Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1868-11-11
MEETING OF THE sTOCKHOLDERs
OF THE N. & ID RAILROAD.


In accordance with previous notice, the |
Stockholders of the Nashville and Decatur |
Railroad Company met at the Masonic
Hall yesterday, and on motion, Hon.
George S. Houston, of Athens, Alabama,
was appointed Chairman, and George W.
Seay to act as Secretary.
After some preliminary business, the
President, Major J. W. slOss, submitted
his annual report, setting forth in detail
the statement of the earnings, expenses,
assets and condition of the road, all OF
which will appear among their printed
proceedings.
We are permitted to make the ioiio"in
extract from said report concerning the
SOUTHERN EXTENSION.
Every movement bearing upon this sub
iect has had the watchful care Of the Board.
II is confidently expected that Congress
will renew the land grant capital at the
next session. The Legislature OF Alabama
| at its last session, confirmed the action OF
a former Legislature of that State, aiding
| in the construction of railroads by endors-
| ing the bonds of the companies to the ex-
| tent of S12,0 900 per mile, thereby relieving
| the question of its eonstitutlonallty' Ihey
| also increased the endorsement from Sl2,-
900 10 $4,000 per mile. With this en-
dorsement and the Gland grant secured to.
| gether with the "three per cent. fund,
amounting to some 100000 or $1,000 600,
| which has been donated by that State to
that portion of your road lying between
Decatur and LimekilD, the ability Is fur
nished 10 enable you to 60 forward with
this work.
ats completion will put you in direct
communication by rail with all the inn
portant cities upon the Gulf, South At
lantic and Gulf States, as well as giving
you the nearest and most direct central
route TO the West Indies, Central and South
America, placing you in close proximity
with the productions of those vast regions,
and bringing them in return, as it we're to
your own doors. No other inland city in
this parallel will bear a nearer or more
direct route to Havana than Nashville, the
distance being not exceeding $50 miles.
It's construction would do more to increase
and render permanent the prosperity of
Middle Tennessee, and especially the city
of Nashville than the construction Of all
the projected roads combined. The prosperity
of Nashville lies South Of her. Your road is
40 thoroughly identified with this enter.
nrise that it requires no argument to prove
il. II. however, there be any who doubt it,
let them but examine the operations oil
the road for the present and its surround
inps. and they will find that the railroad.
from Louisville and Nashville, run.
ming West and Southwest o.
Won. have drawn and will con
linue to draw from you large portion
) Of your profitable business; and as they
offer nearer and more direct routes to thu
South and Southwest, they must, of neces
sity, successfully compete with you anC
control the trade and traffic with those sec
tione; but if your road is constructed to thu
3 | Gulf YOUR position will be changed ant
: instead of being local road and doing
local business, it will become one of tn
great leading thoroughfares of the age, no
confined even to the limits Of the Unitet
Statea, but spreading out upon the Gulf o
| Mexico, and extending your trade an
traffic TO its vast tributaries"
After the reading of the report it wa:
by resolution, ordered to be printed.
The election of officers then commence,
|, | and continued till late hour, when tn
f following was the result:
: BOARD OF DIRECTORS.
) Messrs Sloss, Claybrooke, Park, Martin
Claiborne, Ordway, Ballanfant, BufoIC
Jones, Tanner, Houston, Murphy, PerkinI
; McGayock and White.
The meeting then adjourned.