lf68-'69.] Document No. 2. «•
The stock of the Wilmington and "Weldon Road will pro"
Ijkbly become again profitable to the holders.
3<Z. Cape Fe<ir Navigation Company.—The capital stock of
tiiis Company consists of one thousand seven hundred and
itinetj three and a quarter shares, valued at fifty dollai*8 per
siiare, or total amount of eighty-nine thousand six hundred and
iixty two dollars and fifty cents. Of this stock, the Literary
Fund owns six hundred and fifty shares ; to-tal amount owned
By the aforesaid Fund, thirty-two thousand five hundred
This stock is at present of no pecuniary benefit to the School
Fund. For twentj^-nine years ending M'ith September, 186S^
\he annual dividends punctually paid to the State amounted to
cBfJe thousand three hundred dollars.
The affairs of this Corporation are in a low and embarassed
eifedition, and demand the prompt and careful attention of the
Inasmuch, as this Corporation is a perpetuity, and the Cap«
Fear River must become a great Commercial highway, far b©'
jTond what ever yet has been the case, the franchise belonging
ft) it, is undoubtedly of great value, and can be made of essen-tial
aid to the School Fund. How this property shall be pro-ffected,
the Legislature in its wisdom must determine.
That your Excellency may fully apprehend the fact cofi»-
earning the present condition of this Corporation the accomj^
nying documents (marked A, B, and C,) are appended.
ni. 8WASIP LANDS.
By chapter sixty-seven, section three, of the Revised Stat-utes,
all the swamp lands of this State, not having been duty
emtered and granted to individuals, are vested in the LiteraiTr
Board in trust as a public fund for education and the estab^
li^hment of public schools. It is estimated that there areon«
million five hundred thousand acres of theee lands. According
to the report of Gen. "Walter Gvvynn, Agent of the Literary
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