Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1871-01-27

Dulld ra4TOaU. YET even with the
liberal assistance Of our philanthropic
patron, Mr.. Small. Besides, fellow-citi-
zens, are we prepared for the horde of
hungry consumers, the swindling bum
mers and petty plunderers railroad COZ
struction would toll into the country. We
are already overburdended with non-pro-
producers what We want Is not railroads
and foreign luxuries, but laborers and big
provision crops Which shall We have p
As to the gentieman's thrilling me0ories
of revolutionary and Secession times, they
remind us of Coleridge's chimerieal
STATELY pleasure domes
| OF KublRi Khan"
To particularize, in regard to the heart
rending episode of the ''stumped big
toe" however, doubtless such an incident
might have occurred in the history of his
grandfather, and might possibly have
taken place in the vicinity of Ransom's
mill, but we have heard it broadly limited
that it was stumped in running away from
the fight, and that not in their company.
| We don't deny the gentleman's secession
proclivties We have heard great deal
about them, especially that they were SO
notorious during the late war that he
"took TO the bushes" about the time of
the surrender for fear of being apprehend-
ed as leader of the rebellion.
AS an amendment to the gentlemans
proposition l move that we let the rail
road alone for the present, and let him
| carry it through altogether by himself;
and he can then enjoy all the glory, ell the
"notoriety," and be President without OPP
position.
What do you think. Messrs. Editors,
that mans move was carried +; carried
unanimously. and with applause thus
give it publication that L may historicize
another instance of the ingratitude of Re
publics. Aristodes was exiled and The
mistocles banished, SO that political ostra-
/ cism which has resulted from my effort to
build up my native place is only a devel-
opment of old principles. fresh proof of
the fckleness of popular favor.
/ have, sirs, the honor to be, very re-
specially your obedient servant,
WAsHINGroN JEFFERSON SMALL.
n. B.-The Fayetteville Eagle and
| Wadesboro' AryuS please copy.
A Card.
, Hon. josiah Turner, Jr., Editor of the
Sentinel uses the following language in an
editorial of 10Th January, 1871
"Now the dividends declared by the
North Carolina Railroad have not been
fairly, squarely and honestly made. The
mortgage bonds of the Company have been
used, instead of money, to pay the indebt-
edness of the Company, while the earn
ings of the road We're applied to the divi-
dends inst cad OF the payment of debts"
Should / remain silent and not answer
this portion of Mr.. Turner's editorial it
might cause the credit OF the Company to
be damaged, and put the Directors of this
Company in false position.
[ will therefore proceed to make o state
ment of the number of bonds issued since
the commencement of my administration.
Amount Of bonds paid off and cancelled.
II I A L
not on the books and due before / took
control of the road, and the amount Of each
paid to the Trustee, Gov. Graham
The total amount of bonds issued by
| this Company since the beginning
OF my administration has been s 4C9,0Q0
$240, 900 of these bonds was issued to
pay the SCRIP DIVIDEND declared
| by the administration of the Hon.
Josiah Turner, Lr, then President
| Of the n. q. Il. Il. Co, Take the
| SAC, 900 issued to pay Mr.. Turner's
SCRIP DIVIDEND from the total
amount issued, which above
| 24O,e00
And it leaves. ................... 228, 900
The amount of Bonds bought and
| cancelled by this Company since
the commencement OF my admins
tration has bsen ............... 326 900 co
The amount of old debts paid by me
that was due by other administra-
tons, and not on the books, was 167. 49s OF
The amount OF cash paid to Gov. Ora
nam. Trustee. ................-. $1,000 90
Making the total amount paid during
my administration towards the debt
of the Company. :....... $40. 99s OF
Amount OF cash paid stockholders last
fiscal year ...................... 24O, 900 90
Amount of aah on hand ............. $50, 900 90
Making a grand total OF. ......... sac, 993 OF
| OF cash paid out for debts, dividends and on
hand, besides payin all expenses OF the road.
The public will see by this statement
that have paid $3.50, 900 of the debt Of
| the Company, and at the same time paid
the stockholders $24O, ZOO in cash divid
ends, and have at this time $150,O00 on
hand in cash /; and that have only issued
1928, 900 in bonds since my administra-
| ton except what were issued to pay the
scrip dividend declared by Mr.. Turner's
administration, amounting to $24O 900.
The amount of cash left in the Treasury
at the end Of Mr.. Turner's administration
was twenty thousand, ninety-four dollars
and fifty three cents. Not enough to pay
q debt of twenty-one thousand dollars due
by his administration to the Tredegar Iron
| Works for iron. Therefore, ii will be seen
that I have not paid debts out of the funds
left in the Treasury by Mr.. Turner.
The dividends declared by the Directors
of this Company have been, as this state
mept from the books of the Company will
show, fairly, squarely, and honestly
made" Hon. Josiah Turner's, Jr., say SO
to the contrary Notwithstanding.
| Should any bondholder, Stakeholder or
member of the Legislature, or Mr.. Turner
doubt this statement, the books of this
Company are at their service at all times
to satisfy themselves of the truth or falsity
of this statement.
But I may be mistaken in what Mr..
Turner means by making dividends 'fair-
! lv. sOuarelv and honestlvo He maid his
dividends in scrip convertible into bonds,
which increased the debt of the Company
$24O, 900. Does he consider this the way
to pay dividends fairly, squarely and
honestly 2" If he does 1 admit according
to his construction of ''fairly, squarely
and honestly" that we have not adopted
his plan.
While I do not commit myself to any
policy not dictated to me by the Stock
holders of this Company. L am satisfied
that with the assets and dividends of the
NJ O. r r Go could finish the North