Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1874-01-17
RETIRING THE DEBT.
A Monied Mission to New York by our
State Authorities.
Over 5000, 900 Of Bonds Cancelled
Tennessee Bonds on the Stock
Exchange.
SixoMilliOn Transaction Of the Nash
vile, Chattanooga and st. Louis
Railway.

Comptroller Bureh and Mai. Wilkes,
Secretary to the Governor, returned
hereyesterday from New York, whittier
they went about ten days ago to trans
act business in which the State and
the Nashville, Chattanooga and st.
Louis Railway were interested parties.
The heavy payment made by that line
to the State has already been published
in the Banner, but there are some ad-
ditional facts eoncerningt the mammoth
transaction that will bear noticing now.
That company, as heretofore stated,
retired its entire indebtedness created
by the purchase of the Northwestern
road, to the State, by the payment of
81 ,170, 900 in bonds, and $2i5,700 in
past due coupons, making total of
81, AIS, 200. In addition to this, it has
paid over to the State S375, ,0S9.95 in
bonds of the State, in satisfaction of
the debt due from it on account of
bonds loaned it. 1t has also, under an
act of the Legislature providing for
such an arrangement, paid over to the
State 81 ,425, 900 of the first mortgage
bonds of the Nashville, Chattanooga
and st. Louis Railway (consolidated)
for the bonds of the COMPANY indorsed
by the State. These transactions have
reduced the State debt So, ,215, ,7S9, and,
beside, retired the entire second mort
gage bonded debt of the Nashville,
Chattanooga and St. Louis Railway,
amounting to s3,0O0,OO0. And now the
company has out only one series of
first mortgage bonds, which will rank
among the first IN the country. 1t
being required by enactment, the
Sc, 100000 of second mortgage bonds
we're counted and cancelled by Gov
ernor Brown and Major Wilkes, at
New York, last Friday, the whole day
being required in the performance of
that duty.
The bonds paid over to the State for
the Northwestern road were received
here. Thirteen hundred of the bonds,
or 81 300, 900, paid in the cancellation
of the debt of the company, were can
celled here yesterday by Maj.
Wilkes.
Maj. Wilkes says that New Workers
express great confidence in Tennessee
bonds, and regard them as good an in
vestment as most other bonds put upon
the market.
Comptroller Burch brought with
him the following report of a commit
tee, indorsed by the New York Stock
Exchange, regarding the status of Ten
nessee bonds in the market:
COMMITTEE ON SECURITIES,
New YORK SToCK EXCHANGE,
NEW YORK, Dec. 26, 1873.
An act of the State of Tennessee.
March II, 1873, providing
that all outstanding legallyissued bonds
of the State due, or to become due be-
fore January l, 1874, as well as all
past due coupons maturing on, or
before January l, 1874, may be funded
In per cent. coupon bonds of the
State, to be styled THE New Series of
Funding Bonds" redeemable at the
option of the State after July |, 1884,
and due aud payable July l, 1914, bear
ing per cent. interest, with coupons
payable January and July in
each and every year from, and includ-
ing July L, 1874, to the maturity of the
bond.
This committee recommend that
said bonds, No. l to 5000 inclusive,
dated on the day of issue, each for
l 900, be placed upon the regular list,
and that the call of Tennessee bonds
hereafter be as follows;
Old bonds, coupon on, namely those
issued prior to and including letter
&C" No. l, to 1873 inclusive, dated
January l, 1861, with coupon on, due
July l, 1869, and all subsequent.
Old bonds, coupons of, ten coupons
of, due July l, 1869, to and including
January /, 1874, leaving coupon due
July l, 1874, and all subsequent attach
ed to the bond.
New bonds, coupons on, bonds dated
January /, 1866, and thereafter with
coupons on, due July /, 1869, and all
subsequent.
New bonds, coupons of, ten coupons
off, due July |, 1869, to and including
j January l, 1874, leaving coupon due
July l, 1874, and all subsequent at
tached to the bond.
New series funding bonds issued
under act approved March II, 1873,
dated the day issued, numbered ] to
5000 inclusive, redeemabls at the
option of the State after July l, 1884,
due and payable July l, 1914, with
coupons on, due July l, 1874, aud all
subsequent coupons on the old and
new bonds maturing on and after July
l, 1874, will not be paid by the State
until the bonds to which they belong
have been presented to the Comptroller
and examined and registered, and the
registration properly indicated thereon
by him and the Secretary of State
the old and new bonds, aoith coupons
off, must be registered by the Compt-
roller and Secretary of State to be
delivery.
EDWARD BRANDON.