Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-08-11
pA1.RoAD CONTROVERSY.

10 tIespdSe upon the kinuue5S anu lnuul-
gence of the stockholders Of the Nashville
and Chattanooga railroad, and your readers
generally, while we expose the absurdities
that appeared in the Banner of the 8th
inst, signed "Proxy's Friend" and also
one in your paper of the 10th inst, signed
Citizen"
1t is very manifest from the tenor of
these communications that Burns and staff,
including officers, contractors, proxy hun
tiers, etc, are getting very hard pressed.
They certainly "roost lower" each sue
ceeding day. In the beginning of this can
vass Mr.. Burns professed 10 rely upon his
good management of the road for his re-
election, and was seemingly jubilant over
the idea that he could on that ground be
successful and ont of charity for Mr..
Burns we are willing TO admit that he may
have entertained some such idea, for we
believe to-day that Mr.. Burns has no more
accurate conception of the condition of the
road than one of the stockholders who has
given it no attention. He, no doubt, knows
it is in a miserable condition that he
gets his salaries regularly, and has reeeiUed ht8
dividends in the last great farce on the diyi-
dend question. Beyond this, 50 far as re-
CARDS his road, we believe he would make
a good know Nothing"
1t is said in the article in your paper
above alluded to, that the "War Depart
ment has issued orders TO Gen. Thomas,
commanding him to seize the Nashville
and Chattanooga road for the enforcement
ofthe lien Of the government, in case of the
election of Stevenson to place in the con-
troll of the road We cannot see why such
orders should have been issued, as Mr..
Stevenson has never been spoken of in con-
nection with any position on the road
never desired il, and would not accept it
were it rendered to him; and we here state
on authority, that the objection Of the gov
eminent to Col. Stevenson is not on ac-
count of his previous connection with the
road, but because of his prominence in the
rebellion, and the order was evidently pro-
cured, (if such order exists,) by the mis-
representations of the Burns party.
Every stakeholder will bear us out IN
the assertion that Col. SteVenson's name
was never urged as a candidate for the
Presidency of the road. He has taken
great interest in the pending election, al
though he has been in New York until re-
Gently. This he has done for two reasons:
First-he is the largest individual stock
holder in the road, and he knows that stock
will be sacrificed under the present man
agement. It has already deprecated sixty
per cent. since the road passed into the
hands of the present managers. In the
second place, every conceivable prejudice
has been created against him, and all others
who were not willing to go along blindly,
! "a Al. st,ga nf fb q road IN
be trampled under foot, by the mismanage-
ment of the present inCumbents. Efforts
worthy of the feeble abilities of their au-
thors, have been made to create storm of
excitement against Stevenson, which was
to be breasted by every candidate opposed
to Burns and his board. Mr.. Stevenson
does not wish any of his burthens Of he
has them,) to be lifted from his shoulders
and imposed upon fifteen respectable
gentlemen, who are candidates against
Burns. and who never had any connection
with the far-famed lawsuit, except some
of them who are in Mr.. Burns board at
this time, and we're active in the institu-
ton of the suit. These gentlemen have
repudiated the present management of the
road because of the destruction which
threatens the best interests of the stock
holders. Let it be remembered that there
will be no compromise of the lawsuit on
their part, and that it is not desired by the
defendants to the suit. For these reasons
Of course, Col. Stevenson feels very lively
interest in the coming election.
In regard to Mr.. Cole, we have to say
that his name has been mentioned by some
of his friends as a candidate for President
of the road. To this he consented very
reluctantly, as he has a pleasant position
on the Georgia railroad, and one more
profitable; and lest it may be said to the
prejudice of other candidates running
against Mr. Burns and his board, that bis
election would effect the prosecution of the
lawsuit against him and others, he with
draws his name as a candidate for Presi-
dent, and positively declines any such
election, hoping thereby to put quietus
to the absurd charges made in regard to the
dismissal ofsuch suit 1t is hoped, then, in
the future, that Mr.. Burns and his board
will run upon their merits and their worth
as railroad men against gentlemen who are
not obnoxious to any insinuations or
charges from any quarter whatever, and
who will be not only acceptable to the
But W TIC HOttf ftHtcftt- AilC
only immediate danger of the government
interfering with the road has grown out of
the fact that Mr.. Burns declared dividend
to stockholders when the government debt
was hanging over the road. This the gov
eminent thought was bad faith on the part
of Mr.. Burns, as it was his duty to first pay
the debts of the road that we're due, before
he declared a dividend. Now, had it not
been for Mr.. Burns reckless and lnprece
dented bad management there would have
been no debt due from the company to the
government Mr.. Burns created the debt
without submitting it to the stockholders-
thing unprecedented in the former man
agement Of the road, and against the urgent
advice of many Of the largest stockholders.
Then, isIit not the very quintessence of pre-
sumption in Mr.. Burns, after having been
guilty of such folly, and after having in
volyed the road in all its difficulties with
the government, to insist that he alone is
capable of relieving it from ITS trouble,
and is it not something more than pre-
sumption in him, after having created the
trouble and danger to threaten stockhold-
ers and directors with the interference of
the government because his debt is not
paid, and endeavor, out of his own mex
cusable Encouragement and reeklessness,
to manufacture false impression just on
the eve of his election, TO intimidate and
drive men into his support, who have no
confidence in his capacity as a railroad
man? Would it not be more modest in
him to say nothing about his government
debt, which is done alone for electioneer~
ing purposes? This is enough to iniure any
gentleman's character as a business man,
although in an elevated position. To-day
the property for which the debt was ere
ated, is not worth one-third Of the amount
of the indebtedness to the government;
vet Mr. Burns did it, and will still pro-
claim to stockholders that although he has
lost million of dollars in that transaction,
they must not take the road from him, or
the government will take all the stock
purchased by him-the railroad bed, fix
lures and other assets of the company,
worth at the least calculation $6,0O0,0OO,-
600, to pay ofsssaid Indebtedness created by
him to the government. He not only gave
the government the right to take back the
stock (old shells of houses and other relics
of the war purchased by him, in the event
of his failure to pay the debt, but also
pledged all the balance of the property be-
longing to the company, consisting Of