The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1839-01-10

Roanoke Navigation Company. subseri
bed for, al 100 dollars per share. and pro-
baby worth half the sun; $50 shares IN
The Cape Fear Navigation camany. $500
subscribed lnr ~ 50. and 100 - 100 dol
lars per share. subject 10 Ike deprrci-
altun: The DIVIDENDS on 6O0O shares Of
stork IN The Wilmington and Raleigh Rail
Road Company, subscribed Ear a. 100
dollars per share: and LIS shares in the
]. clab-loni and Harlow Creek Canal Com
Pany, subscribed Al 100 dollars per share,
the latter al M marketable rulne.
/. 2d. SOURCES OF REyESuE-The lax
Imposed by law upon the retailers Of
spiriinous llqu0rs-lne tax on anrlioneers
all moneys paid iHlo The Treasury ON
.n'Tits Of Vacant lands lexeepl Cherokee
lands land all pr..iIs aerruing To The
state, fT subscriptions 10 works Of In
ieTnal mproFemenI-ahd from lnans
made from 1he lalernaI Improvement
fund.
] The Transcripts in The appendix taken
from the report Of the Public Treasurer.
exhibits The whnle fiscal Transactions Of
the Board since April. 1887. aud is given
al lrnglh, Ia enable those disposed 10 en-
ter into the investigation, to satisfy them
selSes Of the degree Of reliance which may
he placed upon the following estimates:
Estimates founded upon The foregoing
/ statements.
| The Bank stock belonging to the fund.
is 81 greater value than she subscription
price. and this excess &c value will be
more than equivalent 10 the depreciation
Of the navigation stocks. There can be
no risk. therefore. in estimating The bank
stock and the Roanoke and Cape Fear
Navigation stuck al par-and The Club
iooI and Harlow Geek Canal stock as
destitute of value. The value Of The
" iIminsion and Raleigh Rail Road stock
can only be determined BY tine and ex.
per,enee. Al presen. favorable expec,a.
IONS are entertained.
/ RECONCILIATION.
10, snT shares nf Baak stock. 81, 02O zoe
$50 d. Roinake Navigation. so O0l
659 d. Cape Pear do 81 5Ot
Cash IN the Treasury, 3lst Oct. 1888. 27.25.
II ni.i7o.4s!
6 ono shares nr stock in Wilmington
aud Raleigh Rail Road Company, 6OO,oO
sI.7s2.4s!
ESTIMATED ANNUAL INCOME.
The Bank and Nav,s.,ion stock. as
sbass,wili probably yield yearly
: profit Of en- per cent on si.l00.
900, &C 90
wiImington and Raleigh Rail Road
stock, 6 per ceu'. on $500. 900, Sc 90
Tar on re.siiers of spIf',u"us hqaors. 2,so
i. Tax On aurtinaeeEs, i.2O
. Moneys paid for enitics Of vaeaai lands, 90
p sIII.00
E One Of the principal sources Of revenu
1 during the last Two years, viz: interes
, arising from loans made by the fund 70
. Internal Improvements. 10 omitted in tn
!. estimate, because The principal none,
e NAV be appropriated TO sumo public worI
!. during the present session. and this ma
j. or may not be source Of revenue
e according 10 the character OF the enter
i. prize. The swamp lands are omitted
Il because no calculation can be made wi,
!. respect 10 them on which the Board CO
!. RELY themselves. much less command tli
n assent of others.
II TO devise system, thea. which sha
o secure instruction in reading. writing. an
- arithmetic. for 1000 childIen. disper:
= ed through The state in tie ratio Of lhre
10 every square mile. with the resource
n stated. would seen To he The precise du,
e required Of the Board, BY the last Genett
d Assembly.
o Massachusetts is entitled not merely ,
J. the high distinction Of having given birl
|, to the common school system in Americ;
y bu, To the peculiar glory Of having precet
|. ed all other people in the efforts no.
II making for the intellectual receneraiio
n of the world. The cradle Of liberty W.
none other than the cradle Of intelligenc,
Is and the spiri. Of our free insliin,inns ca
j. continue Ia exist in none other than III
brilliant atmosphere which gave i, bril-
e The population Of Massachusetts in ls3
>; was 6l0.0lI. or 81 TO each square mil
lie of her territory; in 1870 il will be abn'
.e 10000, and about % 10 the square mil
q The number OF chIldren between the az,
Ie Of four and sixteen is returned a, III. 05'
Al and the amount expended Cor instruciiC
Is is estimated al Ss4l 600. &c which su
10 S465,000 is raised by direct taxation
il The latter sum is divided annually amor
IN more than three thousand teachers. III
assessed value Of the property of Il
Al people Of that state in 1890 was $50
a 500. 407. and u probably much great
rs now. The reputation of her citizens &
rs intelligence and enterprise. is co.extensi
n with civilization. Il is a matter Of ju
pride with her statesmen, that commt
Ne school system, cherished to the ex,e
\ III