The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1876-02-17
Nj. s. X. r.. r..
Why the Subscription has not
been Made.
A few Facts and Fancfes.

around in regard to the subscription
made by the corporation of Pulaski
to the NJ. d K. Railroad two years
ago, or rather the subscription that
was not made. The voters OF Pu-
laski, on 9th Of June, 1874, voted
$4,000 to this road, under a reso-
luton of the Board of Aldermen
submitting the question, and that
our readers may more fully under
stand the condition of the matter
from that time to this, We copy some
OF the provisions OF the agreement
entered into by the Board and the
R. r. Company, upon which agree
ment the whole questions at issue
are based. The first article of that
agreement provides that "the Mayor
of Pulaski shall subscribe
$4,000, to be paid in the
bonds of the corporation =" N,
where is it said at what time or in
what manner the Mayor shall make
the subscription. The books were
not presented to Mayor Osborn in
1874 for the subscription, and were
presented to Mayor Stanley in the
latter part of 1875, who declined to
make the subscription upon the
ground that it was Mayor Osborn's
duty to have done so and he did
not feel called upon to take the re-
sponsibility. Mayor Stanly had
previous to this issued 1900 in
bonds to the Company, provided for
under the 9Th section Of the agree
ment, not knowing but that the sub
scription had been made. We
append a copy of that section and
the 9th. as the only ones bearing
upon the point in question here:
''Sec. 6.-The bonds of the cor
poration of Pulaski in payment of
said subscription shall be issued
only as follows: Upon the applica-
ton of the President of said Com
pany bonds TO the amountOf 81 800
shall be issued to pay the expenses
of the engineer corps in making
surveys and estimates so as to let
out the contract for grading said
road in Giles county, The remain
ing bonds shall not be issued until
a written statement, signed by the
President and Engineer of said rail
road company under oath, has been
filed with the Recorder, showing
that sufficient means, in their esti-
nation, have been obtained to grade
and cross-tie the road from Pulaski
as far west as the town of Lawrence
burg, and not until the contract for
grading the road between these
places, and including the entire line
between these places, has been let
out and the work commenced.
Then the remaining bonds shall be
issued in monthly installments to
pay for the work as it is DONE"
''Sec. 9.-This subscription shall
be void and of no effect unless the
entire line of the road from Pulaski
to Lawrenceburg, or TO a point as
far west as Lawreneeburg on the
general line indicated, shall be
placed under bona tide contract and
be in actual process Of construction
within two years from the date of
the taking of the vote as herein pro-
vided."
The question now stands thus:
The books were not presented to
Mayor Osborn in 1874 for the sub
scription; they were presented to
Mayor Stanly in 1875, and he de
clined for the reasons stated; and
now we understand that Mayor Os-
born, who was reelected in January,
declines to make it. We give it up
on good authority that the Mayor
will adhere to his determination
not to make the subscription until
the company resorts to a mandamus,
and that then the whole question
will be taken into the courts and
the whole matter contested. In the
event the railroad company seeks to
enforce the collection, able lawyers
have been retained to resist, and
they confidently hope to overturn
the whole proceeding. They say
that the subscription WAS voted to
be made to the Memphis d Knox
Vile railroad, with termini at Mem
phis and Fayetteville, and that now
they have changed the termini tc
Clifton and Pulaski, and hence it is
not the same road. That the com
pany is operating under void
charter, the reasons of which "
will not mention. That the sub
scription as voted by the corpora
ton is void for statutory reasons
and that the company has not com
piled with the terms Of the agree
ment. We do not know that Mayo
Osborn has anything to do with tn
movement, but suppose he is pursu
ing a course that viii not iuvolv
him in any responsibility. We hay,
heard that he is about to resign
and we have heard it conHadicted
, We do not see how he can be he'll
responsible for making the sub
scription, as there is peremptor
direction by the Board that he shal
do so. The issuance Of the bonds
, another matter, and Of course he wi
not issue them until the condition
of the agreement have been con
piled with. The company has ant
the 9th June next to comply wit
e the conditions, and if they are nc
e ready then the whole subscriptio
viii fall through Of ITSELF exceT
the $1,000 which has been issue,
- That part of the business is in a p
g culiar condition. The bonds WEI