Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1877-01-18
The Governors Message
concluded ]
TIE pENrTENTIARY.

Ihe IesSees now pay a reward
iof S25 twenty-five dollars) for
The capture of escaped conyicts.
1t will cause more care and watch
| tfulness on their part than hereto
fore, if they are required to offer
such reward as the Superinten.
dent of the prison may decide is
necessary, and be compelled TO
make publication of it whenever
he decides that it is important.
INSPECTOR OF THE PENITENTIARY.
No necessity now exists for this
Office. The duties once required
of them can be performed by the
Superintendent without an in.
crease of compensation.
DELINQUENT RAILROADS.
On the Sth of May, 1876, the
Railroad Commissioners sold the
Tennessee and Pacific Railroad at
public outcry, to the highest bid
der, to satisfy an unpaid balance
due ID the State, amounting to
SI5O,0O0, with interest from July
1st, 1870. The company became
the purchaser, and has paid
through the counties of Davidson
and Wilson, the sum of $l7S,900
in the bonds Of the State, leaving
a balance of $500 in bonds and
.S10,650 in cash unpaid, for the
payment Of which no provision
has yet been made.
The Knoxville & Charleston
Railroad was sold by the Commis-
sioners to Messrs. O'Conner & Co.,
at the price of S75, ,OOO--one- fourth
in cash, and the balance in one,
two and three years. One half OF
the purchase money has been paid
in the bonds of the State, and,
with the bonds received from the
counties of Davidson and Wilson,
have been Cancelled, and are on
the 6le in the. office Of the Comp.
troller of the Treasury.
The Mississippi Central Rail
road failed to pay the semiannual
interest due lst OF July, 1879,
and 1ot January, 1876, on the
bonds loaned by the State. On
the 25th day of February, 1876,
[ appointed 2, 2. Neely, of the
county of Hardcman, Receiver,
and, under my directions, he took
immediate possession of the road,
and has been operating it in the
interest of the State. Since this
road has been in tie hands Of a
Receiver it has been kept in good
repair, its running expenses paid,
and the sum OF 100000 paid into
the Treasury of the State on ac-
count of taxes and interest. This
management on the part of Gen.
NeeIey occurred at time OF great
business prostration, and is much
to his honor and credit. Negotia.
tons are now pending, by which
the past due interest and sinking
fund due from this company, and
possibly the interest not yet due,
will be paid at an early day.
MEMPHIS g. LITTLE ROCK RAILROAD.
invite attention to the follow
ing statement Of facts made by my
immediate predecessor in bis mes
sage to the Thirty-Ninth General
Assembly. 1t discloses the reason
why / have not taken action un-
der resolution number Y, adopted
by the same Legislature, ins;ruc-
ting the Governor to institute SUIT
for the enforcement OF a claim OF
the State against the company:
"The act of the 2lst Of Februa-
ry, 1856, extending aid to the Lit
tie Rock Company, authorizes the
Governor of the State to endorse
$50 bonds of the city Of Memphis
for one thousand dollars each, 10
be paid to the Memphis and Little
Rock Railroad Company, provided
the said Memphis and Little Rock
Railroad Company should first en-.
dorse each of said bonds, guaran-
teeing payment Of principal and
interest of the same, and provided
further, that the city of Memphis
shall frst, by its proper authorl-
ties, execute mortgage, giving to
the State of Tennessee a priority
of lien on the stock and interest
of said city in said railroad COM
pany; and provided further, that
said railroad company shall give
to the State of Tennessee a prior
lien upon the whole Of the iron
and equipments upon the first di-
vision of said road, extending from
( Memphis to the Saint Francis riv.
er in Arkansas, etc. Section II
of said act provides further, THAT
the said city bonds shall not be SC
endorsed until the proper author
tiles Of the city of Memphis shall
provide and set apart a fund
known as the sinking fund, out of
which shall be paid, over and a
:, A. ~, par nant iuterest twc