Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-03-03
SALE w.RR

IObserve a special call made by his honor,
the Judge Of the County Court of Davidson
conyening his court on Monday the 4th OF
March, TO take into consideration the bid of
the N. & G. r. X. Company for the stock
ofthe county il them. s. n. w. r. R. This
call, in the face of an adjournment over to
the quarterly term in April, rather sur
prises me. Gentlemen, why is this,
exceeding haste 10 purchase your
| stock that Is said to be worthless, and after
| the court by decisive majority declaring
that the late election by the people tOssell
| the stocks was not held ia accordance with
law, and then after refusal TO reconsider
| their vote given the previous day, this is
strange. But the purchasers then only off
| cred $50, 600 in Tennessee bonds with cou-
pons off,or worth in. currency about $4,000,
| but now the bid is advanced to 80 bonds
with coupons, which positively makes the
bid some $1,000 better, and as it is under
| stood they are to give bond to the county
to protect itagainst the taxpayers receipts;
but all this it is said is offered to avoid suit
from taxpayers. This is considerable
indeed. Well, little pOtspOnment
makes, say five thousand dollars to the
county. If ventilating the subject gives
this much to our county, would it not be
wise to ventilate the matter further? What
Is to be gained by hurTying this through so
fast? A few days ago it was thirty bonds
or nothing. l don't like threats, nor do |
think our magistrates can take a dare, as
iTlstGTlced at their last meeting. Now, gen
tlemen, look at this matter straight in the
face. You gave the county bonds as sub
scription to the road for 100000 and eigh-
teen years interest added, which makes
1884 900, in all S624,O00, and you are Of
fered the munificent sum of thirty Tennes-
see bonds for that vast sum, and with the
privilege TO Davidson county Of paying the
principal and interest in future. But it is
said the stock is worth nothing. Who says
so? Do yeu know this of your own Bnowl-
edge? OF course it cannot be expected Of
you, as you have other pursuits of your own
to occupy your time, but the bidder knows.
They have operated the road since 1868,
and know its value to a dollar. Has not this
haste to make the purchase some signifi-
canoe? In view Of one party being posted,
and the other not, and in view that the bid
ding parties recently purchased the States |
interest in the road and paid SIS, 900 for it, |
with the stock and second mortgage bonds |
to be paid for hereafter. Now as to the in |
debtedness of the road it is say between five |
and six million dollars, represented by a |
road of ITO miles long which cost $780, |
600 to build, and cheap at that, with rolling /
stock and other property to make the value |
of the road six millions Of dollars, and has |
freight and passenger business, doing over |
the road greater than the capacity |
of the road to carry, and is running more |
miles in your own State than any other |
road in it. The road proposing to purchase
your stock has a bonded debt Of nearly |
s. SOC, 900, including three millions of Sc
cond mortgage bonds issued, and is only Isl
miles long. Suppose they were offered
thirty Tennessee bonds for 100000 of their
stock. What answer would be made to the
offer? The Managers would not call the
board together 10 consider it.
Gentlemen, your stock in the Nashville |
and Northwestern Railroad is worth to-day
100000 in Tennessee bonds, and will be
worth $1,000 in afew years. The taxpayers
ntrusted you with their interest, and not to
make any set of men richer at their ex-
)ense. Do your duty as you have
lone heretofore, and say to these gentle
men, Bring the books of the company be-
ore us and show for them the value of our
took, and when that is done and we act |
rom knowledge of facts, we will put a
rice on our property instead of you doing
o for US. You are an honorable set of
entlemen composing the court in
whom the people have confidence, and
will be your pride and boast to say here
fter that we were not verdant enough to
ct any person value our property, he having
Il the facts aud we not having access to
hem. We won't sell on any terms until I
re know the value of the property we have
or sale. Be slow to sell; wait, don't be in
hurry. 81.