Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1880-01-24
Memphis and Holly Springs Rail.
road.
Holly Springs South, 81.

h0ly Springs South, IL
w have not seen or learned the
provisions Of the bill introduced into
the legislature by Gen. West for the
incorporation of the Memphis and
Holly Springs railroad. But if the
rumOr is true that it means a railroad
TO Collierville rather than Memphis.
though that will be better than moth
ing, we think that it is not what we
want, nor perhaps less expensive to
build than a through road to Mem
phis. We are now informed that the
bed of the s. NJ. & Memphis railroad
has never been decided away or other.
wise legally Invested from the pro-
p%rletors Of the land through which it
runs and has been graded. And in
that case it would seem that this great
mountain of difficulty between certain
bondholding creditors and the road
with which the courts and the public
have been so long vexed must 20 for
nothing, so far at least as this western
end or that portion of the road which
lies between Holly Springs and Mem
phis, is concerned. The sale. if made
on the I'D of March next as we learn
is % advertised for the benefit of
creditors, will fall short o! conveying
any title to purchasers at such sale.
The defunct corporation can hardly
be made the efficient instrument of
diyesting an ownership of the original
prOpriet0rs of the soil, when. by rea-
son OF its own shortcomings and de-
faults 1t has never secured any deeds
or title thereto by paying any equiya-
lent IN furnishing a road, or BY max
ing payment of any sort for a property
the owners have never surrendered or
intended to donate on completely
forfeited and u|neXecuted con
dltlOns. The owners in fee
simple Of the soil have never been
parties to the squabble between the
bondholders and the road, and are
therefore not bound by any Judgment
or decree of the courts touching their
rights and interests. Titles which
were contemplated to be made were to
be made for no other consideration
OF the road by the. railroad company.
which has long since abandoned all
pretense of effort to prosecute the en-
terprise. If any deeds have been made
In either ofthe counties through which
the road was to run, they were made
on the condition, expressed on their
face, as we learn, that a completed
road be placed as an equivalent in
possession ofthe public for public uses.
A few shovelfuls of earth have been
heaped up, and, after harm being done
to the plantations on the line of the
road, the whole thing abandoned
and for series of years left to
wash away. The company never
was able to execute its contract to
build a road In the first instance. and
now the first mortgage bonds, like the
stock III the road, are worth about as
much as so much waste paper. One
OF our leading citizens informs us
that no deeds defining the right of
way, and fixing boundaries to the
track of the contemplated road. have
ever been given or can be shown by
the records. Lawyers will better
Judge the whole situation than we are
able to do without an investigation
we are unable to give to the subject
But we would not give o%ne-fourth of
one per cent for all the first mortgage
bonds which have been issued. with
all the title which they and the courts
can give thrown into the bargain. If
any, attempt is made to sell the
road, we think an Injunction
will be obtained by the land owners
to prevent it. And we think these
.lltlgatlng and pretended creditors had
better stand from under. They NAV
act the dog in the manger and neither
build the road nor allow others TO
build 1t for a while longer, but their
recompense after all will be but the
pleasure Of paying dear for their whis-
tie IN costs and fees to lawyers and
officers of the courts. They will take
nothing. by their motion, and they
will find it for their interest to get out
OF the way, even if they care less for
the good Of the public at large than
good men should do. We hope they
Will stand aside or come very soon to
some compromise which in the anxiety
to secure the road the liberality Of
those interested may choose to grant
them. But, if they will not stand
aside, let the owners of the soil 20
forward and complete the work in
spite cfthem without apprehension or