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1869-70.] Document jS\>. 33. 7
realized from tlie sale of bonds appears to have been applied
to the ordinary expenses of constructing railroads, as well as,
in small part, to regular expenses connected with the defence
of the Chatham Railroad case, as it is called. There is still
upon hand 8250,067.82. The evidence upon this item is given
bj Dr. Hawkins, and accompanied by an exhibit from W. W.
Vass as Treasurer.
VII. THE WESTERN RAILROAD COMI'ANV.
The proceeds from the sale of 55 State bonds and some cou-pons
are §51,193.13. Some $7,500 of this has been paid out
fov ordinary expenses, and the remainder, §4:3,693.13, is upon
deposit in the banking house of Jones & Lutterloh, at Fay-etteville.
Certificates were exhibited by the President, in the
names of Utley ik; Dougherty and L. P. Bayne & Co., of Kew
York, acknowledge that they hold for the company, unincum-bered
1,253 bonds ; and 12 other bonds were shown the com-mission
in the hands of the President liimself. The evidence
is furnished by Messrs. Jones, Davis and Lutterloh.
VIII. THE ATLANTIC, TENN. AND OHIO RAILROAD COMPANY.
It will be seen that no use has been made of these bonds in
connection with the end for which they were issued ; and no
use whatever except in connection with the action brought in
Wake Court, in the name of Eobert C. Kehoe, against the
said Company and State Treasurer, of which a transcript is
herewith filed. The object of that suit apparently was to
restrain the issuing of the bonds upon the allegation that they
were unconstitutional, and thus void. An injunction was
obtained upon that allegation. The suit, however, was com-promised,
and the injunction vacated before any term of the
Court had occurred, by the Company's agreeing to pay to the
attorneys of the plaintiff seventy-five bonds, after the same
should be issued. In the event, it happened that 77 bonds
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| Title | Page 845 |
| Full Text | u 1869-70.] Document jS\>. 33. 7 realized from tlie sale of bonds appears to have been applied to the ordinary expenses of constructing railroads, as well as, in small part, to regular expenses connected with the defence of the Chatham Railroad case, as it is called. There is still upon hand 8250,067.82. The evidence upon this item is given bj Dr. Hawkins, and accompanied by an exhibit from W. W. Vass as Treasurer. VII. THE WESTERN RAILROAD COMI'ANV. The proceeds from the sale of 55 State bonds and some cou-pons are §51,193.13. Some $7,500 of this has been paid out fov ordinary expenses, and the remainder, §4:3,693.13, is upon deposit in the banking house of Jones & Lutterloh, at Fay-etteville. Certificates were exhibited by the President, in the names of Utley ik; Dougherty and L. P. Bayne & Co., of Kew York, acknowledge that they hold for the company, unincum-bered 1,253 bonds ; and 12 other bonds were shown the com-mission in the hands of the President liimself. The evidence is furnished by Messrs. Jones, Davis and Lutterloh. VIII. THE ATLANTIC, TENN. AND OHIO RAILROAD COMPANY. It will be seen that no use has been made of these bonds in connection with the end for which they were issued ; and no use whatever except in connection with the action brought in Wake Court, in the name of Eobert C. Kehoe, against the said Company and State Treasurer, of which a transcript is herewith filed. The object of that suit apparently was to restrain the issuing of the bonds upon the allegation that they were unconstitutional, and thus void. An injunction was obtained upon that allegation. The suit, however, was com-promised, and the injunction vacated before any term of the Court had occurred, by the Company's agreeing to pay to the attorneys of the plaintiff seventy-five bonds, after the same should be issued. In the event, it happened that 77 bonds |
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