Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1860-07-26
Al sH WILLIE
rHURsDAY r1oRNING, July as. 1860.
tsOCIk CITY Mills.
RAILWAY MArrERS.
LOut.viIIe ana Nashville RaIIrOa

. = (3.afir Fxnress q A. n.
GBsEEELD AND KESTucKT-I0A. M.,7PM
Louisville ana Nashville Railroad.
Appended to recent pamphlet containing the
charter of the Louisville and Nashville Railroad us
a various amendments and the legislation of this
State having reference to it. the Louisville Jo@F''@
finds some interesting statistics and we have not
seen the pamphlet, we adopt the Journal summary.
At meeting of TIE Directors held last SPRING tue
following resolutions were adopted
solsi Tn, ne net earnings main stem and branches
applied to payment otinest and cen2sas S e s
until the 3lst Of August sS ana ne Interest and principal
ofhe funded debt Of the main stem an ~ m sinLin
fund ana Epps ar u the payment OF the interest," ana second
70 The payment OF the principal o. saia Ss % SsIS 00
applied payment Of such debts Of se cePzy a. sna
funded and full completion ana e41Pent o. te
road and Thereafter shall constitute fund oE dividends among
W r. M ,,roing resolution be laid before the
stockholders At her annual meeting for thar APPROVAL
6,so5Sd Tb, e he recommended counties
have to the main line ami branches ane paid
fund 70 redeem and not depend upon stock dVidends
1900 Tat the charter as amended and passed in the
States Kentucky and Tennessee with such acts and part. Of
acts ss ior@ gsr ~ M ma ~ 81 ~ NJ
the funded debt Of the company for the main
1Is ofAugust 1901 the resolution providing sink
ing interest and principal Of the fundd debt Of the
Weld net earnings suce0t to pay the S4OO sinking
fund aod six per cent divi tends on the stock.
TIE length Of the main line is lS5 miles, of the
Lebanon branch 374 and of tae Memphis branch
Az, being an aggregate of 27O miles. The fiscal
year ending August 81, 1850, says the Journal, will
exhibit the gross earnings of the hne and Leb-
anon branch about S64O,OOO, estimating them for
the last four months Of the year by the average of the
first eight which was about 81 $50 per mile per
mum. The first two months of the year there no
through connection Nashville the road was not
completed. 1t is expected the Memphis branch will
be completed to GAINESVILLE, Tenn. by October l.
and through to Memphis by the LIST March. When
this is completed the directors estimate the earnings
of the entire line for the fiscal year at $4,000
or $4,000 per mile per annum
The road has heretofore been operated for frAc-
tion less than one half the gross earnings and it
estimated that it may hereafter be operated for
half tie earnings and that the earnings of the fiscal
year 1850, '6l will prove that the proposed sinking
fund Of 100000 per ann be realized ont of
the earnings of the road The debt of the main line
is constituted as follows:
FIRST mortgage, percent bonds ....~- s2't9090o
Tennessee State aid cent bonds. 500
Last sub Louisville, 6 per cent bonds, the Company
Louisville city per bonds for Lebanon banch,
Sonpapy agree e 70 ~ ny
Floang and postponed $4,000
Mortgage per bonds Memphis brAneh.. 100000
sass 500
$4,000 Ofthe Lebanon branch debt has been paid
leaving the above balance. The road is not fully
ballasted all the bridges, water stations wood
houses, staton-houses &C., fully constructed, the
cost of which is estimated viii reach $4,000, and
there remain about $500 OOOo of the mortgage bonds
of the main line and of the counties not sold the
proceeds of which will mo. than pay therefor. The
100000 Memphis branch mortgage bonds are yet TO
be sold the proceeds of which will fully complete
and equip that branch and leave it with no other
debt The foregoing debt of the Company, after
the main line and both Of the branches are fully
completed and equipped, amounting to Sl,Gj5 600,
becomes due and payable nearly annually in various
sums for the ensuing thirty years. The proposed
sinking fund of 100000 per annum will be sufii-
cent pay the interest and principal of the debt in
the course Of thirty years. If the stockholders APP
prove the resolution of the board, proposing the
$500 600 sinking fund, and the earnings do not
coed the estimates, there may be but little for the
stockholders until after the debt shall be fully paid
but it is estimated there wdl be an increase in the
gross earnings of the road of least ten per cent
annually for the ensuing five years. The stock with
its interest accumulation will be about S4,9G0CO0.
The realization Of the estimated receipts for 1860
'Gl with ten per cent per aunum increase will yield
dividends 10 the stockholders of but little per
cent per annnm, but should the earnings equal
$4,000 per mile per annum, which is about what the
Louisville and Lexington road is yielding, there will
be an excess of about $4,000 per annum for the
stockholders, or dividends of nearly three per cent
per annum. 1t will require the gross earnings to
be 200 per mile per annum, on main line and
branches to raise the 100000 for the sinking fund
ami pay SIX per cent dividends TO the stockholders,
but this result should not be expected much short
of ten years.
The Directors wish the stockholders to under
stand that the foregoing is only estimate Of what
She earnings of the road will be upon proper man
agement and the increased business thatthe country
will furnish Many will think the estimate too low,
and others may think it than will be realized,
but it is submitted to the stockholders what may
reasonably be expected, which will enable them to
Judge of the value of the stock and what hay in
the future be realized fromit.
A TRIP Il. MAMMOTH CAyE-GRAxD UNION CoyvEN-
ToN oFTHE TEACHERS OF KENTUCKY, TENNESSEE, EDT-
ANA AND Omo.-The secretary of the Kentucky As
socation of Teachers Mr.. HoLYoKE. Of Louisville
has called upon US with request that we would in
tomeet the Associations Of our sister States in conven
ton at Bowling Green, the line of the Louisville
and Nashville Railroad.
Arrangements have been made for the reduction
of fare upon the Louisville and Nashville Railroad
one-half tickets to be countersigned by the secre
tary Of the convention.
Every accommodation will be offered by the citi-
Gems Of Bowling Green to those in attendance. The
r ~ H., NJ |
per diem.
Mr. HoIYoKEsleaves US 10 go to Mammoth Cave. to
make similar arrangements, that all may visit this
great wonder e the world under peculiarly favor
able auspices.
The Kentucky teachers are determined that no
pains shall be spared on their part, to make the trip
a happy t0their friends FROM abroad.
The teachers OF Ohio and Indiana also invited,
and large number of them have already promised
to attend Many of our own teachers absent, but
we hope that they viii arrange their return as to
make il coincide with the time of the convention,
which meets the morning of the third Tuesday ir
August.
Editors throughout ;hc State viii please call at
tent on TO the matter
RAIN! RArN!n~Aftcr a drought of almost unpres
cedented severity owing to the intense hot weather
for most of the time, which literally parched up
nearly everything IN the shape of garden vegetation
we were yesterday blessed with bountiful rain.
Ii commenced TO rain shortly after Y O'Clock, and
continued TO come down hard until nearly o'clock,
when it gradually slaCkencd off TO a pSttering rain,
and continued 10 fall IN that way for an hour or two
longer. This ram will be the making of thousands
upon thousands OF bushels Of corn in Hamilton
county which would have been hopelesslv lost had
the drought continued one week longer. We think
the rain was general Chattanooga Reflector J,ly
24M.
MAKING A PENNY-The Rev. JACOB ;. H,Epgy who
was recently executed for the murder of his wife,
wrote olt a confession before he was hung which
he confd.l to his father. \ letter of the 2Ol inst
saws Mr. HARDEN has sold this confession of his son