The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-04-09
The E., H. & N. Z. R.-Gen. Boyle In
HenderSOn-An EXPLANATION. !, .

HendersOn-An Explanation. n
We learn than Gen. J. T. BOYLE,
President, and E. G. SEBREE, Esq,
one of the leading Directors of the.
E., FL. 4 N. Railroad, and General
CHEATHAM, of Nashville. are now In
Henderson comforting with the City
Council and the citizens Of that place
on the subject. of the proposed Road.
We learn that as yet no great progress
had been made in reconciling the diff
ferences existing between the Direc-
tory and the Council. The first ordi-
nance which was published in the
Henderson papers last week, and the
substance of which we stated in the
JOURNAL of Wednesday, was repealed
and another passed by the Council,
embodying a proposition more favor
able to the Railroad Company. But
we are informed that this was not ac-
cepted or approved by the Directors;
and so far we have heard of no agree
ment.
We were assured last week that it
was the desire and intention of Gen
eral BOYLE to visit Evansville and
confer,with our authorities and citi-
zens on this subject; and we suppose
he may be expected here within a day
or two, if it is the design of the Di-
rectors to make an application to this
city for subscription of stock.
In this connection we would state
that we have received letter, delayed
by the mail, from HARVEY YEAMAN,
ESQ.,, of Henderson, in which he states
that the report in the JOURNAL of
the conference held between the Com
mittee of that city and the Council
and citizens of Evansville, was in the
main correct, and presented fair
statement of the situation of affairs.
On one point, however, he thinks our
report to be properly understood,
should be more fully explained. 1t
will be remembered that we stated that
there. were outstanding $4,000 of
bonds of the old Ell. & N. Compa-
ny; and partly as an indemnity against
| them the new stockholders in the 4.
III. &. N Company were to be given,
in proportion to their subscription,
20 per cent of the capitalized stock Of
the Company fixed by the appraise-
meut of the value of the old road bed
&c. Mr.. YEAMAN's letter was moi
written for publication, but as il
states the matter as clearly and
concisely as we can do it, he will par
don US for making the following ex-
tract:
The facts are these: The Henderson
Nashville Railroad Co., in or about In
wear 1854. issued $50 bonds OF 81 900 each
secured by mortgage on the road, am
known as first mortgage bonds" OF thes
bonds about 72O passed into the hands Q
the creditors OF the company; the re
mainder were retained by the company.
1t is known who are the holders of thes
bonds. except 100 of them, as l now re
1 member the record. The bondholdei
whose names were known were Joined a
. plaintiffs in the suit in the Christian Circu
Court, and they were made to sue, as we
i, for the benefit of the bond holders who's
, | names were not known, as for themselves
and the Judgment of the Court was
framed as to secure the rights of all bon
holders, as well those not known as tho'
= known. If that judgment is allowed
= stand the $4,000 outstanding bonds cal
not come against the old road in Il
9 hands of the new company. But if Il
u holders of the outstanding bonds shout
o on the ground of fraud, or on account
II the inadequacy of the price for which Il
"a road sold. attack the judgment. and su
coed in setting it aside so far as they
De concerned, then the old road in the han
M of the new company might be liable. Al
ed it is against such contingency that t
~ subscribers of stock in the new compai
~ would find indemnity in the aooi'iol
70 stock issued to them.
RI