Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-02-28
THE CUMBERLAND AND OHIO.
what Was Done About the Proposition
10 Mortgage 10.

What Was Done About the Proposition
to Mortgage II.
Al the meeting Of the Cumberland and
Ohio Railroad stockholders in Louisville,
on Thursday, President DUlaney said:
The chief object Of the meeting Of the
stockholders, IS has been set forth in the
public notice converting you, is to consider
the policy Of mOrtgaging certain parts
Of your road, the graduation and masonry
Of which are already completed, and Ger
tain other parts, which are rapidly approach
Ing completion. The line Of policy adopt
ed by your board in going forward with the
work in detached divisions mas been
forced upon it by the litigation
in Washington and Barren counties,
and the peculiar conditions Of the
respective county subscriptions on the line
Of the road. In pursuance Of this manner
Of construction, as indicated above, We find
the work at this time in the following con-
dition, for the details Of which l respect
fully call your attention TO the report Of
the chief engineer, E. T. Falconnet: The
graduation and masonry Of that part Of the
road from Emiuence, on the Louisville and
Lexington Railroad, TO the Nelson county
line. 4 distance Of thiTty-fOur miles, will
be completed by May -, and the work
from the Nelson county line 10 BlOOmkeld
is advertised 10 let 10 contract, and can be
finished within five months. TGis viii
give tLirty-eight miles Of TOad-beG ready
for tie SuperStruCtuIe by July -, the
company having ample local means
10 pay for the graduation and Mason
~. To finish this part Of the road
and equip it for local traffic will require
St75,21T, equal to ST., sos per mile. The
graduation and masonry OF that part, Of the
road from Lebanon to Greens0urg, a dis
tauce Of thirtv-One miles, is finished, and
out of the local means Of Marion, Taylor
and Green counties, we have purchased
and had delivered at Lebanon twO-thiIds
Of the iron rails for the track Of this div
ision of the road. To complete it, however,
and equip it ready for local traffic would
require S24l.71S, equal to $500 per mile.
The road-bed from ScOttsville, Allen cOun-
ty. to Gallatin, Tenn, is not so we'll adj
vanced as either Of the above divisions,
the work is progressing slowly, and
it will require about 100000 to
complete the graduation and masonry
upon the thirty-fOur miles Of work under
contract between the points designated
above. Since the decision Of the cOmpany'S
suit against Washington county in the
Court of Appeals, we feel justified in taking
a more hopeful view OfyOur enterprise, and
at no distant day to resume the work in
Washington county and close the gap be
tween Bloomfield and Lebanon, which
would give a continuous grade from Emil
nence to Greensburg, a distance Of ninety
six miles. After exhausting tie local
means Applicable to this division, there will
be a deficit Of sol 900 upon graduation and
masonry, and 20 fully complete and equip
the road forlocal traffic will require l,ll6,-
900, equal to ST., 625 per mile. If deemed
advisable to mortgage the entire line from
a point opposite Madison, Indiana, to
Nashville, Tenn, with branch from some
point at or near TaylOrsville, Spencer coun-
ty, 10 Louisville, it will require, after ex-
hausting the local means $4,000 per mile
to complete and fully equip. the entire line
of Isl miles.
4 resolution was presented, after the
reading Of President Dulaney's report,
authorizing the Board Of Directors to mort
gage the road, which gave rise to lengthy
discussion. A substitute was offered,
which was carried, directing the board, if
in its Judgment it thought necessary, to
cali a meeting of the stockholders at any
time before the annual election in June, TO
discuss the question under consideration