The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1846-11-26

4 a eeuia hsfeAg naN1 ceen ne cesi&h nl
lie Legislature 10 sisri lees IL On &c
s ock ii lG6,s idusis in Ihsl Hsnk. ihan o.
hist 10 sialisr lrEliunens IL he STAR.
To ,id he TnssssIy. utt.io her sssas
san Be rsal.ssc. / suggssi aia' The Baad..
Noies I'D luct mems. held ~ he Lee
rsrs Board. sens.ilRg rlis 81 Of he &c
expended balsnrs spprspusisd g eFaa
SS sup Lands. BE- aurLed assE To- he Pub
he Israsustr. b. be FL seEr j and spGlssd
scroldnR a. our nesssk tbs; bul. lhst The
81. q hs eharFsd vi tie smopnl lheteai,
. . lo.n. fs.e ia'ersn o. slaeA shali es
faithfully psld 80 "a Innass PsEI q tie
alrIssbulion for Tue upper - S"nGsn
Srio.ls Tie efse.6sl sfrErliy al lie
4 Prinripsl. srd lie runstnsi Ist ntnt si
Ihs INT nsl. i. ell tih, u new cfsIrsd iFam
The Literary fsnd. The P'ePased DIS
position ol ,h,s part Il a. bile n s1prhrs
Ihe pIeseni want. oi the Stat. HI.l rslieae
the Sehool Fund from the expense mci-
! den. 10 the preseu, I.nsn Oll,ee in The l.s'
lersr, Board: aee tn neus.sd Revenue.
: in tie mode 81 ea,iy sci forth, aIll afford
ample means for the payHena oil the inle-
res. II will simplify tic P"bl'e Accounts
10 di.tcl The Blonde ollhe Wilmington and
R.Is,gh Raa Rad Company, now lying
= IN the fresEprs, and amounting 10 500.
. 900 - before stated, n b. transformed 20
The Ii efuy Fund. and - an equivalent.
! that tie Tasern end Auenon taxes BE-
hers.i 81 rad INTO The Public Treasury.
To iqniista The Slaie's resi- onslb,iIy
. fnr tie Raleigh and CASTOR Rail Rosd
i. Company a. e.rly rs pTss.lesb's, reeou-
4 nsnd the c,eation ii a siaklng fund, IN he
] applied in bu, ing in and caneellng DO h
= kinds ol Bohd', when they ran ts pur.
u chased st, 90 b. Low par, to ronsst lsi,Dl
J. sny Surplus vii b may BE- IN the ffes.
sury. sfeT d.. a. ing customary tsPsnsrs
e aud specific appropriations. 2nd. Any ill.,
e CONE d. rived Eon s.id Raj Road ,f re-
Is tanned. nr l.. procs, ds. II I'D. Arb. Any
/, reco,.tes tf"slnd sssinsi tie Stckhol'
81 ders ia sa,d Company, und,rt'e 18th eco
d lion cf tie Ac. at 1899. OF sss'n>i The
If Stockholders aid Subscribers under The
D, Act af 1871. SUITS are now tendIng g.
m gslnst .nrdry obi sof. on The D ,uts. gwen
T. Tor The S sle's indemnify uudtr ihe Act
lie OF 1871, ALTO Lied 10 renew their bonds
q brennislly, rs rquir,d b. Law, and re-
T. get thai no decision hss, a. yei, been rem
,f deted IN. the premises. II is commended on
HI h-h.r NJ ,hs 80 to. ths, Iaiiufe 10 renew,
d IS a beach II lie cendaina OF he aond.
g. inducing forfeiture Of lie whoic penalty.
Ne Snce he foreclosure OF lie Mortgages,
lg and ,he iasuflicuncy Of the real and per-
snnsl estate Of The CompsEy to indrRn,ty
& tbs Stste N hsi sseotity ship, il has be-
lg come an interesting q"esaoA 10 What tx-
Is tent can she clsini 10 be ihGemnlhrd by
"a: the individual Stockholders md Bonds.
nj men. and al Mat time is her right thereto
no to be asserted! by the l4th rstu"n Of the
a Act Of 1899, in the esse which has hap
e. pepsd, 10 il, j" Of the insnt:icienry ot the
Is properly Of lie Company In pay of and
he satisfy The full amount OF blnds, then ti-
ID rectsd 10 be Endorsed, including the prin-
IN eipai and The interest thereon" ssch ard
m every Stakeholder ~ss to be hound to ray
d. icx ards mskiug ur sush desc ency, an
lie amount corresponding ~nh his $ ock held
u, therin .. The toe hen se.h deficiency
Ist should he s.e~ttalned. The Act oil ls4I,
We designed, tom lis title, inrthsf 10 secure
&C the State 80 last lass. ~ sell g. 10 grsn.
lis further aid TO the Cox pspy, provided
hn amongst other th,ngs, for the execution
b. and deise,y OF Eonde. in he aggregate
re- penal sum oil $500. 600. by Stocs holders
h ami SuhsssIteJs, cossn snsns TO iads ami
on fy the Safe agsinst any lnss or Gsmsge,
y, in consequence Of her sr1stysh,p IN Vie
all premises, and rnsufIiciency Of the real
lu- aud persssl s~s:e and properly If said
Ist Company to discharge the ssme." i
Die would sesr, therefore. to havs been the
TO- rn,enton ci tie Ac, of 1899, 10 hold the
it Stockholders ,rdis,dually sespnEs,ble f,l
"a L" any loss to the Safe in the payment eI
ect primer pal CT inssas,," sfsr spptyins III
in nottgssed property, - IN equal smoun
sx- with their subse,ipuons osseek. ktoihine
re- the, parcelve, IN the Art OF ls4l, chang
90, es that iutenton. The BonGa directed Ii
m. be ,aken. appear 10 hsrs been purposed
Ike q, the least, as ruNt lsis sscarisy toT 'hs
av former Inability. and to provide mor'
Of easy remedy IN CAGE Of steeomehsnce
Whether the Bonds sctusliy taken con
in fnrm 10 this construction oi tie Statute, %
ca whether i, nay be necessary to resort 4
en-. Court Of Equity to assert The States &c
nv medy 10 lie lull exsen.. on the ground 4
IA mistake or iasdsersenee in framing T.
Mil Bonds, 10 a matcr fnr your mature def
The bess,tou. That the Bet 81 1889, secuo
IA, obliged the Stockholders to save tn
an. Safe hsrnlrss. both a. to principal en-
-. interest, esanpt be doubted. Nor. will
De readily .dmhtsd. that he Ac' oil ls4l
nj. in pari meteria, ~ss desigsed b sbr'ee
's,, OF surrender any security. Those St'cl
,hs h ,l'srs no CD rot giss Bonds. seem
NJ. = rsspons'bI. :" the amount the s,oc
under The krt Of 1899, tnr both intete
,,sa aad principal. And il would be an Al