Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-03-11
sHE1Br CoUgrr QUAHrrB1Y coUnr.l

4EEHn P
THURSDAY, January S, 1871.
State or Tennessee, shelby County-Couury
Court, Gaartely Term January ISL
In open Session.
The Selma, Marion and Memphis Railroad
Company o. Tennessee and Mississippi. for
merly the Memphis, Holly Spring.. OkOIoua
anu selma Railroad Company, BY their Presi-
dent n b Forrest and a majOritY Of the
Directors, having applied % this court 70
take on behalf OF 1.-THE unit OF shelby. Five
Hundred Thousand Dollars (S5g0,G00 Of the
Capital Stock Of said Company, and believ-
ing hat the interest OF the people OF the
County viii be greatly promoted by the
speedy co~AsE1clIon or aaIu hallruaQi
lt Is therefore ordered by the Court That
Five hundred Dollars be sub
scribed % the Capital stock of the aid Com
pany, to De paid in five annual instalmeuts
Of One Hundred Thousand Dollars each.
Without interest, upon the following terms
and conditions, viz:
J. The Western terminus Of said Railroad
shah be and always remain al Memphis,
Tennessee.
2 The money paid under this subscription.
or the certificate Of Indebtedness hereinafter
aufrorfZad To be isguad euaU ba aDuIfaH .
First-TO the grading, Bridging and masonry
of that portion OF the road within the County
OF shelby, commencing the work at Mem
PMS AID completing u continuously, ready
Tor the supeFstruCture, to the County line.
oecOudly-IO the purchase of cross-Ies, iron
rails and tasBening5 suuclent TO lay the track
within the Count Of shelby. IliriIy-r0
the purchase of locomotives and cars SUE
hcieut to operate that portion of the road
W.NAHA INC 1AAAAL q an GU aN1 ALHaAA o.. MAE
track over the same. F0urtlly-IU the cree
ton OF such dspO5s- platforms, section houses,
machine shopBf turn tables, water stations.
and the purchase Of such machinery Tor the
shops as may be necessary for the economical
operation OF the road. tluuly-SuOuld any
portion of the subscription remain after that
part of the road in shelby County is fully
completed and equipped as q ursu-cl4ss road
i'm every respect, then such u-neZpeuded p0r-
tion shall be applied TO the extension Of the
road into mississippi IN Ule same order and
for the same purposes as required 90 be eX-
pended In shelby County and 10 part OF the
money hereby Subscribed, nor OF the csrrid-
Gales OF indebtedness hereinafter authorized
10 be issued, shall be used for the aymeu of
Cnicgrs' salaries, commissions. Office rent,
printing, stationery or other general OF mis-
c-elLauHlus expenses or the company nor for
right of way or depot grcuuGs, and any v-O
latiOu of these conditions on the part OF the
said Railroad Company shall rsuder this
subscription wholly Void, as to all further
Payments.
s.. Before any portion of the money herein
subscribed shall be paid over to said Railroad
company and before any certificates Of in
deb edErSs shall be delivered 10 the said
Railroad Company, the President OF Said
Company shall ME with the Clerk Of the
County Court an accurate and fuI 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 aud borrowed embanEmgut, Of
masonry. "a OF bridging 10 be done on each
section and "a copy OF The speclncatlons and
form of contract uudgr which the work is re-
uulref to be Done, which map. profile and
Specification shall be certified by the Chief
Engineer OF said Road under oath as correct.
a.. The a1nua lnstalmeuts shall be assessed
by the Court each year a5 the same time
tina the other County taxes are assessed, ana
shall be collected a. the same time other
CUunty taxes are collected
s. Az the term of the Court each year pre-
cedinE tbs berm as which the taxes are 90 be
assessed, fhe Court may appoint one or more
for Integrity. who snail have no connection
with said Railroad, % 90 on the lint of said
Railroad and mails an accurate measure
ueni OF llLthz work DONE an account Of all
The locomotives, ears machinery, buildings,
auu material delivered for the Road. aud
make a detailed. it5mizsd report Ofuhe same.
