Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-03-08
SHELLEY CoUs-rY QUARTERLY COURr.l
LaFUaRT TERN =

JAFUARY TERN.
THURsuAT, January s.. ISL
State or Tennessee, shelby County-County
Court, Quartely Term, January, ISL
In Open Session.
The Selma, Marion and Memphis Railroad
Company o. euuessse and ssissippi. FOR
merly the Memphis, Holly Spring.. Okol0ua
and selma Railroad Company. by theiF Presi-
dent, n. H. Forrest, and a majority Of the
Directors having applied 10 this Court %
take, on behalf OF the county of shelby. Five
Hundred Thousand Dollars gs500,C00l Of the
Capital stock Of said Company. and beIiav-
ing thar The interest OF the people OF the
COunty VIII be greatly promoted By the
speedy construction Of said Rallroad;
It Is therefore ordered by the Court. Thai
1--WE annQred Thousand Dollars be sub
scrtoed 70 the capital stock OF the sad Com
pauy to be paid in nVe auuua Lustaimeuts
OF one hundred Thousand Dollars each.
without interest, upon the following terms
J. The Western terminus Of said Railroad
shall be ami always remain al Memphis,
Tennessee.
2. The money paid under this subscrIutfou.
or the csrtIhcats OF Indebtedness hereinafter
authorized 70 be issued, shall be applied
First-To the grading, bridging "A masonry
Ofthat portion OF the road within the Comfy
OF shelby, commencing the work at Mem
phis and completing lt continuously. ready
for the supeIstructure, 70 the County line.
SecOndly-IO the purchase or cr0ss-Ies, iron
rails and f-astenings sufficient TO lay the track
within the County OF shelby. Ihirdly-T0
the purchase of locomotives and ears suf-
hcient TO operate That portion OF the road
within the ounty. and to the LAYING OF the
track over the same tOurthly-IO the cree
ton OF such uepots7 PLATFORMS section houses
machine shops, turn tables, water stations
and The purchase Of such machinery tor the
shops as may be necessary for the &c su0mi.aI
operation Of the road. F~lfthly-Sh0uld any
portion Of the subscription remain al sr that
part Of the rOAf in shelby County is fully
completed aud equipped as a hrst-cl ass road
in every respect, then such uueXpended pOr-
ton shall be applied % the extension OF tHs
road into Mississippi. in the same order and
for the same purposes as required to be eZ-
pended In shelby County; ana 10 part OF the
money hereby subscribed, uar OF the certid-
Gates of indebtedness hereinafter authorized
TO be issued, shall De used for the payment Of
officer salaries, commissions. office rent.
printing, stationery, or other general or mis-
C~elIaueous expenses of the company, nor for
right of way or depot grouu1s, and any VGO
latIOu Of these conditions on the part of the
subscription wholly void, as 10 all further
payments.
s. Before any portion Of the money herein
subscribed shall be paid OverUD said Railroad
deb edUsss 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 Top1-
graphical Map Of the final location Of the
Road IA shelby County, and an Hccurale pro-
dle of tie same, vi the quantities OF
masonry, ami OF Irlug ug 10 be done on each
section ana a copy OF the speclucauuus and
lHFLl OF contract NAIArL MLlHA the AtEk Is UE-
qulrru 70 ne done Wnlcu map proule and
specification shall be certified by the Chief
Engineer OF said Road under oath as correct.
4. The annual instruments shall De assessed
by the Court each year at tue same time
that the other County t4Xes are assessed, and
sh All be collected a. the same time other
County taxes are collected
B. AT the term of the Court each year pre-
cediug the term at which the taxes are to be
aszt Ssed. the court may appoint one or more
competent ttVIl engineers, of high character
FLn H.f-.arrHH- HrnL ELH|I hnHHl mA aHHrnHL#..r.
with SAID it&firUau, 20 90 On The line Of said
Railroad auu make an accurate measure
ueuI Of all work done, an account OF sIl
Lbe locomotives cara machinery buildings,
and material delivered Tor the Road. and
make q detailed. IEemiZed repOrtO OF the same.
and the value thereof IN detail, estimated al
ia and reasonable prizes Tor each item.
said report rbau be inside Dy the said EugI-
ueers under oath TO tie Court at the next
term following their appointment; aud the
President and Chief Engineer OF said Com
Ehau be bound TO AFFORD said Engineers
appointed uy the court access to their OOE-.
notes OF the work, and every aellIty for are
of the same.
{. The President of the said company shall
file 8 statement under oath with tus Clerk OF
the County Court each year, c-0temporane-
ausly with the report Of the said engineers.
statement shall show fully the eX-
pendiLure Of all money received from the
subscription of shelby county, or from the
OF indebtedness hereinafter au-
thorized 10 be issued, showing when and to
whom paid, and on What account.
