The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1844-12-05

t.tteAl Destas - ttihui ~ lftt.s
ST. te sssllsd 70 .sks Up ne cllsr tpuds.
". 81 iss.i, de isrfer para az Thea, ).
iaslas uuy al dns. And l d,,nbs No,
ll.t tosI or4i.1n would pIvmp,ly psI lie
ialeissl 70 plosure Indulgence On Ibs PRO
sipal. uhesiy an.ll bettab.si 10 nsei
s.lisE ! shlll e. whirh pfsss. snd soae-
I'm, emlarsass. ~ operations.
/ Ire f.ilessly Fund should be in sass
aid seIi II Nv. sta.tnls. Wha frr -
n.a.t esissiu iasssissnIs could iiis isRd
haze. lian il lhe,f bonds Sale. BE-
raufe lie Stale i ,erurliy. and his laorl-
sage aPon IFaIe,tJ. r0snrg over tao
Giillons 81 dvllsn. - secure their pas
msti; csraln, bscssss they yield srln'-
= nla'ly lhiee Fer cent. interest; Ahirh
dots nj fucluits ike lie dIndtlds u
BshL Suck.
Should this ern,st be adopted. TIE
Board oil be aid,d I'D nlie, ed; she Ii
Isiary Fund all have sale and csTIslu
Investment; and he SlAie nil,b n fur
ihsr iu,olsea.
Whittier You Will aiaPt tits or come
wi.sr conrse. 10 submitted 10 your cgnsl.
drral.on. Bu. xhslsser course is rurss-
I'd, sn,lle provision should be made 90
SUSAN The credit II the State. 10 every
possible contingency.
10 regard 10 lie Il leigh aod Castor
Rail II al, this uork loo sss c. instructed.
IS h.inie stated, mostly rpln crsdii-ihs
balance due for lis construction ,ller .ex.
hsusilne The hole Of lie stick sub.cr bed.
amounting o sum much larger Than Ihe
whole siork.
This corporation having fsiled 10 ya-
m ~, 1913. 10 Pay he initr,st due on
rs bonds endorsed b The Slsls. lie Public
T'eaar,I promp h paiai,. and preserv-
Ell the faith 81 tie State, ndh-s coniinn-
ed 10 10 50 ever since. The amount lhui
| i aid will appear ircm lie repnIL
A billin Equity has been filrl Aroidinl
u The lsquifenea. ofllie arts asinMisln,
the erdorsenent. 10 ,equesier the profi
Of Tie Road 10 indemnI IS the Siate-1n,
receiver las been appointed. 1t IS be,
llesed thai the receipts Of ibis Road 70
years 10 Gone Will be insufficient 10 keel
IL in repair end pay The interest upon il,
debt; consequently ils debt mu,t conunu,
10 increase. Il is, ,her,fse, respectfully
submi.ted Whether It weuld no, he beti,
fer The s,ot kkold.rs, he S ate. and IN
public, thai The Ioad and its effects shoui,
be disposed Of opdrrribe n,.r,gsgrs; s,
thai heiher i, fail. int, THE hands al ih,
Site or into The h,ndr OF new sci q
Stockholders, lHcorpoIa ed for the purpose
lit may be olsen. sarrasseG: Tor little
doubt is enisrlained, ibst viii even IL
I present prospects. il vii not only keel
is.lf In repair. tn, will held be.idss
considerable income. .a...a
Should You determine to take ihi
course. sueh s'eps should be sdopied a
s,ll be htst caleulet,d u enhance The Va
lue Of the property. This course il due
,oitlse Sla,e 10 protect her agsin.t her liza
b lii.s--il is due 10 those individuals v lt
voluntarily entered into bonds 10 the a
Mount o $500, 900, to indemnify the S'at'
aga,ns, her endorsement; and u is Gus
10 the Stockholders 10 make The property
If possible, bring more ,tan The amount al
/, the debts due form The corporations: so aha
the ttsck may net be sn en'ire luss.
AID, in cunnectsn with this suhjec',
will respectfully refer you 10 the message
submi ted by myself to lie last Leg,sla-
re relstise to cffeeling acommunicai'cr
BY ra'l ruad between THE rosd and ,ht
sevsrsl rail roads hirh ieImina;e at Wei
con. and 10 constructing turnpike from
Raleigh, westward. These Two improve
ments would greatly enhance the Uul,t,
i end valae of The Raleigh and CASTOR RAJ
Ro ID, aad doubt not would cause il I,
brmg much higher prize.
Stnce the stjournmt n Of the las, Legs
la'nre, portion Of the Portsmouth anl
Roanoke Rail Roa,l. within the linus o
Ibis $ ate. Was torn up End rendered i'm.
]. passshir, by an ,ndlyiduel claiming !, as !
Purchaser, ut sale mads under an execu'
Lii "a asainstike corporal on, whereby The
,rasei and transportation on the road wi II
fot lime obstructed. The legality 81 the
course pursued by tbs pnrchaser has IN
dergone iudici,l investigation, and the
! matter is now pending befare The Su.
preme Court.
| Iii is tiny design to express or inli-
mate an opinion as 10 lie property or lie,
: gslry Of the course pursued BY .he pui
!, chaser. a.@s. ia ..1..e. az. ....... s.a
! The interest which Stockholders have
in corporation created for The public use
/ aud convenience, should be subject to
. ,heirtlebt,: and the psoper'y heidi such
curparsunn should be liable to its debts;
: bo, th,s interest and properly should be
r. achej by the creditor in such way as
/ no, to pn, The public to Inconvenience
|, destgay tue franchise, and defeat the ob
iec, had in view by the Legislators, in II
: creation. Ii there be no law 10 enabl
c,ediio,s 10 reach the interests Of stock
: holders and the properly Of corporations
, without de,ri,nent 10 the public. such
law should be passed as will .nable crs
. ditors TO secure lhlir debts. and, al N
, same time. secure IN the nuhlir the hen,