| From the Nashville Union and American |
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| February 16, 1861 |
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| The City Subscription of the Nashville &
Northwestern Railroad |
| Mr. J. R. Craighead offered a
resolution at the meeting of the Common Council Thursday evening, which
was adopted, providing for the appointment of a joint select committee
to confer with the Directors of the Nashville & Northwestern Railroad
Company as to the possibility of deferring for twelve month the payment
of the third and last dividend of the subscription tax of the city of
Nashville to the stock of said road. The action of the Common Council in
adopting this resolution, will, we have no doubt, be concurred in by the
Board of Aldermen. |
| The amount of stock subscribed
by the city to the stock of the Nashville & Northwestern Railroad
Company was $270,000, of which $180,000 has been paid, leaving $90,000
to be raised the present year. The amount will be exceedingly burdensome
to the tax payers of the city in the deranged state of monetary and
Commercial affairs that now exists. If the Nashville & Northwestern
Railroad Company is in such condition that this year's payment can be
deferred, it will be a great relief to our citizens. The Company have
been pushing forward the work on their road with great energy and it may
be that their contracts with parties for grading and masonry are of such
a nature that they cannot extend the time for the payment of the last
instalment of the city's subscription. If they can do so without serious
detriment to their own interest, we think they will willingly do so;
indeed, we feel quite sure they would be willing to make some sacrifice
to extend relief to our citizens. |
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