Z II lt appear 20 the salisfactlun OF the
court from the report of the said engineers.
that Tie mouey received from said county
subs ripLiOu. OF the cert ucate5 or indebted
ness hereinafter authorize 90 be issued have
been faithfully and economically applied for
the purposes expressed ia article 2 OF the de-
cree, tuen no further tax shall be assessed or
levied for that purpose, and no more Certid-
Gates Of Indebtedness snail be issued and the
subscription as TO the balance OF the install
meuts snail be void.
s. In collecting The tax, the Tax Collector
shall give each taxpayer a separate receipt
for the amount or the tax paid by him or her
on account of this SUBSCRIPTION, which re-
ceIpt shall entltle the holder thereof to re-
cefve from the Railroad Company, CsTJih-
Gates OF stock IN said company 20 Theamenut
Of the receipts when presented to the Secrs-
.ary o. said company, in sums OF twenty
dollars, or cert1dcates OF twenty-five j.
aud Tor any excess over twenty-five
dollars, or multiples OF twenty-hvs dol ars,
Ia the aGn8unt of the receipts presented, the
OF the Railroad Company shall
give to the holder "a receipt which shall Ike
be convertible into the stock OF the said
company, When presented by the holder, in
of twenty-five dollars or its multiple
g.. The acceptance by the said Railroad
Of any portion of the money col
ected under this subscription or Of the GER
.ihcates OF Indebtedness hereinafter author
zed to be issued, shall bind the company
ully TO al the terms and conditions O. this
inscription as set forth ia the foregoing
luut following articles.
My when ratified by the constitutional ma
oriUy OF the legal voters of the G -unby, and TO
their sense OF Juls cues ION, lL As hereby
lrdered, tina the Sherlm OF the county make 4
publication in two daily newspapers pub
isbed in Memphis, OF an election to be held I
or that purpose, at the regular voting pre-
iuets Of the county, on Saturday, the 18th of
March, 1871, and that q cop OF this decree 4
nd q statement Of the financial condition of I
county be published in connection with
UGH election notice for thirty days proceed
the election, in two daily papers pub
In Memphis
u. Those who favor the subscription shall
e said election write or print on their ball
OTIS thewOrds, For subscription, A." and those
VhO OppOse the subscription shall write or
,rfnt on their ballots the words, +" No SUBJ
criptiOn " and the Sheriff shall Immediate
y after the election make due returns To the
Jerk Of the COunty Court, OF the number of
he votes pOlled Tor and OF the number Of 4
.Otes pOlled against subscription.
T. 10 being the object Of the Court to enable
be Railroad Company 70 commeucet the Work
S speedily as possible
1t is therefore Ordered, That If it shall ap-
from said election returns that the sub
has been ratified by The required
institutional vote the Chairman OF the
Ounty Court shall Immediately upon the
ling Of the map, profile and specifications
5quIred by article 3, issue to the said Rail-
Dad Company certificates OF Indebtedness Of
helby county to the amount Of hundred
dollars. said certificates shall be I
sued in such sums as tine President may di-
express on their face that they are I
II nA4nEAAHaAgN nA aN4lA 10 AAAe 9EAALEn AaALlHl Z
Memphis Railroad Company, and that
are receivable in payment OF said spe-
nc tax And likewise each succeeding year,
IL shall appear TO the satisfaction of the {
curt, from the reporG Of the Engineers ap-
as provided in article 8 Of this decree,
nat the money arising rom the tax OF the
receding year, or the certificates Of iudebt-
dness issued the preceding year, nave been
l1thmlly and economically applied as re-
uired by article .. then the chairman OF the
Ounty Court shall issue TO the railroad COM
nmE nma hundred NnnHgrnI IaNNnMULE amHH#H D
ites in the same manner and form as hareiu-
8fore provided, tuI The full amount Of i've
undred thousand doIlars has been issued
The certlucutes OF Indebtedness for each wear I
lalI be numbered from one upward. conseeu-
veIy. in the order Of their ISSUANCE. and shall
2 signed by the Chairman Of the County
1urt and couuteTsigned by the Clerk Of the
Juuty Court, and have the seal of the county
.tached; and the said Clerk shall keep an
Sael register OF each certified issue, showing 4
hen and 10 whom Issued, and the Chairman
the Court shall take the receipt OF the
,easurer Of the said railroad company for all
rttdcates issued, whicn receipt shall Do pre-
ana the said Clerk shall al each meet
The Court mex following the issue of GER
report 20 the Court the fun amount
sued to date OF that meeting.
The Court shall, In each case. provide proper
IApensaIiOn for the engineers authorized 10
appointed under article b OF tE3s decree :
Pc money OF cerlueales s9dt enly oe 30
1t by said company Tor work actually q9ne
material actually delivered, OF the KIND =
"a class specified in article OF this decree
certificates when received pV the TAX +
fn payment Of this specific tax. or I
hen redeemed by th6County treasurer shan :
fn9rredfoteIv cancelled by those officers re- Z
.ectIveiv. and each shall make "a repoFt quar- 5
to the Court Of the amount received on .
deemed and Cancelled Una lpou telelsiAe :
~ fnsfaf1sant OF the certificates herein z
lore Brqyided for, said railroad company J
eW ofva n 0udim the sum Of one hundred z
ousiad dollars, with such suretles as shall :
'eafsfaeforv to the Chairman OF this Court. 2
odfffoned that said certificates shall be in Z
od faith applied % the objects and purposes 2
eefded Fu article 2 Of this decree and that z
cartiheates shall not be used or negotiated 2
said company &C less than elghty-hve p
the dollar. and that said railroad company 8
an renew said bond 90 any time that III NAV C