Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1880-06-05
INC RaIIroaa BOND sult.


An American correspondent, st |
Nashville, removes a misappren-
sion as to the nature of the suit of
the bond-holders against the rail-
roads, recently argued before Judge
Whitney:
All the COUNSEL, both for the com
plainants and for the defendants,
admit that the state is liable. That
it Is a debt of the state is denied by
no one. The ground of complaint
is that the state has defaulted and
will not pay either the interest on
the bonds or the bonds themselves,
and therefore they seek to make
the railroad companies liable. 1t is
not denied that all of the solvent
railroad companies have settled
with the state, and the state has ac-
cepted what they have paid, in full
satisfaction of its claim against
them, and also that the insolvent
/ roads have been sold at the Instances
of the state, and that the state has
! received the prices for which these
/ roads were sold. In any event, and
no matter what may be the result
i VI ills 6QAA1 Vic obdNC ID DouA01 obAl0
i if it could be sued would be made
i to pay the bonds. The complain
! ants contend that the railroad COM
panies had no right to settle with
the state, but that they (the rail-
road companifE) had specific lien
upon each or those roads to pay the
bonds they hold, and that the pay
ment to the state was a nutility so
far as they were concerned. This,
the defendants, the railroad eOmpa-
mics, deny, and say they were only
bound to the state; when the state
was paid and satisfied they were re-
leased. This is the question now
before the court. The whole diff
Guilty grows out of the states refu-
sal to meet her obligations volunta-
rily incurred. The assertion that
the bOndholders, in suing the rail-
road companies, admit that the
state does not owe them, is absolute
ly false and simply ridiculous. Even
if the railroad companies should be
compelled to pay the debt again,
after having once paid it to the state,
this would only make the state more
culpable. After having issued bonds
and having received payment on
these bonds, to refuse to pay the
4 holders of these bonds and thereby
cause them who have paid them to
the state to have to pay them
over again would be an iniquity
I without q parallel. ~ &
N 40 - - ~ ! : : --.s-. = - ~ ~
This Years WOOI-CIIP.
The following extracts are made
from a letter written by Mr.. A. M.
Garland, of the national wool assO-
citation, to the Boston Commercial
Bulletin:
/ am of opinion that this years
clip will not show any marked in
crease over that for 1879, notwith-
standing the encouragement from
enhanced prices, which would seem
to have pointed to different result.
The somewhat discouraging days in
4 wool-growing turned the attention
\ of many farmers to wheat-raising.
The prospect for heavy
wheat harvest is very flattering, and
hence / do not look for a rapid
change, if any at all, from grain
growing to wool production in this
locality. / note no material change
in the condition of wool. Though
7 rather milder than the average, the
past winter was generally favorable
for feeding, and fOcks came through
in fair condition, and the yield per
head will be good. There seems to
be a growing tendency among flock
owners to shear "in the dirt"-i. e.,
without washing. This may show
an apparent increase in yield, while
the actual amount remains un-
changed. Many wOOl-growers are
disposed to hold their woods awhile,
in the hope that the recent decline
in prices may be restored. The
recollection that the advance of last
year benefited those who purchased,
4 rather. than those who grew the
wool, encourages this course. There
are some movements for the increase
of flOcks, and establishing new ones.
This is especially true of Missouri, a
state peculiarly adapted to sheep
husbandry, and destined ere long to
take front rank. Kansas will come
next, probably, and several enter
prises are on foot in Nebraska.
There is certainly no reason for ex-
pecting any such craze, however, as
sometimes overtakeS and turns the
heads of our people. tist .s