Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-04-12
COMMUNICATION

tC0MNCN ICA ED.l
FRANKLIN, Co., April 9th. 1861 do not pro-
pose to discuss at length the questions raised By
another outsider in reference to the Nashville
and Chattanooga Railroad. but having examined
the question raised by him / propose TO state a
few facts
The point made by another outsider" is that
the rolling stock is being used other roads,
matter Of accommodation to those roads. and that
the stockholders are the sufferers.
Nothing is SO patent as the logic Of results.
This road made, as the report of Mr.. Burns shows.
during the first three months, under the present
organization $1,000. This is after paying all ex-
penses. Such work was never done on the road
before. In 1859 the nett earnings were $31s. 7g3
for the lrhoie pear. In 1880 the nett earnings
we're S33G,gsl
Under the present management the nett earn
ing for the first quarter nearly equal 10 a whole
years work. Ii the business keeps up, the road
will make during the year near Sl.OOO.6OO. Upon
these figures ought the stockholders 10 be alarm
ed by another outsider"
The country. and especially the stockholders,
ought to know some things that have not been
made public. When Mr.. Burns took charge of
the road, he found it without rolling stock, and
was compelled to make the heavy purchase from
the Government which he did. The rolling stock
South had suffered immensely, the loss being over
$4,000 as reported by a committee appointed to
investigate it. The accumulated and over due in
terest amounted to $45566l The outstanding
debt, which had been left unpaid from 1861.
amounted to over $4,000. The latter amount
had to be met and parties who held the bonds
became clamOrous for their interest Mr.. Burns
10 81,
York, and went on to do so. He found NGshrUe
parties-men from Nashville, there urging the
bond holders to sue out attachments against the
road-some were sued out, Mr.. B. quoted them
and notice for the holders Of coupons to come
forward TO one of the New York banks and get
their money.
By the time he got home a pressure had been
brought to bear. and the United States were in the
act Of taking possession Of the road, because the
earnings were taken TO pay interest instead of the
debt to the Government This matter is arrang-
ed by stopping the payment Of interest in New
York. and making a large payment to the Gov
eminent.
During all this time the President is beset by
the Chamber of Commerce and its members wri-
ting violent newspaper articles. and threatening
him with innumerable vexatious lawsuits; and for
what? Because it is said he has turned against
his own city and is helping strangers. For thirty
years Mr.. b. has been intimately identified with
Nashville. and all his interests and sympathies
there; but he has a duty to perform, which is
to save the road from bankruptcy. To commence
before pound Of freight could be moved-a
ebt of over 81 100000 had to be made 0utstand
ing past due liabilities amounted to nearly $780,
900. To carry this debt or provide for it was
immense work. There was but one way to get
along with it. If the immense produce of the West
could be carried over this road instead of going
to the Memphis and Charleston road and round by
water, or over routes further East the debt might
be managed and the road saved. Mr.. B. went to
work, and although he has carried all the freight
from Nashville-frOm eighty to one hundred car
loads per day-he has induced the freights of
other routes TO turn over his road. He has even
sent TO Georgia, and helped to move the
blockade from Chattanooga; and by interchange
of cars with the JOhnsohville road, large quanti
ties Of through freight have been carried the
road without relOading at Nashville. This is
done by a strict account between the two roads in
reference to the use of cars. and the same tariff
of freghts governs this through freight that does
the freight from Nashville.
Mr. Burns is moving heaven and earth to save
this road for the stockholders, and if let alone,
and reason and not madness prevails he will do
it. viii the stockholders sustain Mr.. Burns
None ofthem want to injure Nashville. but it is
absolutely certain the policy which the Chamber
of Commerce insist shall be pursued, while it
might give TIE commission merchant of Nash
Vile some commissions which he loses by the
the through freight system. would result in a sale
Of the road to pay debts.
If the immense through freights going from the
West to the South. can be carried over this road
it can pay the heavy debt hanging over it, other
wise it must fail. This freight cannot be brought
over this route if bulk has to be broken at Nash
vile. This is the rhole question and the stock
holders ought to understand it.
No one connected with this road can have any
but kind feelings towards the people of Nashville.
and nothing could be more pleasing to the stock
holders than TO favor Nashville merchants; but
at this critical time in the affairs of the road it
will not do for the President to let even sympa
thy for his own people control him in the dis
charge Of duty, by which the road is to be saved.
Many Of the roads in the country are failing.
but the Directors hope to save this road. and re-
store it to the stockholders free of debt with good
rolling stock. This, | am satisfied, is the highest
ambition of the President.
One word to the Chamber of Commerce If the
Nashville and Chattanooga road passes into the
hands Of Il United States officer he will be likely
to be more careful of your interest than Mr..
Burns? WAYsIDE SToCKHoLDER.