The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-22
PUSH CAMPAIGN
FOR SALE STOCK
KATE ADAMS
Committees Making Efforts to
Restore River Competition
and Thus Bring Back Old
Favorable Rates.

The campaign for the sale OF
stock in the Memphis and Arkansas
Packet company, which owns the
Kate Adams, will be pushed in a
systematic manner for the remainder
of the week and until the remaining
stock OF about $4,000, involving an
investment Of approximately $4,000.
is sold.
At meeting of those working in
the campaign the committees from
the various industries and civic clubs
were organized and sent on their
mission of selling stock.
The motive underlying the efforts
to retain the Kate Adams in the
home port is found in an effort to
restore competitive rates in freights,
which Memphis long enjoyed on ac-
count of the fact that 1t was located
on the banks of the Mississippi river
and enjoyed river rates.
Owing to the fact that shippers In
Memphis neglected the river for so
long that business by boat became
a negligible item, the competitive
rates have been ordered suspended
by the interstate commerce commits
sion. The new rates, supplanting the
competitive rates. will take effect on
Nov. Is, and there is no effort being
made to avoid the consequences of
these races at their inception. 1t Is
proposedS however. to build the river
trade up to the point where the inter-
state commerce commission will be
justified in restoring the competitive
rates. or the railroads will voluntarily
lower overland rates in competition
with the river.
Statements made at the meeting
showed that the advance In rates re-
sulting from the suspension of the
river competitive rates will range all
the way from % TO 100 per cent,
The average. based on the number of
classes, is 10 per cent, although this
is not an exact average. because
some classes will furnish more
freight than others.
This point Is being strongly
stressed by the committees which
are canvassing the business men of
the city In an effort to sell stock. 1t
is being further pointed out that
purchase of this stock is in no
measure philanthropic action, as
the boat is earning big dividends and
the price asked for the stock Is in
limo with its actual market value.
However, the purchaser Of stock has
the added incentive of helping to re-
store lower rates fog Memphis. which
Will not only help the city, but the
individual shipper as well.
II Is planned by leaders In the
river project to work toward the es-
of a big fleet Of boats |
to ply In the Memphis trade, imme- |
diately after the campaign to retain |
the Kate Adams Is completed. 1t is |
hoped to place two boats between |
Memphis and st. Louis; two between |
Memphis and Vicksburg and two be-
tween Memphis and New Orleans. |
Milton II. Hunt chairman OF the |
committee, stated Friday |
that he had received letters from |
Vickshurg and other towns along the |
river, announcing that those towns
would fall in line behind Memphis |
In its efforts to revive trade on the |
river In this connection the fact |
that Cincinnati interests arc entering |
a boat in the river trade received |
comment.
II was announced that two COM |
nittees from the Kiwanis and Lions
hubs and not affiliated with any of /
he industrial committees, would |
work In the campaign. These COM
nittees are:
Kiwanis--C W. Schley. Arthur
ialle, l.. J. Moss, Allan Fisher and
?, F. Crenshaw.
LionsmE; s Murphy, J. o, pwyer,
Wills, w, !. Moody. Walter Reinhart,
w. Smell, ], NJ. Summerfield. Max
"els aud w A, Woodmanseo