Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1878-04-04
IMPORTANT QUESTIONS
COnsidtre by the Shelby County
COurt-Order Dismisslng the Sell
ma Railroad Suit Petit
tlOn from the Browns.
Vile Narrow Gauge
Railroad.

The court to-day has been engaged in
routine business, aud tomorrow will
make assessments.
h SELMA RAILROAD.
Among the questions Of deep interest
to Memphis, and indeed one Of vital i'm.
portance, is that of direct railroad con-
n%ection between this city and Holly
Springs, Miss. The County Court yes.
terdsy afternoon acted upon and granted
the petition of William NJ Forrest and
Jesse A. Forrest, executors OF the will OF
the late General N, B. Forrest, Henry
B. Edmondson aud Hon. Jacob Thomp.
sen, as will be seen by the following
order, which passed with but one dissent.
ing vote, aud this by Justice II. B.
Ramsey:
1t is ordered by the court that the
county attorney be and is hereby in.
structed 10 have the causes now pend.
ing 10 the Circuit Court OF Shelby county,
Tennessee, wherein the county of Shell
by is plaintiff, and the Selma, Marion
and Memphis railroad company and
others are defendants, dismissed at the
cost Of the defendants.
THE PETITION.
In concluding the lengthy paper, the
petitioners say:
A bill was fled ia the United States
District Court, praying the Federal Court
to make an order requiring the County
Court to levy a tax upon Shelby county
to raise the money necessary to meet the
three installments yet unpaid on the
subscription for stock in the Selma, Ma
rion and Memphis rsilread. 1t was
claimed that the county had no right,
under the law authorizing it to subscribe
for stock, TO impose conditions, and by
subscribing for stock with conditions;
that the conditions we're null aud void,
and the subscription was absolute and
binding; and after a full hearing the
court decided that this court had NO
power to annex conditions TO its sub,
scriptions, and in doing so they exceeded
their power, and that tie subscription
was null and void" The bill was dis.
missed, and bis honor, Judge Baxter,
held that as the subscription was made
in such form and with such conditions as
to render it wholly imperative aud void,
this court has no power to Impose the
tax on the county necessary to raise the
money to pay these installments." The
county is therefore relieved Of all
apprehensions that it will ever
be required to pay the three last
installments. The courts accept
that decision, and your petitioners
hereby submit it to the candid consider.
alton Of this honorable court, whether
the decision is not conclusive of the case
of the county against the railroad, and
whether in difference to that opinion it
is not an incumbent duty to dismiss the
pending suit ordered by it against the
railroad aud its sureties, and thus save
the parties when they only came forward
TO aid a public enterprise(andEe on The
bonds of the railroad from no motive but
that of advancing the public coed, and
aid in building up our community. from
onerous taxation OF costs and teavy
attorneys fees. Your petitioners,
though harassed and embarrassed by
this suit, and injured in their credit,
have, Notwithstanding, heretofore made
and will continue to make the most
strenuous efforts to have this road built,
at all events as far as Holly Springs
They believe its construction will re-
dOund greatly to the interest and ad.
vaucemeut Of Memphis and Shelby
county, and they pray this honorable
court to aid them in their efforts aud not
cucumber a good work. Your petition.
ers therefore pray that the suit now
pending in the Circuit Court of this
county, indexed as The County Of Shelby
VS.. The Selma, Marion and Memphis
Railroad Company, aud others. BIZ dis
missed, and that an order for that pur
pose be entered upon the minutes of the
court.
II BROWNSVILLE NARROW GAUGE
In addition to this the court also
passed an order upon petition of the
Holly Springs, Brownsville and Ohio
Narrow Gauge railroad:
On motion this petition Of the Holly
Springs, Brownsville and Ohio Railroad
Company asking an exchange or substi'
tuition OF six per cent. bonds for eight
per cent. bonds was referred to Justices
Elliott, Crockett and Coleman, with Judge
Holman ard Julius Taylor, county atlor
ney, as a committee to report its actioR to
this or SOME other subsequent term OF
this court.
This petition asks that the above COM
pany be allowed to take up the $4,000 Of
first mortgage bonds Of petitioner now
in possession of Shelby county as
security for the performance Of a con
tract entered into by petitioner and the
said county, and substi'ute, instead CT
sight per cent, bonds, other bonds be9r.
log six per cent. interest, he former
to be Cancelled aud the latter to
b. held under the terms and
conditions OF the contract above men.
toned. The reason alleged for this
exchange is that the eight per cent.
bonds bear a biz her rate of interest than
allowed by law 10 Tennessee, and the
petitioner is aoprehensive that the courts
may so determine. The company states
that their bonds bearing eight per cent
interest had oil been printed and we're il
the hands of tia company, and, in son'
instances sold, Before the passage of The
IL al. L.1 ~ (: