Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-06-23
Special to The Memphis Appeal. ]

1 able Weakness for Wafer QEt
Special to the Memphis Appeal.l
NASHVILLE, June 22.-In the SEN
ate to-day, the Railroad Investigating
Committee submitted a report, show
ing that S764, 900 in State bonds had
been issued to the McMinnviIle and
Manchester Railroad up TO July, 1866.
On the 4th of April, 1866, there were
issued to P. H. Mabry, President of
said road, 346 bonds, and ON the 26th
of June, 1856, the State issued to Mr..
Mabry "a bonds, making the aggregate
sum of S400, 900 in bonds issued tosaid
road since March, 1866. From testi-
mony, the committee find that P. H.
Mabry had been President of the
company almost from the time of its
organization up to about the first of
September, 1867, at which time he
was superseded by the appointment.
of Chas. II. Cowan as receiver. Dur
ing Mr.. Mabry's term, it appears
that he received in cash $27, ,154,
and claims to have disbursed
the same on account of Incl
dental expenses. Most Of said
receipts arose from the sale OF thirty
bonds, and the committee expresses
the opinion that the President did not
have sufficient authority for making
the disbursents in the form and man
ner stated. On the 25th of January,
1889, Receiver Davenport leased the
road to Higgins q Price for $4,000 per
annum. The receipts Of the last
Receiver are stated to be $32, ,482
and disbursements $28,128, leaving
balance due from said receiver of
$4353. The lessees claim to have paid
the full amount due upon said lease
up to January 25, 1870, but there is
no proof to show the payment Of one
quarter of said lease, amounting to
$57, 900, and the Committee thinks
that sum still due. 1t appears the
lease was made without sufficient d b
thority of law. The proof shows thaF
the road and rolling stock are kept in
good condition by the lessees, and that
the road is being run to the satisfaction
of the community living contiguous
thereto, and that its net earnings are
between $85, 900 and $4,000, and that
the company has instituted suit
against the lessees to cancel the lease |
and regain possession of its property. |
In view of all the facts shown, the |
Company recommend suit to be |
brought against P. III. Mabry, for |
misappropriation of the funds, and |
against 1.-The lessees for the amount |
due, and express the opinion that the |
of the State demands that the |
lease of the road should be forthwith |
They also recommend that |
suit be brought against DR.. Davenport |
and his securities for the amount due |
from said Davenport to the State.
They find claim for $169, $50 against
the Federal Government for iron rails
and other material taken from this
road for military purposes during the
war, which account has been made
put and filed in the Quartermaster
Generals Office, at Washington, and
state that they believe this a just and
valid claim against the Government
Of the United States.
On motion of Mr.. Cooper, of David
son, five hundred copies of the report
we're ordered to be printed, and the
subject matter of the report COM
nitted to the committee with instruc-
ions to prepare a bill in reference
as they may think best cal
rElr+ed to secure the interest of the
State.
Senator Cubbins introduced bill to
encourage the use of private capital,
which passed its first reading, and
was referred to the Judiciary Com
mittee.
The House resolutions directing the
of the Treasury to settle
with the Memphis and Charleston
Railroad Company, was rejected; to
provide for the redemption of land
sold for taxes, rejected; to tax fast
freight lines, rejected; to establish the
Probate Court of Shelby county,
passed its third reading.
The consideration of the Senate bill /
to make permanent insanity a suffi-
cient cause for divorce from the bonds
Of matrimony, came up on its third
as the special order, when
Mr.. Peyton proceeded to speak in op-
position to the bill. After distinctly
stating his objections to the measure,
and reading from various authorities
TO sustain his position, Mr.. PeytOn
made an earnest appeal to the Senate
in favor of its rejection.
At the conclusion of Mr.. Peyton's
speech, ON motion of Mr.. Etheridge,
The further consideration of the bill
was postponed until Tuesday next.
Mr.. Cooper, of Bedford, moved to
the vote rejecting the bill
10 provide for the redemption of
and sold On account of unpaid taxes.
The motion prevailed and the bill was
to the Judiciary Com
mittee.
In the House, bill in lieu of the
Senate bill annulling the bonds issued
to the Mineral Home railroad passed
third reading. It proposes to investi-
gate the validity al certain classes of
bonds before repudiating them.
The wife of Henry Davis, of West
drowned herself last night,
by leaping into cistern while in a fit
Of mental arrangement.
WAR OF GIANTS.