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

N-'frr - sarft ~ = y AtttNss
AM : y ne a''i.iasss u lie lhsds IL Ne
Board u I-i-sh-i lDPrrvsme..l, .ns: Ii.ps-
ths l.i.srsry Bosrt l.as tsen .bie 1. rss
ihio i''e Ti.s.Gry. TIE pubic Tssssp.sr
has been enabled { /. m,e, ~ oe@.nds >,
me TrrssuIy. wilhnLt berroui,e sis.-
shsrs, notwithstanding CSC. OU0 II III
bnnas 81 me wilminriaa and Raseiel,
Rsii X al uh.ch Iell ere IL Jan.srY
la44. srder.sd by lhs S-s,s. lad 10 b.
rslf IS lhe TrrsaIItr.
The l.'efa's n ald did rai i. lie,c
ihsi q sss M. Iisd Is .ls I.rli.is.
isie MAT is fi-rkr ans other srtu.iii,.
should BE- s.ll 20 rsisr luad 10 be lea !.
cd 70 ihr people. and h,ws,ss zach lie
Board rssn ted ne disgrgominsnlro ms
~ neIe defined 10 sxps,ienrs lfa al
rlicsiions iarlesa. vesr .s,y npneicr.. y
4 was unshls 20 AVOID Il, sud render lie
S.sif. 10 which lhs Bo.rd owed il, fI.l
. dn,y, Thai AID which II nssdei.
. iistvlteainpnn The Zig hes rsfeeliar.
how emb'ra,s hgnis 70 The y, ards oh rg,d
wnh The msnses nntnl Of Ihe L le,a,y and
In ernsl Improvement innds 10 be requlr.
ell 20 bid these iunds suhiecl 10 lie nc.
qoirehent' Of the Pubhe Tressuty. and
10 be p'r'entd from iases,ing them 10
seine Profitable end pelmaneni invest
nell. whereby large amount { ( inter.
teresi is Loot.
. therefore recommend that smp,e and
refmanrn, pro,isioh be m,de T. .up,ly
the Polite Treasury, aid ihst whsie,sr
interest ought Justly 10 be due Ia HE Ia 0
Boards. upon ihsir fund, Le,t IL The
Treasury Tor The pubic service, be "a 4
aser 10 The Lilrr-ry d ,srd. togo into he
d,srihn,ion fnnd Tor the use Of. Con.
mUn Scho,l n"
RAIL ROADS.
AZ The em55Tsssnen;s ~ the TTeasuty
arise 10 part from ~, connections Of tie
Stale With our R.ll X al, /, becnn cs a
/, Ipsiler 81 sbsoIbire in's,esi 10 d wise The
means whereby their usrfulne.s 10 The
pshiic my be continued. and the State
~ tie saiRe line sustain n,sde r,ment OF
feeaun, a her llabIilies for ID. Sc road.
The eixrulties under Shirh Ties,
roads lsbhr, s,,se from Il cir inGebtednes,
fjr their eonsl.ueuor. The Wilmington
and Raleigh RAD Road. insludlug The SCI
rute ~ Charleston, cost some " o all
lions 81 dahsrs. while the stock Pad II
smecStsi TO sblui iliiS hundred 40,
| fifiH Sasand col's,s oily. leaving th
bat yof the cost IL coHstrurtion a deb
sgsinst the cofprra'ilA, The iuletest O
which shsurbs lsrge portion nf. is re
ceir's. 81 Of the Rsleigh aud Castor
Rail Road. ltco.i about ore million Sv,
hundred thousand d,ila's. h1le lie stool
paid in vas on,y sbou, SIX hnndted snC
ify 4 ousand dollsrs, leaving u e Ia src,
Of Tvs cost 81 snn.iuction debt agsins
the corporation, the in sres, Of which sb
serbs al il receipts, sG,er deirsyitg ID,
cuUcpt expensrs. @ III ~
To aid these T, ora'ions, the State, IN
der acts "f The Legislature. p SEED for III,
purpose, endorsed for tie latter 500. 00t
! dollars Of i,s bonds. none oi which il We
Cue !; and Tor tn former e390,000 nf il,
bonds. b. II 81 which hsvr fslen die AMI
been rad or IL de- msd--e50. 0G0 by III,
co porat.nn itse E: $50 600 ave teen re-
deened by bv literary 80 .rd as directr,
By the leg rl,tu'e; $40. 900 have heel
paid By the Public Treasurer sud $50
600 continues to fall due esch surcee,iln.
January, pn,l I'll isll doe :. 10 meet Itch
the Legislature au.t make provision Ii
The eveS, the corporation fails 10 ray.
| TO secure the Sta'e assinsl an, To-,
opon thete endorsements, deeds Gf mort
gage have bren execu,ed. as required by
thessc upon Ill he property aud fleets
OF these roads. Its resptc fully submit
led 10 your wisdom 10 adopt such cobr,,
IN laion t. these roads, as viii secure
tie public interest. ..
| In regard 10 The Wilmington and Ri
leigh Rail i ,ad, il Should be rerne~here'I
.hs. he State is o~rer Of 5000 900 Of III
lcapi,ai stock, and, theIeio,e. aha,e,c
course mey be pursued ss t,tle states Il
Isbrility upon lie endorsement. due f,gare
lshauld lie had 10 tbs stock tia, II ms,
| be protected as tar a. pass,he. with
ionl insoIsing the State IN further dit
licult.es. And further. the State bem.
The principal s,ocSholier in the c. rpora
inon, her honor reqaires that is debt
Ishould be paid. w,thoat any reference
whatever to her mere legal lab lilies :,
She holds > large portion Of The stock
| she holds The road, steamhoas and III! IN
effects oi value, nader mortgage t'mdem
lnily her--and creditors must rely mainly
on the hb4rality OF The State 10 perni
them 10 GET their money ftom tue corpor
Inon. T s e.1 49, & :.
l lis believed, r. I'm the success attend
ing The oprrat ons OF this road, no with
istanding IT'S heavy loss, 5 by hfe ard a
lsea, thai il INDUCED for few years,
wall be allie 70 NEE. all its IiabiIi,les. an,
:! ex,iica,e ilsel from debt. sud aaprec,s,
the value OF its stock. j h8a=i4ea s@
Il This indulgence, it is believed, may b
I. easily given wilton, any further REX Z
! the Stale. HI. III. ,,.n al j.
II Already The Literary B ,ard hclls Of III
hands NJ THE .inrnaraunn en,tot sed b