Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1870-04-22
WESTERN RAILROAD COMPANY.

the evidence of other parties bearing
thereon.
WESTERN RAILROAD COMPANY.
RALEIGH, March I'd. 1870.
| Examination Of 4. ]. Jones. who says:
| That he is President OF the Western Railroad
i nSapany ana mas Os0n SINCE 'No ''n Ap''i'
| l have examined the statement by the Treas
| urer of the State, furnished to the Committee,
| and now shown to me.
| Between the 18th and 25th of June 1869, re-
ceiVed from the Treasurer ], 800 State bonds,
each for the sum of ST. 900, dated LIST April, 1863.
There appropriation to said Company OF
| 1900 bonds, special tax. By the charter, 1oC or
the bonds were to be left, and were left, IN the
| treasury according to the provisions OF the Act
Bonds received numbered from sol to 800, in
elusive.
Question 1. Have you made any disposition of
! the said bonds or any part OF them-H go what
Ans. | sold fifty five of them.
CUES. 2 To whom were they sold-upon what
terms and where-and by whom2
Ans. They were sold regularly at the Board CT
Brokers in New York. L don't know the puI-
chasers. Five were sold at Ash; one at 46a; four
| teen at 81; twenty at 40; ten at 1884, and five
| at 43.
OF the above. fourteen bonds were sold on the
18Th Aug, 1860, by Greenleat, Norris 4 Co.,
by John F.. Pickerell, New York; one by same,
on same day, as appears from his account sales !;
| five by the same on the 5th July, 1869; twenty
| bonds, LIST Got, 1869, by Criss u Co., of New
York; and ten bonds on same day by Same parties.
! The above gross sales, in the aggregate
Quoted, according to what understood to be the
rule Of the Brokers Board, seven and cne-halt
| per cent. upon the face of each bond sold, and
bond for commissions. The net sales received
| by me upon said bonds amounted to $2O,693 ID.
CUES 3. What use has been or is being made
of the money arising from the sale of said bonds?
| Ans. a part of it / have paid out for surveys
! and other EXPENSES ON the road. part Of it
| have yet on hand. am not able to state what
l hoXyl hat m
| hand and not disbursed The funds not dis
! bursed are in the hands of Jones 4 LutterlQh,
| bankers, Fayetteville, North Carolina, subject to
my order. They placed there by me soon
! after the last sales in New York.
| CUES. /. Have you any vouchers for the dis
bursements made by you-if 80, viii you produce
and file them?
Ans. have no vouchers-tley are in the hands
| of the Treasurer of the Company, J. e. Davis
| exceptions which will state, but when claims
are Que and at, to be paid, give checks for that
| and takes vouchers. This is done after the
/ claims audited by the Auditing Committee or
| ordered to be paid.
| Qucs s Do you keep a bank book showing the
state OF your account with Jones Y Luterloh-
if 30, aSe you able to produce it?
| Ans. do, but have it not here with mo. 1t
is in the Railroad Office at Fayetteville and can
produce it,
here produce two receipts for sums expended
| by me, one from Kemp P. Battle, Esq,, for 800
paid I'd September, 1859, for professional SER
| vices for the Company; the other from Hon. D.
G. Fowle, for $500, paid 18th of August, 1869,
for professional services to in New York, for
| the Company, as to the bonds of the Company
aud touching the effect of the decision Of the su-
preme Court of this State in ihe case OF the Uni
| versity Railroad bonds and the effect thereof as
| to the special tax bonds.
! Ques. 6, Has any disposition, and what, been
made of coupons upon said bonds, or any Of
| them?
Ans. No coupons were cut off the bonds sold.
cat off the coupons from the other ,2G5 bonds
1869. deposited the coupons with Henry Olews
Il Co.. Of New York. The Treasurer of the
State paid to them $4,000, il part Of the cOu-
pons deposited, and that sum was paid to me by
| Clews Co., think, between the first aud tenth
| of January, 1870. There remained seven thou
| sand six hundred and fifty doIars OF coupons I'M
paid, which were returned TO me. J. have the
| coupons here in Raleigh, in my own possession
I can produce them if required-they not e.
| cumbel ed in any way.
! Queg. Z. what disposition was made, if any,
of the sum OF money paid for coupons, stated
IN your last answer
! Aus. have the money deposited with Jones &
/ Lutterloh. bankers in Fayetteville no part of it
has been used it stands to my credit, as Presi
dent of the Western Railroad ompany. have
10 receipt or certificate, but it IS my bank
| book, which, as have said is in Fayetteville.
Ques. s. Where are the bonds, 1865 in mum
F.! Der, which you say have not boon sold
! Ans. l.. P. Bayne Co, OF New York, hold
subject to my call, CO. bonds of the State for
which have their certificate, dated Nov. It'll,
1869 Utley and Dougherty, of New York hold
subject to my order, $50 bonds. as per their re-
ceipt, Nov. 9th, 1869 and have IL bonds in nv
own possession. The IL are specially deposited
with Jones i Lutterloh, of Fayetteville in THEN
banking house. The bonds above named are not
| hypothetical or encountered in any way. The
receipts taken for the bonds deposited in New
i York were shown to the Commission and copies
of them taken and filed. X The bonds were depos
tied at the date of the receipts, or, perhaps,
few days before.
Ques. 8. Have any of the said bonds been useC
at any time by hypothecation or otherwise, t.
} raise money-if SO, what part of them, how much
none y was raised, at what rates, and when, anl
what mas been done with the money?
Ans. think some OF them were hypothecated
the number do net remember, but good many
of them; do not know how much money wal
raised by such hypothecation l don't know &
. Whst rates this was in August or September
1000 IAN ana - the money raised by hyp0shecatioT
when and to whom?
New York, by authority, think some time i.
5 August or September last. don't know with
| whom the bonds were hypothecated, or whs
sum was raised upon them The money neve
9 came to my hands. It remained with them unit
had final settlement with them and got thei
, receipts above referred to.
s Dues. IL. Have any of them ever been sold an,
repurchased
Ans. know none were sold and then re
S purchased by myself or by my order; but can
not say whether they sold them and then re
purchased them or not. Up to the time got tn
receipts the house Of utey DougheEty held a
g and deposit part of them with l.. p. Bayne
q Co., who had not before had any OF them or use
or hypothecated them.
|, CUES. IL. Have you the numbers of said bonds
4, or the means of giving them !?
Ans. have not either.
d CUES; ID. Do you know whether they are tn
q same that you received from the Treasurer, an
which were deposited with Utley & Dougherty
q or other bonds substituted in place of those frs
deposited by your
Ans. do not know whether they are all tn
J. same, or any, or what part of them.
Cues. IA. Had not the price OF bonds fallen be
% tween the times when you say part of these bond
J. were hypothecated and the time when you too