Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-01-11
RAILROAD MATTERS
Consuming Considerable OF the AtteH-
tiOn OF the County Court at the
Session Yesterday.
A Compromise Decree Passed in the
Case OF Extein Norton vs.. Shelby
County.

| S. Hammondtree stated in a petition tina
] smallpox was prevalent in a member 0
| Northern and Southern cities, and asked tina
| the school children be vaccinated.
/ Messrs. HolemaD, Murray and Bledso'
/ were appointed a committee TO examine int
the expediency OF carrying out the views o
! Drs. Thornton and Hammondtree.
! It was ordered by the court that the road
/ tax for 1882 shall be ten cents on the 500 o.
| taxable property in the county, and that one
half Of said tax be collected in money.
COMPROMISE DECREE.
The following compromise decree was
passed:
WHEREAS, 1t appears to the court that
Extein Norton has brought suit against
Shelby county in the Circuit Court of the
United States for the Western District OF
Tennessee, at Memphis, On about eighty-two
bonds issued by the county commissioners of
Shelby county to the Mississippi River rail
road, claiming that the county is liable on
the bonds, which this court, as the represen-
tative of Shelby county, denies; and whereas,
proposition of com promise has been made
to this court by said E8tein Norton, through
his attorneys CAN'T and Patterson, to COM
promise said suits and claims, and said prop
osition OF compromise has been referred to a
committee of prominent citizens OF said
county, and the majority of this committee
favoring the acceptance of the terms of the
compromise;
The following are the committee reports
To the Honorable County Court of Shelby county
We, your committee to whom referred the
ION on bonds issued by the county Commissioners
have considered the matter thoroughly, and in
view of the doubtful nature of the defense, would
recommend the acceptance of the following prop
osition, which has been offered as a compromise:
First -That so, 900 be deducted from the bonds
and interest; that the cash now in the hands OF
the county court clerk, collected on assessments
TO pay said bonds, be applied to the further reduc
ton of the amount claimed
Second That for the balance the county issue
her bonds with coupons attached, at six per cent,
said bonds maturing in ten annual installments.
That the bonds so issued be by the chairman paid
TO the holders of the old bonds, upon their deliv
cry of same to him, or that he dispose OF them
upon the market If he can obtain 8 owe par value
to the payment and redemption OF said bonds
Respectfully submitted. K ID, GOODWIN,
JNo. T. FAR REASON,
TOM HOLEMAN JR
JULIUS A. TAYLOR
a. d. HUNTER.
MEMPHIS, TENN, January :, 1882.
MINORITY REPORT NO. l.
To the Honorable County Court OF Shelby county
In view OF the fact that the bonds of the Mem
phis and Ohio Iailroad against the county amount
ing to about 100000, fall due in 1884, 1855 and
1856, think 1t would not be good policy to issue
other bonds to become due at the same time. The
would be greater Than the people OF he county
could well bear. would therefore recommend
that bonds instead OF being issued in ten equal
annual installments as recommended by majority
of your committee, be issued in five equal annual
installnents, due and payable in 1857, 1855, 1882
R. D. GOODWIN.
MINORITY REPORT NO. ..
To the Honorable County Court
The undersigned dissent from the majority re-
port upon certain propositions of the Chesapeake
and Ohio railroad. believing that the judo ial
determination Of the COUNTS LIABILITY to pay the
bonds should first be had. And hence we would
report that the proposition be rejected aud the
suit in court resister. b, & BLEDSOE,
A minority of the committee have made
separate reports, differing from the majority
and from each other; and it appearing to
The court from a due consideration of all |
The reports, together with the facts in the |
case, that the defense of Shelby county to |
he said suits is doubtful and so considered |
1y said committee; and it further appearing |
hat said committee have recommended
of said claim and suits;
Now, there fore, in consideration of the !
premises, and after full consideration and
discussion of the whole matter, this court,
lot admitting the validity of said bonds
ued on, or the liability OF Shelby county
hereoD, either legally or equitably, but
hereby expressly denying the same 10 every
ense, nevertheless, in view of the recon-
nendations of said committee, in whose
pinion the defense of Shelby county
5 doubtful, do hereby order, adiudge
nd decree that the county accepts the offer
f compromise, or will accept the same
Ihen agreed to by the said Elk
horton as modified by their decree, to wit:
he county will admit her Indebtedness as
D the balance on said bonds and interest,
fter deducting from total of same the sum
t $4,000, and this sum SO ascertained shall
c the exact sum admitted to be due said
'orton, and no more. Upon said agree
rent by said Elk Norton, the chairman will
roceed with all convenient haste to ascer-
lin the whole amount, both principal and
lterest, and after deductiug the $50 900 as
foresaid, shall cause to be paid over to the |
lid Elk Norton, or his solicitors of record
lie sum now in the hands of the county court
ERIK, collected on account of said bonds, and
Ike up sufficient amount of said bonds to
,ver the same at their estimated value ac
,rding TO this decree. When said payment
made, he shall deduct the same from the {
llance OF said claim, after first deducling /
e So 900, and ascertain the net balance OF !
id claim. When the net balance is so as !
rtained, it shall be the duty of the chair )
an and clerk of this court to issue the /
,nds of Shelby county, pay able in ten years
I'd redeemable at the pleasure of the
unity after January l, 1887,
'oyOOU or SoU,OOU OF salu DOnuS snail De In
e sum of $500 each, and the balance of
id bonds shall be in the sum of $1,000 each,
ID no bond shall be for fractional part of
90 or $1,000. Said bonds shall have cou-
ms attached, and shall bear interest at the e
tie of six per cent. per annum, payable =
mi annually. When the bonds are Issued
shall be the duty of the chairman and \
ancial agent to endeavor to sell the whole \
any part of said bonds at the best price 3
tainab.e above par value; and if he C IA J
/ them above par shall do so and apply a
} proceeds to the liquidation of the balance p
said Indebtedness left unpaid, or so much Il
the funds in his hands will discharge, J
ring receipts therefor. Should he, how n
IT, be unable to sell the same above par "
thin sixty days after the bonds are issued J
hich time he shall have to negotiate them) !
shall, at the earliest practicable moment K
y over and deliver said bonds at par to the A
d Norton, and shall also take up tie bonds c
" held and sued or by said Norton. ]
ION the receipt of any of the bonds herein H
,vided to be compromised, the chairman N
Ill Immediately write across the face of A
Ia bond so received the word "canceled," "
shall report all such bonds to the next II
ceediDg term OF the Quarterly Court. D.
t it is distinctly understood that this is
Y a compromise, and is not, and is not in
dsd to be, binding on the county, unless z
said Norton shall agree to the same in
|, and carry out its terms in good faith; q
the acceptance of any money or bonds, ]
provided for, or under the decree, shall J
ever estop him from denying the validity
binding force 10 him, and the accept E
e of the same by him. I
By his attorneys, CAN'T and Patterson, Elk q
rton accepts the terms OF the foregoing d.
rec. NJ
he court adjourned. "
W