Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-05-04
LOUISVILLE AND MONT
GOMERY.
Extension of Southern COuDec-
tiOnS.
Important Meeting of the Stock
holders of the Louisville and Nash
willie Railroad.
From the Louisville Ledger, May 8.


There was more than usual interest
manifested yesterday among business
men il railroad matters, owing, in some
measure, to the meeting of the stock
holders of the Louisville and Nashville
Railroad, called for the purpose of voting
upon propositions with regard to the
Nashville and Decatur Railroad, and the
South and North Alabama Railroad.
About seventy-ive gentlemen, stock
holders, and representing stock were in
attendance. Among the number we men,
ton Col. s. B. Thomas, of the Elizabeth
town and Paducah Railroad; Geo. A.
Washington, Esq, President of the Edge
field and Kentucky road; Col. Sam Tate,
of the South and North Alabama road;
Col. Thos. Foster, of Marion county, a
large stockholder; Judge Whitworth, Of
Nashville; Mr.. Long, of Russellville, q
large stockholdeI; County Commissioners
from Hardin, Madison, Hart, Warren, and
Logan county, KY, and Commissioners
from Davidson county, Tenn. Dr.. G.
Thompson, and James Alexander, Esq
from Sumner county, Tenn, were pres
ent, also Messrs. Hugh and Antony
McElroy, of Springfield, Washington
county. The meeting was held in the
Commercial bank building, corner of
Main and Bullitt streets, and was organ
lied by calling Col. Thomas J. Foster, of
Marion county, to the chair, and the
election OF A. IL. Quarter, Secretary, and
Messrs. George w. Morris and George
w. Barr were appointed judges Of the
election.
President Newcomb, after stating tn e
object of the meeting, presented the fol-
lowing resolutions
Resolved, That the President and Di-
rectors of this company, by its proper
officers, be authorized to indOTEe and
guarantee the payment of the principal
and interest of the seven per cent. bonds
of The Memphis and Ohio Railroad Com
pany, having thirty years to run TO matu-
rity from the first of June, 1851, in crest
and principal payable in gold coin of the
United States, not exceeding m all three
aud a half million of dollars, (S3, 500,-
000,) or should the said Memphis and
Ohio Railroad Company issue sterling
bonds, principal and interest payable in
Europe, interest of the SAID bonds psya-
BILE in gold, as aforesaid, the President
and Directors Cf this company are author
izsd 10 cause TO De indorsed and to guar
sDtee the principal and interest Of the
same t0 en- amount not exceeding seven
hundred thousand GOO, 000) pounds ster-
ling.
Whereas, With view of establishing
a leading line of railway from Louisville,
Kentucky, to Montgomery, Alabama, to
be under the control of the Louisville and
Nashville Railroad Company, negotiations
were entered into between the President
and Directors of said company and the
Nashville and Decatur Railroad Company
for the lease of its railroad, other pro-
perty, rights and purchases, and with the
South and North Alabama railroad, and
the President and Directors of this COM
pany have laid before this meeting pro-
posed lease of the Nashville and Decatur
railroad, and proposed contracts with the
South and North Alabama Railroad Com
psny and Sam. Tate and associates for
the approval, ratification or rejection of
the stockholders of the Louisville and
Nashville Railroad Company; and while
the said stockholders approved of meas
ures looking to the establishment of said
line of railway if they can be accOmp-
lished upon terms fair ard Just TO all par
ties interested; yet not having such facts
before them IS would justify them, in
their opinion, in approving or ratifying
said proposed lease and contracts, they
decline to approve said contracts with the
South and North Alabama Railroad Com
pAny and Sam. Tate and associates.
But it is hereby resolved by the Stock
holders of the Louisville and Nashville
Railroad Company, that it be left to the
direc ion of the President and Directors
of said Company to execute and carry out
in behalf of the stockholders, the pro
posed lease of the Nashville aud Decatur
Railroad, and at their discretion, to make
such contracts with the South and North
Alabama Railroad Company, and Sam
Tate ard associates, in reference to the
completion and control of the South and
North Alabama Railroad as they may
deem best for the interests of the stock
holders of this Company.
After some discussion on the subject,
Mayor Baxter offered motion, seconded
by Col. S. B. Thomas, that the first reso-
luton be taken up and voted on viva
voce, and said resolution was unanimous
ly adopted, except by MIR. Montgomery,
of Hardin county, voting no-represent-
ing twenty-nine shares of stock.
Mayor Bsxter then moved, seconded
by Mr.. w. B. Hamilton, that the stock
holders now proceed to vote by ballot
upon the second resolution, which was
carried.
On comparison of the poll book it
stood as follows: Total number of votes
cast 6,256; for the resolution, 46, l45i