Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-03-20

Shelby CoUSTY QUARTERLY Couzr7
Tran
T~HURsuAE5 January S, ISL
state or Tennessee, Shelby CGuuv-Couufv
Court, 4uarlelV Term, January. l8U.
In Open session.
The selma, Marion and Msmphfs Railroad
Company o. 1euuessfe and 81 sslssiDDL. for
merly the Memphis, Holly SPRING., OkoIona
and selma Railroad Company. bv rleIr pregf-
dent, N u. FORREST, and q maIurltv ll the
Directors having applied 10 tiis Ucurr 10
take on ueufii OF tlD county OF =ncInT- five
Hundred ThIusaui Dollars tE5gBf0H ortbs
Capital Stock of said Company and believe
Ing thar the interest OF the people al the
County viii be- greatly promoted by the
speedy coustruc' ion OF said r abroad
TO Us therefore ordered by the Court. That
Five H1ndre Thousand Dollars be- SUBJ
HcriDed 10 The Capital stock Of the SAID Com
I pany, % be paid Ia i've annual InsLaImeura
OF one Hundred Thousand Dollars each.
Without in crest, upon the following terms
aud coudi ions, VIZ;
A. The Western rmIuu OF said Railroad
8hdll be and always remain al Memphis,
Tennessee.
. The money paid under this subscription
or the Certificate OF Indebtedness h~erFfusfar
alaie5A 20 r. issued small De applied
rlfeE-Ao tue grazing uTlQEIug and masuuly
OF That portion Of the road within the County
ot EnelDgs commencing the WORK at Mem
PMS and completing II continuously. ready
Tor the supeIstr1cturer 20 the County line.
SecOndly-ro the purchase of erass-tieg ron
rails ano f~asJeutugs sufficient % lay the track
] EAaAA4 a44 eAaANN Cd 5AAraELa Lu.NLNE-Ln
the purchase OF locomotives and cars EuE
/ 1cleut 70 Operate that portion Of the road
within the County, and TO the Ia.ng Of the
ira e over me same f0urtulV-IJ the erer-
{ ton OF such doIoH, pialtormB, section houses.
machine 8uOpH, turn tables. wtter s~rattDDs
and he purchase of such machinery tor the
[ shops as may Ue nee ssaIv tlr the &c lu0mf.aI
I opera ion OF the road. FIuhlF-suould anv
l portion OF the subscription remain AT er rnaf
psft @ tir rql' IN shelby County ia fully
completed aud eq119ped as o lrst-cils road
iu every respect then sua u uueLUended nor
ton shall bee applied 70 the extension Of fha
/ road Into Mississippi, in the anne order and
FOR the same purposes as required TO lie ex-
pended In -h-l1I County anu 40 part OF Tie
money hereby subscribed, n4r OF the cerrfd-
cafes of Indebtedness here matter authorized
io De- issued, shall be used Tor the paymento OF
ON er7' salaries, commissions. Ofdoa rent
I printing. stationery OF @ her general or mis-
~C-lIaueauS expenses of tho nor f0r
l rght0t way or dep. grounds, and any vI0
I laLiou of these conditions on The pant or the
said Ealu1Hu company snail render MS
subscription wholly Volds a. 10 all iurther
3. Before any portion OF the money herein
subscribed small be paid over - said Railroad
company, and before any certificates OF iu.
deb edE,ss shall be delivered 10 the 50.
Railroad Company, the President OF sid
Company thai lie with the Clerk OF 1hs
county Court an accurate and iul T0po-
graphical Map of the dnHI location OF inc
Road ina shelby COuury. and an accurate DrQ-
ME OF the same showing the quantities Of
excavation and borrowed embodiment, uf
masonry, anu Of Uriug ug o. be- iona On each
section, aud q copy OF lIG E~peCIucati. ms ana
form OF contract under which the work g r.
qulret TO be done, which map. profile aud
specification shall be certified By the Chief
Engineer OF said Road uurer oath as correct
t. The annual lustalmeuts shall be assessed
ut tle court eduA year al the same time
tuaL tle other County f-Aes are assessed. ana
snAl De collected &C the same time other
CJuuty taxes are collected
8 At the term OF the Court each vear ure.
ceuing the term at which the taxes are b be
aastssedr me Court mHy appoint one or more
comp atenBt tFl Engineers, of high character
.ni liteal-ty VINO aua- nave %" connection
with saId Railroad. lo 20 on The line OF said
Railroad and make an Accurate measure
meut8t all the work done, AN account of ell
the locomotives, cars, mathlnery, buildings.
and material ueliVerEd Tor The Road. and
make Cd detailed, ilsmiZed report OF the some
ami the value thereof ia detail, estimated al
D. ana reasonable plLua Tor each item.
said -apUrJ aBaIl Dee mlds by the said Fuuf-
ut-ls under oauA lu The Count at the next
term l"nuWlug Their appointment; and the
President ald Chief Engineer OF said ggm-
pauy shall be bound f1 AFFORD said ENGINEERS
appointed uy the Court srcess TO their books.
notes o. the work. and every facility Tor ar.
rlVlns al a correct measurement a value
Of the sau-e.
