| From the Washington (Ark.) Telegraph |
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| March 11, 1863 |
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| Resolved by the General
Assembly of the State of Arkansas, That the Auditor of Public
Accounts b and he is hereby required to open an account on the books of
his office, with the Five per cent Fund, and to credit said fund with
the sum of $61,065.17, for monies of said fund received from the United
States under the compact between the United States and this State, dated
June the 23d, A. D. 1836, before the first day of January, A. D. 1841,
which sum was placed in the bank of the State of Arkansas as part of its
capital; and that said sum bear an annual interest of six per cent from
said last mentioned day; also with the sum of $1800, to bear a like
interest from the 25th day of May, 1849; and being for money applied by
the Secretary of the Treasury of the United States to the payment of
interest on the Bonds of this State issued to said Bank; also, with the
sum of $143,267.56, with a like rate of interest to be computed from the
several periods as reported by the Secretary of the Treasury of the
United States to the Executive of this State, as being due to said fund
and applied by the Secretary to the payment of interest on the bonds of
the State issued to the Real Estate Bank. And that said Auditor charge
said fund with the sum of forty thousand dollars, for stock subscribed
in the Mississippi, Ouachita & Red River Railroad Company; and with the
sum of forty thousand dollars as stock subscribed to the Memphis &
Little Rock Railroad Company; and said charge to be made as of the day
said money was paid to said several companies, appropriated under an act
entitled, "An act to authorize the Governor to subscribe for stock in
certain railroads herein names." Also, with the sum of one hundred
thousand dollars for money of said fund loaned to the Memphis & Little
Rock Railroad Company, at eight per cent interest, per annum, under an
act entitled, "An Act to authorize Internal Improvements; approved
January 3d, 1861;" the last mentioned um to be charged as of the day
said money was paid to said railroad company. |
| Resolved further, That
the stock so subscribed, as aforesaid, and money so loaned, shall be
understood, and is hereby declared to belong to the said five per cent
fund; and all interest or dividends arising from said stock, or money
loaned, shall be paid into the treasury of this State, for the sole use
and benefit of said fund; and shall be so credited by said auditor. |
| Be it further resolved,
That the Presidents and Directors of said several railroad companies,
be, and are hereby required to make and forward to the Governor of
this State, an annual exhibit of the fiscal affairs of their said
companies respectively; which exhibit shall be, by said auditor, laid
before the General Assembly of this State, together with a statement of
the condition of said five per cent fund in his biennial report. |
| Approved December 1, 1862 |
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