Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-05-04
THE RAILROAD &C
PROMISE

Proceedings of a Meeting OF the
Stockholders in the mcBEfnnvIIle
and Manchester Railroad Conn
pany. held at mcnilnnvfilo, April
1, 1871.
On the first day of April, 1871, in pur-
suance to a call made by Gen. B. ]. Hill,
President and Receiver of the McMinn-
vile and Manchester Railroad, there was
a meeting of the stockholders of said
road at McMinnville.
After a portion of the stockholders had
assembled in the Courthouse, and without
giving time for the President of the road to
call the meeting TO order, Matt Martin
hastily moved that Col. a. B. Robinson
be called to the chair which was agreed
to, and Col. J. H. F'ench was elected
Secretary.
Gen. Hill then in a speech of some
length explained the object of the meet
ing to be for the purpose of obtaining
the sense of the stockholders with regard
to the compromise offered them for the
sale and purchase of the McMinnville
and Manchester railroad. He stated tlst
the State of Tennessee, in kindness to
the Company, and for the benefit of The
section of country through which The
road runs, was willing to sell the road to
the Company for the sum of $S0S, $50 in
State bonds and relinqulsh their lien upon
| the road for the sum of one million one
hundred thousand dollars. He thought
by accepting the liberal proposition of
the State they would gain more st the
beginning of law suit than they could
hope to gain at the end of one. He then
called upon F. NJ. Smith, Esq, to read
the agreed case and the proposed decree
in the same, which were read as follows,
to-wlt:
AGREEMENT OF COUNSEL.
The bill of the State Of Tennessee against De-
linquent Railroads,
The State of Tennessee by its solicitor
in the above cause, and the McMinnViile
and Manchester Railroad Company by its
solicitor, appear, and in pursuance to the
| provisions contained in the second Sec
ton of the act of the General Assembly
of the State of Tennessee, passed Dec.
| 81, 1870, entitled an act to amend an
act of 1870, chapter 70, for the sale of
delinquent railroad companies, passed
! July l, 1870, have this day made the fol-
lowing agreed cause touching the Nc Mimi.
vile and Manchester railroad, to-wIt:
/. 1t is agreed that the McMinnville
and Manchester railroad is situated in the
counties of Warren and Coffee, with itE
terminus at McMinnviIle and Tuilahoma
and that its officers, agents, and places Of
business are all in the limits of said
counties.
2. II is agreed that process has beer
served on the President aud some of the
Directors of ssid railroad company.
8 Il is agreed that the various acts Of
the General Assembly of the Ststt
of Tennessee, referred to in thu
C mpIaiDaut's bill, have been passed by
said General Assembly as set forth.
1t is agreed that the bonds of thu
State have been issued to the McMinnvill'
and Manchester Railroad Company to thu
amount set forth, and that said bonds
with their accrueing interest, have no
been paid TO the State, save the amour
of - dollars of interest.
g. 1t is agreed that all questions as Il
the jurisdiction of the court over the sub
ject matter, that might have been msd'
by plea, and all matter of defense tina
might have been made by demurrer
shall be considered of by the court, as i
said pleas and demurrer had been regI
larry filed.
6. 1t is agreed that the court may de
eide all questions of law and fact, as Sc
out in this agreement, without any forma
pleas, demurrer, answer, and that afte,
investigating the whole case, shall rendel
such decision as equity and the law de
msnds, under the several acts of the Legis
lsture in the bill mentioned, and th,
prayer of the bill.
z. 1t is agreed that the length of sail
railroad is thirty-fiVe miles, and that salt
railroad connects with the Nashville AM
Chattanooga Railroad at Tullshoma, AM
is without any other railroad connections
1t is also agreed that the company is insol
vent, without any prospect of paying tn
sccruing interest on the State bonds issue
to it, or any sinking fund to meet tue pay
ment Of the bonds at maturity.
W. F. COOPER,
| u. ii. Ewing,
| w. B. REESE,
| For State.
A. s. COLLAR,
F. NJ. SMITH,
For the McMinnvile and Mancheste
Railroad Company.
DECREE.
State of Tennessee against the Edgsfeld and KeT
lucky Railroad Company ct ais.
Be it remembered that this cause cam
on to be heard on this, the 18th day o
March, 1871, touching the McMinnvill
and Manchester Railroad, before the Hon
E. h East Chancellor, upon the bill o
complainant and the agreed case heretofor
entered into, between MessIs. E. II. Ew
ing, w. F. Cooper and w. B. Reese, so
licitors upon the part of the State, an,
Messrs. A. s. Colyar and F. NJ. Smith
solicitors for the Railroad Company
President and Directors, and portion o
the Stockholders, and upon order
pro c0nfesSO IS to all other parties VIII