L
i . i
W
? :
VOL. VII. KO.
Ml
EALJEIGH, C, SUNDAY, APRIL 20, 1S90
PRICE 5 CENTS.
mult tnwU
'
THE PAX-AMERKJArtS.
THIS C'OM'ICK i:CE ADJOURNS
am) Tim m i : n n e k s st a iit
south.
WAS IT PROPHETIC 1
AN ELOQUENT response tothe
WORD "NOKTII CARONILA."
They Resolve to Participate in the
Tour 1 1 ii ud red tli Anuivt isary of the
Dheovery of AmciicaA "Good.
lye" Address by the President.
(Hy rnitwl Press.
Washington, April 19. The Inter
nttioiul American Conference at t welve
oVlock to-day adj mrnoi sine die Prior
to adjournment the delegation from
Chili offered k rtso'ution which was
adopted, that to commemorate this con
ference, the countries represented asso
cu?e themselves with tho United StaUs
0:1 cekhritiri; ;he four hundredth anni
versary tho discovery of America by
C.dUhibas.
ll.-s dutions thankiug the various offl :
cr. of tho coufennco waH also adopted.
Secretary Blaiuemade a closing sketch
whuh uasdeiiv'red with much fteliug
and leceived with groit enthusiasm and
enters.
Tho delegate then left their quarters
to pay their respects to the chief magis
trate. Upon re:uiMiig the executive mansion
tho Pau-Amoivan dctegitea were ub
thi1 into i no t room where they
formed ii circle. 'I he president entered
tiie room on the arm of Secretary Blaine
aud to 'k each delegate by the hand a.
ho was introduced by the s;cretury. Tin
delegate were taken by surprise wh;n
thj presddent stepping slightly forward
jidd reused tnern as follows:
0 ex flumes: I find in this parting
call of tho delegates to the Conference
of American States both pain and pleas
ore. I participate in tho regret which
tho delegates from tho United States and
.ill our people feel on parting from those
who have c'nio from otber States totake
put ia this formal conference. I find
pleasure iu tho fact that your labois
have now been brought to a happy con
clusion DirTerenccs of opinion havo been hap
)y reconciled. I exceedingly repico
ihat a proposition which will bo produc
tive of pv.iee among the A'nericau Stat s,
represented in tho Conference, has been
;imo 'd Upon. It will bo without causo
if u'jtf of toem t hall lift a ho.-tile hand !
against tho oth.r. We give you tho 1
other day a review of a .-mall detach-'
-vnt of the ar.ny. not to chew yon that
have an aruy, bur that v,? have
uont; that cur security is not
in armed ' roo, but in tho law
a'.'di;ig loyal 'y of our people. We ro
joiti? that ou have found iu the orgai
t'lor. of our govern meat something
di'.tfgesrivti and worthy of imitation.
We shad Lo gld to receive from you
.ne'.v UsousotseU'-t'Overunieutin rtturn.
In conclusion 1 tiud much to approve
d tho friendly purpose of tho conference
t -irds this uowruuicut and I will now
bid cch of )cm a hcart-fe't good bye."
The remarks of tho president were
greeted wih applause. The delegites
thn tvrt ihdrdepirtut'C. Abnittorty
of i hem expect to go on tho Southern
tiip, leaving Washington at 11 o'clock
to-niiiht.
O.ving to the delayed ;;djourrimcat of
the c uference, and he' ce the delay of
-t.utiurf, one day will be cut from the
iiui originally allotted to Norfolk, bat
.the trip will hi resumed Monday and
Mil from that timo beeouduottd accord
ing to tho ititurary already announced.
.
THE HEX AT I J GIVLS A WIDOW
630,000.
MOO ,000 for Statue pi General Grant
$75,000. lor A building Faiette
vllle. Hy United Press. 1
Washington, D. O., April 19 (Sen
Tho Senate spent the day in con-idu-ation
of the calendar, and passed a
nu rubor of miuor bills.
Senate bill for the payment of back
t av anil euioiijiueiii,, o
3Ir. It. F. Gray Fills the Governor's
IMace at the itanqiiet at the Celebra
tion of th C. F. & Y. V. R. R.
