The daily state chronicle. [volume] (Raleigh, N.C.) 188?-1891, 1890-04-19

cluded an item which ought not to have
been included. This, for new steel
rails for exchange.
q The president in his annual report
dated November s, 1888, makes the op-
Grating expenses for the same period.
after including taxes and other tb1nps'
only SOL, 131 80. Please state how Won
nave increased that sum to OVERSEES, 600.
Answer to this question was deferred
and the committee adjourned till 8
O'Clock.
Afternoon Session.
The committee reassemblea at
o'clock. Maj. Vass answered the oues.
ton asked Just previous to adjourn
ment.
a. The Discrepancy in my report and
the presidents report, was doubtless
caused by following the erroneous re.
port of the general superintendent.
who, inadvertently, in his last copy.
made an error.
z. Please state the items of expense
included IN your report and not includ-
ed III the general superintendent re-
port, which you say is erroneous.
A In the superintendent report he
makes the operating expenses $751;
1895. On the next page, in continua-
ton, he states that the company spent,
IN permanent improvements, SS7,S79.
0l. His purpose must have been to
have stated that In addition to the ex-
pense as stated, the company had also
spent So7, ,879.01 as these two sums
make the proper total expense for the
year. $3.50, 9,010.96.
@. Does not the report of the super
intendent say that the operating expen-
ses for the year ending September, 1888,
We're $251, 1875, and that OF this
amount the sum of $S7, S79. OIL was spent
IN permanent improvements? And
what do you gather the Indication of the
president to be In making his report
| otherwise than from the language used
by him?
A. In short interview with the su-
perintendent [ learned that it was an
erroneous expression, and that he IN
tended to have said $S7,S79 in addition.
O. Taking your statement of the re-
ceipts Of $551 492 19 and the disburse-
ments, $3.50, ,O10.96, what is the bal
ance?
A. S312, 2,279.62.
@. What were the gross receipts Of
road for the year from September /,
1886, to September l, 1887?
A. $466, 225.O7
Q. Does not the president, in his re-
port OF November 8, 1887, report the
receipts as $530,020
4. he Includes other miscellaneous
receipts | only gave transportation
receipts
@. Is the statement Of the president
correct?
A. ] assume it is correct.
q What was the amount Of expenses
for that year?
A. 1923, 500 As.
Q. WHAT is the balance Of profits
after deducting The expenses from the
receipts?
A. $2u6, 699 80.
G. Ia your report on page 16 Of No
vember. 1887, an item is entered O.
interest on preferred stock r. & A. A
l.. r. Il. Co. of $50, 000 Was that re
ceived III cash?
A. Yes.
9, Was not that credit entered with
out the receipt Of that amount in cash
a. 1t was paid in cash.
G. The item of sales of rails, fasten
ers, &c, page 16 of the report) S53,
S92, ,25-to whom were those article
sold :?
A. To Carolina Central road, S34,
; 524 73, Z @. Hoffman 81 Co, So, 1l2 81
R. & A. A L. road, $17,255, maxim
the total.
, G. Did you get the cash from th
: Carolina Central road?
A. Received $4,000 in cash, and
note for the balance. The note has u
security.
O. Is not the c. c. road utterly il
solvent?
A. do not know.
e O. What is the date If the note an
: what interest does it bear?
A. The note was given IN Januar
1887 and bears interest at 6 per cen
> The interest has been promptly paid u
to 1890.
@. Did you receive $17.255 in cas-
- material sold to it?
" A. It was paid in cash in that 6sc
year.
,e q What items constitute the entry
Is $5l 9l2 SO of bills receivable, on page
of the report?
re- A. Notes from the Seaboard al
ot Roanoke road, Carolina Central and Il
Warrenton railroads.
or O. State the total amount due On Il
1st of October 1887 on account of bill
X receivable.
S141 057 SO
n. The question as to the parties fro
whom the bills were due and t
amount from each was left open t
Monday.
Of @ 1 notice an entry Of investmel
an reduced r. g. A. A. L. bonds $3.50, OF
no Were these bonds sold, and If so,
what use were the proceeds put ?
lss A. To the stock Of the G. c. &
to road.
ng Q. Were the bonds sold as stock a
las paid for at par?
ty. a. They were turned over at par a.