The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1844-07-25
Col. Iroke and the ran Roads.

The Democratic Association Of Wake
county have appointed committee con-
sisting Of Louis D. Henry and FIVE or six
others, FOR the purpose Of white-washing
some Of the acts Of Col. Michael Hoke
while member Of the Legislature. This
committee has Rounahed good deal, and
managed to ill up large portion Of an
Extra Standard, which has been circulate
ed pretty extensively for The consolation
Of the party" but leaving the question
pretty much as they found il.
Ii will be recollecied that the Wings
have been charged with improyidenee in
endorsing bonds for the Raleigh and Gas
ton Rail Road, by the act Of 1910, for
100000. But the provisions Of the act
rendered the state perfectly secure, by 70
quiring the stockholders to give their in
dividual bonds, with security, for the pay
meni of the 100000 for which the state
had previously become security, and
fresh mortgage of the whole property Of
the company, which cost near a million
and half, to indemnify the STATE from loss
BY the new endorsement Of $500, 900.
There is no danger, therefore, of loss 10
the state.
As the Locos had been busy in circu-
lating this charge against the Wings, il
became subject of inquiry what the Lo-
cos themselves had done. In looking
back il will be found that VIM. II. Hay
wood, Judge Saunders, and others of the
Locos, are largely implicated in this mat
ter Of the Railroads, DC. and that the
whole of the states share of the surplus
revenue was appropriated by the Demo-
cratic Legislature oil 1867, under a plan
suggested BY Mr.. Haywood, in opposi-
lion to that proposed by Mr.. Graham; but
the present investigation more particular
" related 80 the action Of Col. Huke, the
Democratic candidate for Governor.
1t is charged and not denied, that Col.
Hoke voted 10 subscribe 100000 to the
Wilmington and Raleigh Rail Road. This
money was paid. by the state, and as she
has received no dividend, she has lost the
interest for 81 years, or Sl9s,000. This
subscription of 100000 to. the Whining
ton road was made in conformity to MIR.
Haywood's plan of disposing of the sur
plus revenue; and as it has as yet been
entirely unproductive, the state In conse-
quence is subject to the loss Of $4,000
every year in interest.
1t is charged and not denied, that Col.
Hoke voted to endorse for the Raleigh e.
CASTOR Rail Road in 1883, their bonds
for 100000; upon which the state has
already been required to pay interest
100000. @#< ~.
1t is charged and not denied, that Col.
Ho!le voted to endorse for the Whining
ton and Raleigh Railroad bonds for $500,
600, upon mortgage.only, without the per-
sonal security of the stockholders. IL
In 1896 Col. Hoke voted that the state
should take two-fllhs of the stock in two
! contemplated rail roads, the Fayetteville
and Western, and the North Carolina Gen.
trail; and at the session Of 1889, he vot.
ed for the state to take fourJiflhs OF the
stock of the Fayetteville and Western Rail
Road, which would have been 81 ,6oo'ooo'
The project did not succeed, and the STATE
was not therefore involved by it.
i If MIR. Graham sinned in lS40 by mol
voting against the endorsement by the
state of 100000 for the Raleigh and Gas
ton Railroad, (being Speaker, and BY the