Show buns high down ill tennessee MEET to protest against the sale of a railroad Eail road to english capitalists CITY teno may 7 special the stockholders of the tennessee coal iron and railroad Eail road company met here today to decide whether they will ratify a recent act of the of directors authorizing president T 0 platt to give an option on the companas comp anys property in to an engleh syndicate the proposed sale has raised a aberm amons ane stockholder and the meeting today is as waa anticipated characterized by indignation A a boon as the meeting had been called to order the secretary read a protest against the proposed sale on the ground that the property of the company lying in tennessee constitutes the more valuable division of its holdings and a sale of the same would utterly destroy the future efficiency of the company in this state and in a large measure its operation they also asserted that the bum of offered for the property wag inadequate the protest was signed by of the shares of capital stock president platt after the reading of the protest abated that last augusta I 1 W thomas of nashville representing a syndicate of english capitalists made a proposition to the directors of the company to purchase the tennessee division divi tion lor the proposition which waa submitted to the directors was referred to him with instructions to take whatever action he may deem best for the interests of the company he brought it to the consideration of some of the largest stockholders and they rejected it saie months later another english syndicate requested him for an option upon the tennessee division for about indicate agreed to pay for the bounded indebtedness debt edness of the company on the second mortgage bonds which were part of the proposed new bistue of and to biye in cah avith the concurrence of the director he ave the option on january 27 it expires on the of next september but as the syndicate had informed him that it la ready to purchase the property on the terms stated the sale would be if the stockholders approved of the conditions |