Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1879-03-06
road books will show.

1863 and 1870, under which the rail-
roads were allowed 10 pay indebted
ness to the State in bonds?
A. Yes sir, | remember them.
@ Were the roads solicitOus tor the
passage of these or similar acts?
A. 1 suppose they had considerable
to do with them, but just how much
or what | do not know. Mr.. Muir
dock told me that he prepared the bill
of 1869, and / think he was perhaps
more active before or in this legisla
ton than any other man.
O., Were Col. McGhee and Mr.. Cal
loway also ia favor OF these acts, and
did they not attend at Nashville &c
secure their passage?
A do not think Mr. McGhec at
tended Ia 1869, but think he and Mr.
Galloway were there in 1870, hut how
long do not know.
O.. Do you know of fund having
been raised in Tennessee or in Ne"
York, or in both, at any time by rail
road officials or other parties, to be
expended i'm sending persons to Nash
vile to Influence legislation in their
interest, or prevent Legislation deemed
unfavorable?
a. don't think | do. These two
bills were all which / remember to
have had any bearing on railroads,
and remember 10 fund being raised
to secure their passage.
@ Do you know or any money or
other thing of value being offered or
paid, directly or indirectly, to any
member Of the Tennessee Legislature,
or to any person for his vote or in
0uence on measures therein pending
or TO be Introduced, looking to the
grant paid to railroads, or t. allowing
railroads To pay their Stale debt in
funds of the State, Or to secure the
passage Of the funding act OF 1878?
A. L don't know that 1 do. There
may have been money paid to parties
for their votes or influence, but know
nothing of it. Ii | ever heard Of any
person don't now remember it.
q. Has it not been customary for
Wall street to send persons, or lob
byists, To the CapitOls OF the different
States, pending sessions OF their Leg
islatures, TO inf Ience legislation when
measures affecting securities held by
Wall street were pending, and have
sou not learned or heard il stated as a
fact that such persons, or lobbyists,
were sent to Nashville, at the times
alluded to, TO wit: pending the pas
sage of the acts allowing railroads to
retire their STATE Indebtedness in bonds
OF any series, legally issued, OF acts
granting other and further aid to rail-
rOads, aud of the funding act of 1873?
A. | DONE know that il is customary
for Wall street TO send such lobbyists TO
the Capitols of the different States. 1t
may have occasionally sent out man,
or party Nor do know of such lob
byist being sent out to Nashville pend
ing the passage OF the acts referred TO
in the question, nor do | believe that
the Tennessee bOndhOlders ever united
to affect legislation. The railroad
officials may have united t. secure the
passage of said acts, but do not know
this nor do | believe if they did that
the bOndholders united with them.
Q Was Col Thomas Galloway an
influential an controlling railroad
man in Tennessee for a number OF
years after the var?
A. / think he was.
@ d. you remember the investiga.
tons instituted by the Legislature of
1SG9-70, a TO the issuance of railroad
bonds by BrOwnlOw or Senter?
A dn nOt. [ suppose / did, but it
has passed out of nay mind. / never
read the Investigations.
@ As a matter of fact, after these
nvesfigation were begun, did not the
looking to the recOnstruc-
ton of the State assume active and
form?
a Not that / know of. | know
nothing Of 1t, aud paid no attention
to j.,
@ Did not Col. McGhee visit New
York and consult with holders of
Tennessee hrnd-, or holders of other
bonds, AMI tr, To persuade them to use
their influence agaiH-i recOnstTuC ion ?
A. | don't think l did. / never
heard Of any intimaLiOn Of this kind.
he may have done 80, however.
@. Were not most, If not all, OF Il q
then I'm favor of recon~
'truction, on the ground that with the |
) ate under military government 1T |
could be forced to pay, and thus they |
would get their money and interest?
A. 1 had no means Of knowing the |
minds Of bondholders, and never
heard Of them so expressing them
elve5.
Q Are they not low expressing
a. mselves in favor Of the United
states making the State pay?
A. | don't know that they are. i
rave heard 40 such expressions at all.
may have seen editorials of paper
nen indicating such desire, but moth
ny from the bOndhOldrrs.
q Please state if Mr.. Galloway and
Yourself entered into any kind of
greement or Negotiation looking to a
oppression OF the stock in your road,
nd then purchasing il in order to get
ntire control?
A | Il not think | ever entered in
} any agreement to depress the stock.
DID have an agreement for the pur-
base OF stock with Galloway and 9TH
r parties, through which | hoped to
urcha5e enough st OK to secure a
roper management Of the property,
ut not to be exercised in any i'm
roper way. If | ever entered into
n agreement to dress the stock |
omit remember il; or rather, il ever
Id anything To depr' 81 the a.Ock
ont remember it.
@ Did sou ever propose to Thos.
aflOway and II G. Jackson, or either
them, To water or run down the
abroad stock Of the E. #. d Ga, or the
. II. 81 Va. in order to buy it up and
len sell 1t out to an English or some
,her company?
A. Well, | don't think did. | naay l
ave suggested something TO this ef-
Ct, tn have the stock Increased, but =
don't think it was for purely specu- q
tive purposes in the stock at all, but o
n the purpose OF raising money on II, e
Id probably for the purpose OF O
scuing the property from a man v
cement that WAS not satlsfActO-