Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1883-03-24

Rail e BAD crossing in Dickson county, Ten
nessee, and point one hundred miles from
SAID \. w. r. r.. and between the CLes-
peak Ohio Railroad and the Ohio River in
the Sta te of Kentucky as set out in the prop
oSltion annexed. But it is agreed that not
more than ten thousand dollars of said
bonds shall be issued for each mile of said
road to be built North of Clarksvilie, and no
other bonds shall be issued and sold under
said mortgage until the work shall have be-
gun on the Part of the road south of Clarks-
vile, the said Company obligating itself to
use the money arising from the sale to the
building of said road.
So soon as the amount of bonds subscribed
hereunder shall reach the sum of two hum
dred thousand dollars, or such less sum as
may be, accepted by the /. A. q T. h. r. Co..
as sutnc1ent compliance with the terms of
this proposition, this subscription shall be-
come binding and said road North of Clarks-
vile shall be surveyed and located at least
as far as the G. d o. r. R., and the mortgage
provided for shall be executed, and the
bonds SO agreed to be taken shall be placed
in the hands of the trustee selected by the
subscribers, who shall hold same, and de-
liver TO subscribers when fully paid for.
Bat a right of action is hereby given to said
trustee TO sue for and recover from any sub
scrloer In default OF any call made by said
trustee of this subscription.
The first interest Coupons upon the bonds
here subscribed for shall mature LIST July.
1888, and not sooner.
That addition is made for our
protection. propose to protect
myself, and you all feel the same
way. We might raise nearly the
amount, say as much as $4,000
and fail to get the balance. We
have in our committee some very
good legal iuinds who thought this
was necessary to protect subscribers
We postpone the payment of inter
est for like reason. We must not
cripple the road before it begins to
make something. Bond-holders all
know it won't do to cripple an infant
enterprise and / know there are,
bondholders before me. Don't deny
it 1 know you are bond-holders.
Judge Smith Yes sir that's so,
Qaughter).
Mr.. Kennedy: I didn't say you
were boud- holder.
We would be glad to make full
report of Mr.. Kennedy's speech as
he spoke for the committee and
what he said was very much to the
point, but owing to want of space
we are obliged to cut off what re-
mains in short synopsis. He
spoke of the ability of the citizens
to raise the money and impressed
the fact that it was no gift but an
investment. He was the connect
ing link between the past, present,
future. Been here long time and
was supposed to know something
about GAINESVILLE. The town is
much better off now than it used to
be. There are single houses here
to-day that sell more than the whole |
town did when the l.. & n. was
built. There are four banks here |
now with an aggregate deposit of |
$500, 200. That shows there is |
money in the community. There
is no comparison of the ability of |
the people to build a railroad now
and then. He showed that stock
in the road might not be entirely
worthless. Sometimes parties in
to get control of roads made
stock advance so that it sold at
good figures. The committee
would soon be at work soliciting
md everybody should subscribe
literally.