Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-06-13

/ 90 the Evansville, Henderson and
Nashville Railroad Company
To the Editors Of the Union and Dispatch
/ had intended, after last Saturday, not
again to discuss the proposition before our
people; but the numerous solicitations OF
our beat citizens and taxpayers have In
dnced me to submit the following state
meBt shall omitallogether the question
as TO how much We are interested in the
construction Of the Evansville, Henderson
and Nashville railroad to the coal mines,
at least, as there seems to be no material
difference Ia the views of myself and others
on this subject; but there are points con-
nected with this proposition which should
be fully understood by our people before
more Of their money is invested in this
road, and il Is to these / wish to call at
tentiOn.
Twill be remembered that in 1858 the
county Of Davidson voted a subscription to
four roads leading from Nashville, amount
ing in the aggregate TO 81 ,O00 900, These
roads have all been completed, and are
now, in some way, running, and have been
for yean; but there is but single one of
them that is very likely 10 keep its head
hbove the water. There is still outstand-
ing Of the BOMBS issued to them over $780,
boo, which will fall due 1878, IA and rs.
The interest upon the bonds issued 70 three
pf these roads has % be paid by levy of
.axes on the people from year 10 year, and
it il absolutely certain row that the bonds
issued 10 these roads will have 20 be taken
up BY taxation, also, when they fall due.
IL will also be remembered that but a
short time ago we voted q subscription of
$500, 900 to the Tennessee and Pacific rail-
road, which, added TO the former railroad
liabilities Of the county makes the sum we
have TO pay fraction less than 81 200, 600,
Sll Of which bears interest at the rate Of
six per cent. per suuun1, payable semi-an-
nuaily; TO meet which, if il has to be
raised by taxation, requires an annual tax
alton OF about $4,000. This, in my judg-
ment, is no light matter, when added to
our other burdensome taxation. A large
number Of the bonds fall due in the next
seven years, and will have to be met in
some way !; and il they have to be paid
and apprehend they will, as the law IN
der which they were issued provides that
they shall, and fixes the most summary
remedy for the enforcement of their pay
ment. The remedy provided by the law
il, that il the County County shall refuse
10 levy aud collect the taxes 10 pay interest
and principal Of the debt created for rail-
roads by that court, then a mandamus lies
10 compel it; which simply means that,
upon a peremptory mandsmus issued, the
rnoaey must be raised by the county au-
thorities, or 60 to jail until they will pro-
vide for the money. .t
80 you can Judge pretty easily whether
a boudholder is likely 10 insist on the pay
ment Of his debt with such remedy in bis
hands. Il is proposed 10 increase the in
debtedness by a subscription 10 the Evans
Vile, Henderson and Nashville railroad to
the amount of 100000. at.t
IL equitable terms of consolidation could
lie entered into between the Edgefeld and
Kentucky railroad, and the Evansville,
Henderson and Nashville road, | should
not object to the proposed increase of our
liabilities. but until there can I've some fair
and equitable arrangement between the
two roads effected, do not believe il is 20
our interest, as people, 10 put one dollar
Of our money into the enterprise. The
people Of Tennessee have already built
| forty-seven miles of railroad TO the State
line, and have even done more than that.
They. through the Legislature, have given
$500, 600 in bonds 20 the Edge6eld, Hen
derson and Nashville railroad, TO be ex-
pended in Kentucky, 'ld beyond their
control, and with which, n great degree,
| / suppose the road from the State line to
| Hopkinsville has been built. Ii is insisted
that this is emphatically a Tennessee enter
prise. Surely, if we take into considera.
/ ton what Tennessee has done, it ought SO
10 be considered, and 30 TO be treated. For
| up to this good hour, there has been but
little done except by Tennessee in that d.
Tection. ......
The Evansville, Henderson and Nash
willie railroad was chartered, think, about
The same time with the Edgefeld and Ken
tucky road, and it then had, surely, az faiI
a chance 10 enlist the energies and capita
Of Kentuckians as the Edgeield and Ken
/ tucky road had TO enlist those Of Tennes
scans. and moreover, 1t was insisted ther
az now, that il passed through bettel
country than the Louisville and Nashville
railroad; yet the people of Tennessee, il
good faith, embarked their energies anC
capital in both the Edgefeld and Ken
L AuEhN dtAu AllG AlOu4hNAAlN ANe%1hNAAAt
railroads, and put them through to tbs
State line.
The Louisville and Nashville road, after
a hard struggle in Kentucky, was com
pleted. The Evansville, Henderson and
Nashville road went on, and with ali the
means that could be procured from thi
rich community through which il passed
could only complete few miles, as l un
derstand, less than twenty in ali, and be
came hopelessly ins0lvent, and was pro
ceeded against by its creditors in the court
| OF the State OF Kentucky, and sold unde
decree, aud purchased by the gentlemen
| who now 10 some extent have il in charge
| As 10 the price, l am not informed aeon
raiely, but understand il was small, as bu
little had been done towards constructing
| the road, a. IL shown by the report Of il
Affairs in March, 1865, made by its presen
| managers. The same report will sao'
that there is still but little means viii
which 30 construct the road, and
does not strike me "a altogether Ger
tain that IN some respect its future his
tory may not be a duplicate Of its pasI
| hope this may not be the case; but takin
everything into consideration. is il not i'm
portant, before investing much Of on
means in the enterprise that we shout
have some definite understanding as 20 tn
proposed consolidation ofthe Edge6eld an
Kentucky and Evansville, Henderson, an
Nashville railroads, so that If the Who'll
thing shall be A failure, we will feel "
have done the best under the circnmstar
! ces and not be Jeff in the uncomfortable
position Of thinking that without an
arrangement in advance, we threw awa
/ and wasted our means
Ii is not known by our people upon whi
terms the purchasers Of the Evansville
Henderson and Nashville railroad pr
pose to put the thing purchased by ther
in, as stock, 20 compete with the subscriI
tons they are asking Of us matter Whic
| ought 20 be understood, for otherwise
may be standing on the books, now, 1
, | agreed upon by the purchasers at a
amount that will overshadoW other stool
, | holders,
. do not pretend this Is the case but il
! sist that this h a matter, with many other
which ought 10 be adjusted before We pr
oar means beyond our control. Ii il seen
inRly thought unkihd and unfriendly
this proieci that the whole subject is n,
welded, and the subscription, both as
amount, aad mode Of payment made
once, and upon the terms Of the rePreseI
tativra OF the Evansville, henderson an