The weekly Floridian. [volume] (Tallahassee, Fla.) 1867-19??, 1882-09-05

for some years they are really the grOss
saiea So dealing with it We see that in
these twelve years, there were realized
$27s,4Ss.95. Out Of such Of this amount
a. was received in cash abs'ut $4,000
were from 1878 to 1881 drawn out and
applied TO pay the allowance 70 Mr.. VOse
for expenses and attorneys fees.
So then up to 1881, there had, in fact,
been received by the Trustees and Master
during said twelve years only e22S, ,4S6.95
applicable to interest. Dividing t223,-
1895 by the number of years (twelve).
we have sales averaging about 4ls,6I9.ol
per annum. 1t has been shown that the
annual interest accruing in each Of these
years was $50,552, to say nothing Of in
terest thereon or the coupons maturing
prior to 1859. whether belonging 70 can
celled or to outstanding bonds and interest
on them. In other words, while in twelve
years, to say nothing of such lnatured
coupons antedsting 1859, or interest upon
interest, we see that the amount of inter-
est accommodating in these twelve years
was $6O6, 1924, to pay which the sales of
lands had in same time furnished only
t22S, ,4ss.95, leaving deficiency of $685.
185.05.
THE INTEREST DEBT.
It was prior to the commencement Of
actual payment of the interest debt out
of the proceeds of this Disston sale, very
difficult, if not almost impossible, to as
certain the real amount of such interest
Indebtedness. Uppn@ the best data that
could be had in 1879, Governor Drew, in
a message to the Legislature, estimated
it at about s65O,OO0 A committee of
the Legislature of 1881 took the matter
in hand and went to Jacksonville to con-
fer with the Master, and reported it to
be $6Oe, ,074.sl.
1t is a fact, however, that a large num-
Der of coupons had not then been even
filed with the Master which have since
been adjudged to be legal claims. Tue
prospect of payment caused holders who
had before preferred to wait and hope
for pay, to then come forward with their
coupons. The payments actually made
are the best and only reliable test, and
show how erroneous prior estimates were.
1t is fact that there has been paid by
the present Board of Trustees interest
indebtedness to the amount of Sl,27O,-
6l828. There has been collected on the
decree of the Trustees in the Schultz case
T. e. the decree Of May 3lst. 1879, the
sum of $7I4, 4,lO27s Ofthis sum $3O5, $50
has been applied to taking up $3O5, $50,
principal of p. d q. bonds. Reserving
from the balance of the $7l4, ,lO2.7s, after
deducting 1906, $50, the sum of %, $50 to
meet the principal of p. & G. bonds held
by private parties and not involved in
litigation, the fund has received from
the payment oil &7I4,lO2.7s the sum of
$39e, ,202.7S to aid in meeting the interest
the Board has paid since May, 1881. De
Quoting this sum of $39s, ,2O2.7s from the
total amount paid on interest account to-
wit: &l.27O,6ls.28, we see that the lands
have had to provide funds for paying $s72,-
4l5.5O of interest, and they have actually
provided it.
There ia included in the above payment
some interest on Tallahassee Railroad
Bonds. Nothing has yet been received
by the Trustees on that part of ~;
Schultz decree covering the Tallahassee
Railroad l. e., the road from Tallahassee
to St. Marks, and applicable to the pay
ment of Tallahassee Bonds and coupons.
1t is to be paid this month. In addition
to what Tallahassee R. r. interest has been
paid, there is still outstanding an amount
of coupons, and interest on matured Tsll4-
hassee bonds (not yet presented) which
with what has been paid, will exceed that
part of the amount to be received on said
decree applicable to interest to-wit: s4s,-
57s. I6, by 81, ,6e5 "a This sum of s37,-
695.84 then is to br added to the es72,-
1850 and so the is sum of as, ,s23 of
other coupons already adjudicated, which
sums show that as of this date the amount
of interest paid aud actually due, to
be paid out of the proceeds of land
over and above the railroad money
applicable to interest, is 4959, ,934.34.
SUMMARY.
Amount received On P. a g.
PAID G principal RI I ?. Z !. bonds ssoA0soOo
Reserved 10 pay P. g. bonds
mos presented s'seooo- Sa.sooo
Balance applicable interest. ..---. sSsz027s
The amount Of interest paid BY present Tns-
tees IL staed above 81 -
Dednct amount received from rsilrOad-.-. 5ozTs
Leaving amount paad from lands Ssz1Sls.so
Add for coupons adjndicAtsd.
Add for sxces: over T.iiai s.sss
railroad Interest --------------- T,sehIs4- U.alAsA
Leaving amount paid and adjudicats1 % Be
paid rom Anos 9soS.s54-s4
There are in the hands of Nh. Dogget
as Master in the case Of Z. c. Anderson
and others, in the o. s. Court, tl03, 900
honda towif. Aog S00 p 4 q hon1a