(Editorial Correspondence.)
Wilmington. X.C., April 8, 1890.
I havn already sent telegraph' c ac
counts of the access of toe celebration,
and of the toasts at the banqvirt the
biggest and best North Carolina ever
gave. Of Wilmington's elegant hopital
ity I need not write. It was fcuch as to
win all the 800 guests of the city. I re
gret that the Chronicle's space will not i
permit a publication of all the speeches
R. F. Gray, Esq., of Raleigh, filled the j
Governor's place, and mede an excellent
speech. Was it prophetic ? And is this
talented gentleman to be the Eiisha and
receive the mantle? He lesponded to
the toast "North Carolina" and said :
To be required to stand in the place
assigned to the Chief Executive of this
State, is embarrassing to me, and to dis
appoint, as I know I must, aud the ex
pectations of a feast of oratory which
were justly excited when it was an
nounced iu the printed programme that
the silver-tongued Governor of the State
would respond to the sentiment just pro
nounced, is doubly embarrassing to me.
But I recognize aud yield to tho fact that
no son of North Carolina, wherever the
place or whatever the time, should fail
to lift his hat ever feeble may be his ut
terances, should shrink from endorsing
and testifying to the truth of anything
that may be said in her praise. Let
this be my excuse, if any be needed, for
my temerity in attempting to stand
where Governor Fowle was expected to
stand.
To tell how great North Carolina is, is
too lar'e a task for an alter-dinner talk.
To siny of her glorious people, hr val
iant men and her lovely women, her cli
mate and her resources, her riches pos
sessed and poteaiial, her history and her
future, would require a paeaalonger than
Judge Gaston' and a minstrelsy more
perfect than that with which Highland
hurper told the legends of his native
hills or Jewish captive, in far-ofl'B'ibylon,
sans the 'lories f his beloved Jerusa-
our rich friends of New England and
the North are turning their eye to the
South whose genial sun makes every
day, except Sunday, a work day aud
whore no isms and strikes make invest
ments unsafe or profitless. I went not.
long azo over inro Tennessee ard when I
saw stir arid enterprise everywhere, long
trains.ladeu with coal, and coke and pig
iron rattlir g in every direction, and the
heavens fairly glowing at night with the
ylare ol coke oven- and blv-t furnaces, I
felt like exclaiming, " Poor North
Carolina gave the b-st part of herself
a vay when she dismembered herself and
gave Tennessee to the Union." But
Bat when I recalled to myself our peo
ple and their growing towns and indus
tries and how, without foreign help, we
are digging life out of the ribs cf what
vva3 thought to brt death, and what we
have in our mountains and pwms to
work upon, I felt cocKtrained io say
"My land, my native land, of every land
the pude.
You do well to celebrate the comple
tion of so important a road as the one
now brought to your doors, linking to
gether the Atlantic coast and the great
West and fulhTiing the prophetic visions
and the ardent longings of your fore
lathers. It bisects the S:ate, having five
outletg to the North, no entangling alli
ances, independent of all others, and like
Aleck Stephens ' toting its own skillet.
The inside history of the building of the
load will never be told. I have some
times thought I would write it as a les
son to my children and the children of
Hie State, of what North Carolinians can
do.
After many tossings by tempests, storms
and unfavoring winds, we have come to
your hospitaoie snores. 0 beautiful Queen
City by the Sea, like Eaeas and hi, fol
lowers came to the kindly shores of the
gentle Carthaginian Queen! It is
haven or rest we are in, and sitting at
your banquet board, I will not vex your
ears 0 beautifu. Queen, by renewing our
unspeakable grief and telling how the
ileet in which we have come has been
threatened with wreck and tossed by the
tempest !
When the toiare oi oNortn uaioima
tired of the wants and expenditure of
money on her railroads, determined to
spend no more and sold to a company of
N orth Carolinians the thirty-seven miles
of a no" -paying road, and those North
Carolinians said they would build the
road to Gree nsboro and then to Wilminar
ton aad then to a connecnon with Cm
ciunati. carping critics laughed at the
THE TAX INVESTIGATION.
lem.
