The interior journal. [volume] (Stanford, Ky.) 1872-1881, 1879-01-17
~ RNPTEES
NulIfbep ST..
DEBTS


kept in good condition. Another road
is hopelessly ruined. It is loaded with
a debt Of $4,000, bearing 10 per
cent. interest for about 10 years. the
principal and interest Of which now
amounts to about $4,000. This road
is an important road, and rs far as now
appears. nothing can he done for it,
but from the toll to keep it in repair
for the public convenience.
But there is another kind Of debt
all turnpike Companies should avoid.
For repairs, they should contract no
debt, unless temporarily, and in some
emergency. a toll house may he
burnt down. or bridge washed away.
These must be rebuilt and Temporal
~ debt may be unavoidable. But for
ordinary expenses there should he no
debt. However much their road may
need repairs no Board should ever 60
beyond the amount Of iheir annual
tells. Their expenses should never
exceed their income.
DIVIDENDS.
Except the three roads which are
hopelessly in debt, and two short roads
which have but one toll gate, 1t il be-.
lieved that all the other roads can
keep themselves in good condition and
pay To their stockholders a small an.
nual dividend. One half Of these are
now dividend paying roads, and it Is
hoped that the other half will soon
reach the same point. II is true, that
neither the county nor individuals ex.
pect much direct income from these
investments. but yet, since experience
has shown that these roads can be
maintained in good condition and pay
a small dividend, it i the duty Of all
the Boards Of Directors TO manage the
trust Ia their hands so a. 10 secure
this end. II has sometimes happened
that some Of the Boards have taken
this matter quite easily. They have
not expected to pay any dividend
they have collected the tolls loosely,
and spent them equally loosely, and
when a man has grumbled that he has
paid full toll and has 10 travel over a
mean road, the answer has been that
all the tolls have been spent on the
road and they will not keep il in good
condition. The very purpose and of.
fort to reach and maintain the diyi.
dend paying position would have a
good effect. The Boards could be
more careful to collect all legitimate
tolls, and moro careill IN their expen.
diturc. The roads conld he in better
condition and all toll payers would he
better satisfied.
As public improvements, these
turnpikcs are of great Importance and
value to the county. The county has
Appropriated to them a large sum Of
money, and it the desire OF securing
Ia the county from them an annual
income Of 81 600 which would be in
round numbers 81 ON the share Of
stock, or two per cent. cannot be
reached, still they ought to he well
kept and well guarded, 50 as to per
petuate their advantages from genera
ton to generation.
REPORTS AND UNIFORMITY OF TOLLS
by an act of the Legislature, all
Turnpike Companies are required Il
make to the County Court an annual
report of their receipts AMI disburse
ments-of the fnan,ial condition, &c
This is exactly right. 1t should al
ways have been done. The County
Courts which appropriated money Il
aid in the construction of said roads
should always have required such re
ports from them.
. BY the same act, uniformity o
tolls was established throughout tn,
State, and a penalty was annexed 0
$40 upon every toll gate keeper wh'
violates this law in collecting highe
, tolls than are allowed By this act, and
upon all the Turnpike Companies WIFI
allow of this violation the like penal
2 ~ of so.
This uniformity Of tolls probably
bears hard upon some counties, for tn
reason that the construction Of thei
roads has cost much more than il
other counties, both from the chanc
ter Of the necessary grading, and th
scarcity and distance of the stone an'
gravel. Ia this county the stone an'
gravel are abundant, aud general!
convenient, and the reduction ia Ger
tain items If toll should be readil
submitted 10. There is no necessit,
to unite with the late Convention 0
Turnpike Presidents in Lexington, /
crusade against this law on IN
ground of It's urconslituiionality.
The reports required to be made ;
o the County Court should he befor
the Court Of Levy in October, so tina