North Carolina Executive And Legislative Documents [serial] 1881
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Other parties own 1,070 shares, par value of which would 4 Document No. 14. [Session be $107,000. The market value of this stock is about $8 per share. The bond debt of the company is $4,000 per mile, only $52,500 of which have been actually issued. A portion of the proceeds of these bonds was applied to the extinguishment of judgments against the company. The remainder was applied to construction and payment of other debts. The floating debt on March 1st, 1880, was $88,412.17, principally in j...udgments, all of which have been relieved and the debt reduced to about $70,000, including $8,500 advanced for the State for the maintenance of convicts and for prosecution of the work. The interest on bonds of the compan} 7, issued have been promptly met and no lease or sale of any property of the company has been made, no suit pend- ing involving the title to any of the company's property, nor has there been any sale of any stock owned by the State. The gross earnings for the year ending March 1st, 1880, were ,$32,222.98 Operating expenses, '.
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