Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1894-11-21

Jr, A.. r, Leah, Simon A. Sterne, j. j.
Collier, Philadelphia; John Goldth-
wait, John q. Haines, r.. NJ. Moss, A.
F. Freeman, Boston; Job H. jackson,
Wilmington, Del; Samuel Hunt, Gin
c%innati, and S. j. Kirkpatrick, Jones'
boro, Tennessee. These gentlemen rep
resent the purchasers of the road,
which was sold, part on May 10, 1892,
and the remainder May 2, 1898, and
ownership in the property will, for the
immediate future be represented by
preferred and common stock. This
means that the new company begins
business free of all misunderstanding
floating or bonded-and that what
ever fixed charges are to be incurr-
ed will be for future consideration.
The purchase money, We understand,
was raised in Boston and Philadelphia
two. thirds in the latter, one third in
the former. The details of the plans
for the company's future have not vet
been fully marked out, MOI will they
be until its new owners shall have had
opportunity Of examining the property
in which theirmoney is invested, which
will be within the mex week or ten
days, when they will make q tour of
inspection of the system. The Finance
Company of Pennsylvania and the In
vestment Company of Philadelphia,
which are largely interested in the
property, will be represented in the in
spection party. After it returns from
the inspection the owners will know
exactly what is needed, and immediate
steps toward completing the road and
arranging all other details fer its opera
ton will then be made. The compa-
ny's business is showing a steady i'm
provement. Prior to October /, 1893,
or before the representatives of the
bondholders assumed control of the
property, its operation had shown q
deficit of about $4,000 per annum;
since then, or for the year ended last
month, not only has the road earned
all its expenses and taxes, but u net
balance of about $4,000 in addition,
thus showing the wisdom of the bond
holders taking possession of the prop
erty. There is no section of the coun-
try that is slated for greater improve
ment than the South, and the Three
Cs," or as it is now known, the Ohio
River q Charleston, passes through a
territory which is already experiencing
Il steady development. The history Ct
the Three Cs" has not been q brilliant
one by any means, but it is safe to say
that its prospects have never been so
bright as at the present. 1t has 2l3 IS
miles of completed track, divided as
follows: Camden, South Carolina, to
Marion, North Carolina, 1884 miles;
Richardson, Kentucky, to Whitehouse,
Kentucky, $50 miles, and North Caro-.
lima State Line to Ellisons Mills, Tenn,
1884 miles. 1t remains for the new
company to connect these three divis.
lens and build such other extensions
as will enhance the value of the sys-
TEN and afford desirable outlets and
connections with other roads. The
Three Cs,' was chartered September
30, 1886, and the road as divided above
was put in operation in December, 1890.
In the same month a receiver was ap.
pointed in North and South Carolina
and Tennessee, and on February 20,
1891, in Kentucky. That portion of the
road in Tennessee was sold May 12.
1892, to satisfy contractors leins, and
was purchased for 5000, 600 by the re
organization committee. The rest OF
the property was sold on May 2, 1892.
and was also bought in for the com
mittee, to which Oh October /, 1893, the
entire property was transferred.-Phil
adelphia Stakeholder.