North Carolina! What is it? Simply
crowd of "cornfield
hands,'
av
ay and cmoiuraents, as Major m the
rmv from 18G1 to 1875, to the widow of
lj..n,f.n;int-Co!oncl Nathaniel il. Mc
L -an. amounting to about 0,000 was
r..l..?i tr.,in tho calendar a"1-fter vig
oroiM omWttion from Mr. en m-ell was
j.i.ood. jave oe
The Semite bill for the Uvftj
Miunre of eroun I in vvaj:iULrton near
The uanitol for a buiMing for the accom
modation of theCkiitcd fet 'tHs Supreme
, at. &. ' t or about; 8000,000, was
p.isscd v.iihout division, after a state
ment, by Mr. Morrill.
X!( following billa were reported
.f urn eommitteca and placed on the cal
atsnto bill appropriating $100,000 for
an equ;!n;iu statue in Washington to
General Graut.
Senate bill appropiating $75,000 for a
public building at Jtayetteviile, N. O.,
nod $50,000 for one at Meridian, Miss.
After a brief executive session the
Senate at 5:20 p. in. adjourned.
House.
WAsutNtiToN, April 19. Tho House
devutrd much of tho d.y to euo'ogies
upon tho lae S S. Cox.
K V I I! II TiTd T DLOUD HOUNDS
A Hiiu foiitewCH the 31 tinier of His
Son-iti-1 .nw The Cause was au In
Milt to tin: Murderer's Daughter.
IHy United PrebS.J
htUMiNGi; am, Ala , April 0. Daniel
U iteson who was suspected of murder
ing his son in-law D.ivid Haunicutt,near
h re, few d.ys ago, ua- been captured
by a posse ofeitiz.ms with blood hounds
and has conftsscd his guiit. He says he
." hot llunnicutt because the latter abused
hi.i wife, liateson's daughter. Ho fired
into the house from the road.
Masonic.
Hiram Ix)dgo No. 40. A. F. & A. M.,
Vill meet in regular communication
Monday evening, April 21, at 8 o'clock
hliarp. A full attendance of the mem
bership is desired. Brethren of sister
lodges cordially invited.
. B. Thomas, Sec.
'i strip of land between two States'" a
it has sometimes derisively been called?
A State whose chief products (according
to some geographies and some, I am sorry
to say, now in use in our schools) are
I tar, pitch and turpentine ? A Rip V an
inkle, stretching his laggaru legs m
sleep while otheis are awake, alive and
torging ahead iu social, moral and mate
rial prosperity ? God forbid I Where is
the commonwealth with the histoiy she
possesses? At Mecklenburg, declaring
against tyranny, and at Cowpens, Moore's
Creek, King's Mountain and Guilford
Court House, and on all the battlefields
of the Revolution, making good htr de
claration by her muskets, her cannon,
her pikes, her swords and her blood ! and
after the battles had been fough: and
imding in the Federal Congress
and at her convention in iayetteville,
holding out to the last and contending
for a Constitution that would preserve
for posterity the fruits of V. e victory;
and later, and wit iu the memory of au
of us, you know how the boys from the
Capa Fear and Tee Dee and Albemarle
sections, with their brothers, from the
hills and mountain coves, untrained to
feats of arms aud gladiatorial sports,
ru-hed to the consecrated fields of Vir
ginia and the battle-grounds of the Con
federacy, and staved, ;md stayed and
Hayed, orne forever (more than those of
any other Southern States, Jind others,
until their chieftain said, ' Enough, go
back!" aud whether dying or surviving,
illustrated on every field by their daring,
their courage and their soldieily qualities
the noblest traits of South rn manhood,
untii an allusion to or comparison with
Thermopylae became tame and common
place.
Such is a short record of North Caro
lina's past than which no common
wealth or people have a more briliiaut or
enviable history !
