Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-06-09
THE TENNESSEE PACIFIC.
Wilson County Starts a Big InTesti-
CATION.


She Wants to Know all About Those
B0nds-A Commission Of Lawyers
Appointed to Smell il all Out-NO
More Interest 20 be Paid Until They
Report.
At the April term Of the Wilson County
Court, it was decided no. TO levy tax for
ire purpose of meeting the interest on the
bonds issued by the county in aid Of the
Tennessee and Pacific Railroad, until the
matter could be further considered at an
adjourned session TO be held on the first
Monday in June. The adjourned session
was accordingly held last Monday, and
some very important action taken, the pur-
port of which is given in the following
order, adopted with only one dissenting
voice:
Whereas, the Tennessee and Pacific Rail-
road was built at a cost Of over 81, 100000
in bonds issued by the State of Tennessee,
and the counties Of Wilson and Davidson,
besides about $4,000 Of private stock: and,
Whereas, said TO I'd has been in operation
for near five years, and has never paid one
dollar to the stockholders Of the same; and,
Whereas, the taxpayers are Of the opin-
ion that there has been a waste Of the as
sets BY its managers, for which theyshOuld
be held personally liable; therefore,
Be it resolved, that we, the representa-
tives of the taxpayers of Wilson county,
feel that it is our duty TO guard their inter
est in said road, and see that the funds
have been properly applied, and that the
officers and agents Of said road be held to a
strict accountable. Or all the assets
which have gone into their hands.
Be it further resolved, that Il. Cantrell
be and is hereby appointed attorney by the
County Court Of Wilson county, to exam
inc into the affairs Of said company in be-
half of the interest Of Wilson county, and
to ascertain if the bonds were properly
issued, and what disposition was made Of
them: and whether or not a proper and
legal disposition has been made Of the en-
tire assets of the road since its commence
ment; and if our said agent deem it eXpe-
dent, he may employ one or more attOr
news or agents to assist HIM in the exam
ination into the affairs of said company:
and if in the opinion Of our said AGENTS jus
tice demands a suit TO be brought, he is
hereby authorized and directed to bring
suit or take such other steps as he may
deem advisable to protect the interests Of
Wilson county in said road.
Be it further resolved, that K. Cantrell,
E. 1. Golladay, a. B. Martin and II. \.
Riddle, Esqs., be and are hereby appointed
attorneys to prepare an opinion advisory to
the County Court, as to whether or not
the bonds issued 70 the Tennessee and Pa
cifc Company were properly issued or not
under the laws then existing, and whether
or not the same are valid and binding in
law on the county and its people Of Will
son. said attorneys will inquire whether
! or not the said County Court Of Wilson is
bound and obligated to levy tax in
order to pay the interest on the
bonds so issued, and report in their
opinion how the question is in law, and As
to the duty of the County Court.
The said committee Of attorneys will re-
port their opinion in law whether or not
the county of Wilson is bound for the
bonds and interest thereon so issued to the
Tennessee and Pacific Railroad, and
whether the county is compelled in law
and honor, through its proper agents, to
provide for payment Of same,
In addition to the able counsel mention
ed in the order, Mr.. ). 5. Cause, Of the
Lebanon Bar, Will take part in the inyesti-
CATION, which will be entered upon at once.
The affairs Of the Tennessee and Pacific
would certainly appear to be in bad way
at present. Next August, the balance
S15O,OO0-Of the purchase money due the
State has to be paid, and Gov. Potter in
Inmates, we understand, that he will
promptly fOreclose the mortgage unless the
amount named be forthcoming.