Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1856-01-09

x NJ
sg nasceSt. per annurn, payablc =.
/hut.. on on the lst days of February anu
gusl each yes-,> and redeemablo on or after
day "a ;rod 1ooJ, ' ms.e re lssoeu ne
tion olfese certificates, expired on the lst
day ofrsssSt lat. No provision has been
mde CT Aeir renswal or redemption.
housAoy the terms of the act authori-
ing theseftrtificates of State stock. as also
" .1e ol''tIons ofthe certificates iasued in
tba nse gereof, the time of payment, after
sue ueo4Ptlatin of the minin um period, is op-
lionai WIN le debtor-the Commonwealth
YET oue reggd to the credit of the State re-
quires tnae prSsions should be made for their
renewal or reaslption. To redeem these GER
Siticates e ,1 a loan sSld become necessary, and
as ioan cannot @efected, in the present f.
nancial condition the country, on terms
more favorable toAhe State than those ON
which these certlhstes were issued I would
recommend that au,ority be given to issue
the bonds of the Com Aonwealtl In renewal of
said certificates beariA interest at the rate of
uye per cent; per anna, fsyabie semi-annu-
ally, and redeemabieAon ors after the expirS-
'tion Of twenty years; aii thsthe bonds be is
sued with coupons or ,ertifi,tes of interest
attached, in sums equal il and ut to the semi
annual interests thereon, payas on the srst
days of February and August Ihach and er-
cry year, at such place as may 5\desisnated
This change IN the form and chatter of the
certificates, it is believed, will be, adyanta-
geous TO the holders, without indasiRg the
liabilities of the Commonwealth, 40 jnduce
q willing aud prompt exchange, at .remiurn.
for the bonds proposed to be issued
The condition Of the public wot. their
general operation, and the receipts aexpen-
ditnres for the past fiscal year, viii b baregen-
ted to you in the report Of the CanACom- |
missioners. "a -- s
The aggregate receipts at the Treasursro |
public works, for the year ending \ oH,ber |
80, 1885, were 81. 932, ,376 Al. The agate |
expenditures, including ordinary and ex,r- |
binary payments for the same period, ami |
ted to 81 ,S39,7 ,79l Is. showing an excess q |
ceipts, over all expenditures, of Sl03,5853 |
The extraordinary payments for the Sd |
year5excluding $133,lG0 90 paid for re-layl
a the south track OF the Columbia railroad, al
S28, ,000 90 for re-building the Freeport aqu1
duct, wero $500, ,427 rs. The ordinary eI
penditures were 81, Jas, 1868 40. Aggrcgat
receipts as above stated, 81 ,942 ,37o H. o.
dinary expenditures $ ,148 1868 DO. Net re-
enues for the fiscal year, f94 ,013 3l.l4sE .a-
y This balance exhibits small Increase in th
vet revenues, as compared withathe net rev'
RES of 1861; and Notwithstanding the Will
dTsgal Of the transportation lines from th
main line of the canal, the aggregate revenue
sr.last year have exceeded the revenue
q sszs-s-- -aan twenty-three thousan
q % = Fror, I!ie a5,.san.s crops of the pas
aoli.' e. iTnnroved condion OF Ti4- -iS,esoet
sfsirs OF the conntry AZ sae q genr the revenu
Of business, iargs sesr iuf'i ne be C confidently
peeted. 80, ~ z. has been paid IN
- The sum OIL . go, - Pensy rania railroad CO.
saS sad ss: SeSas sss ses1S'sl = \ Ts
rnount largely ezceeau@s, II
aI,e com panies IN lo'h' i1,itS.. sati,fact,
same UIsrare division e@hiOiIs t
IIb- receipts were s'"--'O'c
result. s,,r,ss. 500. 097 So; showing net +
expendi'ssSe.ss 81 SO. If all our hh's OF
enae '1'e,5 %, exhibit similar balance nlse,'
sSsst5s Sosa ssSs s 5s s' genera; ssaS
system. large Increase in the b
o.tssss s s sf5ss'e ii ssiIs3.d II
.llsstIy The operations OF tue road, ior
p ,eIo Isre been highly satisfactory. =
.sa. Se az n11 ri that part Of the main line t
lion to Piitsburg inclu6
~ tht.aaSi