The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1881-02-03
Pa oyerner's Message ON the SPeeihh
| seheOl Fund Loaned TO KALI
road Companies.


oyerasr's Message on the special
seheol Fund Loaned to Rail-
road Companies.
srArn oF TEXAS EXECUTIVE OFFICE.
January IL, 1881
To the Honorable the Senate and Heuse o
Repre sentatives, IN the Legislature AS
sembled
The subject TO which your attenti'n if
herein called, is the indebtedness from certaln
railroad companies to the pubic frSe school
Ifnd. arising upon the loan made by the
STATE from that find to said companies, under
the set ct August IL, 1856, ana 10 the oisssree-
ment existing between the oIlc,rs OF lhs st~ee
treasury and the Onicors of said companies IN
regaril 10 the amount oftaid Indebtedness, ana
especially to the actiea of the houston
Central Tetas railway copapSny, IN having.
ia led to continue to pay the interest on THIS
delhi claimed to be due upon the Indebtedness
of the Washington County railroad company,
navy consolidated with the said Houston
Central Texas railroad company.
on the 18th day of November, 1879, the
comptroller sent TO me the following lever
and statement of account, showing the STATE
II tho Indebtedness of said company, ana
the failure to pay the interest and sinking
fund on the ssn:e.
COMPTROLLER OFFICE.
AUSTIN, Nov II, 1879,
His Excellency, o. II Robsrts, Governor:
SIR-The Houston & Texas Central railway
p0mpanV having TAlleu 10 pay NlLulh Jtlo llilit
prescribed by act of August ID the interest and
Sinking fund due by them on accOuat OF the
Washington County rai'road, ! beg 10 hand
YOU herewith statement OF the account OF
washington County railway company, as IL
annears from the files ana records OF this de-
phrtment, for such action IA yon may Jesnl
advisable to be taken Very Respectfully,
STEPHEN II DARDEa,
Comptroller.
Washington county railway company n ac
count with the state of Texas;
/ certify the within to be a correct statement
of ihe account of the state of Texas against
the Washington County railway COMPANY as
npu Gears from the lilies and records OF this de-
Witness my hand and official zeal this slev-
enth day eft November, 1879
TL.s1 STRPH III. DARDEN, Comptroller
The reg son of this communication and state
| ment was the existence Of law, under which
| the ioan was made, requiring the governor
upon default OF the payment OF principal and
| in crest, IS required by the act, 10 advertise
| and sell the road for the payment thereof, and
| to hid in the road, If necessary, for tine state
ard in that event to appoint receiver TO lake
charge OF the road and manage IL, under the
direction of the governor, until otherwise dis
nosed OF by law. (Act Of August Is 1856; Pas
chsl's digest, articles S5oe, ply, 9oi >, 49,
| be for the interest of the state 10 advertise and
| sell said road AZ the time this communication
was made TO me by the comptroller, notliying
4 laws relating to the subject, AID the records
| and facts pertaining tolt :.
| Nv tue preceding statement OF account II
| Will be seen that the loan that was made In
June, ls 0, was S66, 900, and there was no sink
Ing fund nor interest paid on II after the pay
| msnt on gthe OH of June, 1850, until July ii
1864, when there was a payment OF interest," OF
est on tn 18th OF August 1864, of $3.50 80, both
of said payments being in Texas stats treasnts
warrants. They were made under the act Of thl
| legislature of the 2sth of May, 1864 (Pasehait
| Direst, articles 35l4-2j-26-27), which permitted
that cara pany, ard others that had received
such loans, 60 pay The interest IN state war
rguts and required the comptroller 10 receiY'
the same, unless upon satisfactory evidence
IL was shown TO him that said roads failed Of
refused 10 take said warrants TAT par FOL
freleht or passage, at the price or rates pre-
On the nth Of May, 1865, rs shown in said
statement there was paid in state treasury
\ i4-,sa4.s, prin ciN0l ss7 ,c65, ems interest," *
, I5Sat payment was made under the 900 % =,
18TH Of November, ls64, which authorized SAID
companies Ia pay The principal and i1terest Il
sta = warrants, upon satisfying the comptrol-
: Ia, that they 'saIe received by them at par
,giIh spee'e for freight and passenger travel .
