Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-02-09
again to pay debts heretofore due the Bank
of Tennessee" Passed

again to pay debts heretofore due the Ban
of Tennessee" Passed
NIGHT SESSIONS.
House resolution providing for holding
night sessions was taken up. After sbou
an hours discussion, in which a dozel
amendments were offered, the whole mat
ter was postponed until the first Monday il
August next.
THE SALE OF RAILROADS.
The various bills providing for the sal,
of delinquent railroads being the specia
order, were taken up.
On motion of Mr.. Fleming the HOUSE
went into committee of the whole for thei
consideration.
The Senate bin was first read. 1t pro
vi9es that the Governor, Secretary of State
and Comptroller, shall constitute a Boarc
OF Commissioners with full authority to
sell the interest Of the State in all the de.
hnquent railroads of the State, or lease
said roads to any person or company who
| shall give the necessary security.
On motion of Mr.. White, the House bill
introduced by Mr.. Fleming was read.
Mr.. White had an elaborate argument
read In favor of the passage Of the bill,
winding up with strong protest against
anything savoring of reputation, after
which the committee rose, and the House
adjourned until 2:30 P NJ
Afternoon Session.
The House went into Committee of the
| Whole, and the consideration of the rail
road bills was resumed, the bill immediate
| iy before the committee being Mr.. Flem-
| ings bill. The bill provides for the ap-
pointment of Railroad Commissioner of
the State, who, in conjunction with the
Governor, Comptroller and Secretary of
State, are constituted Board Of Commits
sioners, empowered to take supervision Of
all railroads in the State now in the hands
of receivers; said Board to appoint for
each an officer who shall exercise the du-
ties of Receiver and Superintendent The
Board of Commissioners are authorized to
take possession of railroads failing to pay
the interest on bonds loaned them, and OPP
crate or lease them in the interest Of the
State.
Mr., Smith opposed the adoption of the
bill.
Mr. Caldwell moved that the Senate bill
should be adopted in lieu ofsll others.
Mr.. Fleming was opposed to this, claim
ing that under the provisions of said bill
sale of the roads could not be legally effect
ed.
Mr.. RossOn was opposed to the Senate
bill, and hoped it would not be adopted.
Mr.. Fleming offered as an amendment.
to his bill several sections Of another bill
formerly introduced by himself, providing
for the sale of delinquent railroads through
the operations Of the Chancery Court.
Mr.. Caldwell expressed the conviction
hayTnrA ha af tha fnNo
to sell any railroad in which she had only a
partial interest, even though said road was
In the hands of a receiver.
MI. Speaker Perkins took the view that
the State had no power whatever to sell
even its interest in delinquent roads until
the bonds loaned them had matured. He
argued at some length that the sale Of the
railroads would be playing into the hands
Of the bondholders, and if these New York
bondholders once got possession Of our
roads they would, in time, control the poll
tics Of the State and elect their representa-
dves to seats on this floor. He was utterly
opposed to the sale of the roads under any
circumstances, contending that all they re-
quired was little time to place them in a
condition to meet all their liabilities.
MIR. Hornberger was not certain that the
State had power to sell delinquent roads,
but if such was the case, and he was in
clined to think it was, he favored the alb
solute sale of the roads, or at least Of the
States interest in them.
Mr.. Steele was of the opinion that while
the State could sell its interest in the
roads referred to, it could not 90 any
farther, for sale of roads, in which stock
holders had a vested right, would be mani
testify illegal.
Before any definite action was taken the
committee rose.
NEW BUSINESS.
BY Mr. Hornberger-A bill to incorpOr-
porate the GAINESVILLE and New Providence
Transfer Company. Passed.
By Mr.. Thomas-A bill to Incorporate
the West Station and Camp Creek Turn
pike Company. Passed.
By Mr.. Barry-A bill authorizing Nash
vile and Cincinnati Railroad to extend its
line from Lebanon to the southern bound
airy of the State, and on toward New Or
leans. Passed
BY Mr. James, Of Hamilton-A bill to
incorporate the Chattanooga and Russyille
Turnpike Company. Passed.
By Mr. Neil-A bill to incorporate the
Shelbyville and Fishing Fork Turnpike
Company. Passed.
By Mr. Cheatham-A resolution rescnd-
ing the resolution providing that no new
business shall be introduced after to-day.
The House refused to take up the resOlu-
ton.
By Mr.. Cheatham-A bill to secure
Joshua Elder what may be due him by the
Memphis, GAINESVILLE and Louisville Rail
road. Passed.
SENATE MESSAGE.
Senate amendments to House bill incor-
porating the Maxwell Insurance Company
were concurred in.
The report of the conference committee
in connection with amending the charter of
the Northern Rank Of GAINESVILLE was con-
CURED in.
Adjourned until $50 tomorrow