Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1871-02-27
Five Hundred Thousand Dollars,
Selma, Marion and Memphis Railroad Com
pany of Tennessee and Mississippi,
SHELBY County QUARTERLY COURT, !
JANUARY TERN,

THURSDAY, January D, 1911.
State of Tennessee, Shelby County-County
Court. Quarterly Term, January, 1871.
In ODen Session.
The Selma, Marion and Memphis Railroad
| Company of Tennessee and Mississippi, for
merly the Memphis, Holly Springs, Okolona
and Selma Railroad Company, by their Presi-
dent, n. b. Forrest, and Il majority OF the
Directors having applied 10 this Court to
take. on behalf of the County of Shelby, Five
Hundred thousand Dollars (S5OO,UO0 Of the
Capital Stock of said Company, and believing
that the interest of the people OF the county
will be greatly promoted by the speedy con-
struction Of said Railroadi r
IN Is therefore ordered by the Court. That
Five Hundred Thousand Dollars be sub
scribed to the Capital Stock Of the said Com
papy. to be paid in five annual installments
of one Hundred Thousand Dollars each,
without interest, upon the following terms
and conditions. viz:
/. The Western terminus Of said Railroad
shall be and always remain at Memphis,
Tennessee.
or the certificate Of indebtedness hereinafter
authorized to be issued, shall be applied !:
| First-To the grading. bridging and masonry
| of that portion Of the road within the County
| Of Shelby, commencing the Work al Mem
phis and completing it continuously. ready
| for the superstrueture, TO the County line.
/ Secondly-rO the purchase Of crOss-ties, iron
| rails and fastenings sufficient to lay the track
within the County Of Shelby. Thirdly-IO
| the purchase Of locomotives and ears sum
| Gent TO operate that portion OF the road
within the County, and 10 the laying Of the
| track over the same. fourthly-IO the cree
/ ton Of such depots, platforms, section houses,
machine shops, TURNTABLES, water stations
and the purchase Of such machinery for the
| shops as nay be necessary for the economical
! operatiOn OF the road. fifthly-Should any
portion Of the subscription remain after that
/ part Of the road in Shelby County Is fully
completed and equipped as hrst-class road
| in every respect, then such uneXpeHded por-
! ton shall be applied to the extension Of the
road into Mississippi. in the same order and
for the same purposes az required TO be ex-
| pended in Shelby County; and no part Of the
| money hereby subscribed. nor Of the eertih-
| Gates of indebtedness hereinafter authorized
| 10 be issued. shall be used for the payment OF
officers salaries, commissions, once rent
! printing, stationery. or other general or mis-
I ceIlaneous expenses Of the company, nor fQr
right Of way or depot groundg, and any viola,
ton OF these conditions on the part OF the SAID
| Railroad Company shall render ms sun
scription wholly void. as 10 all further pay
Il Before any portion Of the money herein
| subscribed shall be paid over 20 said Railroad
| COMPANY, and before any certificate Of in:
dsbtedness shall be delivered TO the said
Railroad Company. the President Of salu
Company shall file with the Clerk Of the
Comfy Court an accurate and full lopo-
graphical Map OF the final location OF me
Road Ia shelby County. and an accurate pro.
Gle Of the same, showing the quantities %
excavation and borrowed embankment. q
masonry. and Of bridging to be done on each
| section and a copy Of the specifications and
form 81 contract under which the work Il re-,
quired 10 be done, which map, probe ana
medication shall be certified BY the Chiel
Furineer Of said Road under oath &C carect-
4. The annual attachments shall be assessed
by the Court each year AZ the same umi
! that the other County taxes are assessed. AM
| shaU Be collected az the same time othel
| County taxes are collected.
s. At ne term Of the Court each year pre-
cedinE the term at which the taxes are 70 ?.
, assessed, the Court may appoint one OF mort
competent Civil Engineer, Of high eharaftsl