What is North Carolina now? Stretch
ing iml'rSsust'on Liie
mountains on the West, capable of evcVj
ariety of natural aud manufactured pro
ducts, she is said to be the only State
that filli every blank in the census re
ports. Her sounds and rivers aud soils
can feed the hungry mouths and clothe
the naked "limbs of an empire, while her
coal and iron can heat and feed enough
blast furnaces to meet the demands of
half the Union, while locked in the
bosom of her rugged hills are gold and
gems and precious stones enough to
tempt the avarice and make -green with
envy the eyes of a Crcesus or a Monte
zuma! Her colleges are being endowed and
natronized as never before and as in no
other State, without foreign aid, and
churches and school houses, those foes
from which ignorance and vice flee as
from a blighting pestilence, are increas
ing in every town, hamlet and township.
Railroads, the greatest arteries of com
merce, are being built everywhere until
it can soon be said that no county is
without such communication with its
neighbors and the other world. Another
State has won the title of the ''Empire
Slate of the South," but I believe that
the census of 1S90 will show that f jr the
last decade North Carolina has made
greater progress in material prosperity,
and will show the construction of more
railroad mileage and industrial enterprises
than any other State and this, too,
without the aid of foreign capital to any
considerable extent. A new era has
dawned upon the South, and North
Carolina is receiving the benefit of the
genial and inspiring rays of the dawn.
Heretofore the tide of immigration and
investment of the idle capital of the
money centres of the East. and North,
has flown to the Northwest; but tired
of cyclones and blizzards, and dreading
anarchism, nihilism, socialism and strikes,
with which the Northwest is threatened,
' as the new-
railroad builders were called in derision.
Bu;, as step by step the road was built to
South Carolina, then to G;eenboro. then
to SU. Any and then to Wilmington, the
laugh cf the scorner re hied into a
sardonic grin at the unexpected success
ol' the syndicate. But there were times
when the low. ring ehmds, big with de
struction, hung low above the heads of
THE NORTH STATE IMPROVE
MENT COMPANY'S AFFAIRS.
Col. Julius A. Gray, Vice-President of
the Company Before the Committee
Further Facts About the Raleigh and
Gaston Road As Stated by 3Iajor
Winder, General Manager.
Tho railroad and corporation investi
gatiou committee mot at 9:30 yesterday
morning. The first business taken up
was the examination of the North State
Improvement Company. Col. Julius
A. Gray was present to represent that
compauy and was examined by the At
torney-General for the State.
He stated that the North State Im
provement Compauy wa3 organized in
i8b3,at Greensboro. Mr. John D. Wil
Hums, of Fayettevillo, is president. I
am the vice-president. Mr. W. II. Mc
Farland is secretary and treasurer. Its
capital stock 13 250,000, all paid up.
The object of the company was to bui;d
the C. F. k Y. V. road. None of the
htock has never been offered for saie,
and it has no market value. It has
never paid a dividend, and the stock
holders have never received any profit
on their investment. The stock has a
prospective value. Tho North State
Improvement Company built the C. F.
& Y. V. road under contract with that
company, for which the Improvement
Company w as to receive $10,000 per mile
of first mortgage bonds of the
road. Tho road has been completed in
three divisions, and the first mortgage
bonds of 10,000 per miie have been
issued to the North State Improvement
company. The bonds for the first di
vision, trom the South Carolina line to
Greensboro, amounting to 1,500,000,
were sold at 95 cents, with accrued in
terest. The bonds for the second di
vision, from Greensboro to Mt. Airy,
amounting to $734,000, weie sold at the
same price. The bonds from the third
division, from Fayetteville to. Wilming
ton, amounting to $S50,000, were sold
at par, with accrued interest. Tho
North State improvement company
bought tho State's stock in the C. F. &
Y. Y. road at .$10 per share, and the
company now puys that for any share
which u holder may wish to This
m:iy be regard f.d v,z tho market value of
the .-stock. 'The Improvement company
p iys no tax, except upon its real estate.
This real estate is such as has been do
uuted to the company. Ali the moneys
received from the saie of bonds, and all
the moneys subscribed by various town-
snips t.) tne company, the latter
vided the profits were equal to eight
per cent.
