The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-27
OLD TENNESSEE BONDS.
THE BILL FILED AGAINST ALL THE RAILWAYS
IN THE STATE

IN THE STATE.
NASHVILLE Tenn, Jan. &c 1879.
The bills filed yesterday in the interest of the hold
ers Of the old Tennessee bonds by Edward L. An
drews, attorney, in connection with Judge George
Hoadley, of Cincinnati, with Charles O'Conor
counsel and adviser IN New York, have had natu-
rally startling effect. The bills against the Mem
phis and Charleston. the Memphis. Clarksville and
Louisville the Mississippi Central, the Mobile and
Ohio and the Memphis and Ohio Railroads; and at
Nashville to-day against the Louisville and Nashville
Railway and its branches, the South Eastern,
the Central and the Southern Tennessee
and Alabama; Nashville and Chattanooga, Nash
vile and Northwestern. McMinnville and Man
chester and Winchester and Alabama. On Monday
he will file at Knoxville bills against the East Ten
nessee. the Virginia and Georgia, the Knoxville and
Kentucky. the Rogersville and Jefferson and the
Cincinnati, Cumberland Gap and Charleston rail-
roads. These bills apply for receiver so as to col
lect revenues to pay back interest the bonds,
some OF which fall due m 1892
AMOUNT BONDS.
The amounts OF bonds having lien and outstand-
ing against the roads are as follows:-
Cincinnati. Cumberland Gap and Charleston.
s337.Oo0
East Tennessee. Virginia and Georgia. s2.ss9ooO.
Memphis and Charleston, SS41.0O0.
Making a total under Wilson's system of roads of
s3.557oOO.
Louisville, Nashville and Great Southern. embrac-
itself anu branches, including Memphis ClarkS-
vile and Louisville Memphis and Ohio, Tennessee
and Alabama and Central southern s3,l69,0o0.
Nashville. Chattanooga and st. Louis Railroad. en-
bracing Nashville and Northwestern, McMinnville
and Manchester. and Winchester and Alabama,
S2.3s1. 1000
Mississippi Central, s4ss,OOO.
Mississippi and Tennessee, $685. 900.
Mobile and Ohio, $96O000.
There is twenyone per cent of accrued interest on
bonds, amounting to sl2453,0U0, standing besides
S2.4330O0 funded bonds.
THE NASHVILLE. CHATTANOOGA AND ST. LOUIS.
In an interview with President Cole, of the Nash
vile, Chattanooga and st. Louis Railway, with ref
to the suit, he said that there only
sl2O.0oO Of those bonds OF the Nashville and Chat
tano Jga Railroad outstanding The question of the
bondholders' liens granting that it might be
sustained, which is extremely doubtful, could not
affect his company more than the interest on that
amount the value of the $4,000 in State bonds
The Nashville and Northwestern Railroad sold
in 1871 in conformity to law, under a decree
of foreclosure of the Chanccry Court at Nashville
which suit instituted by the State the State
bondholders and all other parties Interested being
before the Court by notice and publication, OF
them appearing and setting up their rights such
holders of the State bonds bought by the Nashville
and Chattanooga Railroad Company, now the Nash
vile. Chattanooga and st. Louis hallway, which pur-
chase afterward confirmed by the Chanccry
Court and the consideration for which the road
sold being promptly paid to the State The State
bondholders before the Court rendering the de-
and after ~ full hearing the Court decided that
these bonds did not constitute lien upon the road
They never appealed from the decree, but permitted
the property to to sale and the sale atcrward
confirmed by the Court. which, in this cffcctuay
cuts them Oh, Wnetiicr inc tpurt uctucu tncir
rightfully not. as am legally advised. and this
company has held adverse possession cf said prop
crty under that sale tor more than seven years.
BRANCH ROADS.
The branch roads owned by this company
purchased under the DEGREES of said Court and the
acts of the Legislature and promptly paid for. The
bonds paid to the State by this company were pur-
chased ON the stock Exchange in New York city in
1sT2-3 and cost upon an average seventy 1--WE cents
the dollar From the very best legal advice which
have been able TO get do not fear this ques
ton in any way.
No bills have been filed against the Tennessee and
Pacific and Knoxville aud Charleston railroads.