Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-07-15

H.
Important Go TIirnpihc Companies
Reports Must be Made 90 the
Secretary of state.
An important circular has bsen issued
by the Secretary of State to various turn
pike Companies in the State, and in order
that they and the people at large may I'M
deTstand the facts in the case, We have
prepared the following statement:
In 1888, by act Of the Legislature, the
State, upon certain terms and conditions,
became subscriber for one-half of the
capital stock of all macadamised, graded
and sauded turnpikes then or thereafter to
be chartered. the States interest in the
several turnpiles throughout the State,
under that act and the acts amendatory
| thereof, amounted to about two aud half
million of dollars, Gin STATE bonds). The
turnpike companies were required to make
reports of the condition of the road and
pay the pro rGta of profits accruing from
the road to the Secretary CT State, as OK
offieio Commissioned Of Internal Improve
ments.
Four or five companies have paid in TO
the Office of the Secretary Of State be-
tween six and seven thousand dollars in
State dividends, but as we understand,
other companies have not reported. The
Secretary of State has sent out to these
companies circular, from which We make
the following extracts: .
Code Section 108L-The Commissioner
shall, If necessary, once year visit and
examine into the condition of each of tbs
roads in which the State is the owner of
stock, and require companies to file state
ments, signed by the President and Secre-
tery, or Treasurer, exhibiting in detail
each item of expense incurred in keeping
in repair and managing such roads, to-
gethsr with all debts and liabilities of said
company.
10S2-Each company shall also furnish
an account current, signed in the same
way, showing the amount of tolls received
each month, or quarter, since tie last set
tItment
1oS3-The Secretary of State, as Com
missioner, shall make quarterly settle
ments with said companies, and complete
and file the same in his Office, and certify
copy thereof TO the Treasurer, and copy
to the Comptroller, on or befors the first
Mondays of January, April, July and o.
tober
1OST-If any company fail or refuse to
settle and make payment as above pro-
vided, the Commissioner shall give notice
OF such refusal to the Attorney General of
the district, who shall institute proceed
ipgs At once against such delinquent COM
pany.
have been thus particular in citing the
law il full, in order that you may fully
understand my duty in the premises. l
therefore reques, !. That you file in this
office, without delay, a. foil and complete
statement, as required by lection 1881.
2. That you also furnish me with an &C.
count current, as required by section
1882. 3. That you report the name of
your turnpike, length, width, and condi-
ton Of same; the number of gates and dis
tances apart; where the road commences
and terminates; name aud postofice adj
dress of the President. Let report end
with first Monday in April, in order that
your next quarterly report will end first
Monday in July. 1t is to be hoped that
you will give this matter your prompt at
tention, and thus save me the unpleasant
alternative of notifying the Attorney Gen
eTal to institute suit, etc. You are re-
quested to report whether you have any
dividend to pay or not, in order that'w
may know condition of road.
Respectfully, T. b. BUTLBE,
Secretary of Safe.