Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1852-11-26
REPORT.

lrfure Of NORTH Caroiinu:
OFFICE OF THE LITERARY BoaRD,
BIS October %, 1852
To the Honorable the General assembly
Soffhe State of North Carolina.
The President and Directors of the Literary Fund
respectfully submit the following Report:
One of the duties of this Board under the Act of
Assembly is to distribute the annual income of the
Literary Fund among the several counties of the
State The board distributed for the year 1851, the
sum of $685. lO4 IL and they have distributed, for
the present year, the sum of Sl20l0 a.
The accompanying statement marked CA will
show the principal of the Literary Fund.- and the
manner in when it is invested. The statement
marked (B will show tho receipts on the income OF
the fund for the fiscal year ending October the 3lst,
1851 and also for eleven months of the fiscal year
ending October the 3lst 1852 And the statement
marked &C. will show the receipts of the principal
of the fund from January the 1st, 1851 to October
the LIST, 1852, and the in which such re-
ecipts of principal have been invested.
! The interest due The fund. upon money used by
the Public Treasurer for which no bond has been
given since the ratification of the Resolution to bor
row money January 5th l847 amounting to S24,-
| III SO, had been Gained by the Board, and the
amount has teen transferred, on the Pub c Treas
urers books, to the credit of the Literary Fund.
/ The Board do not deem it necessary to allude. at
length. TO the detects in Compton School system,
tot to the nsu cency of the amount annually disrib
uted among the counties for school purposes. These
are matters which will, doubt. occupy the atten
tive anu ScrlOus consideration OF the General Assem-
bly,; and nothing which might be said here, could
add to the obligations which rest on that body to
pcrfect the system and to increase in every just and
proper way. the fund which the system is based.
he Board beg leave to say, that they concur entire
ly in the views this subject of their President as
communicated by him to present Legislature. in his
Biennial Message
The Swamp lands reclaimed and unreolaimed.
which have been vested in this Board for educational
purposes have received all the attention it in
the power of the Board to bestow. The Board have
adopted regulations in relation to the sale of these
lands which, it is believed, calculated to insure
their value whom disposed of. They valuable
chiefly for their timber Portions of them are high
y fertile bat it is to be expected that they can
readily be brought into market until they shall have
been drained and rendered accessible to the fa1 mer
| by works Of improvement leading to and through
! them.
BY resolution Of the list General Assembly, t
was made the duty Of the Board to inquire into the
tpEac;icability and expedency of draining certain
lands in Carteret Coun y. known the Open Ground
Prairie; and they directed should they deem il
adVantag eous to do So to the draining of
said lands and the sum of five thousand dollars
was appropriated for that purpose from the Literary
Fund Some of the members OF the Board visited
these lands in May 1851 ; and. after an cxamina-
ton of them by Professor Emmons and favorable
report thereon by him the Board determined, in the
exercise OF the discretionary power vested in them
by the Resolution referred to- to proceed in the work
! of draining Thomas J. Paseur. ESQ, was accord
ingly appointed to snperintend the work. He has
procured survey; but the work has not yet been
put under contract. The sum appropriated, it is be-
lcved, will not be sufficient to complete the drain
ing.
| In compliance with the directions of the General
Assembly, the Board have contracted for the mai king
of portion of the Pungo Road in Washington
ty. The work let to the lowest bidder: and, it
is believed on favorable terms for the Board. The
appropriation-fve thousand dollars-wili not be
sufficient to complete the road; yet the Board felt
bound to contract for as great distance as This
amount would construct. The work is progressing.
and cannot fail. when completed to be of material
benefit to the Literary Fund. 1t will render acces-
sibe, and thus bring into market, large bodies of
land which would otherwise have remained unpro-
ductive, and at the time exposed 30 trespasSes
and depredations 1t is respectfully submitted wheth
er sound policy does not require that an additional
appropriation should be made for completing this
work.
Messrs Keeling and Riddick who hold certain
lands near Lake Pnngo under tile made some years
since by the Literary Board having been sued for al
legged trcspass by the Albemarle Land Company, the
Board directed that its President employ counsel. to
be associated with the counsel of Messrs Keeling
and Riddck in suits in which it is believed the in
teress of the Board are involved. The Board have
also taken steps to institute suits against all persons
who may be treSpassing the swamp lands belong
ing to the Literary Fund.
The last General Assembly having vested in this
Board, in trust, for the and benefit Of the Lite
rry Fund.- all the that should escheat to the
State, the Board authorized the appointment Of At
torneyS, in all the counties to attend the interests
of the Board iii this respect but the appointments
of these Attorneys, and the commencement OF suits
has been deferred account Of pending in
the Supreme Court involving the constutionaIity of
the act re ferred to.
The Commits toner's appointed by the last General
Assembly to estimate the balance due the Messrs,
Cosby for building the Institute for the Deaf and
: Dumb and Blind, made award in January last of
1921 70 to these gentlemen. which amount has
been paid out of the Literary Fund.
Professor Emmons, State Geo'ogst, has been
gagged during the present year in the performance of
his important duties, under the direction and per-
vision ofthe Literary Board He will no doubt sub
nit in due time report of his operations and OBJ
seryations which will be laid before the General
Assembly.
The Journal ard proceedings of the Board for the
past two years will be submitted to the examination
.of the General Assembly, whenever called for.
4 DAVID S. REID. .
Pres Er-Ofcio Lit. Board.
The principal of the Literary Fund invested as follows:
1922 Shares Stock in Bank of Cape Fear, s532
\ 2 5027 $ g Bank of the State, 502, 700 90
: 3. Bonds of Raleigh and CASTOR Rail r DAD
4 Road Company, endorsed by the State
due LIST Jan. 1860, 10000 90
, 4. Do. Wilmington & Raleigh K all Road
Company, secured by mortgages and
=" deed Trust on the property of the Com
pany in 1887 and 1870 $1,000 90
5. Do. endorsed by the state, $4,000 90
g. Do IS Z, $50 90
4 ettcvjIlc ant Western Plank Road, 1000 90
s Do, executed according to Act of Assem-
]. bly,, assoS So
; TO- Do of Wake For st College eies 81 s.
: IL Do . Floral College, 20 600 OO
IL