Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1870-06-01


Senators at the time and place of burning,
was adopted.
! Mr. Clementson submitted the report of
the Investigating Committee on the Knox
! vile and Kentucky Railroad which was
| received and 500 copies ordered printed.
a bill preventing the interaarriage of
white and colored persons, and making the
parties liable to charge of felony, passed.
A bill to amend the revenue laws ex-
empting 81 900 worth of personal estate iii
the possession of citizens, pissed.
| The Senate receded from its action,
amending the House resolution to adjourn
| OH Monday to attend the decoration exer-
cises at the National Cemetery. The House
| resolution to adjourn on that.occasion was
concurred in.
HOUSE.
A resolution directing the Attorney Gem
eral to commence proceedings against Mr..
Arnell for money received from the School
Fund was refefEed.
The resolution to adjourn on the 30tl
to attend the decoration of the National
! Cemetery was amended by the ,Sanate to
| give leave to such as wished to attend ands
| striking out the provision for adjournment
| The House did not concur.
The joint resolution censuring A. j.
Fletcher for failing to embody in the APP
pendiX the minority report of the condi-
| ton of the East Tennessee University,
which minority report charges him with
malfeasance in office, was withdrawn.
NASHVILLE, May 2s.--The Investiga-
| ting Committee of the Knoxville and Ken
lucky Railroad submitted a. report yester-
| day, which was published this morning in
| the city papers.
| They report that the Road received be-
| fore the war S1S0,000 in State bonds, and
| since the war 50 10000, making 50, $1,000
| in all.
| McGhee testified that the road lost S70,-
| 900 by the failure of Powell Greene & Co.
| That ,084 bonds We're sold for the net sum
of 1913, 049, or 674 cents per dollar.
| President Mabry stated that of the 800
bonds he received he sold as for $3.50, 100,
at the rate of from 60,to "A cents.
| The report shows that sos, 900 was ex-
| pended by the President to get additional
State aid
| Mabry stated that the individual stock
subscribed amounted to S102,960 and that
1 the stock subscribed by cities amounted to
| 100000, and by counties $3.50, 900. The
amount paid in was S37S,9ll. Amount
1 of State bonds, S2,350,000. Amount of
| floating debt, S10S, 1856. Amount received
| from bonds, 81, 6s9, 1872. Cost of construc-
| ton, s6l3,8 $50. Length of road 85 miles in
|. Tennessee; 80 miles not finished; 10 miles
tnot graded 46 miles running, and part
| finished.
The report calls attention to many irreg-
ularities in the issue of bonds to this road;
| that the law had not been complied with
| that the bonds We're Issued to the road on
the simple affidavit Of the President; that
4 there was no evidence of the 800 bonds
issued but the receipt ofthe President; that
| the bonds were sold for less than par, in
/ violation of the law that 80 miles of the
road cost S43, 900 per mile in State bonds
| that when seven more miles had been COM
pleted, the road cost $50, GOO per mile
| 1t also calls attention to the worthless
condition of the road at present, the earn
| ings for half a year not exceeding disburse
| ments but $241 ,307 1t further asks atten-
| ton to the reckless and extravaganza man
l agement of the road and funds by Mr..
Mabry; that he fails to account for $780,
| 600 in bonds; that he claims bogus credit
| of $50, 600, and missing note of So, 905.
| making 81, 1895; that he received vouch-
| ers for 81 500 worth of his own iron, but
can't tell if he paid it; that he spent ST.,
800, in trying to perpetuate further outrage
and swindling on the State; that nothing
but a legal investigation will expose the
| frauds perpetrated by the officers of this
road he calls attention to the refusal of
Mabry to answer questions; and finally
suggests that legislation be had to protect
| the State and compel the officers to an
\ swer.
| The Senate bill to prevent the credit of
| the State from being given or loaned to any
person. corporation or association, passed
| first reading.
A bill to prohibit the issuance of State
| bonds to railroads chartered previous to
| 1.-THE New Constitution, passed first read
| ng.
| A resolution TO adjourn sine die, June
| 18th, lies over under rule.
| No quorum in the House.
| Adjourned until Tuesday, ii o'clock,
A. NJ.
A SUMMARY REMEDY.