The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-12-02


Decrease .................-... eSos4ee u
1t viii be that the collected Tor she arst
Ave months Of the fiscal year ending June So 1854 10
o5 less than II for the period in 1859
Specie in the vaults Of the assistant treasurer for this
district, Nov. 20, 1854, "a, 500, 4o3 "A.
Gov. Reid, Of North Carolina, in . recent message to
the Legislature, states that the amount Of the public
debt the 3lst Of October 1884, was millions eight
hundred and ninety-ave thousand seven hundred and
twenty two dollars and thirty three cents 49,
This does not include two hundred and fifty thousand
dollars (s250,000) worth of bonds Of the Wilmington
and Raleigh Railroad Company which were endorsed BY
the Senate because the company regularly meets the
interest," and from time to time paying portion Of
the principal Of its debt Gov. Reid urges the Legisla
ure to continue the plans for inland improvements and
says "What be done with safety ought to be done
now, and the rest left to time. Wild and visionary
schemes should bc avoided and the credit Of the State
should be inviolably maintained"
The Governor Of Arkansas his message to the Legs
ature Of that State gives the annexed statement rea
tive to the public finances and the operations of the Real
Estate Bank
The State of Arkansas issued to the Real Estate Bank
1880 Of her bonds by the sale Of the bonds the bank
ave hundred and thirty thousand doars y 'Hs 0A
By the provisions Of the charter the bank bound
to pay the interest and also to redeem the bonds The
Arkansas 141 $50 Of land valued by the commits
sioners under oath at g. 932 80 indemnity to
by the bank of the interest and the redemption or
payment Of the bonds 1t is represented that the bank
paid the interest these bonds to the first day
Of July 1871 and that interest has been paid by the
bank since that date
Under the act to estabsh the western branch Of the
Real Estate Bank the State issued that institution
500 more of her bonds each for Co., bearing interest
at the rate of six per cent per annum the tochod
ers 100 in number under this act mortgagcd to the
Nat NfAr ~ land al NV
mssioners under oath at s77o,s40 o. indemnity
to the State and the holders Of the bonds for the pay
ment or redemption Of the bonds when due. BY the
terms of the chter these bonds could not be disposed
% ns the
the 7th day Of September 1910, and only obtained
These hypothecated bonds have been returned to
the State but the Illegal acts Of the bank have been
On the I'd day Of April 1912, BY deed OF assignment,
the assets Of the bank amounting as stated to g. 4os
96e Is placed in the hands Of trustees When the
bank At Little Rock there were four branches Of the
Real Estate Bank: at Warrington at Columbus
assignment, the State under the chayer Of the bank
had two directors At the principal bank, and two drec
tors at each Of its branches TO guard and protect her
deprived Of her representation in the bank. Every off,
agent Of the state was and has been excluded
The the Real Estate and their two off,
had control and cement ever since the I'd Of April
Of the large fund OF assets stated at two millions
four hundred and FIVE thousand nine hundred and sixty
six dollars and fifteen cents, well the interest
which, from tmd to tme accumulated the debts dur
The notes Of individuals to the bank drew interest
the rate Of eight per cent, and under certain circum
by hs bank bear interest the OF six per per
annum. The liabilities Of the bank the I'd day Of
than Ss assets &c on
have been placed In the hands of the trustees under tn
decd Of assignment.
The executive has official report information
from the bank, showing oil its present liabilities and the
amount Of assets now remaining unexhausted. But 1t
known, the present Liabilities would be million Of
dollars greater than they were the I'd day Of April,
1872 this be so now and II the trustees and officers
received Sc Of assets than the bank owed
the I'd day OF April 1872 certainly the people Of this
State and particularly the stockholders who morgaged
land to the State and bondholders against loss
deeply interested in having full explanation and
true statement Of the cause Of this great deficiency II
seems to me that the interests credit and honor Of the
State are too deeply involved for officer legislator
Of the State to do any act which would tend to suppress
or delay such action i necessary TO obtain full and
complete explanation let the responsibility and account
Not Of the $50 bonds sold by the bank has been
redeemed and surrendered the authorities of thes
But by statement Of the cashier and secretary 1t ap
pears that the FIRST Of October 1854 the trustees had
In their hands ITO Of these bonds that the interest
leaving unpaid BY the bank ISL bonds, upon which the
interest unpaid by the bank amounted the LIST Of Oc
toDer, 1904, TO But by Information from
the Treasury Department OF the United States, II APP
which had accrued this State from the LIST day Of jan
uary 1884, to the LIST day Of January 1853 account Of
the five cent Of the net of Ne sales of pub
lie lands within the State and account OF the distrbu
tive share Of the proceeds of the public lands under tho
act Of Congress Of 4th September, 1841 had been
tanned at the United States treasury and applied before
the LIST Of October 1854 towards interest due 500
bonds Of this State which had been issued to the Real
Estate Bank and which held by the Secretary OF the
Treasury in trust for the benefit Of the Smithsonian In
stuton Therefore, the real amount of interest due
the LIST of October 1854 the 551 bonds not taken
UP by the bank 81 031 ,242 H. making when added
to the amount Of the bonds 81, SS2, 242 II.
1t also appears that the bank Is indebted for
1922 $3.50 ~ obtained the 7th September 1S40 from
the North American Trust and Banking Company, on
the 500 bonds which the bank hypothetical and the
Of $225 666 81, which, added to the 81 42 H.
makes debt Of ST. GOT 900 o. account Of the Real
Estate Bank Of the State Of Arkansas the lst day OF
October 1854 The bonds sold by this bank will not be
due until the 26th day OF October 1861.
Relative to the fiscal affairs Of the State the Cover
asks attention to the reports Of the Auditor and
Treasurer from which II appears that the State debt
expenses u the State and which amounted to $l75,751
a. all paid during the last two fiscal years except
1871 7 and that the LIST day Of October 1854 there
remained in the treasury subject to be used for ordinary
expenses, balance, in specie, of S29,514 20.
The annexed statement exhibits the quantity and value
Of foreign dry goods entered into this port for sonsump
tion for warehouse, and also the Withdrawals from
warehouse, during the week ending Thursday, Noveni
Der 80, 1854
MOVEMENTS IN Foreign DRY Goops.
Ia. f.-.. H.