The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1842-12-01

II
pop-laie de proceeds q SAessles sflhe
pablie lands. and % grant IRE emPiian
nights. psylDeHl bersme due q North
Carolina II The Public Treasury. on The
Isl Jniy last. On ne 3ilh June rreced-
ing. = eormrnieali0i' from The Treasury
department was addressed 10 Ibis depart
mrnt requesting thar IN agent should be
d-signsied 70 receive The payment. i
forthwith appointed Charles /. Hinton.
ESQ. Public Treasurer, The agent 81 ihis
state. 10 receive the payment; whs pro-
ceeded % Washington for the purpose,
bnl The amount mas nntihen paid. for the
reason. a. II was alledged. that the net
smoanl Cor distribution had not then been
asceriained. On the 9Th November. The
acting Secretary Of the United STATES, in
formed me that the accounts had been
adjusted and the sum Of e22.9I1 81 was
found due Ibis STATE, OF which the 'frea-
surer was informed. and he forthwith re-
quesied the department a. Washington
10 fnrward him draft forward for the .
mount This draft is daily expected. Il
becomes your duty to apply this fund 70
such purpose As your wisdom may sug-
grsi.
The Raleigh and Gasinn Railroad
Company availed themselves Of The act
Of the last session, entitled. An act 70
secure the State against any and every
liability. incurred Tor The Raleigh and
CASTOR Railroad Company. and for The
relied Of The same. by accepting The
benefit Of ihe act. and giving Tic execu-
tive notice Of the acceptance within the
time therein prescribed. The deed Of
mortgage and deed ofpledge, required by
said act. have been daily executed and
registered. and bonds to the amounl oi
$500. 900, conditioned as required, have
been executed and delivered 10 the Tres
surcr, signed BY obligors whom believed
Al the time, 70 be able 10 pay and satisfy
said bonds. The, Treasurer endorsed
$500. 900 Of the bonds Of said company,
as directed BY said act 10 do. and delivered
them 10 the company; and having hereio-
fore, under former act, endorsed $500.
600, the state stands responsible for the
company, nov, 10 the amount Of ESQ,
| 600. As yet. / am not aware that the
Treasurer has been required TO pay any
iking for any responsibility, incurred by
the state for this corporation.
Az The same session, en- act, somewhat
similar, entitled An act for The relief Of
ths Wilmington and Raleigh Railroad
Conpany," was passed. That company
sysiled itself OF The benefit Of the act by
fully complying with It's requirements, in
giving the security. and their bonds 10
/! the amount Of $500, eco, have been en-
dorsed by the Treasurer, as by said aci
he was directed To do. ] am not aware
that any demand has been made upon the
Treasury, for any liability incurred for
this company; and am informed lhatihe
company hSs discharged ESQ. 900 Of said
bonds, as required by The act. Besides The
interest which the state should feel, from
pride and utility, in the success Of these
two noble enterprises. there is an addi-
tional interest, which invites your serious
attention. For the FIRST OF these roads, we
have seen that the state is bound as secu-
rity now for $500. O00--for the latter. she
is bouud as security now for s250,000,
besides being siockholder in the same
to the amount Of 100000. The first
and most important consideration then, is
How the roads can be enabled to NEE.
their liabilities, and thereby secure the
state. The embarrassment Of the coun
try has been, for some time past, and is
likely 10 be foi some time 10 come, so ex-
lraorjinary, that travel, the most profi,a-
bic source OF revenue to railroads. has de-
creased exceedingly, and the productions
Of industry are so low, and the profits Of
merchandise so reduced, that the income
from heavy transportation has greatly d.
minished. No doubt is entertained bu,
that both roads would speedily extrica,e
themselves from debt. and make their
stock profitable, could they have full en-
ploymcn:. Any act Of legislation, that ran
aid them, in procuring additional employ
neni. wiihou, mourning additional respon.
sibilit- on the part of the state. viii GER
tainlv be wise and prudent.
It's more than probable that applica-
ton will be- made to charter company
| to construct railroad from some point
on the Raleigh and CASTOR Rail road, to
Weldon, the point where the Portsmouth
and Roanoke. and Wilmington and Ra-
leigh Railroads meet; thus connecting,
by continuous railroad, our seat OF
government with our own excellent port
Of Wilmington, On the one hand, and
with one Of the best seaports in the world,
on the other. No valid objection 10 grant
ing this charter is perceived, while there
is much 10 sustain its proprieiy. The
distance is short, some fifteen miles. the
ground is favorable, and The usual expense
of depots and cars can be d spensed with.
by the use of those Belonging to the roads
so greatly interested in this connection.
Besides the advantage of transferring hea-
Wy articles and such as are inconvenient to
handle directly from the vessels ofcars, that
will deliycr,hcmin Raleigh, and riceuersa,
it will cheaper and quicken transporta-
ton, by competition, shorten the roate by