The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1843-01-26
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.;aea. e ollieio 81 The Literary and In
,.rn.l Improvement boards. Inc rsmes
II IL several debtors oF Tie said Boards.
go.a lie period Of The hrsl loan Up % he
a,es,nt lime-lhe amount de from each
--.nd The security taken GoFlhe pasmens
n said loans. specifying particularly
vhea lie sewers debts that arc paid we're
,E.rharsrd,. aud the several amounts now
AZ. AMI the names. o. the dehloxs and
,heir seeuriiies. And. further, 10 esquire
in,o he sosvency of their obligors, IN The
haaI. oF HE borrowers and their seeuri- /
a.. mi whether any loss has ever been
sustainel 81 eIther Of said Boards. and
II whom. and when; and % report The
names IL lie borrowers % This house, and
n luIl on The subjects contemplated
hare discharged The duty. and askleaFe %
REPORT:
That. heretofore, they have obtained y
il, az The debtors 10 said Boards, from
his ExeeIlency. and submitted the same
Il lhe house, which has been prinieds
and. in pursuance X Tie duty imposed By
theolher branch Of lie resolution. they
have carefully examined and compared
,hs books, which have been regularly
kept b. lie Governor. and each and eve.
~ bond specifically. and find them % cor
respond with The statements heretofore
srnished by the Governor, and printed.
The testimony Of David w. Stone,
esq, taken before the committee. satls.
fes them that The sla'ement q, Ihereso-
fore submitted il correct list os notes
delivered 10 Governor Moreheai by his
predecessor; and upon has evihsncs. and
others. which was perfectly satisfactory,
tlc committee have no doubt that all the
bonds now duo. 10 both Boards, arc well
secured; anil although some Of the princi.
pals are doabllul, yet .lre securities place
The bonds bcyound exception; and that
nothing has bern lost. By either Of said
Boards, since their organization, in 1897.
The committee have also examined
the Treasurer's receipts, taken by The
Boards, and find them all correct; and,
since Gov. Moreheai's administration.
Ibeyond which they did mol 60 IN this par
ticuiar inluiry,l The moneys received by
die Boards hive been promptly PAID over
to the Treasurer, or deposited in Bank.
The committee have also examined
me Rail Road bonds, in which q portion
OF The Literary Fund has been inrssted;
they End that the Board, in 1910, invested
in the bon:ls Of The Wilmington and Ira
leigh Rail Road Company, under thelI
corporate seal, So, 900. due in 1915, ami
$4,000, due in 1880; for the security
of which, with some other debts, deet
in trust, in September 1910, was execu
ted by the company, conveying all 1'n
property then owned By the company
The committee are informed that Tn
other debts secured in said deed are pal,
of, and that the property conveyed is am
ply sufficient TO secure the bonds. Tn
interest thereon is paid up 10 the LIST Janu
ary, 1912. That, since 1910, $4,000 Ina
been invested in the bonds of said com
pany, endorsed by the stale, anil due !
1917. That sl40, 900 were invested
1870, in the bonds Of the Raleigh d. Ga'
Ton Rail Road Company, endorsed by III
State, and since 1910, $4,000 Of sal
bonls, due from 1915 TO 1852.
The committee ascertain TINT the Lit
rary Board was organized by Governt
Dudley, President cx oiiicio, on Eel
l6, 1897, by the appointment oil Eoen'
ger Pettigrew, David w. Stone, and a
fnl Jones. esqs.; that on the next ia
Mr.. Jones having declined, Charles Ma
ly, esq was appointed in his place. Th
on May 80, 1897, Mr.. Pc tigrew havlI
declined, VIM. A, Blount, esq, was a
pointed in his place. That on Feb. /
1899, and on Feb. 10, ls4i, Aessr
Bloan,, S!onc, and Manly, were re-a
pointed. That Mr.. Bloun, declined up
his re.appoiniment by Governor Moor
head, in lslI, and, in April, 1911, Go
ernor Dudley was appointed in his plaC
That MI. Stone resigned on june J
1911, and Weston X. Gales. esq. W
appointed in his place, and the boa
now consists of Governor Morehead a
Messrs. Dudley, Manly, and Gales; j,
In 1897 and 1888, the Internal i
provement Board consisted oil Govern
Dudley, Messrs. G. Jones, and VIM
Moseley. In 1880, Mr.. c. j. Mslset "
appointed in the place Of MIR. Mosel'
and so the Board continued Tor 1870
Feb. 1871. Governor Morehead appo!
ed Messrs. G, Jones and Go"eTnor u,
Icy. In April. 1911, Governor Dud'
resigned, and the vacancy rename"
that year; and. in 1912, the board
composed and now consists oil Gover
Morehead, Messrs. &, Jones, sr.
Jesse Harper. j.,
The committee, in CONCLUSION, u
pleasure in stating that the Governor
forded 10 the committee every faculty.
all necessary. and in his power LOT
satisfactory discharge Of the duty imp
ed on them. The committee ASK 10