Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-11-30

4
the 18th of September This was given
not for the purpose of stopping the road,
but with the intention of giving whoever
run the road during the winter an oppor-
tunlty of putting the same in order.
2. w. Maxey thought that this meeting
had no right to act The State and David
son county were largely interested in the
road, and neither was represented
J. NJ Hamilton thought that the mer-
chants were more directly interested than
anybody else. The road had been kept up
10y the mercantile community, in the pay
ment Of freights to and from this city. At
the close Of his remarks, Mr. Hamilton
offered the following preamble and resolu-
tons:
Whereas, NJ. Burns, Esq, President of
the Nashville and Northwestern Railroad
Company, has this day submitted to this
meeting proposition which he makes to
the merchants of Nashville, agreeing to
run the road, provided the merchants loan
him $40, 900.
And, whereas, said President having
stated that unless said proposition was ac-
cepted and carried out by the merchants
and citizens of Nashville, that he would
resign the Presidency of said road, and
withdraw all opposition as far as he and his
influence was concerned, from any plan
that may be on foot or desired, by which said
road may be successfully run in the inter
ests of the city of Nashville and the whole
country through which the road passes;
And, whereas, the statement of the gross
receipts and the actual expenditures of said
road from the LIST Of September, 1868, TO
| Nov. l, 1869, which have been submitted
to this meeting, shows an excess. of ex-
penditures over the gross receipts to the
amount of $3.50 "a;
And, whereas, from the statement of
competent engineers, We ascertain that
| considerable amount will have to be ex-
| pended, in order TO put said road in good
and safe running order during the winter
/ months;
And, whereas, the President of the
! Nashville and Chattanooga Railroad
have signifed their determination to ter
inmate the lease under which they have
been running the Nashville and Northwest |
ern Railroad since LIST September. 1868.
and hand the road over TO the President |
and Directors of the said Nashville and |
| Northwestern Railroad Company, unless |
the new lease which was adopted by the |
Board of Directors Of said company, and |
ratified by a meeting of the stockholders of |
said company held in Nashville on the 2sth |
of October 1869, and which has been sub |
mitted to the Legislature Of Tennessee for |
their approval, should be adopted and car
ried out;
And whereas, Under these circumstances /
there Is great danger that said road would /
cease 10 be run, thus causing damage to our
trade with the western end OF the State
And whereas, The merchants, in COM
mon with the mechanics and farmers of |
Davidson county, have a vast interest at
stake in the successful and regular running
of said road, and they cannot stand 10y 81
lently and see said interest sacrificed by the
stopping of said road, without knowing who
is responsible for the same; therefore
Resolved, That We cannot receipt the
proposition submitted to this meeting by
the President of the Nashville and North |
western Railroad Company, NJ Burns,
Esq.
Resolved, That We respectfully petition
the honorable Legislature of Tennessee.
now in session in this city, to ratify the
lease now pending before that body for
leasing said road to the Nashville and Chat
tanooga Railroad Company upon principles
of justice and equity.
Resolved, That the thanks of the whole
community are due to NJ. Burns, ESQ. for
the energy and zeal and faithfIlness he has
exhibited as President of said road for the
past six years.
After some discussion, the resolutions
were adopted and the meeting adjourned
In connection with the Nashville and
Northwestern Railroad and its troubles, we
give below a card from NJ Burns Esq, to
the Governor, in which he declines the
position Of Receiver:
NASHVILLE, Nov. %, 1869.
HIS ExCELLENCY, d. W. G. SENTER. Gov
ernOr of Tennessee: Sir-YoUrs of the 9th
inst. Is to hand. L should have replied to
you sooner, but the peculiar circum-
stances that have surrounded the whole !
matter have made it imperative upon
me to deliberate, that might not so act in
the premises as to prejudice the interest of
others involved, and for whom | act or
hazard my own rights and those who would
be made jointly liable with me, upon nv
bond as Receiver of the Nashville and !
Northwestern Railroad, as my securities
The action of portion of my Board of
Directors of the Nashville and Northwest
ern Railroad has been in direct opposition |
to my general views and plans for the gov
eminent and operation of the road, and
they have succeeded in procuring of the |
stockholders, by a large vote, an endorse
ment of their course. l am steadfastly of |
the opinion that they are wrong, and my
self aud a respectable minority of directors
and stockholders are right.
Now, 10y the terms of the act under
which your EXcellency has seen fit !
to appoint me Receiver of said road, |
am required to give a bond in the sum of
500. 600, with good securities, conditioned
that will faithfully perform all the duties
of Receiver of said road, and to receive |
the proceeds thereof and pay the expenses
of operating said road. and then TO pay the
surplus into the State Treasury. The act
provides that upon executing said bond the
President and Receiver shall, under the
supervision of the Directory of his road,
be clothed with all the powers and be sub
iect 10 all the liabilities now imposed by I
law upon Receivers My liabilities and
duties under this act are to the State of {
Tennessee but the supervision and con
troll of the road is placed in the hands of {
my Directory, who are directly opposed to
my policy and plans of operation. Myself
and securities upon this bond are directly
liable for the Encouragement of the road,
and the management htyeQf is placCd in the
hWdS IF others, and my power to control
OF manage the road is abridged, if not alb
rogated. 1t occurs to me, SIR, that by this
provision Of the act President never
could, undeg tins state of the case, think OF
taking the benefits supposed to be extended
10y the act to the road of which have the
honor to be the executive officer, and |
therefore decline to enter into said bond,
or to accept the Teceivorship of said road. |
But besides, the Nashville 4 CHATTANOOGA
Railroad has been pressing before the Leg
stature in session, ever since | had the
honor TO receive your note and enclosure,
a proposition to lease the road; and ii was
very doubtful whether the lease would be
adopted or not. Its adoption would, by
he terms of the lease, have rendered re
,eiver useless and unnecessary, and has
also caused me 10 delay my reply. Await
ng the action of the Legislature, l have
he honor to be,
Very respectfully, your ob't servant,