Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1857-02-05
SENATE.
FRIDAY, January 80, 1885,

FRIDAY, January 80, 1857.
Prayer by the Rev. Mr.. Smith,
The President pro tenn, presented the petit
ton of sundry citizens OF Ohin and stock
holders OF the Lake ahd Trumbuil Plank
Road Company, for the passage of law for
the sale of said road to pay the creditors Of
the SINE. Referred to the committee Oh
Corporations other than Municipal.
NJ. Brand, from the committee on Rail-
roads and TurnpIkes, reported back the bill
to amend the act 10 provide for the creation
and regulation of incorporated companies in
the Stute of Ohio, PISSED May !, 1859, and
recommended its passage with one amend
mcnt, adding an additional section. The
bill, with the pending amendment, was COM
mittrd to the commitree Of the Whole and
ordered to be printed.
On mutlon of Mr.. Buckland, the House
bill ceding the jurisdiction over certain lands
in Lucus county, to the United States, was
taken from the table, and the question being
Oh the passage of the bill
Mr.. Kelley moved to refer the bill to a
select committee, with instructions to
amend, as proposed by him yesterday.
The motion to refer was lost, and the
question then recurring on the passage of
the bill the yeas and nays were ordered, and
resulted yes "a. nays 5. So the bill pas
sed.
iIr. Brazae, on leave; introduced bill
to enable the commissioners of Licking
county TO sell Curtain lands. Read the fist
time.
Mr. Ca.tell, from the committee on Agri-
culture, on leave, introduced bill which
was read the fist time to promite agricultu-
raj education.
Mr.. Brand, on leave, also introduced
bill which was read the first time, - amend
the act to encourage the Urganizat on of Fire
Companies.
On motion Of Mr.. Griswold, the Senate
resolved itself into committee of the whole
Mr.. lleatun in the Chair, on the orders Of the
day.
After some time spent in considering,
amend; ing and discussing the bill regulating
the mode of administering assignments in
trusts for the benefit of creditors, the c.,m
mittee rose, reported progress, and asked
Leave to sit again, which was granted
Mr. Taylor of Mahonng, presented the
report of the joint investigating committee
on Finance, which was laid on the table and
ordered to De printed.
Mr.. Taylor of Maho ming. asked and OBJ
tanned leave to absence until Wednesday
next.
Mr. lawrence asked and obtained leave
o absence, after Tomorrow, until Tuesday
morning next.
The Senate then took a recess.
SINKING FUND COMMISSIONERS REPORT.
The Speaker laid before the House COM
munication from the Commissioners of the
Sinking Fund, in reply to reso ution ofthe
House asking for information in relation 10
the bids tor State Stocks during the past
year, which was laid on the table TO be |
printed.
The commissioners state that in pursuance
of the law to provide for the paymen; OF the
public debts, due January / , 1857, amount
ing to So sos, ,7O9,79, notice was published
in New York, London and Paris journals
that proposals would be received at the Of
flee OF the Ohio Transfer Agency until the
lst day Of Octo Der, !or loan OF 50 400 900,
for hich certificates of Ohio State Stock
bearing six per cent interest, and redeem
able at the pleasure of the State after Dec.
3,ss56, would be given in pursuance of
w".@n notice. some thirteen bids were re-
ceived. ranging in amount from $4,000 to
$3.50, 900, and at from . to 7 per cent pre-
MUM. small amount at 8, 9 and 10 per
cent. premium. One bid for the whole at
, per ce IT., and one bid for the whole
amout at 81 per cent. premium.
Upon the examination of the bid It was
found that from 81 down TO 2Per cent. there
were bids for s53O,000 from 1 to 81 per
cent premium. bids tor S759 900, from 6 to
u per cent. premium, bids for S590,OOO-
S92 500 at per cent, $500 at9 per cent
and S5 900 at 10 per cent. amounting to the
aggregate of 81, ,ssl 800, leaving balance
of S5l9,500 to be provided for, for which
there appeared to be no demand, either
speculative or otherwise. In view of the
case, the commissioners were compelled TO
do one OF two things, viz: TO accept the bid
of 81 per cent. premium, on the whole
amount, and open "stock jobbing office
and take their chances in the market for the
sale of some $l,OOO,ooO for which there
was no bid over )! per cent. As the Com
missouers wers unwilling that the State
should be presented in the humliatng atti-
tude of stock jobber, hawking his own
bonds in the market, they accepted the bid
of IL. A. Johnson Il Co., for the whole
.mouu, Of the loan at 3! per cent, premium.