Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-05-08

Southern PACIFIC RAIL2OAD.-We have had lald /
urou our table, says the Memphis Bulletin the proof
slips of lor and interesting Report to The Stock
boIaars nv Dr. FowLKEs, the President Of the Old |
Company, giving long detailed, and very interest
- occount Of the settlement of the controversy |
b.,zoep the Oh and New Companies and full |
xbibit of The condition Of the affairs Of this great
oDtornrise We are rejoced TO learn from II, that
tho difficulties which b5set its path, growing out Of
The rival claims to the franchise granted BY the
safe Of Texas. and the necessities which were
,r.ssinr mon it from debt, have all been happily
and satisfactorily adjusted The interests of all
ar,ies have been satisfactorily combined and plan
Of opsra,isns projected which promises the haPPi-
est results.
The Report is too long for publication IN full IN
our columns. but the following statement will be Of
interest 10 all:
Summary S7slaent Of tie Condition Of Tie southern PG,
cine Ea7roaI Company, dLlsr atkiag Compromises az
NlT.ldH Zs-ris, Apfii o. 1859. s2.ooOoo
Tbis tenn includes stock issued to
scribers for cash and upon which install.
have beel paid, and also the stock
donated for services and accTu:ng interest
thereon. These figures are not given as
precisely correct, but are substantial
STOCK issued as collateral aesary for ,,oooo
eys borrowed loI the Company .....-- 47O'VOO
G. r.,,, Stock Liabilities ......-....... s3,7tOOOO
This liability it is nov proposed
duce and change in form and manner
ITloT tIe surrender to the Company Of
stock, upon which s. per shas been paid -
a BV foPleitsi Stock Stock, upon which about
M Sc 81 llss been foreei for non payment
cf subsequent calls and instalm'nts' ,,o
e about 6nymcnt d $40 oOo, being part Of
the 500 coo cash debt, and for which The
stoei Of the Company held as collateral o ,so ooo
serriy 10 the amount Of.....'.. f9U'OoV
sa9oo ono
4S Which 91' is to he reduced half loOOoO
,..-,,-u.,r ,o,i,v...............- siIOc,OOO
Cash Liability Of COMPANY "nen 'olnl'o $4,000
T Tiis i sas T includes The s3Oo0, for
he S4S0OOJ Of stock is hyputhecated
The figures are not presented as lII -
amount they substantially cor
7s 5s5 1 i;lSSSS5
AD,onnt Of Cash Liability converted into an oo
stock -...a...-..-. ...-.'....-.--.-'.... -
-, -, r,...u, ..........-......... i,2ioOOo
Sine The dat OF the c9upromise, AprlG,
- 1s5Q nd the present making mp OF this
ts,eS,,ent about sl4OOOO Of the $4,000
-Ssb liability above stated, has been ac-
tgaIly settlel and paid on the basis nov
Sl1a3 Tor tle liquidation oi the balance
r sto $40 5 6a0 Of ,Isbt vi by the issu.
go or AM equal amount Of the St0r& OF
sar mound Of is Cash Liability. Lesy. -
ing Cash Liability af present. about" ''OO e1O oOg
Total lisbitiC s....-'''..'' -'''''''-.
AssEJS.
o,rilssof unfinished road At SsS cooper c,-ooo
a,s Gus Acres Of Land, at 50 per acre,
IIlIUei by surveyor and locator al from - oao
$40 $40 1 per 1 aces e, and other property
he Company, yalasd at, snc worth Tue ,nooDa
.Ir, of ''''0'0 IN N
i,Sjrt state Liabilities. iOOO''O r,G m
ENress Of Assets Liaoiilties".-'-''"'"' ., a.,
The stock Of the Company, in its properly ana a 81 -tb
seen from foregoing statement anI ~ ;Tn,1use yu
Ssst1 on It's face value, without estimating The
ofths rights and franchises Of The COMPANY. -
mTHaU