The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1878-02-27
Miss issippi Legislature
fcoNrINUED FROM FIRST PAGE.l

the committee. From that report the original
cost of the road, without estimating value OF
lands, town lots, etc., was Sic, TO o0 81 Ihis
includes branch 8, rolling stock and all other
property except lands and town lots. refer
particularly to schedule IL of said report
From Information and belief would state
that the cost of the road within the Stare OF
Mi sissippi at it's completion in 1861, exclu-
ding the branches, and including the proper
ton of rolling stock belonging to that portion
of the road to - have been at that date
as near can be ascertained. thirty thousand
dollars per mile. The road bed, superstruct-
u-e and permanent works, up 10 the compile
ton in 1861 cost about twenty-five. to twenty
six thousand dollars per mile There are az
miles of the main line In Misslssip-
p. The road has never paid any div
| idend. The only profit of the road we can
| estimate is that earned since the war. The
! cost of constructing was represented, TO the
/ best of my knowledge b. first and second
mortgage bonds and by stock and subscrip-
| tons. The first mortgage bore TX per cent
| interest; the second, eight per cent. interest
| The first mortgage bonds were originally rep
| resented by income bonds bearing eight per
cent. interest. No interest was ever paid on
/ these bonds, to the best of my knowledge, ill
/ lS70-then it was paid for 1870, 1871 1917 and
/ 1878; they bore six per cent. in crest, ana
! the interest was paid in abO It SS,OOO,OOO al
| together includ ing coupons of interest funded.
The interest the second mortgage bonds
were only paid for very short period L
cannot state how long There were about
| 81 600 O00 The interest on the second mort
! gage bonds paid in 1873 Taking the
| whole fl st mortgages belonging to Misslss P
| pi it would be about S3,G0,00U TO which has
| TO be added the funded interest from issuance
| to 1870. The proportion of the second mort
| gage bonds would 4 about 81 900 900.
| | cannot give the gross or net earning for
any year previous to 1865. | urnish yoH
| with a statement of the gross earnings and
| expenses of operation and maintaining of
| that portion OF the road in Misslss ppi, the
| road for all the years, and since 1860. As TO
| r, far faaa
! they represent the earnings of that portion of
/ the road in this State; whore that is not
| feasible they are taken from estimate of
| the whole earnings of the whole road divided
into the number of miles in this State. can
/ say positively that that portion of the road In
this State has never paid per cent. interest
| upon its cost The road paid no interest up 10
| 1870 it then paid several years interest as
| above stated In 1874 it found itself with
floating debt of 81, 500 600 partially represent
| ed by coupons which il C aimed to have paid.
| The road never did pay enough to pay inter
! est on its bonds. The amount reailz d from
! sale of lands obliged to go to the payment
ofthe bonds The nett earnings of 1876 u as
/ shown by the report furnished Is the largest
| amount of earnings ever made by the road. ex-
| cept possibly the year -, when the books
would show about the same earnings. The
| proportion of this largest nett earnings for
! that portion of the road in Mississippi would
| pay about per cent. of in crest on the cost of
| such portion.
By the report of the Masters of the United
| States Courts the number of acres of land be-
longing to the company in 1877, was $4,000
| acres.
Sworn to and subscribed before me this Sth
day of February 1878.
w BUTLER DUNCAN,
President NJ. & O. r. r.
| JNo. W. Jewell, Chairman.
By MrBrowp. To reduce the official bond
of Circuit Clerk of Clarke county. Passed
Mr.. Reid OF Coahoma, called up IL. b.
amending the school law, approved April
| II, 1876, so far as relates to Coahoma coun-
ty. Bolivar county was added Passed.
Mr.. Reid of Coahoma, called up II. b. to
authorize the building of dam across
Yazoo Pass, and the bill passed.
Be Mr.. Miller of Copah. 10 authorize
the Supervisors of Copiah county tn pub
lish their D. oceedinSs. Passed.
