Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-04-21
COUNTY COURT.
Aiding n HOmeIess-The Tennessee
and Pacific Railroad Matter-PrOPO-
siffons 90 Lease the Road.

Aiding the HOmeIess-The Tennessee
and Pacific Railroad Matter-Pr0pO-
sitfons 20 Lease the Road
~ The Davidson County Court met in
special session yesterday morning at 10
O'Clock, Judge Ferris IN the chair and the
following magistrates present: Justices
Bigley, Bowen, Bush, Butler, Brantley,
CaSsetty, Chandler, Chickering, ChiidreSs,
Cheatham, Creighton, Davidson, Dilla-
hunty, DuIing, Everett, Galbreath, Graves,
Gray, GleaveS, Haynie, Hardy, Hooper,
HoWs, Howell, Harris, Kerrigan, Marshall,
Maxey, Meacham, Miller, Mayfield, Newly,
Neylan, Patterson, Paul, PEBBLES, Phelan,
Power, Read, Saunders, Spain, Sizemore,
Steele, Sullivan, Still, Taylor, Treppard,
Wade, Walsh, WherTy and Williams.
After the transaction Of some road busi-
ness, Justice Duling offered the following
resolution
sTWhereas, by the recent storms and freshets
hundreds of families have been driven from
their homes, mary of whom are in a very
destitute condition, and have not the nee
essaries of life; therefore,
Be it resolved by the County Cont of
Davidson county, that the sum of two
thousand dollars, or so much thereof rs
may be necessary, be, and the same is here
by appropriated, out of the County Treas
uy for the purpose of relieving the suffer-
ing poor, who have been thus compelled to
abandon their homes.
Resolved further, that the Chairman of
the County Court be directed to take
charge of said funds and distribute the
same to the best advantage, and so as 10 re-
lieve the greatest number of persons"
Judge Ferris ruled the resolution out of
order upon the grounds that there was no
law authorizing the same.
Justice Duling appealed from the de-
cisiOn of the chair, and the appeal failed to
be sustained.
Justice power offered a resolution appro-
priating s. 1000 for the same purposes.
Justice Kerrigan said that he knew Of
families that had laid out in the cold and
wet weather for three nights. and he said
they were suffering to a great extent. He
hoped that no heart would be so callous as
to refuse this appropriation:
Judge Ferris said that he would refuse
to violate the law if old scratch would
come, and he wanted them to understand
it. He said that he had 500 of the money
ordered TO be appropriated at the last term
of the court.
Justice Cheatham said that this was an
emergency that ought not to be overlooked.
He thought that it was the sense of the
Court if they could get resolution legally
before them, to vote something to relieve
the distress. There were some Of those
who had been driven from their homes who
did not have a dime to buy bread and meat
with, and who did not have beds TO sleep
upon, and would not have for weeks TO
come. He asked that the appropriation be
made in the behalf of the suffering human
ity, women and children who were suffer-
ing for bread and meat.
Justice Maxey asked if they would yiO-
late the solemn Oaths they took before en-
tering upon the duties of their office, for
the sake of an appeal for humanity. He
said that he would not be gailty Of such a
thing. If they could find one iOta Of law
that would give them the right and power
TO tax the people to relieve the wants Of
those who have met with misfortune, then
he would go with them.
Justice Meacham offered the following
resolution in lieu of all others:
ssResolved, that in addition to the apprO-
priation of 81, 800, made for the benefit of
the poor at the April meeting of this court,
S1,0G0 be and the same is hereby approPri-
ated under the requirements and regula-
lions Of the said former resolution"
Adopted by a vote Of 30 TO II.
The regular order of business, being the
consideration of the report of the
TENNESSEE AND PACIFIC RAILROAD,
was taken up
Gen. Nancy, President of the road, after
making a short explanation as TO the time
of making reports, read the following re-
port:
OFFICE TENNESSEE AND Pacific RAIL
ROAD COMPANY, NASHVILLE, April 20,
IS74-To the Board of Railroad Commits
sioners for Davidson County: Gentlemen
In response to a resolution OF the Worship
full the Davidson County Court, the follow
ing report of the condition and affairs of
this company to the 3lst of March last is
respectfully submitted:
Reference to former reports will show
there was drawn by the President Of the
company, under the internal improvement
laws, bonds of the State, less July, 1869,
oupon S1,1S5, 900, and the accompanying
table A, is his account of the same. Treas
urer'S statement, b and &, show liabilities
and assets of the company, and its balances
TO the 31st of March past; while table ID
shows the means which as surplus can be
applied to canceling the balance Of debt due
the State.
Ii is to be remarked, an increase o Ifs
in the company assets, as shown in these,
over tables of the last annual report, arises
from a Misrepresentation rs TO rate of inter
est on a portion of the company's claims
which draw 10 in place of 6 per cent. in.
tereSt.
MORTGAGE BoNDS
All the money heretofore derived from
49, g .1,a y,nrfnaro l,,.,le f,-,4lar r-fsl
$500 received from the Treasurer. was
applied 10 purchase bonds for payment Il
the State and protecting the coupons and
over due bonds on hand, which can, by
funding. be now made available for thu
next State payment; and il may be added
that it is an express condition that all pro
ceeds of such mortgage bonds shall be so ap
piled.
Table ID. shows that with application o
the company's surplus means, excludin,
SII,53S, unpaid stock, there will only be
deficit Of S4a, :. PC to entirely discharg,
the company of debt, and if all these means
are not Immediately available, the defici
can be easily supplied from the mortgage
bonds authorized, and as the companyi
surplus assets are realized their proceeds
can in turn be applied TO calling in an,
cancelling these mortgage bonds, as is pro
vided on their face. BY j~udicious manage
ment under such a plan the company vii
only owe, as shown in the table, the small
sum Of S45, 1926 for a perfect discharg,
from debt, and this amount is justly en-
titled to a reduction of S7,3S0.00, as will b
hereafter seen.
NET EARNINGS.
l have not been able to closely cOmpar'
with the Treasurer on this particular, bu
my conclusion from the data before me j
tLnt thn not EARNINGS hove hean asEinllnMs