Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1856-11-28
1927 ,27O O3 1891, 9O1 81

To the item public received for the last s-
cal year should be added the of $lO2l 81 for de-
faults by Sheris the larger portion of which has been
since paid and the residue will be collected
1t will appear also that the sum OF IS 900 interest on
the bond of the Wilmington and Weldon Railroad Com
pany not credited the last fiscal year Properly speak
ing it should have been omitted by
sight and will be- found credit in the present fiscal
year Including these sums the amount of revenue for
the last fiscal year may be set down at S4O5 ll3 81
Ircgre say that this amount will be less in the
present fiscal year in all probability by the dividends
received heretofore from Raleigh and CASTOR Railroad
stock and partially if not entirely stock in the Fay
stteville and Western Pankroad. No dividend
made late meeting OF the stockholders othe former
company owing to the fact that the earnings Ofthe
pany we're chiefly expended in heavy and extensive
pairs to that portion of the Read extending from CASTOR
to Weldon which though lately built, defectiv-
ely constructed to render these repairs indspensa
BILE.
The bridge the Roanoke river at CASTOR is also
undergoing thorough repairs and large will be
quired during the ensuing for both purposes 1t
is expected after these repairs made that the stock
owned by the State in this company will again be
muuerating.
No dividend has been made during the present year
on the Fayetteville and Western Plankrosd stock The
construction of the North Carolina Railroad has it is
said impaired to considerable extent the business of
the Pankroad. and cannot be safely looked to
for paying the handsome dividends which it formerly
Yielded
It is confidently expected that the North Charona
Railroad will ultimately pay good dividends 1t is hop
ed that it may pay dividend an early day, and
thus measurabIy relieve the public treasury But am
sufficiently Informed upon the subject at this time,
to form a reliable opinion to how such may be
the You will however, probably have such infor-
nation laid before you during the session. will
BILE you to determine whether any aid may be reasona-
bly, expected from that in making provisions
meet the liabilities present and prospective, Of the
State.
The ordinary expenses of the State government for
the fiscal years ending the 31st October 1858 will
not think exceed $4,000, an average Of S85 coo
per year They will be more this year account OF
your session, and less the next.
From the statements given will appear that the in
terest payable annually the present bonded debt of
the State is $3O2,328 Is
And upon bonds to be issued under exist
ing laws the greater part In the present
fiscal year 7O836 90
And unless provision is made for raising 1t
otherwise, there must be paid out of the
Treasury, in ali probability for the Yad-
kin & New Riv Nav, Co.'S, the sum of $4,000 90
1t will be therefore, that the present of
the State will fall short of meeting these liabilities and
that further provision should be made for that purpose
deem it matter too, of the first importance that
provision should be made for the ultimate payment OF
the principal Of the debt Of the State and
pective by creating sinking fund sufficient tomee the
several liabilities as they fall due. a~4 s -~--