Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-03-20
THE IEGIsLATURE.

THE MINERAL HOME BONDS DISCUSSED IN THE
SENATE THE EAILRoAD BILL
Special to the Appeal
NASHVILLE, March 49, Senate. - New
bills and resolutions.
By Mr.. Champion: S.ua.e joint resolution
directing the attorney general Of the State 10
bring suit against the East Tennessee, V.r-
giniS and Georgia and the Knoxville and
Kentucky railroads for Mineral Hons bonds
paid TO the State in violation Of law. Lies
over,
The Senate joint resolution of Mr.. Black.
more, eonferriUg power on the government
TO allow the erection of Confederate monu.
ment on the capitol grounds, was adopted.
SENATE BILLS ON THIRD READING.
To add the counties OF Meigs, Rhea aud
Cumberland 10 tho Third Congressional Dis
trict. Owing to sn error these counties we're
left out in the last spportionment. Passed.
MINERAL HOME BONDS.
To restore certain bonds in the treasury
belonging TO parties TO whom Mineral Home
railroad bonds were issued.
Mr.. Dodd said in regard to these bonds
that ne desired 10 make brief statement.
He then read the message of the governor in
relation thereto, The State under an set
was ordered to issue 100000 bonds to the
Mineral Home Railroad Company. The
bonds were sold by the company in open
violation OF law, and the State refused to
pay them. The governor WAS not aware at
the time OF the writioR OF his'meessge Of the
fact that $4,000 of these bonds had been
paid into the treasury. There never was
any such company as the Mineral Home
Railroad Company. The bonds we're sold and
abe proceeds were lept sitsd in the bank at
Knoxville. The Eist Tennessee, Virginia
and Georgia railroad fraudulenlly paid in
900 IN The treasury, ard is liable to the
State OF Tennessee; and the encouragement
has been directed TO bring suit aud compel
this road and ons other, who paid in $1,000
oil these bonds, TO pay in that amount
Of money to the State. The parties
holding these bonds come in now and ask
that their pro ra,a Of the amouutth paid
in be paid them. OF course the State will
retain its pro rata part and sue the railroads
for the amount issued. These parties do n lot
ask sny interest, giving the State about
thirteen years OF interest.
Mr.. Williamson objected.
E4a1Mr. Dodd said in order 10 meet all
objections he would draw up an amend-
ment providing that in ihs event the State
was successful iu collecting the amsuat of
these bends from The railroads, then the
holders OF the bonds paid in shall be paid
their pro rdta.
Mr.. Champion said the fraud was perpe-
trated by the railroad and net by the limo.
ceut purchaser of the bonds. The State was
net gamer by the transaction, and he could
not see why senators should oppose the bill
He wss opposed to paying out money un.
neces'arily, but in this case the State was
holding money which did not belong TO her
Mr.. Sherrod said that it seemed that som,
senators we're under the impression that tn,
State would lose S37, 900 on these bonds
The State proposed TO pay $4,000 Of the cut
standing bonds at 6fty cents, and it was Ger
tain the State bad $4,000 belonging Il
others, which ought to be paid.
The bill was rejected for the want of
constitutional msjority.
TO REGULATE THE SALE OF COTTON.
To regulate the sale of lint and seed -cottol
between sunset and sunrise, providiog tina
the purchaser shsll keep book in which b
shall keep record Of the name and plac
of residence OF the party from whom the pur
chase was made. Passed.
The Senate thea adjourned until o'clocl