Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-07-10

SATURDAY, July S.-Ihe Senate met
at 10 O'Clock. Speaker Thomas presid-
ing.
NASHVILLE ANB SOUTHWESTERN RAILROAD.
Mr.. Etheridge presented the report of
Hon. John A Gardner, State agent of the
Nashville and Northwestern Railroad,
showing the condition of the property,
receipts and expenditures since passing
into the hands of lessees, the character of
work done and now in progress, etc.
The report was received and ordered to
be spread upon the journal of the Senate.
WINCHESTER AND ALABAMA RAILROAD.
Mr. ClementsoD, Chairman of the Rail-
road Investigating Cemmittee, submitted
the report of that Committee relative to
the condition OF the Winchester and Ala
bana Railroad, the amount of bonds is
sued thereto and the uses made of this
aid Thereport was ordered to be trans
mitted to the House, and 500 copies er-
dered printed for the use of the Senate,
The Committee find by examination. of
records in the Office of the Secretary of
State that from May 10, 1858, to June 80,
1865, bonds of the State were issued to
the Winchester and Alabama Rsilroad,
amounting to 81, ,2S9, Q00s interest fund
ed to Jan. l, 1866, $143, 259; total
bonded debt, 81, 4S2, 259; interest due
July l, 1870, $315, 3O9 SO; amount due
the State July l, 1870, $1,747, :
568.93. The road is about 3S
miles in length, making the amount
advanced by the State in bonds and in
terest about $4,000 per mile. ] NJ
Russey was elected President of the
Company in 1865, and remained in charge
until July 10, 1867, when he was remov-
ed, and ID E Davenport appointed Re-
ceiver. When Mr.. Russey took charge
of the property, there was nothing but
the road bed, the bridges and superstruc-
ture having been destroyed, and no rolling
stock left in its possession. He
received 522 bonds of the State 239
of which he sold at prices ranging
from 62 to 62i cents on the dollar; de-
livered ITS bonds to Mr.. Davenport, and
disbursed the proceeds of the remainder
for rolling stock and construction. From
the testimony of Mr.. Davenport it ap-
pears that he continued in the Office of
Receiver until Nov. "a, 1859, that he
sold 493 bonds from which was realized
$500, S49 GO; the balance he paid to con
tractors for material; he has in lis
possession certain securities belong
ing to the road which he viii
turn over to the proper authorities.
w. II. Moores was elected President in
May, 1868, but had no authority or con-
troll during the Receivership of MIR. Da-
venport Mr.. Moores came in posses
sion of the property Nov. %, 1862 He
frequently called on MIR. Daven-
port to know what 1t was cost
ng to build the road, but could gain
no information on the subject. In turn
ing over the property, Mr.. Davenport
failed and refused 10 turn over number
of notes belonging to the road, and has
continued to collect or retain the same for
collection; that he collected pay for the
last quarter in 1869 for carrying the mail
after he had been removed, for which q
bill has been filed against said Davenport
in Franklin county. The Committee say
that in the brief time allotted them for
the work, they have not been able to
complete the investigation-to follow up
any particular item of fraud or Irregular
ity involved in the management of the
Winchester and Alabama Railroad, and
the disposition made of the bonds appro-
priated by the State. They call the at
tention of the Governor to the 18th sec
ton of the act of Feb. II, 1852, believ-
ing that the facts ascertained by them
warrant the immediate enforcement of its
provisions under the authority in him
therein vested.
RESOLUTION OF THANKS.
House resolution rendering the thanks
of the General Assembly to Messrs.
Thomas and Perkins, Speakers of the two
houses, for their prompt and able efforts
at Washington to prevent the adoption of
the reconstruction measures at that time
contemplated by Congress, was adopted.
Mr.. Speaker Thomas (Mr. Morris in the
chair addressed the Senate, expressing
his gratitude for this hearty recognition of
the service rendered by him on that oc
casion.
Adjourned to 10 o'clock Monday.