Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-04-19

Gulf. He has presented points to the
business men of Cincinnati which they
never ascertained before. They have as
certained that Nashville was their most
valuable road to the South, and we find
that they are willing to accept it. The
Commissioners of the Nashville and De-
catur Railroad are In Louis
vile; they went there yesterday
morning, and they have been in close con-
sultation with the directory Of the Louis
vile and Nashville railroad, and are acting
by the authority Of their company. They
are obtaining the whole proposition of the
Louisville and Nashville Railroad, and are
putting it down that it may be presented
to the Directors of tie Nashville and De-
catur Railroad tomorrow, for its confrma-
ton. So whatever is done has to be done
quickly. And we, as the Board of Trade
and business men of Nashville, come to
you in a solid body and ask you to do the
only thing that can be done, to lease the
Nashville and Decatur Railroad for Nash
vile.
What is the condition of the Nashville
and Decatur railroadp There is no neces-
sity under the heavens for the Nashville
and Decatur railroad to pass from the
hands of its stockholders. Why7 Because
it is paying road. 1t pays far better than
any road of its length in the South, and
in order to prove this to your satisfaction,
read from the last report of Col. Sloss,
President of the Nashville and Decatur
Railroad Company, submitted to the last
regular meeting ofthe stockholders, in the
city of Nashville:
To show that there Is no necessity on
the part of the Nashville and Decatur Rail-
road Company to lease their road, the fol-
lowing figures showing its financial con-
dition, taken from the printed annual re-
port of President Sloss for 1870, are
given:
State debt as per report. 465, ,176 2S
Interest unpaid to July l, 1S70...... 16S, ,85c 81
Total debt 2s9s, ,Ol2 Il
This debt was ersdicated by the issue
Of bonds Of the company, for which
the read is mortgaged, to the
amount OF. ~, ,lOO,OO0 "
To which add amount Of second mort
gage bonds issued by company...... 25,s00 %
Total present bonded debt of comps-
ny, (Which has 80 years to run) ga III, 500 N
The interst on which is. Se4, ,261 90
Int. on debt to government. e,8l6 90
Total int. to bep'd each yr.$114,O67 90
The immediate liabilities OF the Company are:
o. 8. Govt purchases. $2T1 ,5s7 a
Less claim on Govt. 23,742 06
S 247SSs it
Special loans lac, 500 IS
Bills payable. 36,945 "a
Pay rolls and connecting roads. ... 1850 s.
Total immediate liabilities .s 447,sI2 q
The Govt debt is in the courts and
has not to be paid immediately
subtract. ACKNOWLEDGEMENTS. 247,s55 IL
eaving immediate liabilities Of Co.'s 1s9, ,45T L
Ossh sssets of the Company are:
S399 $40 90 in Tennessee bonds st CSC
on nsi............-......... 259,94s 90
Due from agts and connecting roads. S3,3l6 II
Cash on hand. .......................-- h,7l6 Il
Available means of Company SO7 9sS Is
Immediate liabilities, as sbove......, 1879 457 Il
slos,5a6 o.
RRCAPIIULATIoR.
Amount bonded debt, to run 30 yrs. s., 1873 500 0C
| Cash assets. .S3UI,9SS 1S
Immediate liabilities 1S9,457 IL
Excess OF cash over Hsbil-
| tiles. .,......... ...,....- S10S, ,526 06
| Net earnings OF road in 7O.SI64, ,s47 O6
| Interest on debt 1l4,O6I 90
| Excess after paying all ex-
| pense. ........... .$50,7 ,76o co
| This is the excess after paying interest
on debt and all expenses of the road.