The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1871-01-25
And il leaves


The amount Of bonds bought and cancel
led by this company since the commence
ment Of my administration has been
1926. 900. 90
The amount Of old debts
paid by me that was due by
other administrations. and not
on the books, was lG7, 1897
The amount Of cash paid to
Gov. Graham, Trustee. $500, 90
Making the total amount
paid during my administration
towards the debt ofthc Com
pany $3.50, $685. OF
Amount % cash paid stock
holders last fiscal year, 240.000,00
Amount of cash Ola hand, loo, 900. 90
Making grand total Of 1920, 1893, 07
of cash paid out for debts, dividends aud on
hand, besides paying all expenses Of the
road.
The public will sec by this statement
that lave paid $3.50. 900 of the debt of
the Company. and at the same time paid the
Stockholders $240,0UU in cash dividends.
and have at this time $3.50, 900 on hand in
cash and that have only issued $22S, 00O
III bonds since my administration except
what were issued to pay the Scrip Dividend
declared by Mr.. turner's administration
amounting to S2i0.u00. The amount Of
cash left in the Treasury at the end VI Mr..
Turner administration was Twenty l'hous-
and. ninety four dollars and fifty three cts.
Not enough 10 paya debt Of twcnty-onc
! thousand dollars due b. his administration
to the Tredgar Iron Works for Iron. There
/ fore 1t will be seen that have not paid
debts out Of the funds left in the Treasury
b. Mr.. Turner.
The dividends declared By the Directors
Of this Company have been. as this state
ment from the books Of the Company will
show, fairly, squarely, and honestly made. :
Hon. Josiah Turner'S, Jr., say to the con-
trary notwithstanding.
Should any bpHdholder, Stakeholder or
member Of the Legislature or Mr.. Turner
doubt this statement, the books Of this Conn
pany are at their service at all times 10 81
tisfy themselves Of the truth or falsity Of
! this statement.
But may be mistaken in What Mr.. Tur-
ner Ilncans By, making dividends '..airly,
squalcly, aud honestly" lie paid his de
yidends IN Scrip convertible into bonds
which increased ihe debt Of the Company
$40, QUO. Docs he consider this the way
/ to pay dividends fairly. squarely and ho-
nestly." II lie does, admit, according to
his construction Of fairly, squarciy and
honestly" that We have not adopted b 5
plan.
While do not commit myself to any po,
licy not dictated to me by the STOCKHOLDERS
Of this Company, am satisfied that with
the assets aud diyidends..of the N. q. IL. Il.
/ Go. could finish the North Western n.
G. II. IL. or the Western n. q. X. X. in
three years. which would, when finished,
add greatly TO the income Of the N. G. *.
X. Company, aud at the same time give I'M
told value 10 the lands 1T Western North
! Carolina, aud sii out let 10 millions worth
Of her products now locked up for want Of
Bail Road transportation.
The only way. in my humble judgment,
! 10 consummato the great design VI the poo
pie II Western North Carolina, is for her
members uf the Legislature aud her leading
and public spirited men, not 10 listen to the
croakings Of men who are always saying
'.wc cannot finish this, and it is impossible
to do that" but put their shoulders TO the
wheel, and say By the eternal VIC can aud
VIC viii DO II. = is'a
Respectfully.
/ w. A. SMITH,
President N. q. II. X. Co.
/ We certify that the facts aud figures Of
the above financial statement werc taken
from the books Of this Company and are