In 1866 the State ceased to be a stock
holder in the road, having sold all its
interest to the corporation.
In 18S9 the Legislature levied the tax
of twenty -five cents on each share of
stock, due from 1868 tol8S9, bothvears
inclusive; that body being empowered
to nuke the levy under chapter 216.
laws of 1889.
Th.j Stato believes that the profits of
the company have exceeded eight per
cent peranunmdnringtho.se years. The
tax for eacti year amounts to $3 750 for
each year during that time, the total for
all the years being $86,250
The State claims this amount as law
ful tax aud asks that the railroad com
pany be required to make a statement
of its business for the time above men
tioned, that the amount due the State
may be ascertained and proved. The
capital stock of the company is $1,500.
000.
The railroad company answers the
statements made by the State, admitting
all to be true so far as the provisions of
the charter go; but the compauy also
says that when the Legislature of 1809
undertook to levy a tax of twenty-five
cents on each share of the capital stock,
it was intended that this tax shonld be
levied agaiust the individual stoekhold- ;
ers to be payable by them, and not
agaiust the company.
The company further claims that its
profits have not exceeded eight per
cent, for any one of the years mentioned.
It denies the right of the Legislature to
levy the tax.
The company presented further that
Wake county had formerly attempted
to collect this tax of twenty-five cents,
when it was shown that the earnings of
the company had not exceeded eight
per cent., and the fact had been affirmed
by the Supreme court.
The company has never declared a
net dividend of eight per cent, per an
num, but it has aided in building sev
eral branch roads, and there is a ques
tion now as to whether oy not the money
applied to these extensions and invest
ments should be considered net profits
of the roads as originally chartered.
Major Winder Before the Committee.
Major Winder, general manager of the
Raleigh & Gaston railroad, was exam
ined by Col. Hiudsdale, attorney for the
road.
Q. Do you know what property,
either in the shape of bonds or stocks,
or auythi-?g else outside of its track,
that the Raleigh i Gaston railroad eom-
pat.y owns?
A. They own stock in the Carolina
Central, the Georgia, Caroliua U North
ern, tho Tialc-igh fc Augusta Air-Line,
the builders, and I have seen time wnen
to $20,000, wore spent iu ! anu the Daruam 4 Northern roads.
the con-truction and equipment of tho f - UV T . , ,
amounting
t:.ey met around ihe
bin. oh ed faces and with great
council-board with
cold sweat npon tneir brows, when, it
one had lunched or each had faded to feel
the sympathetic and reassuring touch of
his neighbor's elbow, the individual for
tines cf a cozen North Carolinians
would Lave been destroyed and the
pie Ige they had Lrvei1 the State would
nave been broken. lint amid the tui
:nS and tempest and threatening
shoals and Scylias and Chary bui
ses, we had an Eueas in Julius
A. Gray whose watchful eye and
cam head, cool nerve and un
faltering hands were at the helm
guiding us into a safe harbor and we
are here safe and sound, Q l&yina,
beautiful Queen City by the Sea! I men
tion these things not to praise the men
m ng whom I held a small place, tut
to show what North Carolina grit ran
do, an i how North Carolinians can May
aud stay and stay to the end.
The toast proposed omits one trea ure
that North Carolina las, which with
ycur consent I will add, and that is
'Wilmington." An enthusiastic French
man sitting at the banquet board of Na
poleon, ouee proposed this sentiment :
'In the world there is no country like
France, in France, no city like Paris, in
Pris, no man like Napoleon." Pa-a-
nhr.sing, I would say that in tne world
there is no country iiKe America, in
America, r.o State like North Carolina,
in North Carolina, no city and no people
superior if even equal, to the city ar,d
the people of Wilmington.
-
ATTEMPTED ASSASSIN AT ION.
fne Toughs Try to Kill Deputy Post
jlaJfiL Edinundson 'I hey Fire a
Vollpy aTJiln!Throus;h his wndov
Aud Then AttciiPt to Break into
-- .
the House.
(By United Press.)
