The daily state chronicle. [volume] (Raleigh, N.C.) 188?-1891, 1890-04-23
A COMPROMISE.
THE STATE AND THE Il. & &.
ROAD REACH AN AGREEMENT.
BY Which the Railroad Pays sl5 900
in Taxes-and the Investigation of
the Roads Affairs Ceases.

BY Which the Railroad Pays sI5 900 |
in Taxes-and the Investigation of
the Roads Affairs Ceases.
The investigation committee met TO
continue its work yesterday Ii was in
tended to resume the investigation of
the Raleigh & CASTOR railroad company,
but when the committee was called to
order the Attorney General stated that
he was ready to propose compromise
on behalf of the Raleigh g. CASTOR road.
1t has already been stated that there
was pending in the Wake Superior
court suit brought by State Treas
urer Balm against the load for the re-
claimed was the amount due from the
road for taxes for the years between
1867 and 1890. Soon after the suit was
brought the State proposed compro-
mise settlement which was at the time
declined by the road.
But the Attorney General stated to the
committee that the road was now ready
to agree to the settlement proposed by
the State, under certain conditions.
The proposition, he said, was ready to
| be submitted to the committee for con-
sideratlon.
| The committee at once went into Sc
! cret session and deliberated with closed
doors till four o'clock in the afternoon,
when the doors opened and the commit
tee announced that they had approved
| the proposition of the company.
The proposition was made a matter Of
| record in the Superior court yesterday
| afternoon, and the following is copy.
cat this, April term Of said court, by
| consent, this action is compromised on
| the following terms: The railroad COM
pany agrees that Judgment may be
| entered in favor Of the State for the sum
| Of fifteen thousand dollars, being the
amount levied and assessed upon the
capital stock of the company for the
fiscal years 1886, 1887, 1883, 1889.
''The State accepts this sum in satisfac-
ton of all taxes due on Said stock up to
and inclusive of the fiscal year 1889
But nothing in this compromise or the
judgment to be entered thereon shall
be constrained to estop or prejudice in any
manner the State from demanding any
other taxes which might be due from
the company upon other subjects of tax
alton, nor shall it be construed to estop
or prejudice in any manner the company
from denying its liability for the tax
on the capital stock aforesaid, for future
years.
1T is thereupon ordered and adjudged
| by the court that the State recover O.
| the company the sum OF fifteen thou
sand dollars, with interest from the frs
day of this term, together with cost
and disbursements.
The official document does not g.
! state, but it was agreed when the propo
sition was laid before the committee
that if it should be accepted, the inves
tigation of the company's affairs shoul
cease; and Col. J. W. Hinsdale, attor
ney for the company, stated that if th
investigation was to be continued tn,
compromise proposition would be with
drawn.
: The agreement by the Attorney Ger
a eral on the part of the State, and th
decision of the committee to accept an
approve the proposition, put an end
both the suit and the investig gation.
l. The compromise carries with it th
d provision that the railroad compan
n shall assume all the costs, fees, &C.,
the suit and investigation.
The consideration of this matter OF
q cupied the entire session of the boar
D yesterday.
} 1t will meet again this morning an
outline the work which will be taken u
- by the committee at a meeting to /
held in June next.
ii 1t is probable that the present Sc
5, sion of the committee will end to-da
% The Georgia Company.
" Judge D. Schenck, of Greensboro, W;
1e called before the board on MonJs
b. and questioned with reference
m the Georgia company which w
be organized and located at High Poi
x. in 1887. He gave a history of Il
he organization of the company, bat said
ed this time he did not know stockhold
n or an officer of the company. He sa
lr- he knew Of no property the compa
cd owned. The only tangible property t
company ever had was its office fur
ture at High Point. He stated tt
while he was attorney for the compar
it had $308, 900 in solvent credits, viii
ng be had thought was the only ts
r.. able property the company held
this State, and he had offered
pay tax to the amount of abe
$1,000 on that property. But the boa
lb- of county commissioners levied on pr
~ erty which had been conveyed by
- -, Georgia company to the Central Tr
al Company of New York, and claim
S. $31 900 from the Georgia company.
will commissioners doubled this tax max
"a it $62, 900. As attorney for the CT
he pany he regarded this tax as exorbit
Ie and unjust. He also thought it
OK, time for the company to get out of No
Carolina and he advised the comp;
not to pay the tax. This is the last
had ever heard of the taxes or knew
the company. Judge Schenck expires
the the opinion that the Georgia comp
never had any connection with
Richmond & Danville railroad comp
but did not state this opinion officia
Of >.>
by Mrs, RandalPs Thanks and Appret
and ton.
oIo' lBy United Press.]
lew WASHINGTON n q Anril 2-'