Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-11-23
ABOUT the RAILROADS THAT ARE
TO BE SOLD.

ABOUT THE RAILROADS THAT ARE
to BE sOLD.
We Iesru from the Nashville papers
that the bill introduced In the Lsgisla-
ture TO empower the Governor to sell
certain defauiting Railroads hangs fire,
and is likely TO drag a slow length sloUg
until the Railroad Subsidy bill sppTopri-
ating Sc, 495, COS for certain East Tennes-
see Railroads hiss passed. The Chstts-
nOOga Republican radical has the fol-
lowing upon the subject
A bill has been introduced into the
Legislature to force a sale Of the North
western, GAINESVILLE, EdEeheld, Win
chester and MeMiDnvilie Railroads. We
may be mistaken, but our impression is
that IL Is Cannon, The State inside ad-
vances to these roads, and was empo8-
cred 10 sppoint receivers, and IN certain
contingencies to sell the roads. At the
last regular session of the Legislature the
State entered into q new agreement with
most OF them, and In the Omnibus Bill
made lavish appropriations to some Of
these and other railroads, but agreed that
/ nons OF the roads should be sold unless
they for 1.-TWO consecutive" years failed
10 pay the State interest. II q 3 road for
two consecutive years sfter the making
Of the new agreement failed, then It
might be sold. None OF them have
since hat time failed for two conseeu-
i've years, and they can't yet he le-
gally sold. It is very questionable
whether they can be foid at all
legally. II there Is any doubt about
Il, the State is not likely TO make
much by the sale. It is hard to say
whether there has been most roguery or
dunder-headisn in the Legislature about
railroads in Tennessee. The Edge6eld
road owed the State 81, 232 S04, or SIl7,.
S04 more than the whole cost of its con
s~truction, and IL neveT paid q dollar into
the State Treasury toward the interest on
its loan, but the Legislature made aa ar
rsBgement TO give It 500 600 to help 1t
build 5 rOsd in Kentucky, at the same
time stipHlating that il should not be sold
unless it failed to pay its interest for two
consecutive years. The ClsrksVille road
owed the State 81 ,46s $50 and has been
made one Of the main arteries Of travel
IN the State, but for some reason did sot
get an appropriation under the Omnibus
Bill, and may perhaps be liable to be sold.
There may be an arrangement by which
under such sale the Nashville and Louis
vile Railroad Company may buy it Rt g
great bargain. QWten Sabeg The North
western road, owing the State 50, 265, coo, |
never had been able to make eyen ruL-
ming expenses, but $3.50, 600 more wss
loaned TO il, and q stipulation made
that it should not DO cold unless IL failed
to pay It's interest for two consecutive
years. &c can't be sold now, aud II
It could, would only be bought by the
Nashville and Chattanooga or Western
and Atlantic roads at 8 great bargain.
The Winchester road owed Lhs State 81
500 and eve made expenses. 1t
got 100000 more last session OF The
under the stipulation that il
not be sold unless il failed to psy
for two consecutive years. II
be sold. The McMinnvills road got
the State 81, 240, GOO, or SAG, 600
more than the cost of building It. 1t
never has paid running expenses, bat IS
L did not ask more State aid under the
Omnibus BIN IL may be liable to sale.
Our Governor desires to save the State
loss, hut 1t is very questionable if
ne roads be legally sold. Il may be
! question whether the State should self /
hem " she could do 50. Have the rcsdz