| Annual Report of the Louisville &
Nashville RR |
| as of July 1, 1861 |
| President's Report |
| |
| President and Director's Supplement Report |
| |
| No. 2 |
|
|
| On the 18th September, 1861,
the Memphis Branch and the Main Stem from the Tennessee State line
north to the junction of the Lebanon Branch, was seized by order of
General S. B. Buckner, of the so-called Confederate States, together
with the motive power and rolling stock, wood, material, &c;.,
upon the same. The railroad bridge over Rolling Fork of Salt River was
burnt, and since that time the railroad bridges over Nolin River and
Bacon Creek have been burnt by said forces. There is reason to
apprehend that said forces will destroy other railroad bridges, and
otherwise break up and obstruct the road and its business. There
remains but 22 locomotives, 44 box and caboose cars, 30 flat cars, 11
passenger, 5 baggage, and 9 crib cars. The rolling stock left is
totally inadequate to any profitable business, should the casualties
of war permit the reconstruction of the burnt bridges and operation of
the road to any point or points beyond the Rolling Fork. |
| The report of A. Fink,
Superintendent of machinery and Road Department, published herewith,
states the number and value of the locomotives and rolling stock,
material, &c., seized, and the damage to bridges, at $267,619.89.
Add the loss stated in Supplement No. 1 -- $110,277.14 -- makes the
loss in motive power, rolling stock, wood, &c. $377,897.03.
Besides, the profitable business of the road is entirely destroyed. A
fair estimate of the net earnings of the road, but for these
misfortunes and obstruction to the business of the Company by the war,
may be set down at not less than $600,000 per annum, with the road,
motive power and rolling stock in a constantly improving condition.
Now, the Company will not only lose a fair annual income from the
investment, but an additional loss in the deterioration of all the
items of the investment nearly if not quite equal to the annual loss
of net income as before stated. |
| General Buckner published in
hand-bills, and in the newspapers at Bowling Green, on the 18th of
September, a letter addressed to James Guthrie, President of the
Company, as follows: |
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|
| Head Quarters Central Division of Kentucky |
| Bowling Green, Ky., September 18, 1861 |
| |
| Hon. James Guthrie |
| President L. & N. R. R. Co. |
| |
| Sir, |
| It is my purpose to reopen
the traffic, recently suspended by direction of the President of the
United States, on such portions of the Louisville Nashville
Railway as may be under the control of the forces under my command;
and also to re-establish the running of the regular passenger rains.
The counties through which this railway passes are largely interested
in its stock, and are charged with heavy burdens to pay the interest
on the debts which they have contracted in the construction of the
road. The cessation of this traffic, under the orders of the
President, was an act of injustice to the people, who were already
sufficiently taxed; for it deprived the citizens of these counties of
the very means relied upon to pay the largely increased taxation
demanded by the policy of the Government. As far as rests in my power,
I propose to secure to the people of these counties their just rights
in this respect, by permitting the traffic on the road to continue as
it existed before the illegal interference of the President. With this
view, I have possessed myself of a considerable portion of the rolling
stock of the road, and now propose to you that, as President of the
Company, you continue the management of the portion of the road within
the limits of the influence of the forces under my command, and
conduct it as before the existence of the war, in the interest of the
people who are interested in its stock. I propose that you will
continue your agents and employees, with the single restriction that
they shall be men who are not inimical to the interests of the people
of these counties, and that the stockholders shall enjoy all the
benefits to which their Railroad Charter entitles them. In order to
secure the rights of the stockholders, I have directed an account to
be kept of the earnings and expenses of the road, including the amount
to which the Company will be entitled for transporting the troops
under my orders. This account will be rendered to you and the balance
paid over, on the single condition that it shall be applied to the
purposes contemplated by the Charter. If this proposition should be
declined, I propose transferring the rolling stock to such agents as
may be appointed by the counties through which the road passes. This
will ensure an equitable distribution of the property of the road in
the interest of the stockholders. |
| I am, very respectfully, |
| Your obedient servant, |
| S. B. Buckner |
| Brigadier Gen'l C. S. A. |
| |
| Which was received on the
evening of the 22d of September; also a letter, from R. H. Caldwell,
dated 20th September, of Russellville, a depot agent of the Company,
endorsed approved by General Buckner, was received on the 23d inst.,
and is also herewith published: |
| |
| L. & N. R. R., Mechanical Department |
| Bowling Green, Ky., Sept. 20, 1861 |
| |
| Hon. James Guthrie |
| President |
| |
| Dear Sir, |
| I came here this A. M., at
the suggestion of stockholders and friends of our road, to look into
the affairs of the Company. I find the road under the control,
temporarily, of Superintendent Fleece, of the Memphis, Clarksville
& Louisville Railroad, appointed to its control by General
Buckner. I have conferred with General Buckner, R. W. Humphries,
President, and other leading persons -- friends of the road -- its
employees, &c., and find a unanimous with that I should be
authorized by you to take charge of the road from Tennessee State line
as far north as occupied and under control of Confederate States
troops, and manage and control it for account of the Company. If your
Board will authorize it, formally empower, and notify me, I will give
it my best efforts to preserve its property and interests. Answer me
promptly at this place, care General Buckner. |
| Truly yours, |
| Rand. H. Caldwell |
| |
| These letters were laid
before the Board of Directors, and both propositions declined; and
they were, by order of the Board, referred to the stockholders. In
consequence of the seizure of the stock of the Company, and the
burning of the bridges, it was impossible to have operated the road
from Louisville south. It would have been giving aid and comfort to
the enemy to have accepted the propositions contained in either
letter, and also a violation of the Charter. The stockholders may put
their own construction upon the letters and propositions. It was not,
and could not have been expected either would have been acceded to by
the Board, and no stockholder who will give his judgment fair play can
arrive at any other conclusion than that the propositions were made to
deceive the public. Buckner and his troops have destroyed the road and
its business, and intended just what they have done. |
| James Guthrie |
| President |
| |
| Office Sup't. Machinery & Road Dep't.
L. & N. R. R. |
| Louisville, Ky., October 4, 1861 |
| |
| Hon. James Guthrie |
| President L. & N. R. R. Co. |
| |
| Sir, |
| The following is a statement
of the value of the movable property of the Company seized on the 17th
of September, 1861, by the military forces of Tennessee: |
| Eleven Locomotives |
$106,510.00 |
| Eight Passenger and three Baggage Cars |
22,000.00 |
| Ninety-four Box Cars, nine Rack, fifty-four
Flats, and two Boarding Cars |
80,958.00 |
| Material at Bowling Green shops |
1,264.88 |
| Shop Tools at Bowling Green |
6,000.00 |
| Road Tools and Material between E. Town and
State line on Main Stem |
6,945.45 |
| Road Tools and Material on Memphis Breach |
3,199.56 |
| Wood between E. Town and Bowling Green, 7064
cords, at $1.75 |
12,362.00 |
| Wood on Memphis Branch, 2,240 cords, at $2.00 |
4,480.00 |
| Stone delivered on road, 11,000 yards, at 30c |
3,300.00 |
| Total |
$247,019.89 |
|
| The following is an
estimate of the expenditures required to restore the bridges,
which have been destroyed since September 18, to their former
condition: |
|
| Rolling Fork Bridge |
$18,000.00 |
|
| Nolin Bridge |
1,500.00 |
|
| Tressels on Section 57 |
500.00 |
|
| Bacon Creek Bridge |
600.00 |
$20,600.00 |
| Total |
|
$267,619.89 |
|
| Albert Fink |
|