The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-02-06

The SterunG O0n0S OF tue Loutssihei OuStn
natl and Charleston Railroad Company, bear
ING FIVE per cent. interest, and amounting 10
$1,000, have been exchanges Tor s4O,O0o In
bonds of the South Carolina Railroad, seven
per cent, first mortgage, and are still held oy
me as receiver.
From personal bonds and bills dis
counted, have received, IN cur 49,, ~
And In notes of the bank. 1922 90
From interest on bonds and divi-
dends on stocks, have received. 2S,495 w
There Is due and unpaid interest on
Sl2l,3OO of State of South Carolina
stock, from lst July, 1867, t lst' ,o- ~
January. 1870. 1870 w
have paid, BY order Of Judge Car
penter, for expenses OF litigation
in the suit of Dabney, Morgan d
Ty3i rendered red the bank .............. ll,525 Is
Aud have paid, oy order OF Judge
Graham, to the solicitors i'll said
suit, and for other expenses OF - nm ..
litigation. ................ iA,Vlo ~
Under order of court, OF June I'd;
1870, paid Hayno & Son and James
B. Campbell, to be charged in the
settlement with Barring Brothers q
Co., as on account Of the sum to
which the fire loan bondholder5
NAV be entitled under the final de-
cree In the cause. lu,oVo w
Paid bond for purchase of property
from estate of T. Ryan, by order
OF court, 18th June. 1870. 3,277 0o
The loans are as follows:
Under order OF tine court, dated 10Th
June, 1870, l loaned to j. B. Camp
bell, on pledge of one thousand
shares OF the Savannah and
Charleston Railroad Company as
collateral security, and also the
pledge of ten thousand dollars of
his interest in the fund for fees, as
one OF the solicitors in the cause. SO,0O0 w
Appended to the said order of court. auLho-
rizing the above loan, is certificate from Fl.
nah and Charleston Railroad stock Is perfect
ly sale collateral at twenty-five dollars per
share. Mr.. DeLeon has. taken 1t as high as
thirty dollars, as collateral. 1t has steadily
advanced in price since March, 1869. ana all
the chances are In favor OF further advance
in price. 1--WE see no cause for decline, as
the road Is doinga good business, Win pros
poets of great increase"
The following order of court was thereupon
entered on 1st July, 1870:
''Willlam G. Courtney, receiver, Is hereby
authorized to loan, pending the appeal O sne
Savannah and Charleston Railroad Company,
PAYABLE on demand for distribution, twenty
thousand dollars from the money now Idle In his
hands, at lawful interest; the payment TO be Sc
cured by deposit, as collateral thereto, OF nrst
mortgage seven per cent. bonds OF said COM
pany. at the rate OF ninety per cent. of their
present market value. This ten per cent.
margin to be kept good, In case Of decline In
market value, BY. a deposit OF more bonds, or
by u reduction of the debt. The receiver is
further authorized to deposit remainder Of sold
money with Messrs. James Adger i Co., upon
security satfactory to the. receiver, to bear IN
terest In like manner, and payable on demand
for distribution"
In accordance With this order, loaned to
the Savannah and Charleston Railroai Com
pany, secured BY S28, 800 first mortgage seven
per cent. bonds, the sum o. $40, 600.
And deposited with James Adger&
Co., secured by undoubted Golate-
rails, payable on demand for dlstrl- ..,,o
And Sat1Gaij with the Bank OF Charleston, '''
amply secured upon same terms. 10000
The sales of %foperty and. stock above
mentioned were deemed judicious at the
time, and subsequent events have proved
them highly advantageous. The proceeds
have, in. no instance, been loaned. except
under order of court, and en- collaterals which
were and still are amply sufficient TO cover
the loans, while the interest amounts to much
more than the income from the property
sold.
BILLS READ.
A bill to amend IAN act to incorporate the
Enterprise Railroad Company, OF Charleston,
8. c." approved March l, 1870, was read
second time and engrossed.f
The bill to regulate the granting OF divorces
was taken up and made the special order Tor
Wednesday.
By Mr.. Cardozo: "a bill to provide for the
government Of the South Carolina Institution
for the education Of the deafand dumb and the
blind" and "A joint resolution to make an ap-
nr0DriafiOn for the IJlnaIlc Asylnm.
By Mr.. Nash: "A bill to incorporate the Co,
lumbia Street Railway Company" and "a bill
10 incorporate the Hampton Chemical anu
Soap Company"
Mr.. hurley has purchased the exclusive
right to manufacture the Hampton Chemical
Soap in North Carolina and parts Of this State.
coMYrTTEE REPORTS.
Tho report of the committee to Investigate
the sheged penltentiary wood swlndle, came
up for discussion. The report eXonerates the
superintendent from any blemlsh. After con-
siderable debate between Messrs. Hayne,
Swails, Nash and Leslie. the ayes and nays
were called on the report, which was adopted,
Leslie beng the only one voting against 1t.
The committee on the judiciary made a
favorable report Oh the bill 10 authorize clerks
of Courts OF Common Pleas to take testimony
In certain c;ses, and tor other purposes.
NOTICE OF BILLS.
Levy gave notice of bill to establish the
Charleston Charitable Association for the be-
nefit of the free school fund for the State Of
South Carolina.
Mr. Mobley gave notice of a bill to repeal an
act to provide for the appointment OF land
commissioner and to define his powers and
duties, and for ether pnrp ,ses.
Mr.. Moore introduced a joint resolution pro-
vlding for the free transportation of State stu
dents in State institutions over all railroads in
the State to and from their homes. Read q
first time.
RECEIVED FROM THE SENATE.
The following bills were received by the
House from the Senate and read 8 first time:
A bill 10 amend The charter OF the German
Evangelical Lutheran Church, OF Charleston.
A bill TO amend an act entitled IAN act TO
regulate the agencies of insurance companies
not Incorporated in the State Of South Caro-
lima.
GOV RNoR's RECEPTION.
The Governors reception on Thursday even
ing was very largely attended, and proved TO
be very pleasant affair.",
THE IMPENDING CONTEST.
1t Is generally conceded by the members Of
the Generally Assembly (at least by those who
know that the impending contest, to carry
through The various railroad schemes, will be
u Hx.rn ,k.I NI,