Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-03-06
sHE1BY CoUSr4 QUAa4Es1r CoURr.)

The selma, Marion and Memphis Railroa
Company tennessee and 81 sslssippi. for
and Selma Railroad Company, bv their Presl
dent. n. b. Forrest, and a majority Of tn
Directors, having appled TO tDis court q
take, on behalf OF 1.-THE County OF sbelbv. Efv
HundraH Tbousg,4 nCJfe-- Tg-rr IIT ~
Capital stock Of said Company, and beIfev
Ing that the interest Of the people Of tn
County viii be greatly promoted by Tn
speedy construction OF said Railroad
Ii is therefore ordered by the Court, Tsa
Five Hundred thousand Dollars be sub
scribed to the Capital stock Of the said Com
pauy, to be paid In five annual iustaInent
Of One Hundred Thousand Dollars each
without interest upon the following term
and conditions, viz:
l. The Western terminus of said RaIIroa,
shall be and always remain al Memphis
Tennessee.
2 Tn money paid under this subscrfptfOu
or the Certificate Of Indebtedness hereinafte
authorized to be issued, shall be applied
First-TO the grading, bridging and masonry
Of that portion Ofths road within the Count
OF shelby, commencing the work at Mem
phts and completing Il continuously. readl
Tor the superstructure, 10 the County line
SecOndIy-IO the purchase Of crOss-tleB, iron
rails ana fasteuings sufficient tOlHy the tract
| within the unit o. Shelby. ThirdIy-Ij
the purchase Of locomotives and cars sur
dcient 10 operate that portion OF the roaC
within the County, and TO the laying Of JhI
l ira k over the same FOurthly-TO the cree
ZION OF sucn depOs, PLATFORMS section houses
machine Shops turn tables, water stations
/ and the purchase Of such machinery for the
/ shops as may be necessary for The &c monica.
I operation OF the road. fifthly-Should any
I portion Of the absorption remain az or that
| part OF the rOat IN shelby County is fully
/ completed aud equipped as a hrst-clsss road
in every respect, then such un-eXpgnded pOr.
I ton shall be applied 70 the extension Of the
road into Mississippi, In the same order and
for the same purposes as required 10 be eX-
| pended in shelby County and 10 part OF the
money hereby subscribed, nor Of the certid-
cafes OF Indebtedness hereinafter authorized
70 be issued, shall be used for the payment OF
Ofieera' salaries, commissions, office rent,
printing stationery, or Oiher general or mis-
e~ellane0us expenses OF the company, nor for
right Of way OF depot g~rOunCs, and any ylO
latiOn Of these conditions on the part of the
said Railroad Company shall render this
subscription wholly void, as 70 all iurUIer
payments.
subscribed shall be paid over to I'D Railroad
Company, and before any certificates of in
deb edntss shall be delivered TO the said
Railroad Company. the President OF said
Company shall hle with the Clerk OF the
County Court an accurate and full T0p0-
graphical Map Of the nnal location Of the
Road in Shelby Count and an accurate pro-
hle OF the same showing the quantities OF
excavation and borrowed embaukmeut, OF
masonry, and Of bridging TO be one on each
section, and a copy OF the specifications and
form OF contract under which the work is re-
quired to be done, which map. profile and
specification shall be certified by the Chief
Engineer of said Road under oath as correct
g. The anuua instruments shall be assessed
by the Court each year at tue same time
that the other County taxes are assessed, ana
shall be collected &C the same time other
County taxes are collected
s.. At the term Of the Court each year pre-
ceding the term at which the taxes are 10 be
assessed, she Court may appoint one or more
competent civil Engineers, Of high character
for integrity, " no shall AVE DO connection
with sand ba.lluad, 10 90 on the line Of saId
Railroad and make an accurate measure
menL OF al the work done, an account Of all
the locomotives, cars, machinery, buildings.
and material delivered for the Road, aud
az a laHuHNaL HHaHanHVaI HaHnsnHH Of HTn HHHnM
and the value thereof in detail, estimated at
far and reasonable prices Tor each item.
Said report shall be made By the said Eugi-
neers under oath To the Court at the next
term following their appointment; and the
President and Chief nginee OF said Com
pauy shall be bound 90 afford said Engineers
appointed by the Court access to their book.
notes OF the work, and every facility tor ar-
irving at a correct measurement and yalue
OF the Eau-e.
8. The President OF the said company shall
Tile a statement under oath with the Clerk OF
the County Court each year, C8tempOrane
ously with the report Of the said engineers.
which statement shall show fully the ex-
penditurs Of all money received from the
subscription of Shelby county, OF nom the
certificates Of Indebtedness hereinafter au-
thOTized to be Issued. showing when and TO
whom paid, and on b account.
