Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1871-08-23
ALABAMA AND CHATTANOOGA ROAD.
Stanton Writes Letter-GOy. Lindsay in
an Awkward Attitude, if Reports
be True.

ID. y. stanton, President oil the Alabama
and Chattanooga Railroad, has written
long letter to the New York Tribune, in
which he gives IL history of the operations
of the Company, and charges Gov. Lind
say with "ways that are dark and tricks
that are vainn From his statement it APP
pears that the Governor was on the
make" and that, to that end, he sought
an interview with him Stanton, which
Stanton states as follows:
On the 9th day of April last Gov. Lind
say authorized Messrs. Duncan, Sherman
& Co., of this city, to pay the interest on
s ZOO, 900 worth of bonds, S4,000,000 of
which were bonds of the Alabama and
Chattanooga Railroad Company, Endorsed
by the State of Alabama, and $1,000, 900
were State bonds loaned to the Company.
Prior and following this advertisement, |
asked Gov. Lindsay, i'll the presence of
Mr.. a. c. Lippitt, what course he intended
to pursue on account of the payment of
this interest. He informed me he was not
ready to commit himself on that matter.
Subsequently Mr.. Nathaniel Mckay came
into the office of the Company and told
me he desired an interview. | asked him
Ine nature OF MS DuSlDeSS. he lOlu me
that he had had on several occasions, long
conversations with Gov. Lindsay respect
ing the matter of our railroad. He said
that Lindsay had requested him to come to
me and say that if | would make it an OBJ
iect to him Lindsay he would not take
the road away from the Company, but if l
declined to do so he should instruct his
officers to seize it, and that would virtually
destroy the value of the stock, and shut
out those who held claims generally against
the corporation.
He said that Lindsay told him he had
full and absolute power to do as he choose
in the premises which was to leave the
road in the COmpany's possession or take
it away from them. He said that Lindsay
considered himself very popular with The
people of his State, and whatever he did or
advised them to do regarding the matter,
they would acquiesce i'll. He stated that
Lindsay had told him that he had great
confidence in our capacity to complete the
road and operate it so as to make it very
! remunerative. He said that Lindsay told
! him he believed we had n great desire to
| make it a success, and could do so if we
were allowed to keep control Of it, and
| that eventually we would make a very
large sum of money, beside paying all the
Liabilities of the Company, but, in order
to induce him Lindsay to allow us TO
keep possession we must make payment
SllIltltDI
| ducement to have him let the road alone
l asked him how much Gov. Lindsay
wanted. He said he did not know exactly,
| bat Lindsay requested him to get the Com
! pany to make proposition. 1 told him
| would not, and would not advise the Com
! pany to- | stated to him that ii Governor
| Lindsay wanted anything he must state
/ the amount He said that I ought not to
expect Lindsay to make proposition over
| his own signature or in person. / told
! him that if he desired to he paid did not
! consider himsany to o good to tell what lie
wanted. | asked Mckay how he knew so
much about Ludsay's wants relative to
| this matter He informed me that they
/ were ScOtchmen and that ScOtchmcu had
great confidence in each other; beside, he
| said that he had taken the Governor to
/ ride behind his fast horses that lac had
/ dincd with him ut several places, and that
! he had taken him to various places of
! amusement, the character and names Of
! which ! Will refrain from mentioning but
| allow the people to judge. | finally cut
/ Mr.. Mckay Off from the subject Of his
! conversation by telling him that the Com
! pauy would not make Il proposition and
! that they could not pay any money He
! said "Wcll, then Lindsay declares that
/ he viii take possession Of the road, ~
! though he told me he would see Lindsay,
and see what he said about making def
]
/ Meanwhile ! took occasion ~ see Gov.
| Lindsay, and asked him if he would give
| me assurance In writing that he would not
interfere With the road. In reply, he
stated he had not made up his mind fully
| as 10 Wla. course he would pursue. He
! asked me when / thought the earnings of
I the road would be sufficient 70 pay the in
[ tcrest. / told him my opinion was that it
would not earn the interest and expense Of
operating until after July, 1871, and per-
hap5 not until after January. 1872. lie
says: Well, / will see what ! can do. |
have mot fully made up my mind. You
have great enterprise, and if you can
manage b. keep control of il, il viii finally
be very Tcmuucrativu 10 keep / then
left him, and the next day Mckay called
at the Office. He said Lindsay had in
formed him the night before as TO what he
wanted. He then went on to state the
amount, the most of it being in ready
money, and the balance in First Mortgage
Bonds. ] repeated my first answer, that
the Company had no money, and had sold
their First Mortgage Bonds. Mckay then
said to me that thestockholdefs must make
the payment. ! told him | did not know
what the stockholders would say about it,
and whatever he had 10 say farther touch
ing this matter must be said TO the D.rCc-
tors and Stockholders he asked me what
time would suit them TO meet him; ! told
him that Lewis Rice of Boston and \. C.
aud stockholders, were stopping at the
Fifth Avenue Hotel, and that he could sec
them there that night if he chose TO. lie
o.. q q.