I have had a long interview with Gen. Davidson and his associates of the Transcontinental Railway this afternoon. Judge Meyer representing the London Syndicate, was with Gen. Davidson. They assure me that their plans have about matured for closing the deal by which they will get the money to build the railroad. The substance of what they said is as follows:

The London Syndicate have had the enterprise thoroughly investigated. The feasibility of building the railroad and value of the railroad after built have been passed upon by experts in whom this syndicate has confidence. The assets of the Transcontinental are the aid that it expects to get from the State, the aid that it expects to get from various Counties and the advantages that this road will enjoy over other roads. They tell me that considering the whole line of the road the Counties and localities through which it passes have agreed to contribute on an average of five thousand dollars a mile. They expect to consolidate this road with what is known as the Oliver Road from Knoxville to Sevierville, Tenn., and with a short line running twenty-five miles out of Greensville, S.C. They say that taking away the convicts would seriously interfere with their plans and perhaps destroy the whole undertaking. I suggested to Gen. Davidson that he should appear before the Council of State. He said that he would do this. I do not know what the Prison Board has done, in fact I am no sure where the power rests to control the convicts that are now at work on the Pigeon River.

The building of this road would be of inestimable benefit to this whole section of the State. General Davidson, as you know, is a man of fine ability and a good business man. He says that he has great confidence in carrying through the enterprise. I never have had any confidence in it and do not now have any. I think that every dollar that the State has put in it is wasted. You gentlemen know the situation perhaps better than I do. I feel sure that you will act cautiously in just regard in the interest of the State and all parties concerned. I should exceedingly regret for the State to do anything that would interfere with a feasible proposition that would mean so much to the people of the State.

I write you the facts stated in this letter for your consideration.