The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1858-11-24

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apply the proceeds to such redemption
or payment, and to no other use or pur
pose whatever.
SEQ. g.. Previous to the first day o
January and July in each year, at ieas
two of the members of the board of com
m~issioners of the sinking fund, shall
cause to be conveyed to the city of New
York, a sufficient amount of money t.
pay the ~semi-annual interest then com
ing due on all the funded debt on which
the interest is payable in said city anC
on their arrival in said city shall give
public notice 10 some newspaper Of cur
rent circulation in said city, and BY
such other means as to them appear!
most proper, that they are present, anG
ready at the agency of the state, to pay
all such interest; and if the interest or
the whole of the outstanding stock OIL
funded foreign debt of this state should
not be demanded and paid before the
expiration of fourteen days from said
first day of January and July respec-
lively, then and in that caases, the said
commissioners shall bring all the re-
naming money back with them to the
scat of government, and pay the same
on the certificate of the comptroller OF
the treasury, las required by law into
the state treasury to the credit of the
sinking fund and if the owner of any
such stock who shall not have received
the said semi annual interest shall do.
sire to receive the same, the amount
thereof shall be paid to him or his agent,
or attorney, at the Office of the board of
| oo- h. kha rrorronk sc tha on
ditor of state drawn on the treasury of
state, on the requisition OF said commits
s~ioners, 10 the manner and form herein
provided and d. scribed; and in all cases
the interest on the funded debt of this
state shall only be paid to the owner
thereof, or to his or her legally author
lied agent or attorney.
SEQ. 9. A majority of the board of
commissioners of the sinking fund shall,
at as carly a day as practicable, after
the passage of this act, proceed to the
city of New York, and take possession
Of and bring to the seat of government
of this state, and place in the Office of
said board all and singular, the books,
records, papers, correspondence, certi-
6cates, engraved or printed, or written
paper, cancelled. or not Cancelled and
all money, property, assets and effects
of every description, belonging to the
state, which may be in the possession,
custody, control, or care of any ins;itu-
ton, company, association, or person
whatever, within said city, or at any 9th
er place.
Sec. 10. The said commissioners of
the sinking fund shall, at the same time,
make all the necessary arrangements for
an agency to be kept in some convenient
place in the city of New York, at which
the semi-annual interest shall be faith
fully paid on all that part of the funded
debt of this state, which by the terms
expressed upon the face of the certifi
cate thereof, is made payable il said
city !; and the agent to be appointed to
attend to the business of this state in
assisting the said commissioners in pay
ing the said interest, shall also act as
the agent of this state in receiving from
any person holding a certificate or GER
tifcates of the public debt as aforesaid,
who may desire to have a transfer made
of the same, 10 whole or in part, and
proceed forthwith to have such trans
lCE uu'1 uldQS III tAC ouh hCAOiu pAO
vided.
Sec. II. The said commissioners
and the said agent under their i~nstruc.
ton, shall prepare aud keep at the agen
cy of this state in the city of New
York, transfer books, and also stock
ledgers or books of inscription, in which
stock ledgers accurate and particular &C
counts shall BE- kept with every pubic
creditor holding a certificate or certif
Gates of the funded foreign debt of this
state; which account shall specify the
amount, date, number, rate or interest
and tho particular stock or portion Of
the public debt, as evidenced by each
certificate held by each creditor and in-
Guided in his or her account as aforesaid;
and the aggregate of individual accounts
must at all times exactly correspond
with the general accounts on the gener-
al ledgers, of each and of all such stocks
Sec. IL. In addition to the individ-
ual accounts as provided in the preced'
ing section of this act, the commission
ers of the sinking fund are required tc
keep, in their Office in Columbus, sepa
rate accounts in stock ledgers, known al
general ledgers, of every creation ant
issue of outstanding stock or certificates
of public debt, showing the date, rate o
interest, time of redemption, and The
law under which such stock was created
and issued and if practicable, the or
iginal order or act of the late board o
commissioners of the canal fund, upor
which all such certificates of such stool
were SO issued; the original amount o
each of : said stocks SO issued ; th,
amount of each redeemed or paid ; aDC
at all times the exact amount outstand
ipg.
Sec. Is. The said commissioner
shall in like manner keep accurate &C
counts in general ledgers, particularizec
as aforesaid, of all domestic stocks crea
ted by this state; the amount of eact
original issue, the date, the rate of in
t%erest, the law under which such issue
was made the amount paid or redeemed
and at all times the exact amount o
outstanding certificates thereof.
Sec. IA. The said commissioner
shall also keep accounts in said genera
ledgers, of the exact amount standing
to the credit of each class or portion o
the i~rredeemable, or irreducible stock
or funded debt of this state, being fund
held in perpetual trust by the state
arising from the sales of school aut
ministerial lands, Sc and on the prin.
cipal of which the state pays interest.
Sec. Is. Whenever a transfer o
any of the certificates of the funded for
eign debt of this state may be desired
either in whoIe or in mart nv anv owne