% the value thereof in detail estimated al
fa and reasonable prices for each item.
said report shall be made by the said Engf-
neers under oath to the Court at the next
term tO4OW1uE their appointments; and the
President and Chief Engineer of said Com
pany shall be bound TO anOrd said Engineers
appointed by the Court access to their books,
notes OF the work, and every facility for ar
riviGg at a correct measurement and value
OF the same.
8. The President pf the said company shall
nle q statement under oath with the Clerk Of
the County Court each year, cstemporane-
Cu8Iy with the report Of the said engineers.
which statement shall show fully the eZ-
pendiCuEs OF all money received from the
subscription OF SHELBY county, or from the
certificates OF indebtedness hereinafter au-
tGoLllsd To be issued, showing when and 70
whom paid, and on what account
y II 81 eppear to the satisfaction of the
court from the report Of the said engineers,
that the money received rom said county
inscription, or % certificates OF indebted
ness hereinafter authorized to be issued, have
been faithfully and economically applied for
the purpOse expressed in article 2 of the de-
cree, t1en no further taZs shall be assessed or
levied for that purpose and no more cerflh-
Gates OF indebtedness snail be Issued and the
subscrIDtior as 60 the balance o. the install
ments snail be void.
s.. In collecting Jhe tax, the Tax Collector
shall give each taxpayer "a separate receipt
Tor the amount Of the tax paid by him or her
on account Of this subscription, which re-
ceipt shall enJltle the hOlder thereof TO re-
ceIve rom the Railroad Company, ceTGld-
Gates % stock IL said company 20 the amount
IaTy Of said company, in sums of twenty
i've dollars, or certificates Cftwenty-hve dol-
laGsl and tor any excess over twenty-five
dollars, or muLtiples OF twenty-five dollars,
ia the sEIOInL Of the receipts presented, the
secretary OF the Railroad Company shall
give 20 the holder q receipt which shall Ike
wise be convertible into the stock Of tine said
company. when presented by the holder, ia
OF twenty-five dollars or It's multiple
g. The acceptance by TIE said Railroad
Company OF any poruOn or the money coli
lsctet under thIs subscription or OF The cer-
tihc2tes OF Indebtedness hereinafter author
lied TO be issued snail blnd the company
July 90 all the terms and conditions o. this
subscription as set forth ia the foregoing
and following articles.
IN. Thus subscription shall become binding
only when ratified by the constitutional ma
jority OF the legal voters Of the county, and TO
test their sense of this QueS Ion, 10 Is hereby
ordered, hat the Sherin OF the county make
publication IN two daily newspaper pub
lished Ina Memphis, Of an election TO be held
for that purpose, at The regular voting pre-
OF the county, on Saturday, the 2Jn Of
1871 and THAT a copy OF this decree
and q statement Of the financial condition Of
the county be published in connection with
election notice for thirty days proceed
the election, in two daily papers pub
Iished in Memphis,
H.. Those who favOr the subscription shall
al said eiectIou write or print on their ball
lois the words, "FOr Subscription, and those /
who oppose the subscription shall write or I
Print on their ballots the words, No sub /
F" and the Sherid a Immediate
ly alter the election make due returns TO the
CLERK OF the County Court, OF the number OF ]
The votes pOlIed for and Of the numbs Of
votes pollcd against subscription
L. TO being the object Otthe Court 10 enable
the Railroad umpau TO commence the QrE
as speedily as possible,
10 is therefore Ordered, That IL 1t shall APP I
pear from said election returns that the sub j
scriptiOu has been ratified by the required
cOn-stiturional vote, the Chairman OF the I
county Court shall Immediately, upon the I
films Of the map, prOnle and specifications 1
required by article 3, issue TO the said Raii- 4
Company certificates OF Indebtedness of I
shelby comfy to the amount Of u hundred
dollars said eertfHcsfes Snail no /
in such sums as the President may d.
rect, and express on their face that they are I
subscription of stock to the selma, Marion ]
Memphis Railroad Company, and that /
are Receivable in payment Of said spe-
chic tax. ndlikeWise each succeeding year. /
N 10 shall appear to the satisfaction OF the l
Court, nom the report Of the Engineers ap-