Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-04-23
NASHVILLE & DECATUR Z. R.
Text of the Proposed Lease to
the Louisville Company.
The Question TO be Submitted to the
stockholders at n Meeting to be
Held at Pulaski May 4, 1871.

Stockholders at n Meeting TO be
Held at Pulaski May 4, 1871.
The following is tbs proposed lease of
the Nashville and Decatur Road to the
Louisville and Nashville Railroad Com
paDy. It is to be submitted to the stock
holders of each Company for ratification
or rejection:
The Nashville and Decatur Railroad
Company of the one part, lessons, and the
louisville and Nashville Railroad Com
pany Of the other part, lessees, have made
the following contract of lease, to. wit:
The Nashville and Decatur Railroad
Company does hereby lease TO the Louis
vile and Nashville Railroad Company It's
line of road from the city Of Nashville, In
the State of Tennessee, to Decatur, in the
State of Alabama, for the term Of thirty
500 years, from the day hey take charge
Of it, with all its franchises and privileges,
right OF way, road bed, together with con-
tract with Memphis and Charleston Rail
road for night of way over the road and
bridge of said company st Decatur, SEQ
ton and depot grounds and buildings,
water tanks, rolling stock, machine shops,
ETC., but excluding and excepting from the
lease the Mount Pleasant Branch, the
monied sets, chooses in &C ion, material
on hand, stock IN other corporations, the
claim against the United States Govern
meIt for damages to the Mount Pleasant
Branch, as well as the real estate of the
company not necessary for use in the run
ming OF the road. But the 9 assets re-
| served from the lease, except the Mount
Pleasant Branch and the claims against the
Government for damages thereto, will be
applied as hereinafter provided, 20 the
payment of the debts of the lessorI. And
| said lease is made upon the following
terms aud conditions, viz:
/. The track, road bed. railing,
| bridges, buildings and all other fixtures, TO
be inspected at the commencement Of the
lease, and fully described, and at the term
iuation of the lease like inspection to be
| had, and the lessees shall return the road
in the same condition, as at the commence
ment of the lease or pay the difference, if
| of less value; and all the rolling stock and
movable property to be valued in gold at
the beginning of the lease. and serViceable
rolling stock and property Of the like val
ne, in gold, to be returned at the expira-
ton of the lease or the amount paid in
| gold. The property, monied assets, and
chooses in action of the lessons, on hand
when the lessees shall take charge of the
road other than the Mount Pleasant
Branch, and the claims against the United
States Government, for damages to said
branch, shall be used and applied to the
extipguishment of the debts of the lessons.
II the Mount Pleasant Branch shall be re-
built of the same gauge es the Nashville
and Decatur Road, the lessees bind them
selves to take charge of it and run and
keep it up to the expiration of the lease,
free of charge to the lessons, the earn
ings of said branch belonging to the les,
sees.
2. In consideration of said lease
| the Louisville and Nashville Railroad
Company agree, and obligste themselves
to take charge Of said road and its property
on the first day of July, 1872, or sooner, i
both parties desire it, and keep the same
in good repair and condition, and run sale
road to the full end and time of this lease
They assume, obligate and bind themselves
to pay all the debts and liabilities of sai(
lessons, in which is included their bonded
debt secured by mortgage or otherwise
ard their floating dsbt, both not exceeding
, in the aggregate two million four hundred
and IF Y thousand ($2, 45O, COO dollars, suC
} said lessees assume and oblgate them
| 6SlNGb " pay buC lA'OACob VI bfAlu ucOL dS L
: accrues snd provide the sinking fund 70
the payment Of the bonds under existing
contracts, and pay the bonds at maturity
, And the lessees also agree to execute FL
the contracts and agreements of the lessons
such as contracts with express companies
telegraph lines, etc, and they shall max
: all repairs aud improvements necessary t
= the preservation and running of said roa
! at their own expense, but no Improvement
in the way Of permanent buildings, etc
shall be made without consulting the les
, sors. and if the lessons and lessees cannc
} agree whether the improvement shall b
made, an umpire shall determine the quei
ton, which umpire shall be selected by tn
parties.
: The lessees agree and obligate then
Il selves to pay 10 the stockholders of th
q Nashville and D. catur Railroad Compan
six % per cent annual dividends, paysbl