The Daily Nashville true Whig. [volume] (Nashville, Tenn.) 1851-1855, 1855-10-10
~ We are indebted to the Hon. Ben. Ed
wards Grey for valuable Public Documents.
Louisville and Nashville Railroad.


ize the Directors to receive from the city of
Louisville any additional subscription of stock
which may be made by said city upon such
time as may be agreed upon. We are informed
that the question Of subscribing an additional
million will soon be submitted 10 the voters of
Louisville and that there is scarcely doubt
that it will be carried.
The road is now complete to Shepherdsville,
thirty miles this side OF Louisville. The anti
cipated subscription of Louisville, together with
the subscriptions OF Hardin and Hart counties,
il is supposed, will enable the Company to
pierce Muldraugh Hill, and bridge and grade
the road to Bowling Green. From Bowling
Green TO Nashville, az miles, the Company
have at command 5000, 900 in County Bonds,
a sum quite sufficient to grade and bridge that
part of the road, provided the Bonds can be
disposed of at reasonable rates. Tennessee
State aid will enable the Company to iron and
equip the 451 miles in Tennessee, provided the
Legislature will extend the time, and the Com
pany agree to accept it. The remaining dis
fail TO be provided with iron and equipments
Ms soon as the grade is completed; passing as it
does, through part of the best agricultural
country in Kentucky, connecting Nashville
with the centre of the Green River valley, and
thus supplying her with trade equal to that
of Middle Tennessee. But the 100000 in
Bonds mentioned above, is in the hands OF
Board of Directors, all of whom reside in Lou
isvile except the President, who lives but a
short distance on this SIDE single Director
residing in Nashville, and it remains to be seen
whether the Board thus constituted will make
such application of the means of this end of
the road in its speedy construction to Bowling
Green, as the best interest of this part of the
line demands. 1t will be seen by the following
resolutions, that the Board have determined
10 apply the means of the Southern end TO the
completion of the road between Nashville ard
Bowling Green; but how soon will it be done
is the question. We trust it will be done at
once, and not delayedRntil means are provided
for that part of the road from Bowling Green
to Louisville:
Resolved, That the General Assembly of Tennes
see be memorialized by the President and Directors
of this Company, TO pass act extending the time
granted TO this Company within which they may ac-
cent the State aid of Tennessee, and that said Gen
eral Assembly aud that of Kentucky, be also memo
riazed 10 pass such other amendments OF the char
ter as may be deemed proper.
The following resolution was offered by Eu
.o,, Tn
Resolred That in the construction OF branch
roads no part of the of the main stem arising
from subscriptions of stock thereto its credit in the
shape of companys bonds or otherwise, other than |
such bonds as may be secured alone by mortgage !
upon the branch for which they issued, shall be
applied thereto.
For which Hon. John L. Helm offered the follow
ing substitute, which was adopted by large una
jority:
Resolved, That the stockholders approve of the
action of the Board of Directors in their resolution
20 appropriate the means subscribed along the main
stem TO The completion OF the main road at the ear.
Hest possible day, and they further approve their
action in determining 10 appropriate the means at
the Southern end 10 the completion Of the road be-
tween Nashville and Bowling Green.
1t appears that the resolution offered by
Mr. Underwood, the Tennessee Director, did
not meet the appreciation Of the Stockholders.
Upon what grounds they failed to pass re-
solution so manifestly just is more than we
can see The resolution offered by Gov. Helm
as q substitute, seems to Us not to touch the
point involved in the resolution of Mr.. Under
wood. Gov Helms resolution provides that
the means subscribed along the main stem
should be applied thereto. The means consist
of County Bonds with which the subscriptions
have been paid. The credit of the Company,
however, is distinct thing. II is the Com
pany's credit that the resolution of Mr.. Under
wood designed to preserve for the use Of the
main stem, except so far as that credit Is
based upon branches, and that the credit of
branches alone should be applied to them. If
il is right TO resolve that the means Of the
main stem should be applied TO the respective
parts of the line in proportion to the amount
subscribed, it is equally just that the credit
given 10 the enterprise arising out of the sub
scriptions Of the Counties, should be used Tor
heir benefit alone, as well as their Bonds.
Il would be clearly unjust to this end Of the
inc TO use the company's credit In constructing
ranches, either in the direction Of Knoxville
n Memphis. Such branches have been pro-
ec,ed, and the Lebanon branch, pointing to-
ward Knoxville, has ls grade nearly complete,
NO will most probably, be finished next
pring.
The failure TO pass the resolution of Mr..
1.r,.,oa l. caIrnlstad 10 DrOduca a susDi- /
ION, TO say the least, that the company will
pply lie credit 10 Branch ROADS without dis
IL appears further that our Leg
lature is TO be memoralised 20 extend the
me Of acceptance of State aid, which expires
ext February. All we have to say at present
,fyisioiI. haboqEas Tfnnesseeto be wide awake