Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-09-27

misgovern? Do not the Radicals Illus
trate this /" Divine right" in q pre-emi-
nent degree? WeRwait, with breathless
anxiety, to hear Sir ORACLE speak again.
LETTER FROM PRESIDENT WOOD
RUFF.
We cheerfully insert the following
communication from MI. A. WOODRUFF,
President Of the Memphis sndiOhio Rail-
road Company, in ~vindieation Of the re-
cent action OF the Directors:
P~REsIBENr's OFF1cE.0
MFuFUTs OHIO r. R Co.
MEMPHIS, September :, lS57.J
Editors Memphis AppeslsI
IIearn 8 number Of communications
have appeared in a city paper during my
absence from the city, commenting on
the management Of the Memphis and
/ Ohio railroad company, and particularly
that part gift whereby the company paid
the interest due the state OF Tennessee on
/ bonds loaned the company.
believe 3 few plain facts from me In
reference to the same will not be cOnsid-
I cred smiss.
It is well known to the stockholders Of
the ompsny and the citizens Of Mem
phis, that the Memphis aud Ohio railroad
company was -TsOTgsniZed under very
embarrassing circumstances. The new
boSrd Of directors found the road bur
dened with 8 very large debt, past due,
without q locomotive or car Of any kind
without q piece Of machinery, or tools to
commence work without a workshop
or depot house in Memphis. All its
bridges and ~trestles destroyed, and cross
tics 20 much decaved as to be wholly
unfit for Use. Nothing left but 8 washed
and quilted road bed, and the iron rail
on the same. and not n dollar IN the
treasury. Under these circumstances,
but two plans presented themselves: One
was 10 abandon the road when all would
be lost: the other was % go forward and
rebuild the road. and by 20 doing develop
the country afford facilities for the peO-
ME 10 travel. and eventually save some
Thing 70 the stockholders, which coul
only be done Uy mourning debts 10 be
usid out of the future earnings OF the road.
The directors adopted the latter plan, and
went forward, rebuilt and equipped
the road, and now have the same
in good running order. In doing THIS
thew were compelled TO incur debts
which they promised should be paid out
Of the future earnings OF the road, and
they we're unwilling % see the road pass
under the control Of any one whereby
the men that loaned the money, the
merchants and planters thst furnished
the supplies, and the mechanics and
lsbsrers thst did the work 70 rebuild the
road, should lose one dollar by the COM
q Nv first knowledge Of any oppO-
siti0u 10 the road was about the 9th Of
August, when Mr.. J. N. TOmeny called
at nv once and informed me he was
about to Join a party that would COM
mence 3 warfare against the road and
be would advise me az a friend 20 draw
out what money wEs due me by the
company, and pay what paper 1 had
ea i9-seo for the company or l would
lose it.
replied. 20 long as the mechanics and
Isb3rgrs were ClsmOriDF for their pay, |
could not have the heart 10 draw out my
money and let them suffer.
He answered, If I was so charitable a.
that, he would advise No to draw out my
none and present il to the wOrkmen, {
when 1 would get the credit for it. -,
The party sent one Of their emissaries
into Henry, Gibson and Carroll counties
10 write sud make speeches, to manufac-
rure and get up an opposition to the man-
ageu0ent Of the road. I
They also commenced their warfare in
1ne Of the newspapers Of this city.
/ sOOn learned that q petition was for
war3ed 10 Governor BrOwulOw, request ]
ing him to appoint J. NJ TOmeny re- q
seiver for the rOBd. met +. s. Richards =
st Chattanooga, as be was returning
the governors, where he had been G
his own appointment as superin- ]
.eDdent. He, also, very kindly desired Z
70 draw out What money was due me !
BY the company or ] would lose it. j
This company is Indebted about three
hundred thousand dollars to the citizens
II Memphis, and along the lire Of the
Dad, for money loaned, material and r
furnished, and for labor IN p
rebuilding the road, which would have =
Jeen lost 70 them If the directors had q
permitted the road TO pass into the con-
r0l Of the state. o
Ictfsred 10 resign my position as presi- Z
lent OF the company, or would give I
hem possession Of The road if they \
would give me Assurance these debts v
would be paid, which they declined P
.otug. [
leave the public TO Judge Of the mo- d
that induced this party, who have G
efused 70 aid the road or contribute one b
to the rebuilding Of the same to o
Irge the governor 10 seize the road and 81
lace them in possession Of the same. G
In order to protect the creditors and 8
tockbolders Of the road, the directors il
uthOriZed q lease Of the road TO the Lou q
sville and Nashville railroad company q
Jr q term Of ten years, mot Binety-nine u
ears as 80 often stated in one OF the city ?
apsrsl, they TO assume the payment Of r
n amounts due to the state of Tennes- o
Re to fulfil our contracts with the mer- o
hauts Of West Tennessee to equip and n
yerate the road IS s first class road, and q
D soon as the net earnings exceed cur o
sut expenses and the amount due the D
tate, 70 pay the same over to the Mem Z
and Ohio railroad company, and re- o
1rE the road 10 good order to the stock p
at the expiration OF the lease. e
A proyisO in the lease gives the stock d
.Olders the right 70 consolidate with q
At any time they may elect. BY Il
bis lease the directors have secured the el
.syment Of three hundred thousand dol II
ars TO the citizens Of West Tennessee. p
hey have secured the prompt payment cI
Z interest and sinking fund due the is
tate 10 bonds loaned the company, and q
y so doing have saved the citizens from IL
eing taxed TO meet interest on same. VI
hey have prevented the stock from be- q
1g sacrificed and placed il within the Il
over Of the stockholders 20 make their
took valuable at any time. They have
the building up Of 3 irst-elass
that will be the great line Of travel 81
-om north 70 south, and defeat the build :,
lg Of a rosd now In contemplation run q
ing from Paris to Jackson, Tenn, 81
7hlch road would draw of a large \
mount Of travel and freight from A,
be Memphis and Ohio road, which
you'd 20 dowB the Mississippi Central, p,
10 NT.LEH. 81 nLH. -. L.9 - n--.s- Al
2 consolidating with the Louisville and :,
nashville company, the Paris and Jack =
Oh road will not be built, and RlI freight :,
travel will be induced 10 come by :
be way Of Memphis, which will benefit :,
ur city and all the railroads centsring y
ere. The lease also binds the Louisville !,
Nashville railroad company to Ope- :,
ate the road 50 IS 70 encourage the local =
~usiDess, and 80 adjust the local tariff =,
nd working Of the road IS 10 develop, ).
D the most thorough manner, such local -
usiDsss; and that no discrimination :,
D the freight tariff shall be made ~
gsinst the city Of Memphis In \.
.v0r Of the city Of Louisville. z,
Ieasing OF the road met the unsni- h,
lous approval Of my board Of directors, =,
lnciiuned and ratified by the state d. n
.ctors. and despite the opposition and
Of the warlike party, who failed a.
getting control Of the road. / believe -
acts will be sanctioned and approved "
the stockholders. m
A. WOODRUFF, -
President "a. d .. r. \. Co. u
MEMPHIS, TENN, Sept. %, 1871. Cd
IN
WARWICK. THE KIEG-MAEER. ~c
DISTRICT JUDGES IN TEXAS. m
HEADaUARrKKs GALvEsr0S. TEKAs,l II
august Is, 1857.
Jecial Orders No. 1851 or
The following district judges are re- To
owed from Office on account Of their B,