Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-09-29

We have announced that this road vas scld undeu
execution TO Gen RICHARDSON, who bought it in for
the stockholders The Marshall (Te1ssl Repu5lieaa
of the 10th .sys the purchase rids the enterprise Of
the clogs aud disabilities TO its which exist
ed and which have suspended the progress of the
work. The Republican adds;
The adjustment of the diFicaltiss between what
is knoSn the sod Company, represented by DR..
Fowlkes, as President. ani tina New Company"
represented by l.. Z. Grant, President, are pro-
grsssiDg satisfactorily TO all parties Entire ana
nmity Of fesli5g and understanding exists, and in
| good faith The whole arrangements will be eonsum-
mated within the next day or 80.
| Dr. FOwlkes has made his payment as called for
under the eempromise of the 9Th Of April last aud
has deposited sufficient laeaus TO cover aud extin-
guish the entire Indebtedness Of the Ola Company
in Texas. He is actively engaged in settling all
and every transaction. open, uiquidaied or due,
not only under the compromise 5us outside of Il. He
seeks 10 free the company and has abundant means
TO do 50; and our people, the creditors and Claimants
are giving him every assistance in their power.
The State suit viii be dismissed and the fullest
sanction given to the efforts Of Dr. Fowlkes for the
freedom of the enterprise and the protection Of
stockholders of the road, which can be impaired BY
the laws Of the State Stockholders therefore, who
have contributed their means TO aid in the freedom
of the enterprise may rely upon full protection.
ed, to the satisfaction Of all parties union be-
tween this company and the El PaSO company win
he made. The interests Of all parties demand such
3 union, and therefore insure the result.
1t is intended, under Reorganization following
iusl settlement, to elect J. Edgar Thompson Pres
ideRt before DIR. Fowlkes leaves Texas; but he does
not accept until the settlements finally COM
peted. This can be speedily done. Dr. FOwlkes
believes that within thirty days from the time he
leave Texas be can meet the terms required by MIR.
Thompson. and secure his acceptance Of the Presi-
denoy. This will present new era in this enter
prise Mr.. Thompson has the reputation of being
the first railroad man in the Union He brings 70
the Company an enlarged experience, integrity
vigilance, and the confidence OF financial men.
Texas will present to him hearty and cordial vel
come, and facilitate him by all reasonable and pro-
per legislation. If possible, Mr.. Thompson will
visit Texas and present to the ensuing Legislature
such suggestions Of what notifications he deems
essential to this railroad improvement
DR.. FOwlkes, before he leaves here, win resume
the work upon the road, and complete at an early
day the next section of twenty five miles. We learn
that he has already purchased the iron, locomotive,
&C., for this portion Of the road.
With the dead weight cut of, the company free
from debt, and its property, at fair cash vsuston,
greater than the stock issued it will present field
for capital and enterprise such cannot be found
in any railroad enterprise in the world and for the
reason that there ia other public work possessed
Of such a muni6cent franchise and fair prospects
for future endowments
DR.. Fowlkes will shortly issue, we understand, an
address to the stockholders and the public, pre-
sentiug in detail the facts connected with the con-
dtion of the enterprise, its prospects, and what he
designs to accomplish.