Fredericksburg, Va., April 19. It
has just been made public that n Tus
day night last au attempt was made to
assassinate C. U. Edmundsoa at his
home near Belfair Mills. Mis. 'Ed
inundson is postmaster at Belfair Mills
and her husband is her deputy. One
day last week Edmundson had a dispute
with scmsj tough characters ever the
delivery of mail raatu i, and they
threatened to torce him out of office.
He paid no attention to their threats.
Last Tuesday night, hearing loud voices
near his house he raised a window. Im
mediately a rifle bullet whizzed by his
head. Lie jumped bick just iu time,
fcr a volley was poured into the room
by tho would-be assassins. The party
then tried to break into the house but
failed.
roi.i. i ue capital stock or the improve
ment company was also spent for this
purpose,
Uuder the contract with tho railroad
company, the North State Improvement
compauy is to re ceive $5,000 per mile iu
second mortgage bonds, in addition to
the $10,000 per mile of first mortgage
bonds. Ail the first mortgage boud
have been received aud sold, 'i he North
State Improvement company owns the
maiority of stock in the C. t. k Y. v.
road. The Improvement companv, has
aot listed any of its stock for taxation,
'lecause the company's indebtedness has
always exceeded the value of its stock,
and tho lleveuue Act provides that in
listing stock fur taxation the amount of
liabilities may be deducted from the
amount of assets.
The North State Improvement Com
paiiy ban subscribed $23.l!00 to the
(iieusboro Steel and Iron Conipmy,
but none- of the amount has yet been
paid up. There was some objection on
the part of somo of the stockholders of
Improvement Company to making this
subscription, because it will be necessary
to borrow tho money to pay it; but it
was dually deed led to make tho sub
scription hoping that the establishment
ot the iron works at Greensboro would
enhance the value of the laiiruad prop
erty and help to increase its freight
and transportation business.
The railroad does not claim any ex
emption from taxation. Its franchises,
stock &c. ar" lv.te.1 ana the tzzes paid
on them-
The 11. Sc G. Again.
The Chronicle yesterday gave a re
port of the examination of Maj W. W.
Vass, secretary and treasurer of fhe
ll.iteigh and Gaston railroad. To-day
it gi'.es the facts stated by Major Wiud
er when answering questions before the
committee.
It is e: course understood that the
busine. oi this committee is to make
an investigation olfi.yajios railroads
j Augusta Air-Line and of the Carolina
I Central,
i
Q. What is the mortgage indebted
ness of the iisdeigh & Augusta read?
A One milliou dollars
How much more does it owe?
A. It owes the Raleigh & Gaston a
large amount. I do not know how
much. This is not bonded indebted
ness.' Q. Are they able to pay the inter
est on their bonds ?
A. No sir, not at present.
Q. Do you know how much it pays a
year on its bonds ?
A. No sir; I know verv little about
the accounts.
Q. Have you aa idea of what thj in
debtedness of tho Kaleigh & Augusta
road is?
A. My impression is, that it is 10.1
siderable over one million dollars.
Q. Do you know tho valuation of the
Raleigh and Augusta Air Line road as
made bv the board of assessors.
A. $i03,800.
Q. At what amount was the total capi
tal stock assessed by the board '(
A fI3,GbO.
Q Do you remember the aggregate
number ot shares in tho Kaleigh & Au
gusta road ?
A. 1 do not remember. Tho Kaleigh
& Gaston owns neaily all of it.
Q If 1 understand you, sir, the Hrl
eigu & Augusta Air Lino railroad com
pany pays taxes on au amount far ex
ceeding its capital stock ?
A. Yes, sir.
Q. What amount of stor is owned by
the Kaleigh & Gaston railroa-1 company
in the Carolina Central railroad com-
MUIiT HALSTEAD
Goes from the Cincinnati Commercial
Gazette to the Brooklyn Standard
Union
By United Press.
New York, April 19. -The Brooklyn
S:andard-Union iu its issue to day pub
lishes the announcement that beginning
with next Monday's issue, April 21, Mr.
