Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-03-30
THE RAILROAD LITIGATION.


MANCHESTER, March %, 1S71.-Our
citizens here were greatly surprised few
days ago, when, with the evenings mail
came the news of Gan agreed decree" in
the Chancery Court at Nashville, In the
case of the State against the McMinnville
and Manchester Railroad Company. On
the Goth of February, at meeting of the
stockholders, in which, at least seven
eighths of the stock was represented-a
resolution was unanimously adopted, in
structing the directors to employ counsel
and resist the sale of the road Sat all
hazards" and to the last extremity, even
to the Supreme Court of the United
States. No wonder then, that this
community was astonished beyond
measure on learning that de-
cree had been ''agreed on" especially
when the attorney charged with the con-
duct of the case, made strong speech
in that meeting in favor of resistance,
and was at meeting of the Directors
Immediately following, elected director
to fill a vacancy. Now, to the uninitiated,
it appears very strange that the counsel
in the case-himself a director, and per-
fectly familiar with. the wishes of the
stockholders, expressed in the most en-
phatiC terms at meeting in which he
was prcsent-should, in the face of such
instructions, quietly submit to an agreed
decree for the sale of the road. 1t does
not matter what his views may have been
in regard to the policy of the stock
holders, or what changes had taken place
in his ideas subsequently, he had no
right, unless another meeting of
stockholders had rescinded that res
olution, to take upon himself the
responsibility of acting in direct aGtago-
nism to specific instructions. If the
Directors subsequently instructed him to
such q course, then they and not their
counsel should be held responsible. What
appears more singular still, is the fact,
that no attempt ON the part of the DireC-
tors or their counsel TO answer the bill, or
to demur to it in any way, to gain time
in which to'mature plans for more effect
ual resistance was ever made at all, leav.
ing the inference that it was their wish
that the case go by default, unless an ar
rangement could be effected, precisely
suited to their own plans, the wishes of
the stockholders to the contrary nOtwith-
standing.
The fact is there is big job in this
thing, and there are parties anxious to be
Gin at the death" The generosity of
the State toward the delinquent roads
leaves large margin for operators, and,
like hawk, they are watching the help
less brood of stockholders, eager for the
chance to insert their talons. neither
belong to nor am controlled by any of
the prospective benefciaIies on any side
of the question, nor am l, even, much of
a stockholder, but l am taxpayer, and
as such represent a class deeply inter-
ested, and l think that if the State has
to lose two-thirds of the amount
of the roads Indebtedness, which the
people must eventually pay with inter-
est, then the men who, in conjunction
with the State, paid out the m ney, dollar
for dollar to build it, should reap some
of the advantages to be derived from the
generous action of the State toward it.
For this reason the stockholders here do
not propose to be satisfied with sop Offered
TO innocent directors by the party of the
second part in this unauthorized proceed
ing, in the shape of void clause in this
agreed decree, ''that the running of the
road shall be unchanged and perpetual"
They do not intend that the very men
who sucked all the life blood out of the
old concern shall be allowedtO ''cOme in"
now, and gobble up the remainder for
song. To do so would be to perpetrate
folly of which l do not believe them
capable, weak and blind as the k7lO1Ojng
ones may esteem them. And tell you,
sirs, the secret history of the manage
ment of the McMinnville and Manchester
Railroad for::..the last few years must
''come out" 1t is due alike TO the State
and the stockholders and as aUeU to the
Directors who have not shared the profits
of the contractors and bridge builders.
If there be an agreed decree made in the
case, let the stockholders, all Of them,
be party TO it, not in name but in fact.
Let the company be reorganized, and an
agent appointed to buy it, not for himself
or combination, but for the company.
In the mean time fight it off till reor-
ganlzation can be effected, and do not
let few men, in defiance of the general
wish and positive instructions, press the
matter to conclusion favorable only to
themselves. ''TENNIsoN.
The last number of the jackson Iete-
graph has the following paragraph, in
reference to Hardwicke, the villain and
bagamist, who recently married young
lady at Jackson, and who was subsequent
ly arrested for various crimes and taken
to Arkansas: "We learn from Capt. Nc
Cutchen that the parties who have been
swindled by this scoundrel are disposed
to detain him at Little Rock few days,
in hopes of getting his friends to reim-
burse them to some extent for their loss.
Also that the parties who carried him
from Philadelphia are out several hundred
dollars and desire to keep him there until
the Legislature will make an appropria-
ton to pay the bill. Capt. McCutchen
reports that the gamblers are backing
Hardwicke up with money to fee lawyers,
etc. He belongs to that fraternity, and
is supposed to have divided with them
the 80, 900 that he swindled his partner
out of"