Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-01-13

Nashville and Chattanooga Railroad Comoouy the
1 privilege Of running arm from Stevenson OF
Bridgeport cut 10 Jasper. The eitize1s Of the Sc
aua chle Valley cane forward and proposed ii the
COMPANY would permit their subscriptions for thar
| purpose TO come in IS stock in the Nashville and
/ 6hattaaoega r ilroad Company, that they wo, II
build this arr thas opening up means Of egrees (
the products of the fertile soil Of the Sequatchie
| Valley. We deemed the advantages to be gained by
the road and your city in the adoption OF this proI
ositou 10 be Of great Importance. The proposition
Was adopted with but few objections
There were some manifestations of dissatisfaction
upon the part Of some Stockholders at not being the
recipients of dividends from the stock in the Com
pany, and resolution was adopted by the Stock
holders appointing committee Of three to invests
gate the management of the Companies affairs from
| the beginning to the present time.
There were other matters considered by the meet
ing of Stockholders but of sufficient interest TO
| demand y notice here
We csuuot, however, close our report without al
ling your attention to two facts which We regard IS
being Of great importance to the interests of your
city, and demand some action upon your part The
frat Is that the city Of Charleston Owls 5000
of stock in the Nashville and Chattanooga RailrOsd
COMPANY and elects two Directors and then her
STOCK is permitted be voted in the election Of the
other fifteen Directors; Georgia Railroad Company
owns SIS 600 in said Company, and is permitted to
select one Director and then vote her stock for the
other fifteen Directors; while your city is only per-
mitted 10 take her position in voting ia the ratio of
other Stockholders thus giving the stock owned by
! these foreign corporations the advantage Of three
DIRECTORS ,ver all other Stockholders This Excess
sVe Representation of stock is, in cur opinion,
just and ir the recent election effctually controlled
The result different from the wishes of majority Of
the remaining Stockholders. The second fact is,
that six Of the Directors elected at the recent meet
ing resigned the office of Director the following
day. Il, perhaps would not be improper 10 say that
they were Messrs. Ewing Fogg, Morgan, Knowles,
Lea, and Rutledga, learning this important interest
Of the city sndits citizens in their iOdividua cspae
~, in the hands of nine non residents and three
residents of your city. Il is not province 10
know or if we did know report to you the causes
that induced this apparently revolutionary course
upon the part of the gentlemen, the most of whom
we're elected by the unanimous vote of the Stock
bolders but do think the great interest your city
has in the results of said Company demands that |
you and the public should be advised in this regard
With these suggestions, close our report, which
is most respectfully submitted,
S. N. HoLISGswoRTH,
B. S. RHEA.
On motion of Mr.. Fisher, the report was received, !
and that part of it which refers the inequality of
representation, referred to committee of three
cons sting of Messrs. HOllingswOrth, Hamilton and
Cox, with instructions to examine into the subject
and submit such recommendations in be premises
to The Board IS they may tOink proper and exDe-
dent.
On molten of Mr.. Cheatham, the rule was suspen-
died. and the bill create the Office of civil engineer
and surveyor was taken up, and passed on Two read
ings.
Mr.. Anderson moved to strike out 81 500 and
insert $3.50 the salary allowed that officer which
motion was rejected.
And then the bill passed on its third and last
reading, by the iOllOsing vote
Ayes-Messr.. Cheslham, Hamilton, Fisher May +
field, Cox, and Hollingsworth-6.
No-Mr. Auderson-l.
On motion of Mr.. Cheatham. the police bill was
taken up, aud after considerable discussion, the
second report of the committee of conference was
iu by vote OF 4tO 3, on division.
A resolution from the Common Council instruct
ing the Committee Gas to inquire into the expe-
diency of erecting two more gas posts Gay
street between Summer and Spruce was taken up and
concurred in.
Dir. Fisher presented Till to remit the taxes on
the Honse of Industry and to allow that institution
the use of water during the year 1859 free of
charge, which was passed on its first reading.
Mr.. Hamilton submitted a contract between the
Mayor and Drs. Martin s AtchisOn, in which the
latter agree to g,e medical attention and advice to
corporation patients during the presently earfor $780,
payable in taxes, for ratification by the City Council
which concurred in by the Beard.
Mr. Hamilton submitted resolution iDstrueting the
Committee on Streets to grade alley recently opened
between Cedar and Gay streets, lin the of the
Theatre as soon the chairman of the committee
was satisfied that the property hOl chad executed
the proper deeds for the ground thus ceded to the
city.
The resolution was, on motion, referred to the
Committee on Streets.
Mr.. Cox submitted a resolution instrueting the
Comm ttee on streets TO protect in be ter manner
the large water pipe laid down on High street,
which was adopted.
The Board then adjourned to Thursday evening
att o'clock.