The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1913-02-25
Also Joint Resolution For Ex-
animation of States Stock
In A. and N. c. Railroad
BY SPECIAL COMMISSION
Both Senate and House Pass
Rats Of Bills on Second
and Third Reading

Gv a vote OF seventy-siX to five, the
ltouse Yesterday passed on Its final
leading the bill by Representative
Kclum 10 encourage building in
North Carolina by the State issuing
~ bonds to AXE care OF good oad
bouds by the counties. There was
INT little serious opposition to h
Measure. The bill provides that the
state may issue 100000 In bonds
~seui-anpually, sell these bonds at four
DER cent interest and with the pro-
,eds purchase the bonds issued by
Counties for good a construction.
The county bonds are 10 pear nve
nar cent. interest. The bonds are to
run f%orty-one years. and il is q
maihcmatical calculation that these
ponds can be issued by the counties
and retired in forty-one years at five
per cent.-in words, the coun-
ties do not provide a sinking fund
and never have to provide for paying
The principal of the bonds-the five
yer cent. for forty-Onc years wipes out
he county's debt. while the State
sells is bonds at four per cent. in
,crs,. The whole proposition does
MOI cost the State a cent, but its &C
ion in the matter serves to provide
$500 600 a year to be spent IN the
stale in good road building.
This ia the scheme worked u by
W. :. Wilson,, Of the State depart
ment. and adopted by the North Car
Dina Good Roads association. The
application OF the is left op-
tional with each county. No COUNT
can issue its bonds under this plan,
except after an election has heen held
and 4 majority of the votes cast must
favor the issues. Such an eiectloh
can not be called except upo petition
az twenty-five per cent. Of the voters
ar the county. The advocates of the
measure say there Is no danger o.
over taxing the States credit, because
as fast as the State increase Its Ia
hihties il is increasing its assets, a
il always las county bonds at fly
per cent. as collateral TO Its owl
bonds at four per cen
10 Examine a. & n. G.. Matter.
preventative Young. OF Harnett
Introduced a joint resolution in tn
House, Which readily passed il on nj
readings, providing for the appolnt
ment of a special commission OF three
members on The part Of the Senate
and five on the part of the House, tn
governor TO act as chairman ex-Offl
30, 10 examine the States stock ii
the Atlantic and North Carolina rail
road, ascertain it's present value, etc.
ard report TO the General Assembly
At It's special or adjourned session thl
year. The preamble cites the i'm
practicability OF making adequate In
~NeSligation during the present session
sdch as would warrant the Legisla
tuc in taking action on the propo
s'tion 10 purchase the States stock.
Three dozen new bills were intro
duced in the House and about as man,
IN the Senate, but few Of general In
ierest. In the Senate q bill was intro
duced by Senator Grant. to require tn
boards Of education Of all counties I
publish annual reports Of their receipt
md disbursements. Representativ
ferguson introduced a bill in tn
'iouse, to prohibit misapplication Q
money or property assigned to anothe
person, n Representative Hal intro
ddced, by request, a bill to prOhib1
cigarette smoking around churches ]
IN" state during religious services.
Big Days Work.
Both branches of the General A:
s'nbly did a big days work yesterda
towards relieving n calendar III
House passed about seventy bills o
mai reading, about half of them D.
ing roll-call measures, and almost z
many bills passed their second readin
and went over until Monday for the
mail reading. Many bills passed fin
reading in the Senate and a large nun
Der were put through their seco1
roll-call. During the day 26S bill
passed Eecond or third reading in tt
Senate or were considered and d
serred.
The Bryant judicial reform bi
which passed its second reading
the House Friday night, was made
special order for the expiration Of q
morning hour Tuesday for its THU
reading. A batch OF amendments we
sent forward when the measure can
up yesterday, several OF them provi
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