Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1890-03-26
WHO is IT'S cAND1DATEp


"The war is ended" they say! This
has reference tc the stock specula-
tions of the Tennessee Coal, Iron a.
Railroad Company. There is some
thing mysterious about the controv-
ersy that is said to have existed
between John Inman and Senator
Plat. 1t seems that John Inman
had the management Of this prop
erty, or so manipulated it as to great
ly increase its value and make quite
a handsome sum for himself and
friends. 1t did not please all of the
stockholders for Mr.. Inman to teath-
er his own. nest so literally. Senator
Plat and Gen. Alger became large
investors in the stock of this COM
pany. Mr.. Plat came to Tennessee
to inspect his property, and while
here was elected president of the
company. This was thought to be a
wise stroke of policy; that under
Mr.. Platt's management the COM
pany would start 0ut on new era OF
prosperity, and his connection with
1.-THE being leading Republican OF
New York and man of great
slgacity and financial ability-would
greatly strengthen the confidence of
Northern capitalists in Southern in
vestments.
The matter became the subject of
favorable discussion with the press of
the South, and from that very day
the stock commenced advancing.
When it got up to about sixty-five or
seventy Mr.. Plat was interviewed
on the subject. He said he was sorry
to see the rapid advance, that it was
not best for the company, though the
stock was actually worth 100 cents
on the dollar. This declaration,
instead of holding it down, had the
effect of sending the stock up faster
and it went to eighty-five. There
were many anxious buyers at that
figure, and no stock on the market;
all sold out that was for sale.
The next move suit was filed
against John Inman for a large sum
of money, which he was charged
with wrongfully obtaining while in
management of the property. Very
fhn Ctnnly M nnI Ina1inir1rp
and down she went to about fifty per
cent, losing all of the advance, and
no few Tennessee lambs went to the
slaughter. =. The next chapter relates
that Inman and Plat have made up
and kissed, swearing allegiance to
each other and to the company.
They both go in the market buying
stock to save the company, and hav-
ing pretty well loaded up with suffi-
cient stock to control the manage
ment, Tennessee Coal and Iron is on
the rise again, 1t is very clear that
Inman and Plat took in the stock at
the low figures, letting the boys out
with their margins all gone, but who
sold the stock in the first place at the
high figures snot stated. We pre-
sumo, however, that suckers will not
bite any more this spring.
All OF this is of no special concern
to the general public, but becomes an
interesting subject for the study of
those who were lett in the soup, and
they were nearly all Tennesseans.
At least no one has heard of any
great suffering on the part of Mr..
Plat and Mr.. Inman's New York
friends.
There is one question, however,
which does deeply concern the gen
eral public. What part is this great
corporation which holds the 1ennes-
see penitentiary lease going to take
in State politics this year, and who is
to be its candidate in the gubernato-
rial contest? The pcnitentiary ques-
ton will be live issue before the
next Legislature.