Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1859-04-01

and current expenditures, there .was left o.
should be S703,37o, Nov. Isl as he reported
but instead Of Gemanding an sexplauation
and the keys. OF The treasury, as Auditor
! Wright and Coy. Chase did when Glbsor
made a similar announcement, the .audityr
promptly proceeded TO hypothecate the, Sc
curltles he held in trust. Here 10 his letter
/ to Edgerton, inclosing securities, the two
always displaying one prominent virtue, we
canpot call u redeeming one-fdelity to
Breslin and his defalcatioh: -.
l1a. MORGAN TO EpsKRToN. ---g
| Enclosing .; s. Treasury warrants for Ss7,-
| 900, and orders to use $5l 900 on hand for
! investment in Ohio stock, inclulino az 900
| Astor Bonds. s e s,,ai -s Ea7 80
Office oFthe Commissioners of Sinking Fund,l
| Columbus, Ohio, June n, 1858.
| Hon. A P. Edgetton.
Ohio Transfer Agent, New York
Ny motive in placing thi amount in your hands
immediately, ID TO provide against a failure on
the. part of the Treasurer of State to- pfaoe ia
New York the full amount of the draft for July
interest. On last evening was waited ON by
meet the interest-in full by proper time. He
assured me, however, That the dencit would not
exceed III tlte utmost, one hundra8 thousand dol
lars, and sum, it loaned in New York by
Mii5 sde fhi4ts sheud 6s repaid in fn
need not state my very great surprise that
ME- Bresiin Should have withheld from tho Conn
mlssioncrs The remotest iutimation on this mat
ter until this evening. He states, however, that
he has been unex peetedly disappointed by GIN
einnati parties on whom he telied. still hope
that he may be able to meet the draft at rnatnfi-
ty. In case this is not done, you WIN please
furnish tAis olce written notice. of the faiiure.
ss .au.Y ~s& - vaWM- p: MORGAN,
4-f Acting Co ommissioners Sinking Fund.
Co. 4 l.4A
p, s. Mr:Breslin assures me, as already stat-
ed, that the stehct will, in no contingency, dix
coed one hundred thousand dollars. sShqald
this reasonable anticipation prove fallacious,
and there be an actual deficik greater than tho
surplus redemp lon fund in gou4 hands, "a she
bonds purchased from Mr.. Astor ($40, ,oO0J
might be used US hypothecation for addi-
tional funds -~ ~ ia-.s. IS 10
To this Mr. Edgerton replied, showing lte
impractability, not Improperly, OF re-issuIng
or hypothecating the redeemed stocks.-
Edgerton is also fearful the embarrassment is
not temporary, very singular fear ccnsid-
ering his experience in financieFing TO sav o
he treasurer. He is also convinced that
with public or trust funds does
lot pay:
EDGERToE- TO MORGAN.
State of Ohio, Transfer OsAcel
New York, JEue 80, 1855.
Hon. W. d. Morgan, Acting Commissioner-
Sir-Yours of tho 9th of juno, with the in
losures was received this morn ng. ~A%L#
learn with much regret by your letter of the
inability OF the Treasurer OF State place the
mount necessary for the payment Of tkaa intoF-
st on the Public Debt due on the LIST of Jdly,
Ii my hands on that day. l am fearful this
is not temporary. The TreaSu-
er has now in my hands,
Balance to his credit Sl2S 442.82
Drafts due to day and
july I'd 1872 ,959. .31-261 ,S07.12
,he drafts due to day and on the I'd will un-
oubtsdlt be paid. There is standing to the
rcdit OF the Sinking Fund SI93 ,SsI.1s, so that
here is already i'll my hands sufficient amount
or the interercst due on the LIST of July. lam
leased to know that tho thus at
and, and am convinced by the present embar-
u ssments of the Treasurer that there is no
afety in tampering with public or trust
md. On reflection you win perceive
hat your sugge- ton of raising any deficit there
light be i'll the interest fund by an hypotheca-
on of the stocks bought of MIR. AstoT, could
OF be carried our because those stocks have no
,nger any existence. The certificates are All.
eled on being surrendered, nder your inst-uc-
ons to that effect, and cannot be again re-is-
led to any one. So with the stock of 1890
urchased utId cancelled, il cannot in case ofs3n
he re issued hypothecated, assit
rs no longer any existence. Eass-31
A. T. EDGERTON, Tr. Agent
The following is statement OF Edgcrton
Morgan, of the funds in his hands, The
lem. shows those applicable to payment Of
rterest, being deficit of $y7, ,55S 5s.s 1t
ill be remembered that previous to the pay
tent Of the July interest, is the flush time
the state treasury, and that there could
OF have been less Than million nominaliy
1 it: