The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-12-17

M II. Pa - snss.s Z vAish ", ~ NV
wss - fsn6 rs or ths pszpsss = - J.ly interest;
so.ns.Iossss but he'd s.ss . Nss Yea 3 ssl -
money and expsctsd 70 nest ~ eonnissleasre thsvs
ms commissioners were surprissd They THAI ths
70 remit funds there they concluded to 60 TO New
Yos and soe hsrs the 18th june Ons Of them Tor
was unable to see him. The next day they called Il the
trapfsr Office. to ind out whether the treasurer had
placed funds there TO the book Of calculations and
to the Chloe 70 other place They told
there were funds not shown the book In Ques
ton found the business complicated and could not DO
They found also that terms had been inserted in the
bonds rendering them transferable only 1t office In
Trust Company had been engraved upon the bonds that
Of money left there meet interest
bonds former occasions had besn called Tor By the
up to the first Of June and bonds issued with Sls
gpaure that the cashier had nodod the Secretary OF
State that tho Trust Company would not pay, nor help
pay the interest unless appointed agent before clock
They obtained IN interview With Mr. Bresn the treas
he told them he had in New York enough Of the
To- P .p;
Perron living In New York who might b APPOINTED
transfer agent but would not pay 1t 70 MI rrevitt the
point another agent and told him 50 but he .ouly
peated his refusal" and said be would psy the interest
hmse unless they did appoint an agent living In New
Finding they had NO other resource, Dr. Trevit re.
signed his agency and they appointed the Trust Com
pany They then made ustion upon the auditor to
draw upon the treasurer in favor Of the Trust Company
the Of $4ls 22s7 6 for July Interest with distinct
notice to the treasurer of the State that they did
against their own consent and solely to protect the
public faith" The auditor forthwith made his draft the
papers handed to the cashier Of the Trust Com
pAny The interest was paid, but they OF the
money. They instructed the cashier to furnis them
Of the drafts and moneys which the trea
delivered to him this might enable them to dis
Of the ecret aad agcncien but they
wary ofkhf sty1pda w;r Dhoo
nix Bank and took certificate OF deposit to the Trust
Company Mr. Morgan directed the engrsvers to strike
out the Trust Company from the PLATES for printing the
certificates Of and to have eugraven thereon
Of the clauses Of the constitutions; andhe commits
sioners came home.
The report then argues the legality Of their appoint
ent Of the Secretary of State to act transfer agent
Treasurer should thus unnecessarily and uujustiaby
thrust himself between them and tho discharge OF the
plain duties Of their ocen and they animsdvert upon
his management Of the funds They recommend moro
explicit legislation They discuss different modes Of in
vesting the sinking fund declare they have intention
Of retaining the Ohio Life Insurance and Trust Company
transfer sgent and discam all responsibility for the
management OF the sinking fund until the constitution
thall be restored to Its integrity and true effect.
They recommend the collection Of either in
specie in convertible paper. They think the money
dsbursed at the treasury Office in Columbus to bs
coin, and nothing ele They say that foreign bauk paper
is disbused at the Treasury and thence along the pub
soners in charge Of those works. o character and de-
the payment Of which at his couner would
subject banker broker to prosecution and nen and
they declare that II the constitution has merely
brought men into Office without bringing in, also,
new policy it will prove an expensive and idle pageant