BY Mr. Miller OF Copiah. For relief of
l.. j. Miller. Passed.
Mr.. Miller called mp II. B. to provide for
tax sales and the return of the delinquent
list by the Tax Collector of Copiah county,
for The year 1873. Mr.. Street moved TO
table Carried
the Mobile and New Orleans Railroad to
fence their track in certain parts of Jack
son county. Passed.
BY Mr.. Farley. fl. B to authorize the
Board of Supervisors OF Covirgton county
to compromise certain judgment. Re
ferred.
By Mr.. Farley. H. B. to change the
name OF H. A. ID. MrNare, and for other
purposes. Lald on the table.
By Mr.. David-on. II B. tor the relief OF
Mrs. Kate Gregan. Referred.
By Mr.. Davidson. Ii. b. to incorporate
the Seloam Co Operative Association.
Passed.
By Mr. Davidson f. B. to incorporate
Company Referred.
S. b. to repeal act to prohibit the sale
of spirituoas liquors in the town of Her
nando. was called up on motion of Mr.. |
Wall, and passed.
By Mr.. Seal. Ii. B. to compel the New
Orleaus Mobile and Texas Railroad to |
fence their track in Hancock county. Re-
TERED to a special committee-Messrs. Seal |
By Mr.. Seal. Fl. B. TO make Grand Plain |
Bayou and Poplar Branch navigable.
Passed.
BY Mr.. Ramsey. H. B. to authorize the |
Board of Supervisors OF Harrison county 20
have rebound certain Deed and Index
Books. Passed.
By Mr.. Carter. II B, to authorize DR..
Geo. Williams, of Holmes county, and |
others to erect a toll bridge and turnpike,
and op II bridges across Big Black, and for
other purposes. Passed.
Mr. Carter called up II. B. to incorporate
the town of Goodman. Passed.
By Mr.. Gwin. H. B. to authorize the
vcstry of the CALVARY Episcopal Church to
sell cert in property. Passed.
By Mr.. Pintard. II. B. to regulate the
salary OF the Superinten ent of Education
in Jefferson county. PaSoe
On mption of Mr.. Pintard Fl. 3. to pro-
vide for the payment OF salary to the Clerk
of the Board of Supervisors of jefferson
county instead of fees, was called up ant
passed.
On motion of Mr.. Spinks. Fl. B. for the
relief of +. G.. Sinclair, of Kemper county, |
was called up and substitute for the bill
pas ed.
By Mr.. Showers. Ii. B. to exempt from
taxation public grounds and buildings be-
longing to the United States within this
State. Amended and passed.
On motion of Mrs. Whitaker S. B. to
change the corporate name and style of the
Peoples Savings Bank of Meridian, was
called up and passed.
H. Is. to authorize the Board of Supervis-
ors of Lie aud Bolivar counties to have
their proceedings published, was called up
and senate amendments concurred in.
Mr.. Hayle presented the petition of May
field Reese and Others. which was referred
BY Mr. Field. II. B. to Incorporate the
Mississippi and Alabama Warehouse and
Compress Company, at Column bus, Miss.
Passed.
BY Mr.. Field. H.. B. to change the 18th
Senatorial District into two Districts.
Passed.
H. B. to incorporate Minter City,.was
called from the hands of the committee, and
passed
Fl. B. to authorize the District Attorney
20 compromise with the sureties of B. L.
was amended aud PASSED.
By Mr. Montgomery OF Marshall H. b.
% reduce the official bonds of the Mayor
md Constable of the town ofCornersvilIe in
Marshall county. Passed.
On motion, II B. for the benefit of COM
non schools OF Holly Springs, was called !
rom the committee, amended and passed. !
b. TO authorize the Board of SuperVis-
lrs of Marshall county to bring up the alb
tract of titles of real estate. was called up I
~ Mr.. Warren, and passed.
By Mr.. Cunningham of Monroe. HI. B. to !
authorize the Board of Supervisors OF Mon
oe county to publish their proceedings. ,
neuded and naSSad