Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-06-25
THE RAILROAD INYESFIGAl
.TION. sr-.s.-,7rls-.usszsz
The 8lc1zsnnyiIic and Manchester
RaiIroad-Carf from BIessrs. Hug
gins md Price. ~


The aIc1zsnnyiHe and EIanchestel
RaiIroad-Cardf from Messrs. Hug
gins md Price.
MANCHESTER, June 20, 1S7o.-Mr
Clenenston, Chairman Railroad Commit
tee: DEAR SIR: / see in to-day's Ban
ner q report on the MeSIinnville ant
Manchester Railroads by you as Chair
man that does us injustice. Aud takins
it for granted that you do not wisl
to do us or any one else N
injustice knowingly, We therefore sim
ply point ont the errors, and hope anC
believe you viii make the correction.
You state that the net earnings are from
$35, 900 to $40, 900, per year. The PROOF
before your Committee (or at least tht
proof that was made while we were pres
ent) was that the gross earnings for {
period of about fifteen months CHE time
we had been rnnning the road) was be-
tween $S5, 600 and $40, 900. Quite diff.
ference you will perceive between gross
earnings and net earnings. And also
between one year and fifteen months.
| Again, you recommend that suit be
brought against US for amount due on
lease-not at all necessary, until the
State has a surplus of money sue wishes
to distribute to lawyers. We have the
money to pay all just claims against US,
and always have and always will pay
without suits. We are not due the State
one dollar on this lease, or any thing else,
or at least if we are, she has but to pre-
sent her claims and get the money.
On the 9th May w. S. Higgins wrote
]. s. Hart, chairman pro tenn. of your
committee, that he had been informed
VERBALLY that one of your committee
(Thomas, / think, twas not satisfied about
the amount we had paid D. E. Daven-
port. Iwish you would show him ESQ.
Prices deposition on that point; also the
Comptroller's certificate and the certified
copies of d. E. Davenport's receipts, and
copy of State Treasurer's receipt, all of
which will show the lease fully paid up
to April %, 1870; and if more proof is
wanted TO satisfy the committee on that
point, you will please inform me what 1t
is, and will attend to it. r41 I
MI. Hart made no reply to the above,
and of course we concluded, as any one
else would have done, that the committee
was satisfied. They certainly should
have been, for clearer evidence was
never produced on any point. Copies of
receipts, copied and certified TO by the
Circuit Court Clerk -
As to your recommendation, that it is
to the interest of the State to have the
lease Immediately cancelled and the road
turned over to the company-we have
nothing to say, more than that is cal
culation that all ax-payers can work at.
And that all men who are at all familiar
with railroad management know that any
railroad whose gross earnings do not
exceed thirty thousand dollars per annum
cannot be run by any company and make
a net profit of fifteen thousand. And,
my dear sir, we would be obliged if you
would point out any company that ever
approximated that sum.
This company once leased this same
road for five years to the Nashville and
Chattanooga Railroad. The Nashville and
Chattanooga Railroad was simply to pay
the interest on her debt, which then
amounted to, twenty thousand per year.
The Nashville and Chattanooga Railroad
sunk upwards of eighty thousand dollars
by the lease.
If it is the interest of the State to
make less than nothing, or small amount
rather than larger amount, then it would
be to the interest of the State to have
this lease cancelled, and not otherwise.
And we challenge any man to show by
figures and facts that it is to the interest
of the State to have this lease cancelled.
And when it is done we will hand the
road up without murmur. If you would
lease out all The delinquent roads at the
highest bidder, the State would make or
save thousands where it now loses its
tens of thousands. Pardon US for these
suggestions; you are working for the in
terest of the State; so are we. You are
one of its citizens and tax payers; SO are
we. And in conclusion will say that if
the Mem. 81 NJ r. Il. Company are will
ing to pay more for the balances of our
lease than we are paying to the State, let
them say so, and how much more, and
they shall hear from US Immediately.
Respectfully,
HUGGlNs s. PRICE, Lessees.
p. S.-Mr. Clementson: The eompa-
ny does not want possession of this road
with the old organization to control it,
and, if put to vote of all the stockhold-
ers, they would vote against it ten to one.
Neither did the company bring suit
against US for its possession; it was
Faulkner, Marberry, Hickerson 6 Co.,
without authority from the stockholders,
who brought the suit you mention. Mr..
fear, has poisoned your mind
in this read, that he should stay with your
al the time, and act as attor-
ney for Marberry 6 Coz lie was one of
that firm, that is all; large contractor in
building, the treasurer, director, and
not even stakeholder. No, sir; he has
been acting as Director, ETC., on stock
loaned him. Only few weeks since did
he buy enough stock of Judge Harrison
to make him eligible as Director. Any
man of your known sagacity, with these
facts before you, can readily perceive
that Asa Faulkner is acting for his own
interest, and not for the interest of the
State.
II the State will invest the $l5, 900 we
pay them in her bonds at 80 cents, it would
make it equal to $4,000 per annum in
the debt of the company or
States; and all the Legislatures, Faulk-
ners and Marberries in the world
will never do better with it-mdrk that.
We have contract with the State to run
this road five years, and We say it is
good one. Faulkner & Co. says it is not,
and brought suit against rs to have the
courts set it aside. And now we submit it
to your good sense, and the Judgment of
all sensible men, whether it is the province
of the Legislature to try law suits or acting
within its proper sphere if it should attempt
to carry out your suggestion to set this
lease aside. Do not all man see that that
would be an ex-post-fscto law, law inter-
fering with vested rights? They cannon
see otherwise. H. & p.
, e
AZ s ~