Newspapers / The Weekly Star (Wilmington, … / March 17, 1871, edition 1 / Page 1
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VOL. 3. WILMINGTON, N. C, FRIDAY, MARCH 17, 1871. NO. 20. PUBLISHED WEEKLY, t AT $3.00 a Year, in advance. . j CIiTJII HATES : . Fire copies, one year,r......L... ....13 60 Ten copies, one year,... 24 00 Twenty copies, one year,..... ....... ,.... 40 00 No commissions allowed Agents for sub scribers taken at less than $3.00 pei year. 1 r M H lj W LJ1 j-B cy 3 w t W w STST h a P ' . r ia --i -1 r w So w w CO ro 5 -1 3 V 3 H S SB a 5. - -? (not: 2 2 09 i CD P i- 5 : ttg g SJ a o So BO'. F w a g a o - I et-La B Is So "ft f tQ I? JO 8 O go : O-i 2 P cscooexicot- ... on w- . c p 3 r-o : : o : : : ; -. ; g8SS388S 88888888 - MHHHM . .. . 8888888 S 88888S88 - ea a to m 88888888 ' 88888888 ? S a 1 co e ki 88888888 88888888 '' H H H ?3 M 'M P , Twelve lines solid Nonpareil type constitute a square. Four squares estimated as a quarter-column, eight squares as a half-column, and sixteen squares as a whole column. , . v 49 TTie FAJRMJEIt has a large and grow ing circulation among Vie best class of farm ers and planters of the Soutii, especially in the two Carolinas, The Postage en the Farmer is only five cents per quarter, payable at the office where the paper is received. 49" Post Office Money Orders may be obtained in all the cities, and in many of the large towns. 1 We consider them perfectly safe, and the best means of remitting fifty dollars or less. . - , t r? . JJa Xtegrlstered betters, under the new sastem, which went into effect June 1st, are a very safe means of sending small sums ofmo ney where P. O. Money Orders cannot be easily obtained: Observes the Registry fee, as well as postage, must be paid in stamps at the office where the letter is mailed, or it will be liable to be sent to the Dead better Office. Buyand in the money and seal the letter in the presence of ine postmaster ana take am receipt for u. . .betters sent to us in this way are at our risk. Internal Revenue. Decisions Tax on Dividends, Interest, dee. ' Some difficulty has. existed in the con struction of the act , of July 14th 1870, upon the subject pfithe tax on f dividends and interest paid by the banks and other corporations,, which are required to with .hold the tax from the holders of s their stocks and bonds, and to pay it to the gov ernment.. The rulings ot the omce 01 in ternal revenue have not been uniform upon this subject. Commissioner Pleasanton has regently issued the following letter to Supervisor Dutcher, of New York, cover ing all the points involved: , Washington; Peb. 27, Sir -Upon further consideration it is deemed advisable to publish in the Inter nal Revenue Record the following instruc tions. which: it is believed, cover all the questions which have arisen v respecting the liability to tax of dividends, surplus profits and interest on bonds of the corpo rations enumerated in sections 120 and 19.9. Jinli J 11 no afl n.; ftmRAdpH unrl section 15, act July ; 14, 1870 : enumerated in sections 129 and 122 afore to August 1, 1871, are, subjected to a tax ox are per cent. r- -'V.-'r : Secood Undivided profits of said cor porations which ; were carried to the ac count of any surplus or contingent fund prior to August 1, 1870, are subjected to a tax 01 live per cent. Imrd Interest (or coupons represent ing interest) : due from the corporations 'J ! . .! en t t mcuuoueu in secuon wnicn oecame due and payable (prior to August 171870, is also subject to a tax of five per cent. Re turns of these dividends and surplus profits should be made on form 65, and returns of this interest on form 6S. Fourth All dividends of the corpora- tions before mentioned which were declar ed within the last five months of 1870 are exempted from a dividend tax, even when said dividends are composed' wholly or in part of profits accrued prior to August 1, 1870. Fifth Profits carried to the account of fund within the last five months ot 1870 are exempted from a surplus tax, even it said profits were earned prior to August 1, 1870. , SixthNo tax should be withheld from interest (or coupons representing interest) falling due and payable within the above period of five months. . Seventh Dividends of said corpora tions which declared on or after January 1, 1871, are taxable as follow?: If com posed-wholly of profits accrued or earned Srior to August 1, 1870, at the rate of 2J per centi; if composed partly of profits accrued prior to August 1, partly ot those accrued within the last five months of 1870, and partly, of those accrued since January 1, 1871 at the rate of 2 per cent., upon so much nt the dividend as represents profits accrued either prior to August ! or subsequent to 'December 31, 1870, excluding 'profits of-the last nve months of 1870. ; ' 1 ! Eighth Profits carried to the account ot n. fund on or after January 1,1871,- are subject to the same liability to tax as the dividends above described.1 So? much of such profits as t were earned 1 prior to August 1, or subsequent! to December 31, 1870, are taxable at the rate af 2 per cent. . : ": ..;''.