Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1854-01-06
THE MAILS.


1t is impossible to exaggerate the sad condition
of the eastern and western mail arrangements. We
have ceased to expect eastern papers in the regular
time. On Monday night last, we received three
papers only, one from Louisville, one from Cncin-
natl, and one from Cleveland These papers came
through in the regular time but they came alone.
We exchange with several other papers in Louis
vile and Cincinnati, which we should have received
at the same time, had contractors and postmasters
done their dlty.
On the other hand we receive our southern mail
with almost perfect regularity. New Orleans and
Charleston papers, which used to be from six days
TO six weeks on the road, now come through regu-
larly the former in five and half and the latter in
three days.
The railroad connection between this place and
Chattanooga will it is said, be completed within the
next week. We live in hope that the eastern mail
from Washington New York, &c, will then be
sent by that route, and that may then luxuriate
in the regular receipt Of our exchanges That hope
sustains us in our present mail Affections.
And this reminds US that the Post Office depart
ment has now, in the persons of ,. W. FoRD L. j.
Form, and ]. c. MCCARTY, three excellent mail
agents on the railroad to Chattanooga. TIE Messrs
Ford have printed newspapers themselves, and have
thus studied in the best of all schools for the edu-
cation of such officers. Mr.. McCARTY is an active
and intelligent gentleman who will do his part to
give regularity to the southern mail arrangement
THE LOUISVILLE AND NASHVILLE RAILROAD.
We find in the Louisville Courier of the I'd, a
communication from the President of this road
giving the history of the sale Of the companys first
mortgage bonds in London, in April last. As every
thing connected with this road must be of interest
large portion Of our readers we copy the Presi-
dents statement in full. In few days we are
promised from the same source an exposition of the
present position and future prospects of the road
In the month Of January, 1853, L. L Robinson
Chief Engineer of the company, was by order Of
the Board, sent TO London, with authority to ask
proposals from a firm of wealthy contractors resi-
ding in London, who had taken some interest in the
scheme of this company, had sent confidential
agent the line, and on whose reports encoura-
gng letters were written, inducing the mission On
the arrival of Mr. Robinson in London, on his first
interview with this London Company he was in
formed that the extent of engagements made by
the different partners of the company, not known
or understood by the party in America, had placed
it out of their power to take further contracts
The mission of Mr.. Robinson having thus failed
he, whilst in London, thought it advisable to look
into the Bond Market and finding an opportunity
TO place the first mortgage bonds Of this company
entered into an agreement with London House
on the 18th day OF March for the purchase of said
bonds, subject to he ratification of this company;
returning home about the middle Of April repor-
ted 70 the Board his proceedings in reference to his
mission, and the sale of the bonds Having failed
TO make contract for the construction of the road
it became necessary for this company to make such
contract before the sale Of the bonds could be rati-
fed for the reason that this company could not is
the amount of first mortgage bonds contracted
for, except III payment for the construction of the
road The proposal Of Messrs Morton Seymour &
Co, for the construction OF this road had been sub
mitted to await the result of the London mission
which having failed, was taken up on the 18th day
oil April Immediately after the return of Mr. Rob
inson from London,) and accepted Of in payment;
this company agreed to issue to said Morton Sew
mour d Co, their first mortgage bonds. thus pla-
cling this company in a condition to ratfy the sale
made by Mr.. Robinson. Immediate attention was
then given to the preparation of the bonds for the
engraver; also IN preparing the mortgage; to do
which, confidential adviser of the London house
residing in New York, had to be consulted also,
the sanction Of James Guthrie, Esq, Trustee for
the bond-holders, who was then in Washington
City, TO be obtained. The acceptance of the propo-
sal of Morton Seymour q Co, TO build the road
was made on the 18th of Apr, 1853. On the 10th
a contract was made with Mess s. Rawdon Wright
Hatch IL Edison, bank note engravers and printers
Cincinnati, Ohio, under penalty Of FIVE hundred
dollars, to have completed, and to deliver five hun
dred and fifty copies Of said mortgage bonds on or
before the first day Of June This company were
however, soon advised by the engravers that on
further examination Of the work to be executed
notwithstanding the aid they expected TO receive
from the East, 1t impossible TO meet their en-
gagement before the 18th Of june and that if the
forfeiture was to be exacted they would abandon
the work at once. The company at once saw it
would not do to 90 elsewhere; that greater delay
must be the consequence the work was therefore
permitted to progress and the bonds were accor-
dinghy delivered on the l2Ih day Of June It must
be borne in mind that these Were 30 year bonds
with 90 coupons to each bond and all the precau-
Hon OF engraving the name Of the Secretary Of the
company on the coupons was taken; vet these bonds
and coupons had TO he dated and numbered and
the bonds signed and countelsigned " the Pres-
dent and Secretary OF the company: and by in
structiOns from the purchasers in London received
as late June p had to be endorsed, with con-
vertibe clause, and signed by the President and
Secretary OF the company The mortgage to be
valid, had to be recorded in every county on the /
line of the roa J. in Kentucky ard Tennessee, and .
the certificate OF the Governor in each State OBJ /
tanned
These bonds were all prepared and executed ey- /,
pressed to London on the 2Sth day Of June 1888 /
"a period OF 10 days after the delivery from the .
engraver-they We're received in London on the |
2Sth day Of July following Having shown that
this company could not raufy the sal Of the bonds
until contract was made for the construction OF /
the road and that the contract was made at the
earliest day after the return OF Mr.. RobinSon-Say
on the 18th of April and that the bonds were con-
traced for and in the hands Of the engrayers on
the 10th day Of April, three days after; and that
they were received from the hands ofthe engravers
on the 18th day of June; | ask your correspondent
FROM Aa'dH County, and appeal to all concern
ed, here and elsewhere could these bonds-5OO in
number have passed through the necessary labor
oil execution IN a shorter period and be prepared
with the necessary records and certificates in Ken
lucky and Tennessee, IN less period than Is DAYS
say from the Eth day Of June, the day they
were received from the hands of the enorayers 10
the 2Sth ofthe same month, the day thry were ex
pressed to London? 1t may be asked why Ionger
day was not taken for the delivery of these bonds
In the absence OF the Agent, am ufabl, to raIIy.
but think it probable the day may have been re-
garded sufficient for the delivery; or it NAV have
been the longest day that could be obtained. il is
only for me to show that neglect nor derilection
of the duty is fairly chargeable to me- will only
add extract from letter ofthe House in London.
October lst 1858, on this subject: