Plymouth advertiser. [volume] (Plymouth, Ohio) 1853-1988, 1854-07-08

cent ttock OF The tuuded ueOl OF .lsis
State, or TO sell, OF otherwise dispose OF,
Tor money ,anysnd ell Of he ,hsres Of SO X
held by the Sale. in any Of the rail road
companies, canal companies. snd turnpike
companies OF this State; Provided, that
such shares Of stock shall in no case be
sold, or otherwise disposed Of, except upon
cash pa, meni therefor and in no case
shall any such shares be sold, exchanged,
or otherwise disposed OF, at less than the
actual cash value Of The same. Should
such commissioners be unable 10 ex-
change said stocks for certificates OF the
funded debt Of the State, they my, al
such times as they may deem proper, sd-
veItise that proposals will be received by
them, at their Office in Columbus, for the
purchase Of any or all Of said stocks
such notice shall be published in such
newspapers as they may direct, and shall
be given at least ninety days before the
time fixed for opening said proposals. =
Proposals shall be considered without re-
spect TO the number of shares bid for, and
the sale shall be awarded to the highest
bidder; Provided. that nothing in this
section contained to compel the Sinking
Fund Commissioners 10 exchange, sell. or
otherwise dispose Of any of said stocks,
at less than the par value thereof, unless,
in their opinion, the interests of The State
will be promoted thereby.
Sec. 2. The Commissioners of the
Sinking Fund are hereby further directed
in case such shares of stocks are sold. or
otherwise disposed OF for money, TO apply
the money thus received to the Sinking
fund, 10 be disposed Of in the redemption
CT outstanding bonds of the State, or the
purchase Of United States Stocks, as pre-.
scribed in section six of San act 10 create
sinking fund for the payment of the
principal and interest Of the public debt Of
Ohio" passed March fourteenth, eighteen
hundred and fifty. three, for the application
of other moneys belonging 10 the Sinking
Fund.
Sec. 3. That section six of ssn act to
create a sinking fund for the payment of
The principal and interest Of the public
debt of Ohio,' passed March IA, l643,
be so amended as to read as follows Sec
6. That whenever an amount of money,
applicable to the payment of the princ-
pal Of the public debt of the State, shall
have accumulated in the Treasury, equal
to or exceeding the sum of ten thousand
dollars, in addition to the amount neces>
sary to pay the accruing interest for the
year, it shall be the duty Of the Commits
sloner of the sinking fund to Immediately
apply such moneys TO the redemption of
SO much of the outstanding bonds of the
State; Provided, they Can be obtained at
their par value and ifnot, then said Com
missioners shall, (as in their opinion will
best subserve the interest of the State,
apply them to the purchasing of the out
standing bonds Of the State of Ohio at the
market price thereof, Or invest said mos
neys in stocks of the United States. bear
ing ra of interest not less than five per
cent. per annum and in case they invest
said moneys. Or any part thereof, in
stocks Of the United States, said stock S
shall be deposited with the Auditor ol
State. and by him safely kept until out
standing bonds of the State shall become
due, or can be purchased upon such terms
as it will be the interest of the State to
convert said United States stocks into
money, Tor the purpose of purchasing or
redeeming outstanding bonds of the State
TO convert said United States stocks into
money, for the purpose Of purchasing or
redeeming outstanding bonds of the State,
at which time said United States stocks
shall be sold, and the proceeds thereof ap.
piled to the redemption or purchase of said
outstanding bonds, and 10 no other use or
purpose whatever and full and detail
nd statement of their proceedings therein,
shall be reported TO the General Assem-.
bly,, at each session thereof and in any
year in which there is no session of the
General Assembly, then said report shall
be made to the Governor, who shall be
made to the Governor, who shall cause
the same to be published
Sec. 4. That section seven of the &C;
reciled in the preceding section, be SC
amended as to read as follows: Sec. 7.
Whenever an opportunity shall offer fol
the purchase Of the bonds of this State. in
pursuance Of the preceding section ol
his act, the commissioners Of the sinking
fund shall make requisition upon the
Auditor of State for an amount sufficient
to pay the bonds so offered for redemption;
if said commissioner shall determine to
invest any moneys in stocks of the United
States, then a like requistion shall be
made for an amount equal to the proposed
investment; and for either purpose the
auditor of State shall, in pursuance of 6
requisition, draw his warrant in favor O
the person or persons named in such re,
QUESTION, by said commissioners, and the
same shall be paid by the Treasurer o
State.
Sec. S. That the eight section OF III,
act entitled "an &C, to define the duties O
the Commissioners ofthe Sinking Fund,
passed April 10Th, 1852, be, and the same
is hereby amended as to read as follows
Sec. 8. 1t shall be the duty of the Com
missioners Of the sinking fund, to selec
some suitable office, or place in the cit,
Of New York, and 10 appoint an agent VIII
shall reside in said city, and shall hold hi
office for the term Of two years, and unit
his successor shall be duly appointed an