Weekly Clarksville chronicle. [volume] (Clarksville, Tenn.) 185?-1857, 1857-05-29
TERMS OF ADVERTISING
The Clarksyiiio Publishing Company
Chartered by the Legislature Of Tennessee.
TO THE STOCKHOLDERS OF THE
MEMPHIS, GAINESVILLE AND
LOUISVILLE RAIL ROAD. .i,s 1 .,

4 IOOlO llIltf1 .IAAll-AOAO.rfie 2 ~
According to usage and the require
ments of the Charter, the President and
Directors of the Memphis, Glarksville and
/ louisville Railroad Company submit the
following Report of the progress of the
Road for the last twelve months ~
1t Is known to you that at the close of
the last year contracts had been made with
Messrs Champlin, Holman & Co., for the
completion of 80 miles from section ] to
! 80 inclusiye--the 80 miles to be prepared
ready for the iron rails by the lst Of Jan
uary, 1858. The said firm, from their past
experience in building Railroads, gave
Hsttering promise Of the fulilmcnt Of their
contract without delay to the company,
but before being able to command, except
a small force, they found themselves em-
tbarrassedwith the all absorbing presidential
canvass, and were unable to induce the i'm
migration of laborcrs to our road Better
success was hoped for when that event
should have passed, bgt we regret that
after repeated efforts aud failures on their
part to assure the Board OF carrying out
their contract in due time by suitable
forces, the company deemed it best to can
eel the contract retaining such sub-con-
tractors as were then at work, and proceed.
| ing at once to close contracts with other
parties for such sections embraced in the
80 miles a. were not sublct. These matters
are alluded to as explanatory of our delays
during last summer. During the fall we
we're able TO close contracts with sundry,
parties, mainly in small sections, from to
{ miles, and are happy to say that we have
found il much tho most satisfactory and
reliable mode Of conducting contracts.
In the event OF small contractor fail.
ing to carry forward his contract il is easy
to supply his place. ,ts
f. Our contractors, so Ear, have erinced
fidelity and industry, and we are gratifed
toSay, the most amicable relations subsist
between the Board aud the contractors, and
ne have full confidence in the fulflmcnt of
thoir contracts f 81. ,- -...
|! In regard to the right of way, or land
damages, the Board have had good deal
Of trouble 1t is wholly impossible SO to
locate Road as not to approach and pass
through lands in such diagonal lines and
at such points as to greatly annoy the ow
nsrs of such lands. In some instances
we have amicably settled such damages, in
others, the question is still under process
| of adjustment, whilst in some others par
ties evince the kindest and most liberal
feeling towards the progress of Road,
! In the financial affairs of the Road we
have had good deal Of embarrassment by
the delinquency Of stockholders, and We
regret to say that in some instances we
/ have been compelled to coerce payment
legally, and other parties have claimed ex-
emption from paying their stock, because
the road was not located as they wished
Whilst we suggest the above as sources Of
trouble and disappointment to us, in re-
aliziug means TO meet debts to contractors
We wish to speak in high commendation of
many who promptly and cheerfully res
pond to our calls for stoek--thus encour-
aging us in our noble but arduous enter
prise.
/ Finding the home and foreign markets
glutted with Railroad securities, We were
forced to the novel cxpedient of selling at
! public auction, some of our county and
city bonds. We were gratiied at the sue.
cess Of that effort, and hope that whilst it
enabled the Board TO meet its obligations
to contractors; that it will prove proGta-
BILE investment to those who purchased the
bonds.
/ It is, we respectfully suggest, the man
ifest duty, and to the manifest interest of
ourselves, as community and the Road
TO buy up our bonds at home, whilst they
will only be bought at serious discount
abroad. Indeed the multiplicity Of Rail
road securities--such securities as ema-
nate from Roads, now running large por-
ton of their lines, and consequently hav-
ing incomes from their Roads; we say
these securities having such superior claims
on the market, ovor ours, render the sale
Of our bonds, abroad, almost impraotica-
bic; particularly whilst the spirit of spec
ulation in the pull lie lands, IS well as com
merce, and the great haste Of men to grow
rich by their wits, Is so rife in our whole
country. t
In regard 10 our connections with tbs
Memphis Road, we regret to say that Local
difficulties In Henry county, have hereto
fore prevented the Roads from connecting
But the President of the Memphis and D
Road, with others Of that Board, are Il
meet us here ON the 23d inst, when W,
hope to be able to settle the whole question
and either consolidate OF connect th'
Reads.
Our latest intelligence from the Ken
tucky end of the Road is to the effect tina
agents are now on the line Of the RoaC
nrocurinU tho rSht of Xgav and takinf