New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-08-15

NOOGA ROAD-sTATEMENT OF ITS PRESIDENT.
OFFICE ;, or or THE ALABAMA AND CMArr,SooSA
To the People Of alabama, Tennessee, Georgia,
and Mssissppi: Within the last ten days statements
have appeared in The Chattanooga Times TO the effect
that had undertaken, through Nathaniel Mckay, to
bride Robert b. Lindsay, Governor Of Aaboma to pre-
vent his taking possession OF the railroad and assets Of
tho Alabama and Chattanooga Railroad Company, OF
which President under the statute law Of Alabama
That newspaper refers to Gen. Clanton and Gov. Lind
say its authority for such statements But for this
reference no notice OF the matter could reasonably
be expected This reference however, and alusi0n TO
the subject In THE NETWORK TRIBUNE and other re-
spectacle journals Justify exhibition OF the truth In
such manner that just men may have the material for
proper Judgment
This company derives Its name and powers a corpo-
ration from Of the General Assembly OF Alabama
approved Nov II, 1863 It's stockholders generally were
known to DO non-resldcnts of Alabama, Northern men
and Republicans. The road 1t proposed 10 construct
10 extend from Chattanooga Tenn through the great
mineral region OF Alabama and a large portion Of it,
best agricultural region, TO Meridian Miss and formed
vital part Of that grand system OF railways which is
essential alike to the proper development of the
arnpled natural wealth OF Alabama and to the early
restoration Of It's people to contenment and afiuence
Other parts OF this benign system controlled by
Democrats and Southern without the aid OF State
credit impossible that this great system could be
perfected BY the liberal loan of its credit the State so
connected itself with the several companies engaged In
executing this great system that the destruction OF their
credit could not fail to affect nnavoraby the credit and
welfare OF the State Yet turned out that there were in
Alabama certain Democratic partsans whose unreason-
ing hate for everything Northern and Republican, proves
to be stronger than their love for the State, Its people,
its credit its future prosperity and greatness-whose
prejudices blind them to the great injustice they
habtually do to the state ITSELF well to corpora
tons and individuals who not Of their way OF think
ing If that hate could have been restrained by the
dictates Of and patriotism the Alabama
and Chattanooga Railroad Company would before to-day
have paid all of its material liabilities to its employees
TO the State and all is other creditors; the road
would be regularly serving the public, the Com
pany In common with the people, would be now ENJOY
ing the success and benefits of the enterprise and the
State and all other creditors would be free from every
apprehension of loss.
The correspondence, by kilograms land by letters De-
tween the Governor and myself too voluminous Tor
publication now) furnishes conclusive evidence Of the
Willingness the Company, to the extent or Its ability,
TO any and everything necessary for the safety OF the
creditors and success OF the enterprise At nrst DUST
Ii may appear strange that partisan p0htcians c0mpar
ativefy few in numbers aud OF no great capacity for
good, should be capable OF accomplishing so muGn
evil Bpt there Is really nothing strange IN
Il for history and 9sso sss cpnDsS and
the foolish acts OF foolish men may work immense IMMENSE
aud iredeenlabe injury" that even great scandal Ia
win work great injury ana b tRai say Se disabled
s credit and business be cast down, It's prosperity De
and It's brilliant pooPfGs ITr y g eW
tious words and acts" These politicians IN me pursuit
Of selfish partisan ends ana IN the nbma and ID
Chattanooga Railroad Company are the real auois VI
the nna Of tbs have been
and still subjected Under the inspiration ~ in9
company e1S Raa anything to wch objection
could DC made Like other ey oney he se fs fe
ment their prophecies To secure that fuIfment
they have never hesated TO give currency ana
break down the Company and they nave IOst no 0ppo
tunty to destroy the credit Oh tne COMPANY WIN es
large, and with the capitalists OF the world Their Ia
bors and have created lhg enc
under their control as to dshonor Itself by repndatng
in fact. If not 10 its own obligations legally in
Cured IN aid of this Company.
BY such reckless warfare upon this Company the
credit the Company, well OF the state had been
injured deprecaedt to such extent before January
ron h IT, s@s Which Otherwise Would have been
ample, sum of money sufficient to complete lts road
its floating debt the interest falling due in January
obligations which the state had incurred in aid OF
money centres OF the United States and Europe had
been excited to this Company by these malign par
Influences originating in Alabama, that the Second
Mortgage Bonds of the Company though amply secured
were rendered almost wholly unavailable to the Conn
pany The Company, though perfectly solvent then,
it has been and still continues to be, by such
contrvances of its enemies forced either to make default
to It's January interest To the completion ~ Its
road within the time fixed by law Between these evils
had to cSose was made Because 40 il
did not and could not possibly endanger the ultimate
other creditors the Company well for that large
body of the people Of Alabama whose prosperity will he
sigially promoted by road completed and In their
regular service. The enemies of the Company took adj
vantage Of this nonpayment OF the January Interest,"
and used still further to cripple the Company and
depreciate its credit securities and property 1t
understood that they were urging the Governor OF Ala
erty OF the Company The officers of the Company
well as all other sensible men who had examined the
subject knew that such seizure could not possibly ben
eft the State, but would still further injure the
Company aud its credit, and diminish its chances
for making available It's vast and ample re-
sources and thus extreatIng itself from every embar
rassment They believed, however, that the Governor
controlled by preiudiced politicians in his own state,
might make this unwse and injurious use or ms oihcal
power at any time after lie had paid the January in
The officers OF the Company feared this exercise
OF power by Gov Lindsay perhaps unduy feared it, the
fear increased by the communications made to them
boon companion Nathaniel Mckay, in April last; and
to prevent this wanton and hurtfu use of power the Off
OF the Company were constrained to submit to eX-
ton demanded by said Mckay acting las he solennV
asserted in the presence OF gentlemen OF unmpeachable
character for Gov Lindsay, and under circumstances
which left no doubt, then now, tnat Gov. Lindsay
knew of and assented to the aforesaid extorton
mated through Mckay Here follow details OF the affair
as occurring within the knowledge OF myself and Mr.
Richards AZ well as Messrs Lpptt Rice and Wheeler,
whose statements not yet procured can be had when-
ever needed.
MR.. MCKAY DESIRES INTERVIEW.
On the 9th day Of April last Gov. Lindsay authorized
Messrs. Duncan Sherman Co. Of this city TO pay the
interest sGOO0OC0 worth OF bonds, si00OO of which
bonds Of the Alabama and Chattanooga Railroad
Company Endorsed by the State of Alabama, and $1,000
zoo were State bonds loaned to the Company Prior and
following this advertisement asked Gov. Lindsay, in
the presence OF Mr. A c. Lippitt what course he in
tended To pursue account OF the payment OF this in
terest. He informed he not ready to commit
himself on that matter. subsequently Mr.. Nathaniel
Mckay into the Office OF the Company and told me
he desired interview. asked him the nature OF his
business He told that he had had several occasions
long conversations with Gov. Lindsay respecting the
matter OF railroad He said that Lindsay had
requested him 10 10 and say that II
would make IL object 10 him Lindsay he would not
take the road away from the Company but declnedtO
he shnuld IL and lhAt