Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1871-03-07
SATURDAY, 25th MARCH, 1871
Selma, Marion and Memphis Railroad Com
pany Of Tennessee and Mississippi,

puohened before tne uhy OF tne oiocbiohs
| MARCUS j. WRIGHT,
Feb. %, 1871. Sheriff Shelby County.
SHELBY County QuARTERLY COURT
l. M JANUARY TERN, fsn Z
THURSDAY, January 8. 1911.
State of Tennessee, Shelby County-County
Court. Quarterly Term. January, ISL.
f r. o sSm sss1 Marion and Memphis Railroad
Company of TENNESSEE and Mississippi, for
merly the Memphis, Holly Springs, Ok0lona
and Selma Railroad Company, by their Presi-
dent. N. b; Forrest and majority Of me
take, on behalf Of the County of Shelby, FIVE
Hundred Thousand Dollars (S5OO, 600 of the
Capital Stock of said Company, and believing
that the interest Of the people Of inc ToSn ,,
struction of said Railroad; oi
Ii is therefore ordered by the Court, That
Five Hundred Thousand Dollars be sub
scribed to the Capital stock OF me said Com.
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,
3. The money paid under this subscription,
or the certificate Of indebtedness hereinafter
authorized
First-To the grading, bridging and masonry
of that portion of the road within the County
of Shelby, commencing the work at Mem
phis and completing IL continuously, ready
Secondlylfo the purchase of cross-ties, iron
rails and fastenings sufficient TO lay the track
within the County Of Shelby. Thirdly-To
the purchase of locomotives and cars sufii-
eienf to operate that portion OF the road
within the County, and to the laying Of the
track over the same. Fourthly-Io the erec-
tion of such depots, platforms, section houses,
machine shops, turn tables, water stations,
and the purchase Of such machinery for the
shops as may 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 a frst-class road
| in every respect, then such unexpended -por-
ton shall be applied to the extension of the
road into Mississippi, in the same order and
| for the same purposes as required TO be ex-
| pended in Shelby County; and no part of the
money hereby subscribed. nor of the certii-
| Gates of Indebtedness hereinafter authorized
| to be issued, shall be used for the payment of
| officers salaries, commissions, ONCE rent,
printing stationery, or other general or mis-
ceIianeous expenses of the company. nor for
| right of way or depot grounds, and any VIOLA
tion of these conditions on the part Of the said
Railroad Company. shall render this sub
| scription wholly void. as to all further pay
8. Before any portion of the money herein
subscribed shall be paid over to said Railroad
Company, and before any certificate of in
debtedness shall be delivered to the said
Railroad Company. the President of said
Company shall file with the Clerk of the
County Court an accurate and full Topo-
graphical Map of the final location of the
| Road in Shelby County, and an accurate pro-
| file Of the same, showing the. Quantities Of
excavation and borrowed embankment, of
masonry, and Of bridging TO be done on each
section, and a copy Of the specifications, and
| form Of contract under which the work is re-
quired to be done, which map, profile and
| specification shall be certified by the Chief
| Engineer of said Road under oath as correct.
4. The annual installments shall be assessed
by the Court each year at the same time
that the other County taxes are assessed, and
| shall be collected at the same time other
County taxes are collected.
5. At the term Of the Court each year pre-
ceding the term at which the taxes are to be
assessed, the Court may appoint one or more
| competent Civil Engineers, of high character
| for integrity, who shall have no connection
with said Railroad, to go on the line Of said
| Railroad and mako an accurate measure
ment Of all the work done, an account Of all
| the locomotives, cars, machinery, buildings,
and material delivered for the Road. and
make detailed. tented report of the same,
and the value thereof in detail, estimated at
fair and reasonable prices for each item.
| Said report shall be made by the said Engi.
neefs under oath to the Court at the next
term following their SPpGin.ns5t; Ia; and dd the
pany shall be bound to afford said Engineers
appointed by the Court access to their books,
/ notes of the work, and every facility for ar
/ irving at a correct measurement and value OF
| the same.
s. The President Of the said Company shall
| file statement under oath with the Clerk OF
| the County Court each year, cotemporane-
ogsly with the report Of the sad , En gin
penditures Of all money received from the
subscription of Shelby County, or from the
certificates of indebtedness hereinafter au-
thorized TO be issued, showing when and TO
| whom paid, aud on what account.
Z. If it appear 10 the satisfaction Of the
court from the report Of the said engineers,
that the money. received from said cldnty sub
| seriptiOn. or the certificates Of Indebtedness
| hereinafter authorised 70 be issued, have been
| faithfully and economically applied for the
| purposes expressed in article of the decree,
| then no further tax shall be assessed or levied
| for that purpose, and no more certificates OF
| indebtedness shall be issued and the subscrip-
ton as to the balance Of the installments shall
3. In collecting the tax. the Tax Collector
| shall give each taxpayer a separate receipt
| for the amount Of tax paid by him or her on
| account Of this subscription, which receipt
shall entitle the holder thereof TO receive from
the Railroad Company certificates OF stock in
said company to the amount Of the receipts
when presented 10 the Secretary Of said com
/ pany, in sums Of twenty-five dollars, or GER
tifcates Of twenty-five dollars. and for any
/ excess over twenty-five dOllafs, OF multlples
Of twenty-five dollars. in the amount Of the
receipts presented, the Secretary Of the Rail
road Company shall give 20 the holder a re-
eeipt which shall likewise be convertible into
the stock Of the said company, when BTe-
sented by the holder, in sums VI tWeAsy-hve
III me leceplnhhsceS BY the said Railroad
Company of any portion Of the money col
I leeted under this subscription, or OF the GER
tihcates Of Indebtedness hereinafter author
| lied TO be issued, shall bind the Company
fully 10 all the terms and conditions Of this
subscription as set forth in the foregoing and
following articles.
10. This subscription shall become binding
only when ratified By the constitutional ma.
jority Of the legal voters Of the county. and
70 test their sense Of this question: II is hereby
ordered, that the Sheriff Of the county make
publication in two daily newspa pers lu blisped
in Memphis, Of an election. 70 be held for that
county, on Saturday, The 9th Of March. ls7i.
and that copy Oh this decree, and a State
ment OF the financial condition Of the county.
be published in connection with such election
notice for thirty days preceding the election.
IL. Those who favor the subscription shall
at said election write or print on their ballots
the words. For Subscription. and those
who oppose the subscription shall write or
print on their ballots the words, ?" No Sab
scription." and the Sheriff fhall Immediately
oierk Oh 10 CoantT Court, Of the number 81
the votes polled FOR and Of the number Of
votes polled against subscription,
u. Il being the object Of the Court 70 en-
able the Railroad Company 70 commences the
work a. speedily ne possible,
IL 4 therefore ordered. That II Il shall ap-
pear from said election returns that the sub
scription has been ratified by the required con
Ftitutional vote, the Chairman Of the County
Court shall Immediately. upon the bling q
the mar, profile and apccihcailons required