Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1871-03-03
SATURDAY, 25th MARCH, Is

MARCUS j. WRIGHT,
Feb. %, 1871. Sheriff Shelby County.
~ sHa A
a tsh l y ed
SHELBY COUNTY QUARfERLY COURT
JANUARY TERN,
THURSDAY. January 0, 1911.
state If Tennessee. Shelby County-County
Court, Quarterly Term. January. 1871.
The Selma. Marion and Memphis Railroad
Company of Tennessee and Mississippi, for
merly the Memphis. Holly Springs, Okolona
and Selma Railroad Company, by their fresi-
dent. NJ b. Forrest, and q majority OF the
Directors. having applied to this Court 70
take, on behalf of the County OF Shealpy ite
Capital Stock of said Company, and believing
that the interest of the people OF the county
will be greatly promoted by the speedy con-
struction of said Railroad 60. T.a,
Five Hundred Thousand Dollars be sub
scribed to the Capital Stock of the sand Com
pany, to be paid in five annual installments
OF Une Hundred Thousand Dollars each,
without interest, upon the following terms
IL The Western terminus of said Railroad
shall be and always remain at Memphis,
3. The money paid under this subscription.
or the certificate of Indebtedness hereinafter
authorized to be issued, shall be. applied:
First-To the grading, bridging and masonry
of that portion of the road within the County
Of Shelby, commencing the work at Mem
phis and completing II continuously, READY
for the superstructure, to the County line
Secondly.To the purchase OF cross ties; iron
within the County of Shelby. Th1rdly-lo
the purchase of locomotives and cars sum,
Gent to operate that portion of the road
within the County, and to the laying OF the
| track over the same. Fourthlyr-T0 the cree
| tion of such depots, platforms, secuon houses
machine shops. turntables, water stations,
and the purchase of such machinery for the
| shops as may be necessary for the economical
| operation of the road. Fifthly-Should any
| norton of the subscription remain alter that
! part of the road in Shelby County is fully
completed and equipped as hrst-class, ROAD
| in every respect, then such unexpended p0r-
| ton shall be applied to the extension, OF the
| road into Mississippi, in the same order and
! for the same purposes as required TO De eA-
pended in Shelby County; and no part of the
money hereby subscribed, nor of the certii-
| Gates of Indebtedness hereinafter authorized
| to be issued, shall be used for the payment OF
officers salaries, commissions, office rent,
printing, stationery, or other general or mis-
celianeous expenses of the company, nor for
| right of way or depot grounds, and any VIOLA
| tion of these conditions on the part of the said
| Railroad Company shall render this sub
| scription wholly void, as to all further pay
8. Before any portion of the money herein
| subscribed shall be paid over to said Railroad
Company, and before any certificate OF IN;
Railroad Company, the President of said
| Company shall file with the Clerk of the
| County Court an accurate and full Top0-
graphical Map Of the hnal location OF the
| file of the same, showing the, quantities OF
excavation and borrowed embankment, OF
masonry, and of bridging TO be done on each
section and q copy of the specifications and
form Of contract under which the work is re-
| auired to be done, which map, profile and
specification shall be certified by the Chief
Engineer Of said Road under oath as correct.
| A. The annual installments shall be assessed
lby the Court each year at the same time
| that the other County taxes are assessed, and
| shall be collected at the same time other
| County taxes are collected.
| e. At the term of the Court each year pre-
| ceding the term at which the taxes are TO be
assessed. the Court may appoint one or more
competent Civil Engineers. of high character
for integrity. who shall have no connection
| with said Railroad, to go on the line of said
| Railroad and make an accurate measure
| ment Of all the work done, an account OF all
| the locomotives, cars, machinery, buildings,
| and material delivered for the Road. and
make a detailed, itemized report of the same.
and the value thereof in detail, estimated at
fair and reasonable prices for each item.
| Said report shall be made by the said Engi-
| neers under oath 10 the Court at the next
term following their appointment; and the
President and Chief Engineer of said Com
pany shall be bound to afford said Engineers
| appointed by the Court access to their books,
| notes of the work, and every facility for ar
| irving at correct measurement and value of
the same.
q. The President of the said Company shall
file q statement under oath with the Clerk OF
the County Court each year, cotemporane-
| Ously with the report of the said Engineers,
| which statement shall show fully the cx-
penditures of all money received from the
/ subscription of Shelby County, or from the
certificates of indebtedness hereinafter au-
thorized TO be issued, showing when and to
| whom maid and or what account,
"9oi II p h snneag 10 he satsfaction of the
conrt from the report of the said engineers,
1 That the money received from said county sub
scrintion- or the certificates of Indebtedness
hereinafter authorized TO be issued have been
faithfnliv and economically applied for the
nnrpeses expressed in article q Of the decree,
then no further tax shall be assessed OF levied
90 baf nnrnose. and no more certificates OF
indebtedness shall be issued and the subscrip-
lion AZ 10 the balance of the installments shall
ha ro;d ~ -
pV 70 II ,olloeting Tho tax tho Tax Collector
hall 1--WE each fax-naver a SEPARATE RECENT
e ,h ,no,,nt ~ tax mid bv him or her on
aceoi,nt Of this subscription. which receipt
shall entitie the holder thereof TO receive from
ne Reilroad Company certificates Of stock In
say camnany To- he smount Of the receipts
sha,, rnlpentsa ~ The Secretary OF said com
: 49, K, sr,ns ~ t,Ventv-fve dollars or eer-
ttseeso,,es 81 tvventvfve dollars and for any
e4cess over twenty-fve dollars, or multipies
, "a t,ventv1sve doiIars. in the amount OF the
oaoeirts resanted Inc Secretary of the Rail-
l - . q al i've 40 The holder a re-
o;nt ,vhich ali likewise he convertible into
sSips 49, aion - aI,a ss;d connanv when nre-
sen,ed Nv The boider. In snins al tgenty.6ye
seIter !. " ~ ~; ;te ,n,isinIe " W
H. " ~ anes nv tba said Railroad
=, tns 20 ., or,;or ~ tbc money col.
.pI ~, AZ W ~ rbscri,,,ian or ~ tba cer
: ti6eafes of indebtedness hereinafter author