Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1881-01-06

reuetiu anu Cblcel DOnub 10 lne amount OF
one hundred and six thousand dollars
CSlO6,UO as follows
Bonds redeemed and Cancelled january
1, 1851. $50 OOJ.OO
Il inds redeemed and cancelled July l.,
loS1.... .......... ...-...: 3u,UU0 OO
Call for Bonds made for January /,
1881 ,......................... n,OevO0
Total amount Of bonds redeemed ..... 1000 w
Total state Debt January, lsI9..u.... 9I5,Nb0 40
Total amount Of stete Debt lnuary
1851 ...,....... .... ............- ssG9. 5000
1t will he observed that give myself credit
for having redeemed less number OF bonds
than / have called, which seeming discrep-
nncy grows out Of the fact that whom We first
began to redeem bonds, the then Treasurer
bought them in tho market, Of corporations
or Of individuals, az best he could, promiscu-
ously, without regard to their numerical
order. Consequently, in now calling for
bonds under the plan which provides for
calling them in their order as to number, we
come i'll contact with these promiscuous num-
bers. For instance, Within my present call
for forty-five one thousand dollar bonds there
are four already redeemed, cancelled and
pasted, Rs is provided for by an act of the
General Assembly. / mention this merely to
avoid confusion.
Az an Offset against our present indebted
moss, the State has semi-annual interest bear
ing Investments for the the General Fund, Ne
follows;
Mortgage GU function q Breakwater
rhllrDhh. $50. iOO, mo 10
Nor gage on Breakwaer & Frankford 10000 100
2'5 shares Farmers Bank stock at $50 g. $50 40
~ shares Natl Bank Delaware at $4b5. 100000
The State has also Investments for the bene
lit Of free schools, NJ follows
5000 shares Farmers Bank stock at $50 $50, 900 90
Loan to r., w. h b. Railroad Co. -. $4,000 90
Loan TO Suss x cOunty ............... 0HO On
, i39 shares fBrmers' Bank stock ats5O l2l $50 90
ia shares Smyrna Bank nj S50....... $500 ~
81 Nat'l Bank II Delaware, at 1895 -. II 9U5 w
254 slares Union Natl. Bank, at s36 :. g,l44OU
Invested In Delaware Stale bonds. 5000 %
Balance IN hand, which %as received
from New Castle Wilmington X X. 2200g 90
Total investments January. 1881 81, l22 U4g 20
Total debt, January, 1881 ............ S69 900 ~
Assets In excess of Indebtedness. s253Uis.U0
Thus it will be seen that our assets are
greater than our indebtedness, and that il our
total debt was deducted from orr total assets
II would leave our assets in excess of our debt
two hundred and tifty-three thousand and
forty-nine dollars (S253, 0490Ol, with pros.
pective receipts due January l. 1881, az
follows;
Interest on BreakwaterS FranktordR r s3s $50 &C
Interest on Junction h Breakwatcr R,R lk,OuO.OO
The General Fund ,.........,........ 2Olg is
Interest on Investments for tine feht oil
ochnOl FUND .-.-.....-......... l3.4Gg.9I
Tax on bank Hhares. ................... $3.50 ~
Tax on net earnings of railroads and
csptatOn Observation-Disclosures. 5000 20
Total amount of prospective receipts,
January l, 1881 NEUTRALITY-SUSPICIOUS., SII,10 10
All the railroad companies have been
prompt i'll the payment of their dues, with
the exception of the Breakwater & Frankfort
which company, however, has promptly COM
Piled with the requirements OF joint reso-
luton adopted at the last session of the GEN
eral Assembly but regret to inform your
Excellency that four National banks have
refused to pay their state tax on shares.
regret it. not on account of the small amount
withheld from the State, but that such
corporations can rest contested and refuse to
help support the power that protects them :
for il should be remembered that our courts
are alike open to all persons. whether natural
or artificial, for the yindication of their
rights. The four banks, above referred to,
are the First National Bank of Wilmington
the National Bank OF Delaware, the Union
National Bank Of Wilmington, and the
National Bank of Wilmington and Brandy
wine. These banks, in the month of July
last. informed me of their refusal to paw
their State tax on shares, and at the same
time expressed Willingness to confer with
my attorney III the matter. Whereupon / at
once forwarded to the Attorney General with
his permission, said refusals. and asked him
to instruct me in the matter at his earliest
convenience, which instruction. however.
