Union County star and Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1859-1864, 1862-01-10

gratifying under all I f. then existing circum
stances OF embarrassment affords triumphant
evidence OF the confidence of Le people IN the
sta 'ility and integrity ui the Commonwealth
and OF their determination to support the Gov
ernmeut.
The operations of the Sinking Fund during
the last year have heen as shown by my Prccia-
nation of 9TH September last, as follow
Debt redeemed from 4th Septem-
Der, 1860, to 1T Sept 1851 -... 500, sol Ol
Of stock loans w $500, $50 90
" interest on certit-
Gales -.-... o,ooV VI
I" relief notes. ...... Al w
-S3O0,S sol 0l
refer to the reports of ths State Treasurer
and Auditor General for the details of the ii
nancial affairs of the Commonwealth. The re-
ports of the Surveyor General and State Libra
Iiln will exhibit tine state Of the De. artments
under their care.
The Commissioners of the Sinking Fund dur
ing the last spring received from tue Philadel-
delphiI and Erie Qate Sunbury and Eriel Rail
road Company forty bonds Of that Company for
SlOO 900 each. and mortgage to secure the
same executed in conformity with the third
section of the act Of March the 9TH, 1851. That
company has also deposited in the State Treas
ury its bonds to the amount of five millions OF
the same act On the 9th of May last granted
my warrant authorizing the State Treasurer to
deliver to the said company one thousand of
said bonds being to the amount of one million
of dollars. This warrant was Issued in conform
ity with the law, the i've per cent bonds men
toned in the fifth section Of the act teXcept
those belonging 10 the State and now IN the
Sinking Fund having been previously surren-
dered and cancelled, and satisfaction entered
on the Record of the Mortgage men
toned in said fifth section. Having re
ceiyed notice from the company that
II g bonds 50 delivered to the company or their
proceeds had been appropriated i'll accordance
with the provisions If the law. on the 2lst OF
June last appointed John A. Wright as Com
missioner to examine and to report to me whe-
ther said bonds or their proceeds had been ap-
/ propriated TO the purposes required by the act
/ His report has not yet been received by me.
1t is understood that arrangements have al
! last been made under which the direct railroad
connection between Philadelphia and Erie will
| be completed within u short time. Ii is impos
sible TO estimate too highly the importance q
this great work 10 the Commonwealth, and e. i'e
cially to Philadelphia and Erie and the hither
To neglected counties Hear lis route west of the
Susquehanua.
! By the act of the DIST April, 1858, for the
sale OF the State canals to the Sunbury and Fri,
railroad company it was provided that If tha
I company should sell said canals for a Sreatr
sum in the aggregate than three and hal
millions OF dollars, seventy five per centum o
such excess should be paid to the Common
wealth by transfer Of so much of such bond
and securities as said company should receive
Tor the same and pay able in like manner
! The Company sold the canals and reported
! that the share of the profit on such sale, due Il
the Commonwealth was S2Sl 80 OF whlci
$3.50 paid in cash and for the remainin.
/ S2Sl 900 the Commonwealth received coupon
bonds Of the Wyoming canal company 10 tha
amount, being portion Of bonds fol s3oO, VO'
/ issued hy that company and secured by mort
| gage Of the Wy0miug canal formerly called tn
/ Lower North Branch canal These bonds bei
an interest of six per cent. per annum, I'ayabi
semi-annually on the 10th of January and July
and the interest was paid by the company Il
January last inclusive The interest due il
July last has not been paid. Judgments h.v
ing been obtained against the company on som
Of the coupons for the unpaid July interest,
! bill in equity was filed in the supreme court b.
a bond aud stock hol ier in which such proceed
ings were had that by decree made on the z
September last the property and affairs oil Tn
company were placed in the hands OF recei
veT
the stock and bond holders which contemplate
a sale of the canal under lawful prccess and
purchase of the same for the purpose of formin
a new company, of which the capital stoc
shall be one million OF dollars, divided int
twenty thousand shares OF fifty dollars each, q
which each asserting holder OF a mortgage bon
for one thousand dollars shall be entitled
eighteen shares and each asserting holder {
fifty shares of stock of the Wyoming canal CON
pany shall be entitled to nine shares. Of cours
no officer of the Commonwealth had authorit
t. assent To the proposal OF in any way to aifet
: her position. 1t is believed also that til
plan is not one that ought to lie nted I
by the Commonwealth. and that under all tn
circumstances if the convenience of individut
parties requires change such as proposed, t.
debt due TO the Commonwealth ought to
first paid or fully secured.
Isuggest that the Act passed Sth of Ap,i
1861 entitled. "An Act concerning the sale
railroads, canals SC" should be modified 1
J that in all cases in which a debt may be due
the Commonwealth by the company as who's
property public work may be sold, the pu
chasers thereof shall not be entitled to the b M
fits aud privileges conferred by the Act unie
! they shall have tlTst paid the debt due To Il
State. or secured the same by their bonds to ii
| Common wealth secured by first mortgage q
the work itself
commend the subject TO the immedia
consideration of the Legislature, as an etfo
may be male at an early day 10 enforce sa
# the canal, and some provision by law To pr
tect the interests Of the State would in that ca,
he Necessary
The wicked and monstrous rebellion wbic
broke out many months ago, has not yet bee
Quelled Every sentiment of loyalty and p
triotism demands its effectual suppression.
In my messages of the 9th and both Of Apr
last set 70 til at length my views OF the cha
acter and objects of the contest which is sti
pending Subsequent reflection has contirmt
me i'll the correctness of the opinions then e!
pressed and to which l refer. In addition
ought to be understood, that looking to the "
riety and character of her products and indu
try, her material interest alone would rend
the preservation of the Union from the pre-
- ent assault upon it, Indispensable to Pennsylv
2 MIA She cannot afford TO have foreign po'
er below OF above or bounding her on the Del
ware. the Chesapeake or the Mississippi, al
: she will never scquiesce in such "A result, wha
> ever may be the co1t in men and money of b
resistance to it
!. On the OH Of April last directed the atte
ton of the Legislature to the necessity whiC
existed for an improved military organization
| and on the 18th Of the same month the A
: entitled "An Act for the better organization
, the militia Of this COmmonwu passed, a