Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-05-26

| state, but, from his predecessor he re-
ceived the note of G. Powell, for pro-
ceeds of bonds of the Company, lost by
the failure of G. Powell, Green & Co: a
| copy of the note is attached to his demo-
sition, marked Exhib A; that he took an
inventory OF the property of said road and
has filed an estimate of the value of said
road and the property of the same; that
he files as Exhibit COB. u to his deposition.
| showing the receipts and disbursements
of said road from the LIST Decem-
Der, 1869, TO the 1st of April, 1870;
that the item, $562.45 on said report,
was made for right of way and out of the
proceeds of Blount county bonds; that the
receipts as shown by the report is 81
76S. 90, and disbursements SO, 1852. 50; that
the difference was paid out of other pro-
ceeds in his hands as President of the
road; that he sold to T. w. Bearden $500
in Blount county bonds at go cents;
and to the same party, 5000 OF 62I cents;
that he sold 81, 600 of the same to Mr..
Bartlett, at 65 cents; also, sold to ]. A.
Mabry, $50, 600 at 65 cents, and holds in
hands $32, 900 of the same; for bonds sold
| to MIR. Mabry, he has his note payable
July /, 1870. The balance of the assets
he has on hands; that he could not
comply with the Internal Improve
ment law of 1852, for the reason
that the earnings of the road were not
sufficient to pay the current expenses;
that the question being asked the witness
as follows: Whether or not You ever
paid out any proceeds of the company, or
whether you know of any other party or
parties paying out the proceeds of the
company, or of any other railroad compa-
MES in this State, for the purpose of Sc
curing the passage of law appropriating
aid to railroads, and if 50 please give the
names of such party or parties, and the
names of the parties to whom such money
or bondslwas paid" he answered, Gas far
as the question applies to myself, do not
regard it legitimate question, and as to
the others, | know nothing"
From which answer, the committee in
fer that the witness does not desire to
criminate himself. He states that he
knows nothing further of interest, except
that arrangements have been made with
the Blue Ridge Railroad, in South Caro-.
lima, to furnish means to complete the
Knoxville and Charleston Railroad, also
to pay the interest due the State upon the
bonds, and also to pay the debt of the
road to the State, in order to consolidate
the said Blue Ridge and Knoxville and
Charleston railroads.
The committee find on file, in the office
OF the Secretary of State, the following
described papers, purporting to he the
evidence upon which the Governor acted
in the issuance of the seven hundred and
ten bonds, and these are all the papers
that the committee have been able to find
in the said Office of such character in re-
gard to said road.
The first is the certificate of r. G..
Morris, chief engineer, and G. w. Jones,
President, dated Sept. IS, 1867, of the
! amount of work done to the bridge across
HOlston river, and that the same is more
than One-fourth the cost of the bridge,
which said certificate is sworn to by said
Morris and Jones and upon said certif-
cate is the Endorsement of w. G. Brown
low, Governor, ''that the application is
correct, and he approves the same in
lieu of the Commissioner of Railroads.
The second is the certificate of John b.
Brownlow, Railroad Commissioner for the
State OF Tennessee, dated Jan. Is, 1868,
that the Knoxville and Charleston Rail-
road sis entitled to draw one hundred
| thousand dollars, in the bonds of the
| State, Tor the iron on ten miles of their
road, and chat more than three-fourths
! of the work on the bridge across Holston
river having been completed, they are en-
titled to an additional amount of fifty
thousands dollars on said bridge having
previously drawn thirty-fve thousand
| dollars. Said certificate is not sworn 10,
but is approved by w. G. Brownlow,
| Governor
The third is the certificate of John Il.
BrownlOw, Railroad Commissioner, da-
ted March 2, 1868, that the Knoxville and
Charleston Railroad Company are entitled
to twenty-five thousand dollars in the
bonds of the State, on account of bridge
aid, as per act of the Legislature of 1854.
Said certificate is not sworn to, but is ap-
proved by W. G.. Brownlow, Governor.
The fourth is the certificate of w. G.
Brownlow, Governor, dated April a,
1865, and is in the following words and
| figures, te-wit:
| 81 do hereby certify that the grading on
the second section of six miles of the
Knoxville and Charleston Railroad has
been completed, nearly, for the super
structure, and that said Knoxville and
Charleston Railroad Company are enti-
tied to receive sixty thousand dollars in
the bonds of the State of Tennessee, as
| equipment fund, under act of the Legis-
lature of 1854.
''Given undermy hand, this 24th day of
| April, 1868.
Nv. G. BROwNLOw, Governor
And, upon which certificate is the fol-
lowing order dated April "a, 1865:
ga. j. Fletcher, Esq, Secretary State
of Tennessee: You are hereby authorized
and directed to issue to the Knoxville and
Charleston Railroad Company, sixty bonds
of the State, in conformity with the fore
going certificate.
| Nv. q. BROwNLOw, Governor"
The committee also find the following
order, dated Knoxville, Jan. %, 1868:
sc. W. Blackburn, Comptroller of the
State of Tennessee: You are hereby d.
rected to issue to G. w. Jones, President
of the Knoxville and Charleston Railroad
Company, $50 bonds, appropriated by the
late law, to said road.
| Respectfully,
wv. G. BROwNLOw, Governor"
The committee find from the estimate
made by Adrian Terry, Civil Engineer, of
the present value of the cost of construc-
ton of the said road, that the present
value of work done before 1866, is S242-
900; present total value is Sl93, 900. The
committee find from the estimate made
by E. HixOn, Master Mechanic, East
! Tennessee, Virginia and Georgia Railroad,
and Joseph Ambruster, Master Carpenter,
East Tennessee, Virginia and Georgia
Railroad, that the present value of the
engines and cars belonging to the Knox
Vile and charleston Railroad, is $17, 700.
The committee find from the inventory
J filed by NJ. D. Bearden, that the estimated
} | value of the real estate, and all the prop
r erty of said road, excepting the property
) estimated above, aud including the nott
: of c. Powell, for $75, 900, and 50:
G BlOunt county bonds, of the nomina
D value of $S5, 200, is s199 455. Al, making
G a total of the estimated value of said roaC
to be $3.50, 155.H.
1 The committee find from the genera
e statement of the condition of the Com
0 pany, filed by NJ. ID. Bearllen, that thu
b amount of stock subscribed by individual
y and the Blue Ridge Railroad Company
: was 1912, 325; amount of capital stool
!; subscribed by the counties, 1920, 900