Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-04-28
THE NASHVILLE AND DECATUR
RAILR0An

To the Editors of the Union and American:
In last week issues of the Franklin Re
vieao and Williamson Journal there appeal
ed notices to the stockholders of the Nash
| vile and Decatur Railroad Company to
meet at Franklin, at the Courthouse on
Monday the oath of April, to consider
matters of grave importance to them.
simultaneously with the insertion of
these notices, there likewise ap-
peared in one of the above mentioned
papers an editorial and in the
| other a communication which indicated
| tie object for which the meeting had been
called In the lease proposed by the Louis
vile and Nashville Railroad Company to
| Nashville and Decatur Railroad Company,
the former stipulated topay the six per cent
dividend to the stockholders CT the latter
at the completion of the South and
North Railroad, unless the last
named company should fail to meet its
interest on the bonded debt contracted
for its construction, in which event the
dividends for the first two years were to
| go in a certain proportion to the satisfac-
| ton Of said interest.
The meeting at franklin was called to
suggest some modification of this obieC-
tionable feature in the lease. and to insist
upon its being SO changed as to make the
| dividends payable, at all events, upon the
completion of the South and North road.
| The appointed day came, the meeting was
held, and Maj. Thompson, representing
the interest of Nashville, and others, were
present and addressed the meeting, which
was respectfully attended during the morn
| ing, but grew beautifully less as the day
| advanced.
The stockholders of the company, who
had assembled for the object above men
toned, were nevertheless willing to hear
| any proposition that the city of Nashville,
| through her representatives and advocates,
might see proper to make; but they lis
tened in vain. They were willing then; as
they now are, to give Nashville the pre-
ference over the Louisville and Nashville
Railroad Company, and were expecting,
every instant, to hear Mel. Thompson OF.
fer some startlingly advantageous pro-
position, They had seen SO much of
printed matter in the Republican Banner,
on the sUbject-hsd heard so much of the
patriotic and magnificent utterances of the
Board of Trade, and the proceedings of the
municipal authorities, as to lead them to
suppose that the object of Maj Thomp-
sons visit to Franklin was to present a
tangible, definite offer, far better than the
one already received from the Louisville
and Nashville Railroad Company. But,
alas, for all human expectations. Nothing
could be extracted from Maj. Thompson but
a vague, iudeterminste, suppositiOu5 hope
that at some day or other the Decatur road
could be leased or sold to better advan-
tage, etc. Toward the close Of the day, as
understand, fJr Twas not present, a reso-
luton requesting postponement of the
meeting at Pulaski, to give the stockhold-
ers further time to consider, etc, was
adopted by about two or three stockhold-
ers, the balance having adjourned.
can safely say, have just returned
from franklin e.. nave seen and con-
versed with many Of the stockholders
there, that nine tenths of them favor the
present lease offered by the louisville and
Nashville Railroad Company, and are vio-
lently opposed to any postponement at
Pulaski on the 4th of May.
If Nashville can by that time offer them
better proposition than the one already
in their grasp, they will take it; but it must
be such proposition ss could be enfoI ced
in the courts, and not an indefinite prom
ise, the compliance with which would de
pend upon the good faith of the city or of
the individuals who are interested in its
growth or development. The great major
ity of the stockholders live out of Nash
vile and have no interest here at all, and
will sell the road to a1y body, natural or
artificial that will pay the highest price,
regardless of every other consideration.
RANDOM.