The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-03-28

tanned IN the boz, when o. I'll know near oceo hsA
been redeemed The sxac deficit Il stated by the 0en
mittee avs and Means to be 1913 bonds What has
become Of these bonds tho undersigned does not know
II Is possible and indeed probable that they boxed
up In one OF the old Offices OF the agency in the city Of
New York. But wherever they mar be. they Of no
except purposes OF reference and cannot u
way iDjuIiousy affect the interest OF tho state Thg
have and every of them been taken up And dts
charged the Of stock in their stead and tho
records Of the agency contain the full evidence Of the
fact.
That the process of redemption may be more readily
understood the undersigned begs leave to specify the
manner In which bonds taken up When bond q
ing satisfied Of its genuneness and by reference to the
numerical register, that bond Of that number
that is in . book denominated the "Bond Register"
wherein is entered the Of the party surreDdsrag
the bond, and opposite thereto the number of ths
bond its class character nc. The bond is then oan
celled by punching one or more holes through 1t.
That this process has the effect of annulng the bond
and all liability Of the State arising from no one il is
presumed can question The bond may be afterw ards
lost stolen but avail nothing in the hands Of
person for it is discharged and satisfied and bears
ton Of the bond showing its number, cass character
&C. safe check provided even without cancellation By
puDchipg against second surrender of the bond
But with the addition OF cancellation possible dicu-
ty could arise from the loss theft Of any number II
the bonds
During the first four months after the taking effect Of
the state debt act Mr. NJ G. Bright being then Agent Of
State zoos bonds rs appears from his report were sur
above bonds ID amounting to $4,000 These bonds win
the exception Of few received at the Office OF the agency
after his departure from New York, were brought homo
with him. and placed at the disposal Of the Legislature
He that they be for purposes Of
reference and that they should BIO kept at the Office q
the agency, until at least the remaining outstanding
bonds had been brought in until it certain that
would be surrendered and at his request oins
committee Of the two houses was appointed to examine
the bonds and compare them with his accounts.
That committee (ee Houseourna lS47, page sl2) re-
ported that they had examined and counted the tends
and the coupons thereto attached and compared then
with the books of said agent and with his report and
found them to correspond with the registry thereof and
with his repor-excep that there wanting certain
parcels of bonds surrendered by parties named to the
number Of about 172 which had been left for exchange
New York for home and in consequence, still remain In
the Office IN New York They also found one coupon
missing from the bond Of Richard W. Woods The
committee further port that the bonds and coupons
examined and counted all properly cancelled and
put in packages and marked as to aIod an easy
and Speedy refereI either to said tonds or books
wherein they conveniently and Systematically re-
gistered.
The nun Der OF bonds redeemed since that time by M
immediate predecessor and myself, amount to abeut
LEGO 1t follows therefore that if 900 and odd bonas
have been lost portion of them, at least must be o
the bonds thus endered to Mr. Bright whoh ~
they have been duly regtsred and cancelled
from the foregoing report of the committee would BIZ
worthless to tho finder blank paper. They could
be of service 10 one but the State, and only ID
II for purposes of reference and Of detoct
ing and correcting
The bonds surrendered to the undersi med up 10 the
time Of forwarding the tox before refe red to- all
contained therein and deposited in the Office OF the
Treasurer Of the State They all properly cancelled
in the manner before stated.
In view of this all.gei loss of bonds and of the dis
crepancy that exists between the accounts Of the Agent
and Anot0r of State the deems it, not only
proper. but duty TO ask that suitable and
petep person be appointed to examine generally the az
fairs of the Office in New York and report upon them to
the legislature officers of State.
All OF which is respectfully submitted
A. MAY, Agent Of State.