Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-05-03
..unnAILnoan LEASE.


term of the County Court of Davidson,
was held yesterday, Hon. W. K, Turner
presiding.
When the court had convened and was
called to order by Judge Turner, Justice
Maxey announced the death of Justice
Hollis Hagar, the Oldest member u LUG
court. and spoke in eloquent and sppro-
pirate terms of the personal e1cenenSe
and official integrity of the deceased,
Justice Maxev introduced resolutions OF
respect TO the memory Of the deceased,
and expressions of sympathy for the sur
yivine members Of his family. The reso-
lutions. which were adopted, authorize the
proceedings to be spread upon the min
11tes and the members Of the court to
wear the usual badge Of mourning for
thirty days.
Justice Claiborne offered the following
preamble and resolutions:
Whereas, A lease of the Nashville and
Decatur Railroad to the Louisville and
Nashville Railroad Company is contem-
plated, and the county Of Davidson is
largely interested in the said Nashville
and Decatur Railroad; therefore
Resolved, That J. w. Sloss, Esq, PEesi-
dent of the Nashville and Decatur Railroad
Company, be requested to furnish without
delay to Hon. w. K. Turner, County
Judge, the actual state and condition of
said road.
The gross earnings Of said company,
and the expenses since the last printed re-
port.
2. The Indebtedness of said company to
the State of Tennessee, if any. II none,
how and when said Indebtedness has been
paid.
8. The amount of mortgage bonds of
said road, when duo.
4. The number Of miles of the North
and South Railroad not completed, toge,h b.
! or with the estimated cost of completion,
and the means Of said company to complete
l the same.
5. Any additional information not spe.
cially asked for which will enable this couri
to understand fully the nature Of the pro
posed lease, and all questions connected
herewith affecting directly or indirectly
the vote of the stock Of this county at the
stockholders meeting to be held at Pu
laski.
Resolved, That the representatives O
railroad interests of Davidson county bt
and they are hereby instructed TO vote al
the stockholders meeting of the Nashville
and Decatur Railroad for the postponemeni
of the lease to tho Louisville and Nashville
Railroad Company for thirty days
Justice Maxey spoke in opposition to the
adoption Of the above resolutions, and il
favor of the lease to the Louisville anC
Nashville Railroad Company, or any othel
association which will offer terms equally
as liberal. He gave at length his reasons
for the position be assumed in this impor
tant question, and said he was actuateC
alone by considerations for the best inter
ests of Davidson county, Members Of tn,
court asked Justice Marcy o number o
questions relative to points suggested b,
bis remarks, all of which he answered il
the usual solid and emphatic manne
which chsractsrizss his course as mem
Der of the court
Justice Ewing moved that Presiden
SIoss be invited to address the cour
which motion prevailing, President Slos
proceeded to comply with the invitation
he briefly, bat in q distinct and easil,
comprehended manner, stated the presen
situation of the Nashville and Decatul
Railroad, and also that of the North anC
South Alabama Railroad, embracing thu
history, financial condition, present anc
4 pIODhDl6 COn0CCh4Ou6 Vi l1l6 EHC
roads. He alluded to his long continued
efforts in behalf Of these two railroad en-
terprises, and expressed his regret upon a
last discovering that in order to theil
continued existence and usefulness, they
must pass into the hands of ,some othel
corporation financially able to discharge
the accumulated Indebtedness and keeI
them from bankruptcy and ruin. HI
stated that the North and South Road pre-
ferred the Louisville and Nashville Bail
road Company as a purchaser, for the
reason that the bonds Of the latter Compa
ny would bring more in Alabama than the
bonds of the North and South Road. We
regretted that some Incorporate speech
had been INDUCED by gentlemen opposing
the lease to the Louisville Road. We had
heard similar threats at Montgomery, and
regretted that gentlemen thought occasion
existed for use Of any such questionable
argument President Sloss stated, that
In the efforts he had made to obtain help,
no sympathy had hitherto been expressed
or assistance offered by the city Of Nash,
vile. Except on one occasion no assistance
had been asked of Nashville, and then il
was refused. In order, said President
Sloss, TO prevent Montgomery carrying hel
threats into execution, he wished to set
Nashville or Louisville take control of ths
Nashville and Decatur, and the North Rnc
South roads. The Memphis and Charles,
ton Railroad Company had secured G
controlling interest in the North
and South Railroad, and would
retain il unless Louisville OF Nashville
low did something to prevent it. Louis.
vile proposes to furnish the money neces.
sary to complete It, AID in that event the
contractors propose to place 6, 600 men al
work TO complete If. He acknowledged
his indebtedness TO Tennessee for the aid
hitherto given. The owners of the North
and South road could obtain from another
quarter propositions as liberal as those Of.
fered by the Louisville and Nashville Rail,
road Company, but preferred to &C
cept the terms proposed by their friends
in Kentucky. Throughout this whole
affair Louisville has pursued an entirely
manly and honorable course. Her main
object in wishing to lease the Nashville and
Decatur Railroad is to get possession o.
the North and South Road. II the work OF
that road stops at Elyton, much labor anC
money expended go for nothing. The pro
posed lease, il successful, gives Nashville
two competing lines to the South-the Fery
thing which now ought to be most desired
by the merchants and other business mer
of Nashville. Cities with competing linet
do not have half the trouble about
(. eighis common to cities with but one
line, President Sloss Ryowed the belize
that, except in some specialities, Nashville
could sell goods as cheap as Louisville oil
New York.
Ex-Gov. Brown wished to know Of the
speaker if it was not possible to get from
| the Louisville aud Nashville Railroad Com
pauy some more definite assurance as K
carrying freight cheaper south from Nash
Vile than from Louisville.
President Sloss thought it hardl!
possible to make more definite o
liberal terms than those offered. IL
said the Louisville and Nashville
Railroad Company, if they secured
the lease, would havt TO invest 100000
south of Nashville, and have to pa.
within the first month $5,OO0,000 Hav
| ing SO much money invested south o
Nashville, was it reasonable to suppos
that louisville " uid be apt to pursue an,
course likely to ipjure Nashville OF othe
Southern city.
President Sloss then read the repor
which is to be submitted TO tn
stockholders meeting at Pulaski to
morrow, and which Is publishet
in full in another part of to-day's UNIol
AND AMERICAN. After reading the report
President Sloss was requested by severa
members of the Court to proceed with hi
remarks, but saying that he had already
consumed more lime than be at first antlc
ipated doing, thanked the members of tbs
Court for their patient attention, and re
tired from the speakers stand.
Justice Pat. Walsh introduced the fol-
lowing resolution, and asked it
adoption in lieu of the resolution
offered by Justice Claiborne.
Resolved, That in the opinion of thi
court the Railroad Commissioners shouli
attend the stockholders meeting of tn,
Nashville aud Decatur Railroad Company