Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1894-09-19
The &c Railroad Reorganization.

Inc people OF this section have for q
long time hoped to see some steps taken
to complete the Charleston, Cincinnati
and Chicago railroad.
Owing to the financial depression of
the last year, capitalists have hesitated
to advance the money to complete the
road, but the improved condition Of
the country and the outlook for better
times, in connection with the resources
to be developed along the line of this
road when completed, has induced the
Finance Company of Pennsylvania and
some strong Boston capitalists. pur-
chasers of the Sos and its franchises,
to consolidate and reorganize the lines
in South Carolina, North Carolina,
Tennessee, Virginia and Kentucky,
under the name of the Ohio River and
Charleston Railway Company.
The necessary papers were forwarded
on Monday to the Secretary of State at
Nashville, and the reorganization will
be completed at a meeting of the Stock
holders and Board of Directors in
johnson City, September 30, 1894, at
which time the various &C ctions in the
different States will be consolidated.
Tho following gentlemen represent
the Q organization as officers and
Directors Of the Ohio River and Charles.
ton Railway Company. Their names
and financial standing Is a guarantee
that steps will be takon at an early day
to push the road to completion.
President, Samuel Hunt, Cincinnati,
Ohio; Secretary and Treasurer, J. J.
Collier, Philadelphia, Pa; Directors,
John Goldthwait. Boston, Mass; George
Il. Earle, Jr., Philadelphia, Pa; Job
II. jackson, Wilmington, Del; A. +.
Freeman, Boston, Mass; John G.
Haynes, Boston, Mass; A. ]. Loeb,
Philadelphia, Pa; Robert N. Morse,
Boston, Mass; Simon A. Stern, Phila.
delphia, Pa, and s. j. Kirkpatrick,
Jonesboro, Tenn.
There is completed and in operation
now III miles Of the road from Cam,
den South Carolina to Marion North
Caroline, 80 miles in Tennessee and Q
miles in Kentucky, making in all 212
miles.
The new company will havs a capital
stock OF $16,O OO, 900 in shares Of 800
each, but the road will not be bonded
for over $25, 900 per mile.
Mr.. Hunt is we'll known as President
OF an important railroad in Ohio, and
Messrs. Earle is President and Stern
Secretary and Treasurer of the Finance
Company of Pennsylvania, while Mr..
Morse and associates of Boston are well
known capitalists.
We are not advised Of the plans OF
the reorganization further than dis
closed by the official papers from which
we obtained the above information but
the impression prevails that the road
will be completed to the coal fields in
Virginia without delay, and unfinished
links necessary to connect the roads
now completed will be pushed through
as rapidly as the financial condition OF
the country will justify.
Believing this information to be re.
liable and important, we congratulate
the people on the good news herein
contained, and while congratulating
Judge 8. J. Kirkpatrick on his selection
as the only Tennessee Director In thii
important enterprise, we must congratu.
late the gentlemen responsible for his
selection on their good judgment, and
their ability to secure the services OF
Junge Kirkpatrick, who has no SUI
perior in his profession In this part Of
the State. Hfs business and profes.
sional qualifications will make him an
important factor 10 the Board of Di.
rectors, which will be called on Ia
manage this enterprise.