Clarksville chronicle. (Clarksville, Tenn.) 186?-1872, 1871-06-03

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lOA O'CLOCK, ana at night at O'Clock.
The public are invited to attend.
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~ For the Chronicle.
MEssRs. EDITORS AS IL Is a sub
jrct of general inquiry, what the
Board OF Directors of the Memphis,
CIarksv lie and Louisville Railroad
are doing with the road, and as 1t
seems to be difficult to obtain any In
formation in relation to it, propose
to give the tax payers of the city and
county what few facts can be col
lected outside of the ring, and they
are meager enough. In the first
place, 1t Is thought, the road and all
Its interests have passed into the
hands of a ring com posed of individ-
uils either owning, or representing
those who do own, debts against the
road, and who stand in the way OF
any compromise that could be effected
for the benefit of the road--I allude
to the second mortgage bond debt.
1t is singularly unfortunate for the
road that some of the present Board
of Directors, who are Ostensibly
watching and guarding the interest
of the Overburdened tax payers, are,
in fact, watching and guarding other
interests directly antagonistic to
them,
/ have always been of the opinion
that no person ought to stand in SO
confidential relation to the road rs
that of director, If he was, in the
slightest degree, interested in any
thing hostile to the road, SO that he
might, at all times, act with an enc
sin0le to the best interest of those
who placed him there to protect their
rights.
1 am informed there are four classes
of creditors of the road. First, the
State debt, amounting to about ST.
100, 900; secondly, the second mort
gage bond holders; thirdly, the float
ing debt; and lastly, the Receivers
debt: amounting i'm the aggregate &c,
perhaps, SO, 900, 900; while the road Is
worth at least "a. OoO, 900.
The State proposes to accent from
the Company 81, 700, 900 i'm bonds of
the State (which can be bought in the
market for 20 cents i'm the doliarl i'm
full satisfaction of our debt of 50. 100
600. and we would do this. but the
Directors who own, and represent
those that do own. large amounts
of these second mortpate bonds
refuse TO abate their debt even in the
slightest degree. So If we were to
accent THE States proposition. II
would innure to the holders of the
second mortgage bonds and their at
torna,,s aud uot tn tho intarast NJ fha
stock holder and tax-payer. You can
see from these menyer facts. that this
rino of Directors like the 'sboa con
strictor.D has taken Won and your
interest into its deadly embrace and
every effort to extricote Yourselves
from this homeless situation only
weakens Won and hurries on the fatal
moment of your entire destruction.
Do Won ask what can be done IN
This axtremitvo we renlv LAT everv
tax.naver i'm the county meet toceth-
or. calf your Directors before Won.
dem and ~ them nm account of fheir
Observation-Disclosures f,,lI exnianation Of
evervthiny conrected with the road.
yea demand 81 each Director his
corresnondence relative to the road
and iat him nro,l,,oe n for N 10 your
right to know II there are any 90.
crets they are vours ami Won have n
right IN aemand than And n the
management is not satisfactory. 20
To work Immediately and form new
company under the act of the Leg
stature authorizing Chaneery courts