-.,. Ninth Profits of the corporatibns pre viously mentioned, which were : earned or accrued within :: the, last ; five months of 1870, are not, taxable when divided or car4 ried to the account of a fund subsequent to December 31, 1870-: , r Tenth Interest falling: due an.d payable on or subsequent to January 1, J 1871, is taxable at the, rate of two and a half ,j?er cent., if such interest accrued :eitber prior, to August 1 or subsequent to- December! 31, 1870. ' From so much of H as accrued 1 within the last five jnonths ot,!87Q no tux whatever is to .be, withheld. - :r r . . . Eleventh Returns of dividends ; ad surplus profits by the corporatiops men-; tioned in section 15, act ot uly 14,,17U, should be rendered on fprm ; 65, and re turns of interest; on form; 68 as revised. ; Twelfthtr-All previous - rulings f, of this, office, inconsistent with these instruct j.Onsss are herewith revoked. : : . . A. Pleasanton, Commissiouer. Cotton too Much. . The Memphis Appeal says : " i It is too much cotton ? which: causes present low prices. J The receipts at Mem-; phis from September 1st to date are 10,975 bales in excess of the receipts for the whole of the big crop' season of 1859-60,' when the amount was 398,791 bales.' "The whole crop of that season was 4,700,000. In 1860-61, when the crop ' was 3,100.000 bales, the receipts here were 359,653 be3, or 39,818 bales less than received during a little more than one-half of 'the present season. Last season, " With a' crop of 3,150,000 bales, our receipts Were 290,737 bales, or ,118,729 bales less than the amount received this season to date. ' V The cotton receipts of Macon from Sept. 1, 1868, to Aug. 31, 1869, were bales 58,762. From Sept. 1, 1869, to Aug. 31, 1870 80,129 From Sept. V, 1870 to f March 8, J 3i 1871,' they have been. vv:" -95,720 Thus it will be seen that without count ing the receipts of yesterday we .are, N at this date, 15,591 bales in excess of 11 the receipts of last year, and 36,958 ih excess of those of the year before. Surely with such evidences of productive ! capacity as thei above we need not be surprised to see the? bottom ?rop out of 1 the market. Speculators and dealers, it is said, must carry a million bales over the summer, with the prospect of a heavy! addition to the! load from the next crop. 1 i Tbe increase in cotton production since thes war has totally deceived j the people. Few thought, any such result possible under the existing circumstance's. Where was the labor to come from ? In 1867, conversing with a pa! ty of very intelligent agricultural and commercial men, there was but one dissenting voice to the other wise universal opinion that the the South ern cotton crop would never: again exceed two millions; of bales. One; thought, on the contrary, it would grow very fast ; but he could not give any very satisfactory data to support the opinion.! -i- We mention these facts as same apology forjthesal reverse in the business of cot ton production. Every planter, while swelling his own cotton product, thought he was an exception, and that the South, considered as an unit, couldl not possibly overstock the market, on account of the sheer lack of physical force to do it. . We ourselves never anticipated so rapid a gain n consumption. We thought de mand would at. least; keep step with sup ply, and insure the planter a prosperous business for ma'ny years. Put we were mistaken, and the Unwelcome conclusion is now forced upon us all, 1 that cotton producing, as. a business, cannot promise, in j the future, any "signal profits. Only wlien it shall he attended . by a , system of general farming which shall economize the pursuit to the greatest possible extent, can it be lollowed with satisfactory results. Macon . Telegraph. . , -..-t . WILHINGTON AND WELDON RAIL- i-b: JiA0TX dnl ROAD. i)' -ibfVK.; .yu. In the course of his 'testimony before the Railroad Investigating Qommittee, at Richmond, a lew days since, Mr. R. R. Bridgers thus explained the manner in which the gentlemen irreverently termed the " Baltimore Ring" became connected with the Wilmington and Weldon Rail road : .'' '" ;; " In 1865 I took; charge of the road. Nearly all the rolling stock had been de stroyed (burnt up) during tbe war. Every bridge on' the road but one had been burnt ; much of the track had been de stroyed. The machinery had been taken frbm the shops ! at Wilmington during the occupation of the Federal forces. . A mortgage debt of about $750,000 was then 'due. One half of the road was not infuse. 