NP, MAP 10/11/1861

From the Memphis Appeal
October 11, 1861
Governor's Message
Executive Department
Nashville, Oct. 7, 1861
Gentlemen of the Senate and House of Representatives:
   By the act of the 7th of May, 1861, it is left to the discretion of the Governor to appoint receivers to take possession of the roads, property and offices of railroad companies failing to pay the semi-annual interest upon the bonds of the State, loaned to aid in the construction of the roads.
   The Controller has reported the following railroad companies as having failed to pay the interest falling due July 1st, 1861, to wit:
Mobile & Ohio Railroad Company $33,720.00
Memphis & Little Rock 10,500.00
Nashville & Northwestern 43,650.00
Rogersville & Jefferson 4,770.00
Tennessee & Alabama 21,000.00
Memphis, Clarksville & Louisville 31,260.00
East Tennessee & Virginia 27,970.00
Nashville & Chattanooga 4,500.00
   Believing, as I do, that their failure to pay resulted from no want of inclination on their part, nor from bad or improper management on the part of their officers and employees, but from the fact of the general prostration of trade and commerce, almost their entire business for the last six months having been the transportation of troops and munitions of war, which they have done with the utmost promptitude and upon the most accommodating terms, I have felt that neither the security of the State nor the interest of the companies would be promoted by placing them in the hands of receivers, and I have therefore declined appointing such receivers.
   The Edgefield & Kentucky and the Winchester & Alabama railroad companies having failed to pay the interest due upon their bonds on the 1st of January, 1861, previous to the passage of the above act, I appointed Adam Anderson receiver, to take charge of the former, and James B. Lamb, receiver for the latter. These roads with the property and effects of the companies were placed in the hands of their respective receivers, and have been operated by them up to this time; the operations of neither having as yet refunded to the treasury the amount of interest paid on their account.
Isham G. Harris