State Considers Selling Shares in State Railroad, March 25, 1922

Will Consider Sale of State Railroad

By Max Abernethy

Raleigh, March 25—Appointment of a commission of five members by Governor Morrison to consider the feasibility of selling the state’s interest in the North Carolina Railroad and Atlantic and North Carolina road was announced yesterday.

Col. Beneham Cameron, Statesville, is chairman; Maj. W.C. Heath, Monroe; C.W. Bradham, New Bern; Tom Bowie, Jefferson; and A.J. Draper, Charlotte, constitute the commission named by the governor. Colonel Cameron and Mr. Bowie were members of the 1921 Legislature, and it was that body which enacted a law authorizing the appointments of the commission. Recommendations, if there are any, will be made to the 1923 Legislature, and in the event the commission has none to offer it is expected to make a formal report of some kind.

The State’s interest in the two roads is well up into the millions, although nobody knows just how much. It cannot be determined just what the State could get for its railroad stock until it goes in the market for bidders. Governor Morrison has insisted several times that North Carolina’s interest in these railroads would liquidate the State’s indebtedness.

It was Mr. Bowie who proposed the sale of the railroads with the suggestion that the proceeds be used by the State to develop the “Lost Provinces” in the western part of North Carolina, including Ashe, Alleghany and adjacent counties. The East, Mr. Bowie insists, is well provided with railroads while the Ashe-Alleghany section has none. Commissioner of Revenue A.D. Watts expects to find several thousand citizens who should have made their income tax returns to the State department but who overlooked it. The final date is May 15, although taxes paid after March 15 will be paid with a 5 per cent penalty.

“We are not checking the list we sent out with the returns which have been received, said Col. Watts today. “We are very busy, but who has not and why.”

State Treasurer Ben Lacy is spending several weeks with relatives in Fayetteville recuperating from a severe attack of illness which came upon him while he was in New York City signing $4 ½ million worth of North Carolina bonds.

From the Hickory Daily Record, March 25, 1922