The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-10-29

] for quarterly parIlalr Of teachers. which
Is a wise and proper one. mas larseiy r.
| repositories, and for that reason The in
! come from this cOurce can De- nothing Ike
/ so large as DO would otherwise have been
il is gratifying however 10 Know not-
withstanIIug this large decrease OF de-
post. that within the hrst SIX months 1
have been able 10 make for the state the
sum of $500 from this unexpected source
I respectfully suggest that the law pro-
I viding for state repositories be so amend
90 as 90 remove all doubt that may exist
/ iu the mind of any one as 20 the power
I OF the governor TO appoint successor
Z when he Is unable 20 agree with them
I upon the rate Of interest 10 be paid upon
/ the state deposits.
SALE OF 3ie PER CENT. BONDS AT
PREMIUM.
Under the provisions OF the act ap-
I proved Dec. is, le3i. 800 s5Dl-hOnls On the
Northeastern railroad indOrsed by the
I state We're deposited with the treasurer 10
DE exchanged at par for the new BE per
I cent. bonds 70 be issued under said act
/ Fortunately, however. Tor the state. these
+ new 81 per cent. bonds were, when offered
J for sale, sold 10 the Columbus Savings
. Bank at premlur or ll-leO per cent Tor
I each S5o0-bOnd. To have sold a bond bear
/ ing 3iz per cent interest az premium dur
/ ing such a financial stringency. Is an
J event Oh our history Of which AN iieorgians
l may DE Well proud and speaks volumes for
/ the nigh standing or our state in the com
] mercial world. The sale OF these bonds
I enabled me to discharge our obligation
J on the Northeastern railroad bonds which
had one year TO ran ard were bearlne
I interest at per cent. per annum. The
/ saving to the state i'm the difference be
I tween Z and 3ia per cent. for the period
/ that these z per cent. bonds were 10 run
] was the sum OF SS,l55.
/ CONDITION OF NORTHEASTERN
RAILROAD.
Since coming into Office I have found
/ u necessary 20 20 10 considerable expense
/ good condition. Among other eXtraordi-
I nary expenditures Incurred was IN the
| purchase OF an engine, for which We paid
/ $4,000 We We're paying $3.50 per year as
rental for an engine ana under the con
/ tract were required TO keep the same in
/ repair al our own expense. This policy
! fore made the purchase as above stated.
/ SALE OF THE SOUTHEASTERN RAIL
/ ROAD.
As provided by law and advised by act
/ OF 1884 after advertising same according
/ TO law, that part of the Northeastern rail-
/ road lying between Athens and its june
[ ton with the Southern railroad was eN-
/ posed 70 sale in the city Of Athens on
I the 18th of April, 1895, and bought IN
| by me for the state of Georgia for one
/ hundred thousand dollars. this being the
! only bid made. The deed TO the property
/ has been made to the state and proper.E
| recorded. 1 submit herewith statement
| showing the running expenses and eXpend-
/ lures OF the road from date Of seizure
/ date Of sale to Sept. I:
! Statement Of earnings and expenses Of
.
! Nov. 20, 1893, 10 April rs, 1880, inclusive:
| Earnings Ss,l95.@; expenses, $50 l4i.14;
/ net earnings, S25.Sl6.2S; deficit, S665.i2.
! Statement of earnings and expenses or
/ the Northeastern Railroad of Georgia
| from April II, 1898, TO Sept 30, 1898. inClu-
/ siye: Earnings. Sl5.Oi080; expenses, ST.
| 1880; net earnings, Si,1lS14; deficit. S2662i
! After purchase of the road / placed IN
! charge Hon. II. X. Reaves who has been
/ operating the road since the purchase as
| agent OF the state. There is no doubt that
/ the road viii earn a very large dividend
/ on the purchase price paid therefor by
me, and will yield sufficient income to
| pay the interest on the entire series Of
/ bonds which the state issued to take up
I the old bonds of the Northeastern rail-
/ road Endorsed by it.
| FUTURE DISPOSITION OF THE
NORTHEASTERN RAILROAD.
| l desire to call your attention to this
1 property and submit to your considera-
/ ton the question of its future operation
or disposition. If, in your judgment. It
! Is wise to sell or lease this property 1t
! VIII be necessary for you TO enact the
/ provisions under which you desire the
sale or lease contract to be made
BLUE RIDGE AND ATLANTIC RAIL-
ROAD.
| This road reaches from Cornelia on the
| Southern railroad, to Tallulah Falls, and
| was originally part of the Northeastern
| railway property. Growing out of this
! fact is the claim of the state thereon 20
/ secure the payment of the bonds Endorsed
| by the state on the Northeastern railroad
| property. This claim, 1t is understood.
/ VIII be contested by those who at present
/ claim the Blue Ridge and Atlantic rail-
/ road. The road is now in the hands Of
receiver appointed by the United States
/ court II has been reported to me that
! One-half Of IL has been abandoned, and
! is not now being operated. 1t has been,
/ and rs now, mooted question as to
/ whether or not an effort to enforce the
| claim of the state will result in expense
| or benefit to the state. l respectfully
suggest that a committee of the best busi-
n In nod s,alr ,f,,n
] ton OF this property, consider its con-
| nectiOnS and surroundings, and give di-
| rections whether or not the state shall
/ proceed to enforce its claim thereon
! THE WESTERN AND ATLANTIC
COMMISSION.
In pursuance of an act passed by the
! general assembly in 1894, providing for a
| method of settling controversies between
the state and other parties over prop
! erty connected with the Western and
/ Atlantic railroad, l appointed as commits
| sioners to pass upon and determine such
/ questions as might be submitted to them
| under the terms of the act, Hon. John L.
Hopkins of Fulton county; Hon. I. r.
Jones of Whitfield and Hon. H. W. Hill
of Meriwether. There was submitted tC
] them for adjustment a controversy oVcl
| some railway property lying between
| Whitehall and Forsyth streets, in the city
OF Atlanta, The value OF this property
was very great, and the case was Ions
! and tedious one and holly contested OF
both sides After hearing evidence anC
volved in favor of the state The evt
dence is so volumnous that 1 have no
deemed il advisable to go to the eXpens,
of printing. The finding of the commits
sion I have ordered printed, and will IL
a short time be placed before you.
have agreed, as authorized by law, to pay
each of these commissioners the sum O
5000, subject to your approval I respect
fully ask that your body make provision
for the payment of this sum, and FOL
other expenses incurred by the commits
sion to the amount of three hundred anC
fifty dollars and fifty cents.
PENSIONS.
1 herewith submit to you a Statement
| showing the amount of pensions paid L
confederate soldiers for each of the las
three years.It will be seen, notwithstand
ing number of deaths, that there hal
been an increase in this sum due to tn,
fact that as they grow older their wound,
and Affections increase their disabilities
and make 1t necessary for them to cal
upon the state for assistance:
MANNED SOLDIERS.
Year ending 26th October,
! Year ending 18th October
1891 ..-.... ................. 3, 30 1S5000 0
Year ending 26th October
- rSyo' S'Sos 10000