Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-07-02
Special to MEMPHIS APPEAL.I

Special to MEMPHIS APPEAL.
NASHVILLE, July 1.-The Senate
thus disposed Of House bills on the
third reading:
To allow the County and Chancery
Courts to grant rights of incOrpOra-
ton. Deferred till December.
To repeal the law making house
owners liable for tax on privileges.
Passed.
To pay laborers on the Nashville
and Northwestern railroad. Deferred
till December.
To change the lines between Scott,
Campbell, Smith and Putnam counties.
Passed.
To stop The payment of bonds is
sued to the Mineral Home Railroad
Company. Passed.
To prevent conflict of jurisdiction
bet tween ChancellOrs. Passed.
To FIX the time for holding the cir
cult courts in the Fourth District.
Passed.
Senate bills on third reading:
To establish a criminal court for
Knox comfy. Passed.
To establish a criminal court for
Hamilton county. Passed.
To limit and define the jurisdiction
of the circuit court at Bartlett. Passed.
Mr.. Hall submitted the report of the
Railroad Investigating Committee
relative to the Nashville and North
western railroad, and the use made Of
the bonds granted to the company by
the State. The report shows that
John A. Gardner was the first Rresi-
dent of the company, serving from
1853 until 1856, when V. K. Steven
son was elected President. Mr..
Stevenson served until October /,
1861, at which time Mr.. Burns was
chosen es his successor. Mr.. Burns
continued as President of the COM
peny until the appointment by Mr..
BrownloW of Mr.. Jones, as receiver,
when Mr.. Burns became pOWerles5 to
do anything to protect either the in
terest of the company or the State.
The testimony of Mr.. Burns shows
that when the road was. turned
over to him, October IS, 1865, the
treasury of the company was empty,
and eighteen bonds of the State, the
only available means for the purchase
of engines, cars, material, supplies,
ETC., to supply the place of such prop
erty, taken South during the war.
This want was supplied by buying
from the United States twelve loco
motives, twenty-nine box cars, iron
rails, etc., amounting to $447, ,928.
There were issued TO Mr.. Burns, as
President, since 1865, bonds of the |
State amounting to 81, ,2l7 900. Most |
of these bonds were used at |
par, 100000 having been paid
to CONTRACTORS ct par; and $780, |
600 for iron; the residue were
hypothecated for cash, and the COM
pany being unable to redeem them,
they were retained by the purchasers
at their then market value, except |
seyenty-eight bonds paid to the Union
Bank on d note made before the war. |
The Committee call attention to the |
economical manner in which Mr.. |
Burns husbanded the limited means |
at his disposal, Id thG construction of
said ninety-two miles, including the |
building Of the immense bridge over
Tennessee river. They refer also to !
the dispatch with which the work was /!
performed under the direction OF
Mr.. Burns, the ninety miles OF
road and the Tennessee river |
bridge being constructed in eigh-
teen months. They also find that |
duriaG the period he operated the |
road from NaShY;l!e to JohEsonville, |
seventy. eight miles, the hSGd1 and !
other expenses were paid, and SSO,345 |
netted from October 1s, 1865, to July |
], 1867. On the 9TH of December, 1867,
the State appropriated 100000 in
bonds TO The road, and as soon as the
road was completed, Governor Brown
low superseded Mr.. Burns by, the APP
pointlnent, as receiver, of one w.
P, Jones, during the months |
ofSeptember, October and November,
1867 the employees were not paid, and
no satisfactory account Cf receipts and |
disbursements for that time is given. |
BroWnlow issued to Innes one hum
dred bonds of the State for one thou
sand each. The Peoples Bank OF
Nashville sold for said In nes eighty
three OF these bonds, at prices ranging
from 58! to 6l4 cents, amounting, less
commissions and tax, to $49, ,29l. This |
money was drawn from the bank upon
the drafts of w. p. Innes, as receiver.
InIes left a debt, incurred during the |
eight months ne was receiver, of |
$12l, ,555. The committee say that the
administration of Innes furnished
another striking evidence that the |
existing between the |
State and railroads ought to be dis
solved.
The Senate went into executive ses.
sion and confirmed the appointment |
by the Governor Of the following
named State Directors for the Mem
phis and Ohio Railroad: Frank r.
Davis, William Il. Moore, John T. |
Stratton, John Gum and Robert
Hutchinson, of Shelby county; J. R.
Watkins, r. q. Thomas and John l.. /
Poston, of Haywood county; James
d. Porter and ]. J Mcdonald, of |