Murat Halstead, known the country
for the past thirty years as editor of the
Cincinnati Commercial Gazette, assumts
a like position on the Standard Uuion.
panyr"
A. Four hundred and rifty-one thous
and. Seven hundred and ninety-one dol
lars and eight cents, in bonds and
stocks.
Q. Do you know what the total nnm
ber of shares of the Carolina Central
and pnrnnmt.iniia in tho Ktfitp. -Ur a
view to determining which, if any, shall
pay taxes to the State.
A spirited contest is being made by
the U. & G. company against paying
any tax The situation may be under
stood by stating a case now pending in
the W ake superior court. It is as fol
lows :
It is a suit brought bv State Treasurer
Bain against the Raleigh k Gaston
Railroad company for tho payment of
eighty-six thousand two hundred and
fifty dollars ($86,250), which the State
edaims is a certain tax due the State
from the Raleigh fc Gaston Railroad
company.
The conditions under which the suit
was brought are presented as follows:
The charter of tho railroad company,
which is a part of the laws of 1852-"53,
provides that all property of the road
of every description shall be vested in
the company, one-half for the use and
benefit of the State, and one-half for
the benefit of the individual stockhold
ers; and that all the property shall be
exempt from taxation for a period of
fifteen years from the date of the
charter.
After that time, the legislature may
impose a tax of twenty-five cents on
each share of the capital stock held by
individuals whenever the annual profits
of tho company shall exceed eight per
cent, on the stork.
Ttie limitation of time gave the com
pany exemption from taxation till the
25th day of December, 1867. After that
time the stock was liable to a tax of
twenty-five cents on each share, pro-
railroad company is ?
A. One million, two hundred thous-
ana IrJlm
n ThAn fT-halii 'V-tuay be able
vc 1 i. j ,r,
to state now whether the Raleigh k
Gaston Raihoad Company owns the
same amount of second mortgage bonds
as it does of stock, it appearing from
your answer that the total issue was
$1,200,000 and the stock was $1,200,000?
A. Yes, sir; it would seem to be the
same. It owns the same amount of
stock as of bonds of the second mort
gage. Q. In view of the fact that the Caro
lina Central Railioad Company has been
unable to pay anv interest upon its sec
ond and third mortgage bonds, and fre
quently has to borrow money to pay in
terest on its first mortgage bonds, what
would you say its stocks was worth
that is to say, what is its fair market
value?
A. I should place no value on the
stock except for its voting power. It
has no market value that I am aware of.
Q. What is the assessed value of the
Carolina Central Railroad track?
A. One million dollars.
Q. What is the assessed value "of rol
ling stock of said railroad?
A. Two hundred thousand dollars.
Q, What m your opinion are the
second mortgage bonds of the Carolina
Central Railroad company?
A I cannot conceive that with the
present outlook of the company they
would be worth anything. I regard
them as about worthless.
Q. What is the amount of stock
owned by by Raleigh k Gastou railroad
company in the Durham & Northern
railway company?
A One hundred aud fiftv thousand
dollars.
Q Is there any other prop-ntv th
you know of that'the Raleigh - G.4tt,n
railroad company owns?
A The Raleigh k Gaston railroad
owns part of cotton compress at Char
lotte. It owns four thousand five hun
dred and twenty nine dollars and eightv
six cents in this compress, and it owns
stock in the Louisbnrg road to the ex
tent of forty-fi?e dollars.
Q. Are joua stockholder ?
A. I am not.
Q The Rileigh Gaston is wll
equipped now ?
A. Yes, sir.
Q. Track in good condition ?
A. Yes, Sir.
Q. Roiling stock in good condition ?
A. Yes, sir.
Q. Its business has been increasing?
A. Not much, very little.
Q. What is its business this vear
compared with five years ago?
A. 1 have not looked five years back,
bnt there is a falling off from last year.
Q. Cau you give us an opinion as to
the aggregate value of the business as
compared with five years ago ?
A. I think there is not much differ
ence. Q. Is your rolling stock in better
condition than five years ago?
A. No sir; but there is more of it.
IJ. lou bought and paid for it?
