The New York herald., 1869-02-26
NORTH CAROLINA.


Important Decision by the Supreme Court
The Chatham Railroad Appropriation DO.
clnred Observation-Disclosures Affected by
tho Observation-Disclosures Among Railroad
Men and stock Operators.
RALEIGH. Feb. %, 1899.
At last the Supreme Court has rendered its de-
csion In the long. .mooted Chatham Railroad in
junction 1t will be remembered that $4,000, ,0oo
were appropriated by the State IN aid OF this road.
and that bonds were issued and thrown upon the
market, selling readily at g. a 6sh, until an IN
junction was granted by Judge Watts at the instance
OF q rival corporation. BY mutual agreement OF
counsel which were the most eminent in the State,
the case was at once brought before the Supreme
Court, whHp tribunal reserved It's decision until :hs
present. Much regret Is expressed that It was not
rendered earlier as it might have saved the state
untold expense in preventing great deal OF similar
legislation. A number Of otner appropriations arc
in the same category as that of the Chatham Rail-
road amounting to over S12,0)o,0o0. Railroad men
and stock job operators here are intensely excited
by the adverse decision; ana the entire railroad
appropriations will now have TO be submitted to q
vote or the people the greatest - felt by
interested parties. The following 5 the decision of
Chief Justice Pearson and Justice Rodman, Judge
BY an August 1885, General Assembly enacted
sEcTroS l. To enable the Chatham Railroad Company to
the public be directed 10 deliver
M company coupon bonds oi the State not TO exceed
sTc excssnge for said bonds the company
po with the lie boads of the company OF the
same amount, same interest and same dates.
hs State soscr,Sss saoOooo aud directs q
Surrender hs bond. issued under ihs Aasu isss
question s .As construction q article Eve
power create this debt the supect W submitted %
The statute under consideration complies with the
s sso nSs % s cs 81 Ss %
the vote of The people Tho question turns upon this point
this We other rules Of constuc
In construction the Court single clause
but consider The entire instrument The bill o. rights
pssi1. Sss1 II: prs,lasa money
ss public asb, 1e ana proyid. slnE,ng fund aisIs ::
state and paw oG the pa6io doota rebuke 70 hasy esa
r. .s eosS sns saS
to The increase Of the debt BY restricting the
e LOOK ne prsy1Su,: :,H
furnish ssJ 70 the meaning and open % plainly mat
Our public has in the main contracted in three
Bv subscribing stock 10 corporations and issuing
sos s.hsn '''D.
~o ssss % h ana
public exposed n: osr oIus.rass would y:
three ses should carefully Of the aides and
The .svs be taken 10 II. Ordinary ms.n.ns
II by neceksarrfly grntuty tive and
orss o G yos give for .s
lot - y wl give yca siooO for q YOU VII! eve me az
q; ). snSs5 ow &.
vs sa s.
The suggestion that the State was given 10
urged other ssCeuon the direct psca
no aon e: void
s III he pas with
There decretal order reverssd lhis VIII 30 oer
h'd R0dman and oplsics pss SS aSx..
Twas admitted both sides that the properly In
court. rhe material question whsiler tnat part 81 act
which the Chatham Railroad Company (sections
g. a. taken in connection with the acs OF which 10 amen
State the constitutional power Of the General
Il must admitted this OF constitution
The question IL divided independent clauses TIE
hrr clause requiring tho evynG Of aspeciA ax has been
complied WITH No question arise nneT this cause Tss
ona cstr superAnucI IN CERTAIN speiA 10 the
hrs genera; rScon This al Itional restrlc.ion IL sub
pro dcd for The act OF the 18Th Of December,
ls ueer 'untnlshe ROAD nor road In which he
State had direc recunisry iulercs Any other
Ton would re lder hIs clause totally Ineffective. m
The question then cfnced 10 thsDocs thr act OF 18th
December is give end the credit OF the State In aid OF
socaton corporaiioni n does Il prohibited. Rats
prob bon h expressed the constitution clear ~
iossble FOR language make IA The bones OF the s,as
cred Of tho state anj Tor what purpose "a
they have been given except 20 all The company 10 build
road! Therefore The OF The Legislature in question
In ,Sis view OF the subject It s imrnateal whether the
bonds Of the state at par or not Tue question uss 70
concur ia oploa With Chief Justice wl. JudSs
Dick.