3 TIE President Of the said company shan
ME 1Ai-temeut under oath vftu the CLERK of
the County Cont gucn yeaI. c8tamD8rans-
ously with the report OF zinc said e~usIu-arg.
which statement shall show mIlv ms ev-
peudltur6 OF al money received from me
subscription OF shelby county, or rom me
certificates of indebtedness Hereinafter am
L1UlAaCu lA De AAaLeA. aLaNWLII when and In
Wnum paid &ad on what account
Llf 10 appear % Che satisfaction OF the
court from the report OF the said engineers.
that The money received from said county
subscription or the certificates Of rndebfpd- .
ness ter authorized to be issued. have ]
been faithfully and economically applied for I
the purposes expressed ia article 2 OF the de- I
cree, Inen no further tax shall be assessed or
levied for mat purpose and no more rprffd. Z
CaLGaol tuGIhtsdue-B shan be- is ued and tie Z
subscription As TO 5he balance o. the install
mEuLhs snail be void. I
s. lin collecting the tax. the Tax Collector
snail give each taxpayer a separate receipt I
for the amount Of the tax paid By him or her I
on account OF this SUBSCRIPTION. which re-
celpt shall 6ntltlg tla holder thereof to- re-. I
celv5 rom tle Railroad Company, esrtlH-
Gates o. Stock m SAID com puuy 20 theam8uut
o. the receipts when presented 20 the Sscrs-
Jary o. said company. in sums Of TWENTY
dollars, or certificates % tWeufy-dve II 4.
laIs, and Tor any excess over TWENTY-FIVE
aOliars, or muluples OF twenty-five dol ars.
the aGn0nHt of the receipts presented. the
secretary OF the Railroad Company shall
give 70 me holder q receipt which shall Ike
wise be convertible Into the stock of the said
when brestnted by the holder. in
sums OF twenty-five dollars or its multiple
Company Of any portion OF the money coll
.eCred under this subscription, OF of Tie Ger
.lncates OF Indebtedness hereinafter author
.zed 10 be issued, shall bind The company
.ully to all the terms ADD conditions o. TINS
INSCRIPTION as set forth in the foregoing
following articles
10. TINS subscription shall become binding
lnly when ratified by the CONSTITUTIONS ma
GRITTY OF the lesaivoters of thec unity, u to
their sense of this Ques ion, IL Is hereby
ordered, that the Sherin o. the county make
1ubIicatiOn in two daily newspapers pub
lshed ia Memphis, OF an election 10 be held
or LuHb purpose. az lue Eegulal voting pre-
'incts OF the county, on saturday thG 18th OF
March. 1871. and that a COPY OF This decree
and o statement OF the financial condition Of
comfy be published in connection with
Iuch election notice for sntTty days proceed
ng the election, in two daily papers pub
ishod In Memphis.
lI. those who favor the subscription shall
it saiu election write or print ON their bal
the words, For subscription, and those
oppose the subscription shall write or
on their ballots the words, /" No sub
~Crtptiun " and the sheriff shall Immediate
y after the election make due returns 10 the
votes polled 1Or and OF the number Of
-Otes pullcd against subscription.
Il it being the object Of The Court to enable
he Rallruau Company 70 commence Lhs work
8 speedily as possible,
lt is therefore ordered. Thatif it shall an
ear from said election returns that the sub
mas been ratified by the requfrad
institutional vote. the Chairman OF the
.Ounty Court shall Immediately, upon the
ling Of the map, profile and Specifications
by article 8, issue to the said Rail-
Dad Company certificates OF Indebtedness Of
helby county to the amount Of one hundred
dollars. aid certificates shall be
sued in such sums as the President may di-
ana express on their face that they are &
Dr. subscription of stock 10 eSelma. Marion
nd memphis halroad Company and that 4
ley are reoGlTaDl6 IN pay ment of said spe-
me Tax. AndhkeWise each succeeding year,
IL shall appear 70 the satisfaction OF the
nom the report Of the Engineers ap-
oinIed as provided in article 5 OF this decree, -
lat the money arising from the TAX OF the
recedlnE year, or the certificates OF mdebt- A.,
mess issued the pressing year nave osen =
lthtully and economically applet Is re-
aired by article 2, then the chairman OF the
0unty Court shall issue to the railroad COM O.,
any one hundred thousand dollars OF certlu-
ites Ia the same manner and form as herein Z
sfOre provided, til the lull amount OF nve ?
thousand dollars mas been issued. 1
The certificates Of indebtedness t0reach year 2
nall b8 numbered from OnB upward cOnseCu- >
velv. in thesorder of their issuance, and shall
b signed by the Chairman Of the County u
and countersigned pg the clerk OF the g
ountv Court, and havet the seal O-the county q
.taehed. and the said Clerk shall keep an 2
register Of each Gellneu issue, moving s.
heu and 10 whom ISSUED, and the Chairman a
me Court shall take the receipt OF the q
reasurer Of the said railroad company f0ran 0
rtiheates issued, whicn receipt shall be- pre- Il
rvediu the office of the Clerk Of the County d
)urf. and the said Clerk shall at each meet
the Court next following the issue of GER
1cttes, report TO the Court the full amount
sued % date of shat meeting. d
The G0urt shall, in each aase. provide Dronar q
mpensatiQn for the engineers authorized 10
appointed n article 5 Of this deorea
he money on certificates shall only be- Dafd n
u by said company for work actually aone
material aesuai5y delivered, Of the kind
~ CLASS spetuteQ IN article = OF this decrea.
certificates when received bv the Tav :
Injector ia payment OF this specific tax. on 4
hen redeemed by theCouuty Treasurer e6a1 a
Immediately cancelled by those Officers r. o
ecuyely, and each shall make q report QUAR- o.
-ly TO tneCOurt of the amount received or y
leemed and cancelled. Ehat upon receiving o.
" instrument Of the certificates hereln- s.
tore provided for, said railroad company ~
ali give a bQnuin the sum OF one hundred
uusand dollars. with suen suretss rs shall p
satisfactory to the CEafnuout OF THIS Count Z.
nCttiOned that said certificates hnau 20 "a =
cd iaith applied 70 the objects ana pafp9ss =
ecifed in article . Of this decree and that
M certideates shall not he used or negotiated 81
said company az less Enam 44nly-nfe cents el