Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-04-08

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to take benefit thersnnder and consent 10
the same, including themselves, to pur-
chase said road and property ct the mini
mum fixed Is aforesaid within thirty DAYS
after the failure of the company to puhG
chase. Upon the failure Of the company
or Commissioners aforesaid for the stock
holders to purchase the said road within
ninety days, as aforesaid, then it is agreed
that the Commissioners may sell the same
to the highest bidder, es contemplated By
the act of Dec. 81, 1870, upon the following
conditions and restrictions: The purchaser
of said road shall be compelled to run the
sams substantially Is now run; and, it is
meant by that, that said purchaser shall
run the road with steam engines and q
sufficient number Of passenger and freight
cars to carry the travel and freight upon
said road, as now done, making at least
one trip each way daily. And in no event
shall the purchaser have the right to re-
move the iron and rolling stock Of said
road, and stop the running Of the same; it
being intended to secure and perpetUate
the running Of the road for the benefit of
the country through which the road runs.
And it is agreed that said conditions and
restrictions shall equally apply to any pur-
chaser; and that the company, or any
stakeholder or stockholders, shall have the
right to bring suit to enforce the running
of said road. It Is further agreed that the
sale shall not prejudice the right of the COM
pany to prosecute and receive the benefits of
any suit they have already commenced or
may hereafter commence against any per-
son or persons or corporation for debts,
damages, demands or chooses in action that
are now due said company, including their
right to prosecute any receiver appointed
by the State for any demands against HIM
for misappropriation of the proceeds Of the
road while in his hands or any liability Of
his to the company, and to have the pro-
ceeds Of the same; it being intended by
this sale that the proceeds of the sale shall
be full satisfaction of all debts, demands
or liens the State may have against said
railroad. It was decreed by the court
that the aforesaid agreement be carried
out and executed by the commissioners Of
the State, and that said road be sold upon
the conditions and restrictions agreed
upon, and that the purchaser be notified
of the same at the time Of the sale. And it
further appearing that W. s. Higgins and
James Price, claiming ~ iessees ofsaid road
have been made parties to this bill and
have answered the same, setting up their
claim against the Company and State,
and whereas it has been agreed by the said
Company and said Higgins and Prce, to
refer all matter in dispute by suits COM
menced or otherwise In regard to said lease,
and the rights arising under it to the ar
bitrament and award Of any one person
to be chosen by each party, and q third
person to be chosen ss umpire In case Of
disagreement of the two, said umpire to be
selected by the two referees and than an
award be made by such referees shall de-
termine and award whether Higgins and
Price are indebted TO them and how much
in either case, and that such award shall
be binding upon the Company and said
Higgins and Price, now it is agreed be-
tween the counsel Of the State and the
counsel of said Higgins and Price, John
81. Savage, Esq, that the award so made
as to the amount Of said indebtedness
either way, shall be binding upon the
State and upon the fund to be obtained by
the sale of said road if the State is liabls
for any amount to said Higgins and Price
on account of said lease; but the
question Of Law as to the liability Of the
State to said higgins and Price, or Of
their right to any part Of said fund in con-
sequence of any lease made to them Is ex-
pressly reserved. 1t is therefore ordered,
adjudged, and decreed that the amount
aforesaid to be reported by such referees
be taken as the amount of the claim of
the said higgins and Price, il any, and
the question Of law aforesaid is expressly
reserved for further adjudication Of this
Court.