Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1836-02-05
REPORT
hEfOhI
OF THE
CANAL FUND COMMISSIONERS.
To THE Hon THE GENERAL


In compliance with he law defining their
duties, the Commissioners Of the Canal
b Fund beg leave herewith 10 submit
their Annual Report.
Under arrangements made two Years
since, your Commissioners are still ena.
bled through their transmitting ageGts, TO
meet with punctuality) the interests semi
annually, as it falls due in New York,
which has been placed there free of cost
ts the. State. It's source Of gratifca.
tion TO them, 10 be enabled 10 represent,
that our financial credit still remains un-
impared, and that the Ohio six per cent,
stock sustans its ascendancy over SINH
lar stocks ofOur neighboring States; that
notwithstanding the general depression
now experienced in the stock market, o
hio stocks is eagerly sought after, and
sells readily at an advance of from eigh-
teen to twenty per cent, at home, and is
purchased with avidity on the same terms
less the difference Of exchange in E rope.
but your Commissioners are not entirely
undpprehensive, that a dimlnution Of the
pledges for sustaining said stock, may
have an effect upon its value, and on the
ability of this board to obtain future loans
if they should be required.
In accordance with an act Of the last
session Of the Legislature, authorizing
this board to loan sixty thousand dollars
OF the Ohio Canal Fund, to the Miami
Canal Fund. your Commissioners, on the
25th day of April last, transferred that
sum lroM the general Canal Fund, and
deposited the same in the Lancaster Ohio
Bark, subject to the checks Of Samuel
Forrer, Esq. Acting Canal Commissioner
TO meet requstlon previously made by
the Canal board; which sum, together
with the proceeds of lands received from
time 10 time, applicable to that work,
has enabled the contractors to prosecute
their respective jobs, without embarrass
menl, leaving balance of eighty seven
1housand forty four dollars and fifty three
cents, to aid in the completion of that
part of the line, now under contract the
present year.
IT, compliance with The provisions Of an
act Of the last GeHeral Assembly, auhori
zlng this board 10 loan to the Milan Canal |
Company, fifteen thousand dollars of Inc
Fund under their charge, after some hesi
talion, but upon receiving from saM com
pany, security for the faithful application
of the money, aud pledge of their Cana!
with its emolumeDts, for the payment OF
the Interest semi annually, and the final
payment Of the principal, your Commis
sioners loaned them the amount spec
fled in the act referred to, and deposited
their bonds, and all tbo papers relating
10 The same, with the Treasurer of State.
On visiting New York last Spring, this
board was enabled TO procure an interest
on one hundred thousand dollars, of the |
Fund deposited there, equal IN amount, to
that required by the General Assembly,
without being under the necessity of with
drawing it from their original agent in
that city.
At the request of The Canal Commits
sioners, this board, in obedience TO the
law defining their duHos, met with them
at Columbus, in July last, and entered ia
to general examination Of their ac-
counts from 1925 up to the commence
ment of the past year. 1t was work of
considerable magnitude, and required
both time and care. But owing to the ac
Curate aud detailed manner 10 which
those several accounts were kept, the la.
Dor was greatly facilitated, and in a few
days the different accounts were satsfac.
torily adjusted, finding, agreeabIy 10 our
accounts aud their exhibits, in one in
stance, balance of about nine hundre d
dollars, in favor of an Acting Commits
siOner, and in other, balance of about
an equal amount in favor Of the State,
both Of which accounts, we're closed by
transfer Of the balance from the one to the
other.
STATEMENT OF THE OHIO CANAL
FUND.
JaaUary 18th, 1885.
Balance reported Jan.
: 10Th 1885, $592,O2O 73 6
Received of Auditor OF
State, 1853, 0l3 Gl 6
Interest on deposits in
Manhattan Company
New York, up 10 Janua
ry lst, 1885, 5,6G2 76 0
Total amount ofreceipts, $95l ,597 IL 2
DISBURSEMENTS,
loaned Miami Canal,
$4,000 90
Miami Canal Fund, repot-
ted by Auditor Of State
in error as Ohio Canal
Fnn1 l5015 so