The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1861-10-18

The necessity Of more than one revenue
settlement. therefore respectfully re-
commend that you provide for and pay.
according to the provisions OF the oath
section, the amount assessed against the
State; but in doing so. care should be
taken that no part Of the burthen is inn
posed upon that class Of the people who
are wisely exempted by the act Of Com
gress.
! refer you 10 the reports Of the Super
visor for information rs to the condition
and business of Banks Of the State, from
which il will be seen that their line Of
discounts has kept pace with the legitis
mate wants OF the buishess Of the country.
The present condition Of public affairs
has diverted from former channels their
business operations, some OF their chief
points Of exchange having become CEN
tres of sn enemy's country, are closed
against them, ard they are engaged in
the poffeer work Of opening new changes
and finding new fields for the enterprise
| OF Southen commerce. -. Z -, !
| Therefore certain notifications which,
under other circumstances might have
been recommended are not at present
deemed appropriate. Let the system re-
main as it exists under the present Law,
leaving the rest to the ability, prudence
and good faith Of those whose duty it is
to direct its practical operations"
For full and accurate information In
detail as to the present condition, busi-
ness and profits of the Bank of Tennes<
see," you are referred to the report Of the
President and Directors, frofn which it
will be seen that the nett profits for tho
the two years ending July 1st, 1861. have
amounted to the sum of S552, l25 So. or
this amount S407 .6S1 81 has been paid in. :
to the Treasury, the balance being reserv-
ed by the Bank to cover bad debts, here.
t6iore contracted.
1t is due to the President and Directors
OF the Bank of Tennessee. and indeed to
the officers of all the Banks, to state that
they have extended to the Government
every facility and assistance ir their pow
er to place the State in position to repel
invasion and maintain her independence
without which it would have been difficult
if not impossible to have accomplished
much that has been done In this re-
spect.
BY the act Of the 7th Of May, 1861, it is
| lett to the discretion of the Governor to-
appoint receivers to take possesrion Of the
roads, property and effects of Railroad
companies failing TO pay the semi-annua!
interest upon the Bonds Of the State,
loaned to aid in the construction Of their
roads.
The Comptroller has reported the fol.
lowing Railroad companies as having fall
ed to pay the interest falling due 1st, July,
1861, to wit:
Mobile and Ohio Railtoad Company, $sS,72o 90
Memphis and Little Rock, iO,50O 90
| Nashville and North Western; 43,05O 90
| Rogersvle and Jefferson, AFRO 90
| Tennessee and Alabama, $1,000 0O
Memphis, Clarksve and Louisville, Sl,270 90
East Tennessee and Virginia, 1870 90
| Nashville and Chattanooga, $500 90
Believing as do, that their failure to
| pay. resulted from no want of inclination
on their part, nor from bad or improper
management on the part of their officers
and employees, but from the fact OF gener.
al prostration of trade and commerce,
almost their entire buisness, for the last
six months, having been the transporta-
ton of troops and munitions Of war, which
they have done with the utmost prompts
thde and upon the most accommodating
terms, have felt that neither the security
of the State nor the interest of the Com
papies would be promoted by placing
them in the hands of the receivers, and
| have therefore declined appointing such
receivers. r'
The Edgeteld and kentucky and the
Winchester and Alabama Railroad Com
panies having failed to pay the interest
due upon their Bonds of lst JANUARY, 1861;
previous to the passage of the above re-
cited act, appointed Adna Anderson re-
ceiver, to take charge Of the former, and
James B. Lamb, receiver for the latter
These roads, with the property and effects
Of the Companies, were placed in the
hands of their respective receivers and
have been operated by them up to this
time; the operations of neither Us vet re-
funded to the Treasury the amount Of
interest paid on their account.
For an accurate statement OF the ac-
count Of each with the Treasury, refer
you to the report of the Comptroller.
BY reference to the report OF the Agent
and Inspectors of the Penitentiary it will
be seen that there has been gradual In
. crtase in the number Of convicts for the
last two years. and that the business for
that period has been large, resulting in
, a nett profit to the State of S32,729 68.
BY the act of Oath March, 1860. the
sum Of SlOO,UO0 was appropriated fol the
purpose of enclosing and grading the
Capitol grounds, said fund to be raised by
; issuing that amount of coupon bonds Of
, the State which were 10 be cashed by the
} Bank of Tennessee at par,
The work progressing under the super
, vision of the Capitol Commissioners, on
the 18th day of September, 1860. issued
S25 900 of bonds and delivered the same
to the Bank of Tennessee the Bank plac-
ing 10 the credit of the Commissioners
that amount. By the act of February,
1ssi, eire appropriation was repealed and
the Comm issioners directed, after paying
all debts against them, to pay the balance
of the fund in theiI hands into the Trea-
sury.
1t will be seen from the report of the
Comptroller that after settling their &C.
counts they paid into the Treasury the
sum of S5 ,00B 81.
Under the 81 section of said act, ap-
pointed James Plunket receiver, to take
! into his possession the mules, carts and
tools belonging to the State and used
: upon the Capitol grounds, and ordered
hiHi W seii lho Hiuies aiitt sucu otHer pro-
: perty as was perishable, but to receipt for
and retain the tools, as they would. at no
$ very distant day, be needed, and could
!. not be sold except at a very great sacri.
1 flee.
The receiver reports tho nett proceeds
= of sale of mules, corn and hay at SIPS 80,
: which sum has also been paid into the
Treasury.
S The other property remains in the pos
, session of the receiver, subject to any
: order that you may see proper to make
r with regard to it.
. refer you to the reports of the Trus-
J tees of the Hospital for the Insane. the