considerable advance. lie b
iioycs the property will 20 Into conservative hand
and bc well managed"
II docs not require critical reading b.
tween the lines Of Mr.. Inman's announce
ment 10 see how ho has Jared In the al
with Col. Duncan. As a matter Of fact Nj
Inman aud his associates have been tryin
the game Of "frceze OUT on Col. Dunca
and bis friends for three year at each dci
Of the cards whereby the stock Of the con
pany has been deprecated In value. NJ
Inman has smiled and observed IN hlmscl
"that will fetch EN-" but somehow n
"fctch" didn't appear. Col. Dune an grnnt
and held on all the time. keeping mis- wcaih'
eye opened for every chance that appear,
toge' n and be has proceeded.
'liow does Col. Enoch Enslcy stand In