Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1886-07-24
in BOND. waIch lhe lru.Lee delivered .

him.
He does not charge himself in said
in said statement with the amount due
from him to said company upon his
subscription to said capital stock, the
amount OF which has been stated above;
nor does he pretend that either he or
his brother, w. S. Gordon, have ever
paid one cent upon their subscriptions
TO said capital stock, though they have
at all times used SAID subscriptions to
control the affairs Of said company.
Compliments aie informed, and so
charge, that the track of said road for
the thirty miles completed in narrow
gauge, and for several miles immedl-
ately north o! Clarksville passes over
high and crooked trestles, upon steep
grades and sharp curves; its locomo-
tives, cars and rolling stock are made
quate for the business which the road
could do if property developed, and the
condition OF the road is such as to rem
der it, in the opinion OF many persons,
unsafe for public travel.
The said E. G. Gordon in his report
above referred to, gsves no account OF
the earnings OF the road nor its operat-
ing expenses, but compliments sup
pose, however, that he will claim he
has operated the road ut loss.
The second proposition OF Major
Gordon is set forth and the proceed
ings in regard to the protesting and
payment OF interest stated. Then the
charter Of the West Kentucky railroad
and the last proposition OF Major Cor
don are brought up. is shown that
the incorporators OF tn w. X. & T.
r. r. are all identified with the |. A. &
r. r. The bill says:
Compliments have not been able to
ascertlln how much stock has been sub
scrib ID in said West Kentucky & Ten
nessee Railway Company, nor who the
sub 'cribers thereto are; but complain
ants have no doubt, and so charge the
mct to be, that the said T. G. Gordon
and w. S. Goreon have subscribed for
"A majority of whatever stock has been
subscaibed in said com pany.
1t is then insisted that the /. A. & 7.
Company have no right to abandon the
building OF their road to another corpor-
alton.
Complainants are advised and insist
that the subscriptions to the capital
stock OF the said consolidated Indiana,
Alabama & Texas Rrilroad Company
made by &c. Gordon, w. S. Gordon
and others, whose names. have been stat
ed above, together with the amount by
them respectively subscribed, and also
the balance due from said citizens of
GAINESVILLE and the other subscribers to
the said 500, 900 of bonds, constitute a
trust fund for the purpose OF construct
the road completed by the charter of
the said consolidated Indiana, Alabama
& Texas Railroad Company. and especi
ally for the construction Of the Clarks-
vile division of said road upon which
compliments bonds are secured by
mortgage, as stated above.
Compliments are advised and insist
that the said consolidated Indiana, Ala
bama & Texas Railroad Company have
no right to abandon the construction OF
that part OF their road covered by said
mortgage, so long as said stock subscrip-
tons and the subscriptions OF the cltl-
zens OF GAINESVILLE and others to said
$4,000 bonds remain unpaid and un-
collected and that any attempt upon the
said consolidated Indiana. Alabama d
Texas Railroad Company'to release said
citizens from the balance due upon
their subscriptions or to release the in
dividual subscribers to the capital stock
of the said consolidated Indiana, Ala
bama & Texas, Railroad Company, is a
fraud upon the rights OF compliments,
and of all other owners or holders OF
any of the $3.50, 900 of bonds secured by
said divisional mortgage which were
delivered to the president of said COM
pany by the trustees to be negotiated
and sold by him to raise money to con-
struct said division, as expland above.
Plaintiffs have been informed that
the said E. G. Gordon in advocating the
acceptance of said proposition by the
citizens of Clarksville, has called atten-
ton to the fact that il the said consoli-
dated Indiana, Alybama & Texas Rail-
road Company adandons its road be-
tween Cerulean Springs, or Newstead,
and Princeton, and allows said West
Kentucky & Tennessee Railway Com
pany to construct railroad between
those points, said last named company
can put in mortgage of its own upon
that part of the road which will be free
from the lien of the mortgage under
which complainants' bonds are secured.
In other words, the said E. G. Gerdo,.
and w. S. Gordon, who are indebted
on their subscriptions to the CONSOLE
dated Indiana, Alabama & Texas Rail
road Company to an amount far beyond
what would be necessary to complete
the road of that company to Princeton,
and beyond there to the northern ter
minus of the GAINESVILLE division, but,
instead OF paying to that company the
the amount due from them, they are
attempting to use their powers as such
majority stockholders of said company
to force that company t. abandon the
construction of its own road, and sur
render its line from Cerulean Springs
J to the northern terminus of said divis-
ion over to another company, the in
corporation of which they have procur.
ed in Kentucky, and the management
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