Paschals Digest, articles 3,52s-0.l undel
both of said acts upon such payments pelni
male. the comptroller was required TO have
executed similar amounts OF six per cent
bonds for the school fund, which were duly IL
sdsd, and are sou IN me once OF tns conn
| ually executed by the Hpanies Tor SAID ioan
q. r. Johns was comptroller at the tint
I .hese payments were mae Ia state warrant.
, ! AID from the credit then given for them n
The books Of the Office u may be presumed
! bat he was satisfied that tbs terms AID con
III iSOus prescribed in the law had been com
plt.d with. The entries are Ia ledger u, pas
The statement shows said debt 70 he ON tn
lot DAY u May, 1866, principal s3l on, and in
d r.nfs constitute the matter In controversy. an
. Inc company claims that they should ba ~
= lowed and n allowed. that The payments oI On
interest that have been made as inst res. en.,e
nr test. Is sufficient % extinguish both IN
} infcro / and the principal oi the cebt OF %
Washington county railroad company III
ithorties In control of ,he state govern men
ir 20 acciined 10 recognize them rs valia pay
= IN ms, which - deducible frum The records Q
lhe cl,suntlOiler's Office after the Tc-organi11
. tisn q the state government in $50 q ~
+. mis- accouit . transferred from Ledger u
: foIrpr - and enfrics therein made. .parli
,rtiIe Hon. Morgan Hamilton was colnptrolle
md rarity while Hon. A. Bledsoe YES coup
iroler. IN which II appears that the emoun
- me principal Of the debt. AZ footed up q
LEDGER b, J. not chanfed, Dut j. SUI pui GOV
% al a37jDlsrIt was again transfelIen and ne
B -t,rnd during the time Hon. A. BledsOe Va
/, r.,npf-ollrr In Ledger - in which sisisssssii
he . 4 no amount q principal stated.
? mere was Indeed no re-charrs ~ the prln
~iral and interest, paid n trrasury ~ .,
I.of--r rufil " Was made when lon. = Al. Oar
rtsn becams cOmrfr0iler IN lSsf. when u va
d5-e as shown IN the nr-i statsinent ~ t-s ae
.auuf. which prts dnHh ne pftncipai % ~
. i - a narfi.l beer. % the lst day 81 Hay
1.-o sff1sll on NJ 1einz the uflrclral fnd n
: ta-,.f one ~ D. that time. ne Vlymtnis m 90
Z n rfsfs treasury wsrrsnfs. b1t1 ~ pfinclp e
- Interest. being txcIu1eds end tlat b-iul
rs rrr1urf clalr1e1 q be due By the comp
II, - =. rr1ur b. the rtrfu~nf - i1iere-
q ..-.l -inrfrg iced from y 1fcuf o-r y irif' =
----e~'DrrI /. re-. rhile Ior. A. f'ells7e VA
-.---.Ir.IIar Inls r. lcharra ~ tne Ir rc If
=. -nsfr a. ai11Fe slated. IN LEDGER p, f''H
- ne rnrHorr - r17ft-9 u frirc. o.
. i -. .IrfI l.ffri1nrT rnirr flIe law q Y
IN -..~-If. 1870. Ihfre a.. 18wfFfr. % r ID r.
I,.-~.-.r..In h1.nr. frunI o. a. roluT iFuI p 2
1Irra. with mt rnature e.. q rlIlos- % r
s-',I- -r-Ir n ffs lime thaf the ho1- a
l.Ia'I4ns US ecln TfIcIer- -.
'I'I-.'.- ~ r|'t1. f1rf f~1rr, er ai1 ~
80 -f~rfrirr .stl 1y M r'Il trn-'tI. p. y
4 rIaI.nr rI1r he Ert - ~ t+'-- -'-1- =
-. T...I rf auruFI .aI.II. E-lrl ~ 80 ! I
80 ~.17.f I'll r1IIru1d 60 ruaulil l1le1te@ =