Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-01-24
ASSEMBLY,.
Condensed Summary of the Pro-
ceedings of Thursday
NASHVILLE, January q, 1869.
Ganafa-

January Il, 1868.
Senate.
The Senate met to-day at 10 O'Clock,
q M, Speaker Senter in the chair, and
twenty-five members present.
By MIR. Nelson: Bill to aid in the com
pletion Of the Knoxville and Kentucky
Railroad. The bill provides that the GOV
ernor shall indorse the bonds OF the road,
and if the road fails to pay interest, the
Governor, Secretary Of State and Comp
%troller, after giving thirty days notice,
shall proceed to sell said road and all the
property belonging to the company, for
the protection Of the State.
By Mr.. Rodgers A bill to appoint an
oil inspector for the State of Tennessee,
to be nominated by the Governor.
Authorizing the issuance Of State bonds
TO make up the amount Of the school
fund. Adopted.
HOUSE RESOLUTIONS.
Directing the Governor to employ
counsel in the prosecution of the indlct-
meDt against George r. Rutter, Presi.
dent OF the Tennessee National Bank Of
Memphis, charged with fraudulently sp-
propristing the school fund. Adopted.
Directing the Treasurer to execute the
revenue laws OF the STATE. Laid on the
table.
Providing that no more bonds shall b:
issued to railroads that failed to pay the
| January interest. Laid on the table.
rendering thanks to Judge Howard foI
the enforcement of the Ku Klux law,
Adopted.
SENATE RESOLUTIONS.
Authorizing T. B. MeElwee to sell the
| State interest in the Tennessee National
Bank. Rejected.
That the General Assembly will moi
receive any more propositions looking t.
the repeal of the franchise law at tbi.
session, Adopted.
Instructing the Senators in Congress Il
lake such steps as to secure the lOyR,
citizens protection, Adopted.
House.
RAILROAD RECEIVERS.
Senate bill 345, to abolish the office c
Receivers of railroads, was taken up a,
the special order. The report Of thu
Committee on Internal Improvement
recommended the rejection OF the bill.
Nj. BOwles move to concur in the re
port of the committee.
Mr.. Waters hoped that the repor
would not be cOncurred in. He believed
with Gov. BrownlOW, that the appoint
ment Of Receivers entsiled only add
tionsl burdens on the Safe.
MI. Myers made q lengthy argumen.
against turning over delinquent roads t.
! the companies, contending that all which
did not come up to the rack should be a
once sold out. He was opposed to thi
bill in toto.
Mr.. White demanded the previous
question.
The demand for the previous question
was not sustained-ayes 20, noes As.
MIR. Roach took the floor to discuss thl
bill, but yielded to a motion to adjourn
to 2 pm, with the understanding the
he should have the floor when the HousI
r~essseIabled.
Adjourned to 2-p,m.
Afternoon Session..
The consideration OF the r abroad r.
ownership bill was resumed, Mr.. II 1acI
having the floor.
He commenced by saying that tn
Northwestern Dad did not owe hin
anything, nor did he owe anything Il
that road, so that he could speak impair
TALLY, and with sole reference to the in
terests of his constituents. He proceeded
then to define the duties Of receivers, al
laid down in the Code, ~eontsnding tina.
the object Of the law was to secure the
interest due the State, while the very re,
verse of this had been brought about By
the appointment of the present receivers
on the different roads. The present Law
has manifestly proved a failure, on the
testimony of GOV. RrOwnlow himself
aud because it mas plainly failed to NEE.
the expectations contemplated on its en-.
actment. Take, for instance, one road
alone-the Northwestern-and see how
the r eceivership business has operated
in its management, and what profit il
has brought to the 5 ate. Fourteen
months ago the debt due by this road K
the State amounted to S. 1854 500. How
does the debt of hat road stand to-day
Just look at the figures, and ask then |
this law should not at once be repealed
The debt that road now owes the S-atC
fOots up, as shown by official documents
to the enormous sum of 81 ITO, 500. II
fourteen months, it will be seen, the &C
tual debt of that road has increased owe
q million of dollars,
At this rate, who will contend that
anything has been gained by the appoint
ment Of r sceivers2 Does any sane mar
pretend that they are not running the
roads in debt. and yet, where does the
money go to- The Memphis, Clarks-
vile and Louisville r lad, and the E ige.
field and Kentucky II BAD were next re.
ferred to, the speaker showing that the
Receivers of both these roads had been
running them in debt. The McMinn.
Vile and Manchester r ,ad was also q
burden to the people of the 5 ate in the
hands OF q II eceiver, while it is a notori.
Gus fact that private citizens of ~respecta.
bllity have offered to run the road, and
guarantee fifteen thousand dollars q
year income to the S ate.
The speaker next referred to the appro-
priations to different roads, and the large
amount Of bonds turned over to certain
Receivers, In some cases three or four
times as large as the security bond re-
quired Of the X 9eeivers. S)me of these
r sceivers gave bond In the sum OF fifty
thousand dollars, and Immediately there.
after were entrusted with S ate bonds to
the extent of three hundred thousand
dollars. WHAT has become of all these
bonds?
Then, again, why is it that there is
such marked Partially in the appoint
ment OF r 2ceiVers2 How is it that East
Tennessee roads, equally involved in
debt. have not had II ,ceivers appointed {?
Let GOV. BrownlOW answer.
In conclusion, Mr.. bach made an
earnest appeal for the repeal of the law,
inasmuch as it had SO manifestly been q
great failure.
Mr.. Bosom followed, ~contending
against the repeal Of the law. Before he
had concluded his remarks, the House
adjourned until 10 O'Clock tomorrow.