Z. If Ii appear to the satisfaction of the
court from the report Of the said engineers.
that the money received from said county
subscription, or the certificates OF indebted
ness hereinafter authorized to be Issued. nave
DEau AdlLlAI4IA anu tCOEunllcALLI applied L1E
the purposes expressed 10 article z OF the de-
cree, tBen no further tax shall be assessed or
levied for that purpose, and no more certid-
Gates Of indebtedness shall be lssued and the
subscription as TO the balance OF the install
ments snail be void.
s. In collecting the tax, the Tax Collector
shall give each taxpayer a separate receipt
FOR the amount Of the tax paid by him or her
on account of this SUBSCRIPTION, which re-
Ceipt shall entitle the holder thereof to re-
ceive from the Railroad Company, CerJin-
naHna nj stock in said eUmnnmE To the umaUmr
OF the receipts when presented TO the Secrs-
tary OF said company, In sums of twenty
nye dollars or ctrtlncaJss OF tWenly-nve 9"l-
lals, and Tor any excess over twenty-five
dollars or multiples OF twenty-five dol airs,
IN the amount OF the receipts presented the
Secretary OF the Railroad Company shall
give to the holder a receipt which shall like
wise be convertible into the stock OF the said
company, when presented by the holder, in
sums of twenty-five dollars or its multiple
8, The acceptance Dy the said Railroad
Company of any portion Of the money coli
leCUed under this subscription or Of the GER
tihcates or Indebtedness hereinafter author
lied TO be issued, shall bind the company
July to all the terms aud conditions o. this
subscription as set forth in the foregoing
and following articles.
only when ratified by the constitutional ma
jortty OF the legal voters of the county, and 70
test their sense Of this ques ion, IL Is hereby
publication in two daily newspapers pub
Iished In Memphis, OF an election TO be held
IuE LI&L purpose ~ tue AEA1AAA HNAAlE pre-
cinots of the county, on Saturday, the Z5tn of
March, 1871, and that a copy OF this decree
and a statement Of the nanci condition of
the county be published IN connection with
such election notice for thirty days proceed
ing the election, In two daily papers pub
lished in Memphis.
H. Those who favor the subscription shall
at said election write or print on their bal
lots the words, sFOr subscription" and those
who oppose the subscription shall write or
print on their ballots the words, No sub
anrFnFfrn ~ and the &ngT1n shall 1mmaulafea
ly after the election make due returns 70 the
Clerk Of the County Court, OF the number OF
The votes pOlled for and Of the Number of
votes polled against subscription.
u. 1t being the object OF the Court to enable
the Railroad Company to commence WORK
as speedily as possible,
IL is therefore, ordered, That II 1t shall ap-
pear from said election returns that the sab
scriptiOn has been ratified by the required
constitutional vote, the Chairman Of the
County Court shall Immediately, upon the
lin Of the map, profile and specifications
required by article 3, issue to the said Rail-
Company certificates of Indebtedness of
county to the amount Of one hundred
dollars. said certificates shall be
issued In such sumsa as the President may d.
rect. and express on their lace hat they are
for subscription of stock to Ia selma, Marion
and Memphis Railroad Company, and that
they are receivable in payment OF said spe-
cihc tax. And likewise each succeeding year.,
II 10 shall appear to the satisfaction Of the
Court, from the report Of the Engineers Rp-
as provided in article q this decree,
the money arising from the tax Of the
year, or the certificates Of indebt-
issued the preceding year. hav been
faithfully and economically applied as re-
quired by article 2, then the chairman Of the
County Court shall issue to the railroad COM
pany one hundred thousand dollars of eertid-
in the same manner and form as herein-
before provided, tin the full amount of i've
thousand dollars has been issued.
The certificates OF Indebtedness fOreach year
be numbered from n upward, cOnsecu-
lively. IN the order of their issuance, and shall
be signed by the Chairman Of the County
Court and cOunteFslgned by the Clerk Of the
County Court, and have the seal of the county
attached and the said Clerk shall keep an
exact register Of each certified issue, showing
When and to whom issued, and the Chairman
the Court shall take the receipt Of the
OF the said railroad company for All
certificates issued, which receipt shall De pre-
the office of the Clerk Of the County
Court; and the said Clerk shall at each meet
titicates, report to the Court the full amount
issued to date OF that meeting
The COurt shall, in each case, provide proper
compensation for the engineers a~ulnOrleeu 20
be appointed under article 3 OF this decree;
The money or certificates shall only ue PatU
by said company for work actually qons
or material actually delivered, OF the hlhu
class specified in article 2 otJnls decree;
The certificates when received by the Lax
Collector in payment o. I1ts TP3sSsurar sTa1
be Immediately Cancelled BY Lhose oLLCeLs r.
gpsetiveIy. and each shall MAKE q fepOIt q1a4
tarIy to the Court OF the amount teCrlfe1 oI
reJSarSed and cancelled. That upon receiving
~ insfaIment OF the certificates herein
,re nrovided for, said railroad company
e1sl1 Give a bondin the sum OF one hundred
dollars, with sueh sufetles as shau
~ sefisfaeforv to the Chairman OF this Court,
that said certificates shall be In
rood faith applied to the objects and purposes
Snacihed in article 2 OF this decree ana that
s5fd certineates shall not be used OrneRotiated
said eompany at less than eighty-hYe cents
IN the dollar, and that said railroad company
shall renew said bond at any time that it may
be required to &c 50 bEOrder Of this Court
Ayes-Esqrs. Ligon, Duncan, Giles, Winters.
Sneed, fui1am, Caldwell. Crews,
GlissOn-lb.