1 It became necessary to create a j large floating debt, or give up the' road to ; the ' bondholders. ! This was' done in the fall of 1865, on the assurance tHat I could sell the bonds of the road in Europe. In the summer of 1866, in order to carry this debt I became personally re sponsible for it- endorsed it.i - I ' went to Europe, and failed in my negotiations. . I tried also, after my return in 1867, in Bos- ton, JNew lorK, ana jrmiaueipyiaana failed to make any negotiations in either place. The financial condition of the road during the fall of that year' being extremely critical, I applied; through a circular to several acquaintances ! in the city of Baltimore, inviting them1 to invest in the mortgage bonds oi, tne road. held jpersonal interviews with a number of promineri t gentlemen of : various voca tions. At that and subsequent times thev took between $600,000 and $700,000 of the bonds. I got several ot the gentle men who were pleased with the exhibit of my " roau 1 to s purcnase y souib bujvk in all amountins- to some 1,200 or 1.500 shares.' - 'In;-. tfthe : following winter there - was a combination in the Legis lature" of North Carolina to sell 4.00a i shares in the Wilmington ! and Weldon roan xo a nvat company., x xuimeui ately informed the bondholders in Balti more that if this stock went into the hands of the rival company it would greatly impair .the security .which they held. Upon consultation j they agreed to make the purchase, which they afterwards did.! About the same, time a similar effort was made to get 2,000 shares of i stock" belong ing: to the Wilminsrton ana Mancnester railroad in the ' Wilmington and Weldon road. I made known , this part also to them, and told them that if they would purchase this stock also it would give them a small majority. My understanding was that it was not bought as a ring or on a common understanding to hold for each other, but for an (investment, and that portions of it might be bought now for a fair consideration, a large part of the stocks yet being owned id the State of North Carolina, and it would take very little to transfer the control back to that State, a large majority of jthe directors living in that State, and THE MANAGEMENT J OF THE ROAD IN NO WISE INTERFERED WITH BY THE STOCK.) HOLDERS IN BALTIMORE, j . ! These gentlemen! have always assured me that they purchased this stock for in vestment, and have no intention of selling the same, and no transaction they have, bad has yet come j to my knowledge in which they had not previously consulted with me. - it i i 1 " , ! In seeking to purchase the stock of the Richmond and Petersburg I road, 1 1 have had no other purpose or. view except to get to Richmond as an independeut rail road centre and to increase the business of the road which I represent. As for the Petersburg and Weldon road, they had the same interest with the Wilmington and Weldon road, and we did not wish to pur chase the stock of that road unless to keep Zi. 4. C 1.1 I 1 jLif - ' 1 ' . A J. . it. uui ui we uHuus ui a rival. to jiir, Lyon's opposition to-the amendment to General Mahone's .charter, he did it not for me, and without my knowledge or consent. THE NATHAN MURftEBEB. The Assassin Known to the Poller Failure to Find Enough evidence Against Hi ni. 1 r-j" :; A story was published by u a morning journal yesterday in regard to the Nathan murder, in which I mention was ; made of the hitherto unpublished fact that a pro fessional burglar named Forrester had long.been suspected of being the assassin by the police. The , report noticed i the attempt to fasten the celebrated crime on William Forrester, through the confes sion which it was supposed i George Ellis, one of his "pals" in numerous burglaries, might : make, either intentionally or inadvertently. The statements made in the report were very nearly r correct, and were totally unlike a recent sensational and highly-spiced account of tbe -discovery of the Nathan . murderer, pub lished in the same newspapers. The Times announced the confinement of Ellis at the Sixth Ward: station-house several weeks agoj but refrained from' men tioning him by name, for fear that ' it would injure, if not - defeat, the plans ot the detectives. It merely stated that the prisoner r was suppossed to have " some knowledge Ot tbe murder,! although the reporter was in lull possession of all the facts in the case which, as it was believed, were not known to more than four persons. One of these was; the late- Superintendent Jourdan, whose! suspicions - fastened on Forrester frorri a remark which Ellis ; was reported to have made in the State prison, where he was imprisoned for burglary; ' It was told to the late Superintendent that Ellis had said, on hearing of the Nathan murder that he j planned with Forrester previous 1 to ' his arrest and sentence to "crack" the house of Mr. Nathan, Twenty third street. -'-l'f'-"v.'i j- -'.A --', Mr, Jordan promptly obtained a writ of habeas corpus from Judge ! Cardozo, and had Ellis brought from Sing Sing ' in a secret manner and placed in the Franklin street station house; where he was kept in the most rigid seclusion. Before Mr. Jourdan had sufficient time to elicit any confession trom Ellis, be died; leaving to Judge Cardozo, a relative of Mr. Nathan, and Judge Dowling, his most intimate friend, together iwith two other ! gentle men, the task of unraveling the great mystery, to which, he had : devo'ted his constant and unflagging attention, So guarded and close did he preserve his plans that if was not until after his death that Mr. Kelso, his chief detective and subsequent successor, became aware that he entertained any suspicions against El lis or, Forrester; " ; ; , After keeping-Ellis here for six weeks, he was sent back to State Prison without having peached on his "pal." In , consid eration of the premature publication of some of the minor tact$, about the detec tives' operations, it will not do any harm to mention now that Ellis has bten ' con stantly watched by a fellow convict ever since he I re-entered the prison d oors at Sing-Singi At 'one time the detectives thought that they, had enough evidence to make put a case against Forrester, hut they found that it was not sufficient to prove him guilty under the law. The be lief, however, that he is the man has al most strengthened into a certainty. N. Y. limes, 8th. :.. Death from Kxcess of Feellngr. i The death' ot Gottschalk, while at the piano, in the act of performing his tavor ite composition, "La ;MortetY is by no : means the first : circumstance of its : kind reiaieu :in music anu : uraiuniic iiisiorv. ' We recall immediately Moliere and his uMaladie Imaginaire." The chief person in the comedy was a sick man, which part was played by the author himself. It was the fourth night of the runi Moliere, sick and ailing, went on for the character ' and got through it until the - scene in which his "business"; was to fall dovjfh-as if dead. This he did so well that the audience and the persons in the play , were deceived; But, alas ! it was not acting, for the poor dramatist was dead in truth; - , " : Hughes, the dramatistfdied i.nan.hour after be received " the -account of the success bf his play : of the Siege 6t:Da mascusJ"'' j' ", Moody, the tragedian, died in the' mid dle of his perfdrmaoce' of :-j Claiidid,-' in "Measure for Measure." ; ;- -' ' Somewhat similar was the 1 death t ot John Palmer, for whom Sheridan may ; be: said to have written ?The : Sdhool for Scandal." The play was The Stranger.n. Palmerj who had been; like -Moody, beset with melancholy for some time before a ter uttering the line,-: 4iThere" is another and" better world," with touching ' pathos , suddenly paused, closed ;: his eyes, and' leaned;' upon i the 'Francis of1 the evening, Whitefield. He had spoken his iast wbrds on earth. ''-''' '' i-v4;' w: A. Edmund Kean's last appearance was In "Othello." Wheh he came to those grand' lines, hnow, forever, farewell the tran quil mind 1: Farewell content," he paused.; Then slowly, slowly, until'1 the music jot the last cadence became but as a breath: - f "Speak to them, Charles," 'whispering : to his son, "Lam dying." 'And so he was N. Y. Standard. ! ' Mutilated Money at the PostoClees. - A Tennessee. Postmaster recently enclos ed to the United States Treasurer a slip cut frdm a North Garolina paper, settings forth that the Postmaster at Hillsboro,5 N.. C, has been fined two dollars and; ninety IrtlloT-o nnata fnr rpfnaintt to receive mnti-; lated currency in payment for postage stamps, and says that since the appearance of thi$ article in print nis omce.nas oeen' flooded with multilated currency, andde sires to know whether he is compelled -'to1, take, or may refuse, the money so presented. Treasurer Spinner replies, stating5 that un-J der the rules of the Treasury - Department Postmasters are authorized to receive such 1 currencv for its full value ifl payment for post'agr stamps, when in case of U. 8. note not more than one twentieth of the note is missing, and in cases : of 1 fractional cur rency when not more than one-tenth is' missing. "-When such notes. and fractional' ttnrroftnv rft mntilitfrf.hovnnd thn utand- ard' referred to, no one is compelled to re--ceive them for any part of their value, unit thoTtnltr mona xxrhora cmnh nrkffna attl UUU WMV VMM' VIUWV 1. mwww - J to oe reaeemea is at toe-: umiea Dtak& Treaiury.
The Weekly Star (Wilmington, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
March 17, 1871, edition 1
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