The state chronicle. [volume] (Raleigh, N.C.) 1883-1893, 1886-08-06
PRESIDENT BRlAN'S REPORT.
REVIEW I'D ny Tuf fpItnu et
THE WINSTON IRtl FRi>s
\ Difference OF a. .o-I.>- ttstu e, "a th,
Report at the President aud IFV a>utvr
OF the ompans SHOW A.


upon She Adjournment ~ d., ~tae.
meeting. solely utvAust al. tay Ht
were not as ha- tvca tac .astua.
fore published a. that Ilulv The u. .tl
81 the Road Master va. mos Stttrs ta sat
pAbl.c uut.i tho middle of JuA INV lctr
t'rre> says that thss report ou-ht ta asNg
btoh submitted 10 the ~tooA AhuiAwr- at heir
annual mcctli4y, instead ot waiting .ir.tt. II
a month after The meeting iater rah.s-E
ing il
The CHRoNiclE published thy uf4..nal
criticisms made on The maua.-, meat ot tbc
\ X y. {. X l.. and endorsed the y. .I-1
oi the free Press III calling puhlic Uiou
tou 10 any mistake, iu the uAuAgtuolt
Of this piece Of state propcrt, N.uos NJ
Bryan made what was called .'AIlc excellent
and satisfactory exhibit To tho ~to.AHol
ders' and certain papcrs have h,ru .ut rf
accounts OF the great improvement made
in The road, the increase OF hu- moss, a.
DC, We have waited TO sc, lt thr frs.
Press could sustain itself .u th,. .,ilAr,,, 81
had made, VIZ that undcr a.. present .,d
mlnlstratlou thcr, has been dc,rca-, lu
the business OF the road and that lo-,
money has been expended IN repairs. ~.
10y Mr.. Bryan than by his predecessor
We copy, from three ColHmn rev lew
which the Free Press publshc, some "A
stated by that paper are true
Increased the Debt
To those who have heard So much uf
the improved condition of The road uu
der the magic touch Of the present admin
lstration 1t may sound strange 10 hear hat
AT the last stockholders meeting, provision
WAS made for increasing the debt uf lhIs
over burdened road nearly one hundred
thousand dollars
The bonded debt of tile road L already
1896 900, and the judgment debt S3t .O1 4
making total of S22IU2i The stoCA
holders voted empowering the Directors
10 borrow 1925, 000, with which to p.N u0
the debts and TO improve the road bvd.
rolling stock, etc. They expect TO gct this
money at a lower rate Of interest than the
road now pays per cent. This j. rlght
SO far the money the road owes is CON
cerned. They ought 10 get the money at
a lower rate Of interest than they uow
pay. Why is II, though that the road that
has improved immcasurably needs 10
have a new debt Of sos, 900 incurred when
it is already making such rapid strdeaf
The reason is simply this The ROAD HAS
BEEN ALLOWED TO RUN DOWN. The effort
OF the present admnlst ration has been To
show smaller amount of money cxpcnd
ed than was the case last year. The oh
Ject has been to have "A balance on hand AT
the close of the year regardless of the con
dition of the road 1t has been the policy
of this administration to saye(D all the
money possible, even If the condition Of
the road was such at the end of the year rs
to require the expenditure of S9s, 900 10
keep the road up The object has been 10
show all the earnings IN money instead Of
eXpeudng it upon the road as former al
miniStratlOnS did
4 Difference in Reports.
Mr.. Bryan Say. rlat there was All accrued
debt Of SO. .947.92 on the road whom hc
was called from the "PrOAy Pyramid tp
redeem the sold Mullct road from utter
annihilation and destruction There Was
only S91l9l On hand when be- took charge
Of the road, he says. Let lis look at the
report Of the finance committee his own
committee What do wc find thcrcl
We find that according 10 the report Of
the finance committee, he pald only s.,
916. % due by the prevlou, administrations
Notwithstanding the fact as he claims that
the deht of s26, ,941.92 has been pad in
full. When and to whom was il paid.
pray tell, if the finance committee, whose
duty it is to look over all the business Of
the road, does not know when the balance
$17, 81 was paid
Not being able to ascertain when or TO
whom the seventeen and odd thousand
dollars was paid, the editor of the Free
Press addressed a respectful letter to Mr.
Bryan, stating that he had found this dis
crepancy between his report and that Of
the finance committee and asked him two
questions: lst. TO whom the s17,9s1 =.
was paid; and End. Why il was not enter
ed on the report of the treasurer Inas-
much as Mr.. Bryan is State officer and
his actions are renewable by the people it
was his duty to answer these questions
The Free Press, commenting on his refusal
to reply to these respectful inquiries, says:
Not receiving any reply 10 the above
Mr.. BRYAN DOES Not SEE FIT TO COBRECT
SUCH A SMALL ERROR may reasonably
conclude that the boasted floating debt
has not been paid in full If IT had been
there would be Il record Of the same on the
report Of the treasurer, we should think.
The Free Press does not say that Mr.
Bryan has told falsehood in stating that
he had paid the floating debt N PULL.
1t leaves the people 10 reconcile the figur-
ing Of the President, the finance committee
and the treasurer. .! course Mr.. Bryan
has paid the s26, 947.92 He says 50 and
the little omission Of the treasurer and the
finance committee TO take notice Of 20
small matter he had really never thought
Of before. The GOVERNOR whose creature
he is-and the people who own stock in
the road, should never think Of calling the
President Of a railroad 10 task for 50 slight
an oversight
Some Statistical Comparisons
The report of the Treasurer
shows that the road receiv-
ed, during the past year, :131 .O71.f7
The report Of the previous all
ministratiOn shows that the
amount received the year
before, 1885, was, 1jl. iG1 33
This makes difference III re
celpts in favor Of the old ad
mnistration Of, ~. OJO 20
The report also shows on hand
at the close Of the fiscal year
ending May 3lst, 1856 Sj,s9t.34
The amount on hand at the
close Of the previous year.
as reported by Mr.. &c. Rob
erts the same gentleman
making both reports, being
Treasurer under both ad
mlnistrations, was 5,1G1 sc
Failing on in Improvements.
The report Of the Road Master show i
few facts that may be interesting reading
matter IN the face of the fact that the
great improvements , that the road has re
celved at the hands OF the present admin
istration has been 50 generally heralded
over the State
Money spent for purposes Gn
f.ln F6Pf oh