A, Yes, sir.
Q. Out of the profits of the road?
A. Yes, sir.
Q. So then within a comparative
short period, the Raleigh k Gaston
Railroad company has bought this stock
in the Carolina Central, the Durham &
Northern, the Raleigh & Augusta Roads
and increased its equipment and paid
for it?
A. I do not say it has paid for it out
of its earnings. The Raleigh Jt. Augus
ta Air Line was paid for out of its bonds.
Q. Has the Carolina Central Railroad
company a separate organization ?
A. Yes, sir.
Q. A President and a boaid of direc
tors? A. Yes, sir.
Q. Are you its general manager ?
A. Yes, sir.
Q. Is your salary for the service paid
by that company ?
A. Yes, sir.
Q. You have a general salary as Gen
era! Manager ?
A. I have a salary from each com
pany, it is divided amongst the vari
ous roads. Each campauy designates
the part they are willing to pay.
O. Have these companies also their
own shops, and such things that?
The Carolina Central, the Georgia, Car
olina & Northern, Raleigh & Augusta
Air-Line, and Durham & Northern?
A. The Carolina Central has its shops.
The Durham fe Northern has no shops
The Georgia' Carolina & Northern rail
road i3 not yet completed.
Q. The Raleigh & Augusta Air-Line
have shops?
A. No, sir.
Q Where is done the necessary work
for the Georgia, Carolina & Northern,
Durham & Northern, aud the Raleigh L
Augusta Air-Line roads?
A. We do some of it in Raleigh and
some at ljaunnburg.
Q Which does the greater part of it?
A. There has been very little to do
for tho Georgia, Carolina & Northern.
We do it all for the R deigh & Augusta
Air-Lino here.
Q. Has the Raleigh & Augusta Air
Line railroad compauy an independent
organization of its own ?
A. Yes, sir.
Q. Does it ever pay for the work i
A. Always.
Q. When not able to pay, then what
did you do?
A. They always pay.
Q. Do you know the fact that tho
bonds which the Raleigh k Gaston Rail
road Company owned in the Carolina
Central Railroad Company have been
returned for taxation by the Raleigh &,
uaston nan road Lompany?
A. I do not know sir.
Q. Anterior to the time of tLo page
of the present Revenue Law, do you
know that tho Raleigh k Gawton Rail
road Company returned stock which it
owned in other companies for taxation?
A. I do not know sir.
Q. If the Raleigh k Gaston Railroad
had none of those connections and had
not extended its line and system, would
it require as much rolling stock aii i
has?
A. No, sir; I do not think it wor'u.
Q. This amount, then, wuh not : pes
sary to operate the road fron ;:i..cigh
to Wei don alone?
A It was not necessary -j operate
the road for its own local b .iaeii, but
its through business is as maco it.i bus
iness as its local business.
. Q. Is it as deVhuVtpipd pvoritabh?
A. I do not meau to sJ JVy ---uch
thing. Through business is not a.s profi
table as local, aa a rule, but we must
have cars to move it and prepare for it.
FOUR OF THE MILITIA KILI.FI
Iu the Trouble Between the Kentucky
Outlaws and the Mate Guard.
By United Press.
Frankfort, Ky., April 19. Addition
al reports have been received here to
the effect tbat members of the State mi
litia have been ambushed at Black
Mountain. The companies there are
from liarrodsburg and Lexington, with
a few of the Governor's Guards from
Frankfort. Hon. Ben Lee Hardin re
ceived advices from Harrodsburg iX 9
o'clock that four of the Uarrodsbarg
company were killed. Charles Alexan
der, Dan Curry and Sergeant Pullaln
were the killed from Harrodsburg. Tbe
fourth name is not known. Mr. Hardin
is a brother of Attorney General Hardin,
and he has hopes that the report is not
true.
North Carolina Postraater.
By United Press.
Washington, D. C, April 19. E.
ink was to-day appointed postmaster at
Carlisle, Davidson Co., and J. L. Jonea
at Mount Zion, Wilkes O., N. C.
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