did not receive until the 18th instant, and not
being prepared in the meantime to admit or
deny the Justice of the ground upon which
such refusal ia based | did not proceed
against these banks rs the law directs. The
reason assigned for refusing to pay
the taxes assessed on said banks is,
that the law that imposes them is in
conflict with United States statue In view
of the fact that the Legislature has always
manifested Willingness to listen to the al
legged grievances of the most humble citizen
and provide ample redress for the same, !
thought these banks should have borne their
burden until the meeting of that honorable
body. The opinion of the Attorney General
in relation to the matter il herewith submit
ted, in which dunbt n TO
the tenability of the General Assembly is so
close at hand, deem it my duty to lay The
whole matter before that honorable body for
instruction.
The receipts of this department since Jan
uary ~. 1880. the date OF my settlement with
the Legislative committee, under the various
acts to raise revenue, and from all other
sources, belonging to the General fund, have
amounted to the sum of one hundred and
twenty-five thousand nino hundred and sew
enty-four dollars and tifty-seyen cents (SI2l,-
974. 50l, as follows
Frrm the CLERK of the Peace New
Ctstle county. for licenses iFsued (rss
alnunnt belonging TO the School Funds 10, 1851. i;
Fioul the CLERK of The Peace Kent
county, for licenses irsu Cess School
From lie Clerk Of the Peace for siseas
county, tor licenses issued t"-s 4..
Schu0 Fund. ..,..,... .......... Gl4S.6l
From Comfy Treasurer, New Castle
cnnniy.... ................... 24s.Oo
From County Treasurer, Kent county. 2a'.ss
frum unnty Treasurer. Su-seY county 9,las.|
From tag on Net irnings II r iilroads 90 $4,000
Frum tex on Passengers on Railroads. l3647.6i
Dividends from Banks e. .............. 302T.O0
Tax TN Bank shares -............. aijs.07
Fiur- and Forfeiture (bLher than school
Fnnl...... OBSERVATION-DISCLOSURES. ll2.00
Breakwl,eI railroad 800, So. 100000
Interest on Mortgage from Drsakwater
Il Frankford railToad .,..,...... G.oao.oo
THS from Fire Insurance Companies
(other than School Fnud). ........ D.. 800.
COPPER of Revised Code, and 18th Vol
nme Delaware Laws sold by Pruthon-
otary OF New Gaelic county.......... 2l4.
Process Tax from Registers and Rc-
So reisry Of State Tor Fees toiher than ''''
SCHOOL Fund. northumberland. assT5
Total amount of receipts Recommendations
There has been disbursed from the General
Fund, since January 22d, 1880, the date of my
settlement with the Legislative Committee,
to pay interest on the public debt. to redeem
bonds, and TO pay the necessary expense OF
the State government, the sum Of eishty-two
thousand seven hundred and sixty-nine dol
lars and sixty-two cents (ss2 as
follows
Executive. .......... ...................s 100000
Judiciary Observation-Disclosures. lo.2T5O0
Salaries OF other State otfcere. :. ..-... 56sT5O
Rcpenishlug Library l5n00
Bonds redeemed ....... ............... 3OUO0. 90
Interest State debt .......... ~, $40. 90
Allowances by Legislature and Its Com
IN
Printing ACKNOWLEDGEMENTS. I77.09
Commissions to Attorney General ......, 100 %
Advertising calls for bonds ............. 14l.2i
| Interest on AS 00n held by the State for
The eueht of Free s. hools ........... 90
| Interest on Delaware Agricultural Col
| Board OF Health ......... .............. 50 81
| Encouragement Of Sugar Beet Culture. 10000
| 100 copies Houston's Report OF Criminal
Oasef.. OBSERVATION-DISCLOSURES. sOu-Ol
Total amount of disbursements..... $50, 5000
The amount received for the benefit of free
schools, up to August last, or at the time of
the distribution, was thirty-one thousand
/ gavap hupdra1 aud fhirfv.aiy dnllars md