The American annual cyclopedia and register of important events of the year Volume 12 - Softcover

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1873 Excerpt: ...ffi Lexington Railroad Company 7 S6.00O 00 2,178 shares of stock in Lexington & Frankfort Railroad Company. 108.900 00 Bonds of Louisville & Frankfort Railroad Company 74.519 50 Stock in turnpike-roads 254,433 96 Amount borrowed by Revenue Department under sundry acts of the Legislature 207.919 IS Total resources 12,420,882 7S In addition to the foregoing resources, the State has unadjusted claims against the Federal Government, for advances made during the war, amounting to $505,478.52. Holders of the bonds have been notiBed of the readiness and desire of the State Treasury to pay the principal, with accrued interest and without discount, but they have declined to receive the money and surrender the bonds. While the sinking fund yields more than is required for the redemption of the State indebtedness as it falls due, the revenue is insufficient to meet the expenses of the government. The Governor for two years past has urged upon the Legislature some action which should remedy this difficulty. In his last message lie recommended that the Commissioners of the Sinking Fund be authorized to invest so much of the cash and cash assets on hand, belonging to the sinking fund, in 5-20 bonds of the United States, or other equally good and convertible securities, as will be sufficient to pay off the outstanding redeemable bonds, and that such securities should be held by the commissioners for that purpose and no other, and that all the other resources of the fund, "except the five cents now imposed by law on the $100 of taxable property," be diverted to the revenue proper. The amounts paid out of the Treasury during the past two rears to various charitable institutions and other objects named, together with the revenue collected and the surplus re...