The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-12-23
OFFER 1906 ga FOR N. c. AS
4 MONTH AGO THEY WERE
SELIINSS FOR 10I.
A DIVIDEND IS DUE ON JANUARY iST
Statement of the States Interest bearing Bon
ded Debt, as is Shown by the Forth
coming Report Of the Sta
treasurer,

treasurer.
In no way, perhaps, has the moral of
the late election in this State been more
strongly pointed than by the rapid rise
in the price of our securities.
Prior to the election North Carolina
As, for instance, We're quoted at l04
Yesterday 1861 was offered for them
All of which goes to show that when the
Democrats rule in North Carolina CAPT
tai feels secure and the world has con
fidence in the States good faith and
in its ability to discharge it's obliga-
tions.
No doubt the fact that the semi-an-
nual dividend of per cent is to be paid
on these bonds January 1st, and Treas
urer Worth has already set aside the
$4,000 necessary to pay it, has much
to do with the increasing price in these
bonds, but that certainly cannot be as
signed as the sole cause for the jump
they have never been known to sell be-
fore
Whether the offer of 106$4 was accept
ed or not is not known. 1t was made
to the National Bank of Wilmington for
the $4,000 of bonds it holds and the
Treasurer as yet has no information re-
garding the acceptance or rejection or
the offer.
The interest bearing bonded debt of
the State, according to the forthcoming
report of the State Treasurer. stands as
follows:
per cent. Consolidated bonds
tdue 1910. ............. 50, 800
6 per cent. \. G. X. II. Con-
struction bonds, due 1919. 2,I20,000
Non interest bearing old bonds
convertible into per cent. 240,920
Total S6,33l, 40
The interest is payable on the per
cent bonds in January and July, and on
the per cent. bonds i'll April and Octo-
Der.
The interest on the 4 per cent. bonds
is paid out of taxes levied for the pur-
pose, while the interest ON the 6 per
cent. bonds is provided for out of the
dividends coming from the States stock
in the n. c. K. Il. Co.
The annual interest is as follows:
On 4 per cent. bonds, (due
January and july ......S 134,S34
On 6 per cent. bonds (due
April and October ... 1853, 200
Total annual interest $50. $29S, 1924
The annual income to the
State from its stock in the
\. G. II. Il. Co., has been
under old lease .........S 1S0,012
Is TO be for three years, un-
der new lease ......... 19o,0l3
Is to be for ninety5four years,
under new lease ....... 210,0l4
Stock A. and \. C. X. II.
Co. 25,332
Under the Act to Compromise Com
mute. and Settle the State Debt" 3d.,
3T0,S50 new per cent. bonds have been
issued in exchange for the old valid
debt To complete the work begun in
this line will require $240,920 more to
carry the new debt to its utmost possible
limit, 3,615.770. The time in which
this may be done expires January /,
1899.
INVESTMENTS.
The State holds. as an investment, 30
O02 shares of stock in the y. G. X. X.
Co, 1866 shares Of stock in the A. &c
Y. c. r.. X. Co, and $136,750 in the new
4 per cent. Consolidated Bonds.
The State Board of Education, holds,
as an investment, S143,2o0 of the per
cent. and 5000 of the per cent.
bonds.
The State Treasurers report this year
will show that the balance in the Treas
ury two years ago was:
General fund ............S SS,3o3.01
----
Total 1923. All "a
Receipts since then have been:
General fund .S 2,646,244.21
Educational fund ... 3O,609.50
Total 2.676.S53 II