Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1859-09-08
N. O. WALLACE, Editor.
FAYETTEVILLE, TENN:
Thursday Morning, Sept. s, 1859.
Shall Our Rail Road be Leased !


AT the meeting of Directors in
Nashville on Wednesday of last
week, Committee was appointed to
draft a proposition to be submitted
TO the Stockholders of the Winohes :
ter and Alabama Rail Road, setting
forth the conditions on which the
Nashville and Chattanooga Rail- Road
Company shall operate our Road, if
they take it. The following ale the
proposed terms of the transfer, and
the Stockholders of the Winchester
and Alabama Railroad aIe request.
ed to meet in this place on Monday,
September 10, 1859, to vote either
for or against their acceptance
WHEREAS, Somstime ago the Nash.
vile and Chattanooga Rail Road
Company made proposition to lease
the Winchester and Alabama Rail
Road upon certain conditions; AND
WHEREAS, The undersigned have
been appointed a Committee 20 pre-.
pare propositions in relation TO the
same with a view Of submitting the
same TO vote of the stockholders
in the Winchester and Alabama Rail
Road for their acceptation or rejec-
ton, beg leave to report The following:
First, Whether the stockholders
will consent to a lease of the Road
for ten yesrs, with the following coz
ditions and stipulations:
That the Nashville and Chatta.
nooga Rail Road Company, during
such time, shall furnish their own
Locomotives, Passenger Cars, Stock
and Freight Cars, and all necessary
rolling stock, for the purpose of car
ryiDg passengers and freight.
The Locomotives and Passenger
Cars to be as good as the first class
used or running Oh the Nashville
and Chattanooga Rail Road.
That one passenger train shall be
run at least once a day, from the
Nashville and Chattanooga Rail Road
to Fayetteville, or from Fayetteville
TO the Nashville and Chattanooga
Rail- Road and back, as they may see
proper.
That said Company at all times
furnish a a sufficieucy of freight cars
to carry off all the freight that may
be offered, in reasonable time.
That the Nashville and Chattanoo
ga Rail Road Company shall not charge
higher fare than is authorized by the
charter. and 20 additional charge
shall be made for reshippiDg at
Decherd.
The Nasty lie and Chattanooga
Rail Road Company shall be liable for
all damages to persons and property
in any way accruing Oh said Winebes-
ter and Alabama Rail Road. and as
sumo all responsibility therefor that
the Winchester and Alabama Rail
Road Company would have incurred
if running the same.
The Nashville and Chattanooga
Rail Road Company to pay all interest
upon bonds issued to Winchester and
Alabama Rail Road Company by the
State also pay all dues and forfeit
ures that may occur to the State; only,
however, while they run said road.
Said Company shall have the priv
ilege of using any surplus bonds
after the construction of the road that
may be on hand or due from the
State to the Winchester and Alabama
Rail Road Company, binding them
s elves to return their equivalent in
money six months before the expira-
ton OF the ten years. That equiva-
lent being the value Of the bonds in
market at the time of their issuance
Said Company shall keep the road
in good repair and running order,
aud at The expiration Of ten years,
return said road to Winchester and
Alabama Rail Road Company,in good
repair and running order; and should
there be any disagreement about the
condition of tho road at the end OF
the lease, the same is to be deter.
mined by two Engineers, selected one
by each Company. And should they |
disagree shall select an umpire, ana
The decision of the majority shall
settle the dispute, and The condition
Of the road shall be made to conform
10 their decision.
The Nashville and Chattanooga
Rail- Road Company TO keep the Wiz.