Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-04-14
Nashvime ana Northwestern RailrOad-

Nashville and Northwestern Railroad
Proposed subscription by the City.
At the meeting Of the Board OF Aldermen on
Tuesday night Mr.. Hamilton from the joint special
committee to whom was referred the petition Of
about seventeen hundred Of the voters of the city,
together with that Of the President and Directors of
the Company, asking that a proposition for a sub
scriptiOn To the stock Of the Nashville aud North
western R4ilsead be submitted to the legal voters of
the city made the following report.
To TIE Citg Couaca Of 8aaAeie Committee whom
referred the application Of the Nashville nd Northwestern
the city, with Instructions investigate condition pros
ec Of the road aud the result to body respect
Wohave depend great the officers of the
TSsa i9 inmat9n touching ITS estimated cost ane me means
10 furnish with al their command We have had before
COL Stevenson Of the the Railroad Com
r Of the September, 1857, and to the Committee
pany, made B. Douglas ocole 3d. 1855, while he acting
The Companys Secretary aud Treasurer We also Intercepted
Col Stevenson under oath relation to the various matters be
fore We also aye ourselves Of the Information contained
in the papers Of pending the Chancey Court at
pend hereto such documents will throw most light on the sub
ect and proceed TO state the result Of our investigations
CosT RoAD-The written statements which we have
had before have all been less unsatisfactory in not
being entirely full The estimate Of the Chief Engineer in 1857
states the for graduation ties Sls46 The
estimate OF Col Stevenson to the Railroad Commissioner Of the
stltin septmer leo4 placed the cost and out al
which Col stevenson contains The estimated cost OF the
statement
February % l5s at S4 600 exclusive OF the tennessee river
bridge By with Becker Rust the Company agreed
e45s7 500 To arrive at soa1on we put the verbal question
to Col Stevenson, how much the road could built and fitted
25OOO, including the work already DONE and report
MANS CosPAST.On this head have had st more
the stock subscriptions Carroll Benton, Humphreys portion
Of Dickson and possibly portion Of Cheaham eopnies were
and the fact Of tSe suit between tho Company and Davidson
Of the counties between the Company and its stochd
make But assuming that viii be constructed, If at
all, the Huntingdon Southern have the total
amount Of stock per list made by the committee from replies
Stevenson, to be S9OU2g9 81 This includes all
taken the Southern Of every kind What proportion OF
ts amount mas ren oectel aha USED We cannot pIecsey
state But Col Stevenson informed that considerably
S4o1O had been expended N work done On s1s road engineer
tI - $3.50 - ~ q I5 stnc,r - c5Tsr cest Of coi
ecOns nsoTeaes &c He also states the present indebted
ness OF the Company above means in hand 10 BE about SeOe
AMOUNT Of fI stocE sgi.rbed 5000 800 81
Deduct amount collected and paid for
DsdD'; S;e ;ss e T. F.5 cen, on $3.50,
Deduct debt over present means in
hand, lso19 % oo-
Balance Of stock means. ... s295, $50 %
Should the Davidson county Bonds be
by sIJ6OO discount sale Of Bonds If there
should be We take the above amount however, as that
which the Company mas 70 prosecute the work at once
balance sheet furnished y Mr. Douglas former Secretary
Company, dated hast October would indicate
that the Company had used pretty much its entire means Col
impeached the Of this paper, however, and
having declined before The Committee in
person, defend explain his statement, 70 give
information the Committee have chosen TO make no further
reference 10 il.
II Company shall succeed in complying with the conditions
granting State aid and receive it, it will be SOOO
for bridges The other aid Of $1,000 mile is estimated for
49, miles, in Col seyens0ns statement 10 the Railroad Com
the and for l67 miles in hs statement to the
In All the Compauys estimates Of means TO carry
enterprise they include SlOdOOj Of Second Mortgage
Bonds which the Company empowered by the Legislature TO
which Directors have authorized 10 he
these Bonds have been issued Sold and mas
credit Of the road und have sort
knowing how far they be made available in the
have thought oper not to include
consideration of the OF the Company
aid might also he placed in the categ but as
dependent only the condition Of obtaining
The road the resources OF the
rold. SUITE aid incluaed.