The news & observer., 1897-01-08

oIncer of the State from INSANITY or
otheF cause, becomes unable to Derforra
the duties OF his office. We have now
barely a sufficient number Of nisi pvius
Judges to do the work Of the SuDerior
court and on nsD7e than one occasion
uuflhg the iast four years the regular
courts nave not been held for want Of
Judge. l therefore renew my recon-
IhendauOn contained in my message of
TWO years ago to make some provision
Tor such an emergency.
RAILROAD COMMISSION
The report Of this commission 10 boso.o
you, and contains many facts of sneciai
interest. Some legislation il ranuirod -
make its work more effective and this T
trust Wll receive the attention it de-
serves from your honorable body. The
establishment Of the Commission was
regarded by many as a very dangerous
experiment but results have proven the
WIsuom OF the Act. The friction between
the people and the corporations has been
greatly removed, since it has been as
ceftHned that any grievance, however,
trivial, has a disintcrested and fair court
lsestablished to investigate and corrnct
fthe abuses complained Of without expense
| TO the complainant.
when the CimmissiOn was established
two of the three largest svstems in tbo
State paid no taxes and no proportion Of
the burdens for the protection Of it's pron-
erty. BY its action in working M and
prosecuting suits vigorously before the
courts, every species OF property ia placed
upon the tax list with the following re-
SUITS: Railroad property in 1890 before
the Railroad Commission was establisb-
ed and made Board of Appraisers for
railroads was only valued at s12.424540
the valuation in 1896 is placed at S26.-
| 576,096, an increase since the establiab-
| ment of the Commission of ST.. I51 .556.
Telegraph rates have been reduced fifty
per cent; express rates reduced and sim
plhied.) At that time no steamboat line
except the one from Fayetteville to VIII
| mington paid any taxes; in 1896 there is a
valuation of $278,7S0,00 placed on them.
Freight and passenger rates have been
greatly reduced, and a farefully prepar-
ed tabular statement contained in the
report shows that the tariffs to be as low
as any in the Union and lower than in
ninety per cent of the States: and this
! Notwithstanding the fact. which is ad
! mitted by all that sparsely settled
| State like North Carolina cannot expect
or obtain the same revenues as New
York, Ohio or-other densely settled New
England or Western States. The affairs
in this office are managed in a most per-
/ feet system, and business OF railroad cor
porations heretofore not to be reached
can all now be ascertained in a few min
utes without calling upon the corporation.
THE LEASE OF THE NORTH CAR
OLINA RAILROAD.
There has been some criticism in regard
to the lease OF the North Carolina Rail-
road to the Southern and therefore
submit for your consideration some Of the
reasons therefor. l favored the lease
OF this property and it was done by the
Board of Directors with my full concur
renee and endorsed by the stockholders
without a dissenting voice / believed and
still believe it is the best thing that could
have been done by the State and the fu-
ture will determine the wisdom of the
transaction. Men some times, for one
reason or another, criticise public of
ficials without having fully informed
themselves as to all the facts in the case.
Under such circumstances their adverse
criticisms are not always just or their
conclusions infallible.,-An impartial in
critics of the lease belong to that class.
This lease was consummated on Au-
gust 18th, 1895. While regretting that
an exclusively business transaction should
have been thrown into the vortex Of par
tisan politics, yet having nothing to con-
ceal either as to time, manner or cir
cumstances under which the lease was
made, nor as to the reasons which induc-
cI 4b0 I I.
join its opponents in inviting full inyes-
tigation of these and all other matters
connected with our management
Of the interests of the State
in this company, and insist that such in
vesigatiOn be had by this Legislature.
AS to the legal power OF the Board to
lease this property, they have express de-
cisiOns of the Supreme court Of North
Carolina, and as to their legal power to
make this particular lease they will de-
fend it, in any and all courts, as approv-
ed in all respects by their judgment as
beneficial bargain for our State and itw
people. After full, careful and deliber-
ate consideration OF the terms and condi-
tions Of the lease, they acted as the trus-
tees of the States interest with the same
prudence, care and judgment as they
use in the management of their own af-
fairs, and in this transaction they had
the same interests TO subserve as the
State, because each is stakeholder, and
is required 30 be, to hold the office OF
Director In conformation Of their judg-
ment, the private stockholders of the
have not only by resolutions un-
animously adopted. approved the lease,
but have expressed their entire satisfac-
tjon with it. I am reluctant to believe
that having been thus approved by those
who have invested in the company their
own hard earned aecumulations it can
be less satisfactory and beneficial to the
State. I deny that this lease was made
either hastily or secretly, unless that
be called haste and secrecy which is not
done in a court house or published in
the public press before consummation.
In determining the advisability of a
new lease, the matter of first consider
alton was that tha State had ssSrad