The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1859-04-01
"OrFIcE OF COMMISSIONERS ov
SINKING Fun. Ca,r,sassrp-6-
Drcrnibar 4. 1Sh4

"OFFrcE OF COMMISSIONERS ov
slsklSS EgSn. vssrzsus, 8 evssi....ssus-6 e
December 4, 1854 }
Hon. A. p. Edgerton, Ohio Trans
fer Agent, Now York:--Postscript.
The Treasurer Of Stat has sold to
me Oh behalf Of the Fund Commits
sioucis, the entire amount of the
stocks ofthe Canal Bank, on deposit
in his office"
The liark had failed and these
stocks. held for redemption of its
notes, Morgan expected to get hold
OF somehow. Perhaps it was after.
wards discovered by these dclectable
financiers, that this private arrange
ment could not DO carried out under
the law, which requires public sale.
These stocks which Morgan, Dccem-
ber 4, reports that he has bought for
the sinking fund and proposed to re-
cue, were advertised December Il, :,
and sold December 20, at public
sale. and Mr.. Morgan, as Fund Com.
missioner, bought $40. .45S OF them.
Now, note how the Auditor in his
report as Fund Commissioner, Janu.
sry 13, covers NJ all this financial
shining and hypothecation and re-
issue, and compare his reason for
selling the United States stocks in
his sworn report, with those he gave
Atkinson in his letter of November
%.
Extracts from the Semi Annual
Report of the Commissioners of the
Sinking Fund to the Governor OF
Ohio.
OFFICE OF COMMISSIONERS OF }
SINKING FUND, COLUMBUS, O..
January l3, 1857
Hon. William Medill. Governor
Of Ohio:-Sir: At the
usual time OF making provision for
meeting the semi.annual interest due
on the frat day Of January, or the
J0reign debt of Ohio. the condition
of the money-market throughout the
country was, (and yet is) exceedingly
unsettled. And amidst the general
revulsion, which seemed every where
to prevail, several OF thebanking in
stitutions Of Ohio had already sunk
into hopeless bankruptcy. For these
and other reasons " the Commits
sioners deemed it inexpedient and
unsafe to instruct the State Treasur
or to exchange the interest money
in his possession for time bills on
New York, as had been customary
Instead, therefore, OF issuing their
usual requisition, they made their
order on the State Auditor for his
draft on the treasury Tor par funds
payable directly to the State Agent
In the month Of November last, it
WAS deemed best. in the judgment OF
the Commissioners, to surrender,
without further delay, the bonds OF
the United States, purchased in Au-
gust and September, 1853, a tempo
rary investment ofthe Ohio sinking
fund, and to apply the proceeds
thereof as early as p acticablo to the
purchase OF Ohio stocks.
In June Bresl'n. who somehow
perhaps the Treasury Commission
'7ill explain-hsd the free use OF
these men, notified Morgan that he
could not meet the July interest. -
Here 10 a letter to Ejgerton, in
closing securities, the two always
displaying one prominent virtue, we
cannot call il a reedeeming one
fidelity to Breslin aud his defal-
cation:
MORGAN To EDGEBToN,
[Enclosing three United States treas.
uIy warrants for SS7 900, and or.
ders to use $54 900 on hand fol
investment in Ohio stock, in.
ciud.ng $44 900 Astor Bonds:1
OfFIoe OF COMMISSIONERS or
SINKING FUND, COLUMBUS. o.,
june 27, 1867
Hon. A. p. Edgerton, Ohio Trans
fer Agent, New Yore--Dear SIR
NY motive in placing this amour
in yonr hands Immediately, is t,
provide against a failure on the par
ot the Treasurer OF State to place il
New York the full amount of til,
draft for July interest. On las
evening, | was waited on by Mr.
Breslip, and notified OF his inabilit,
to meet the interest in iull by prop
er tune. He assured me, however
that the deficit would not exceed, a
the utmost one hundred thousan,
dollars, and that the sum, il loane,
in New York by the Commi issi ouerr
should be repaid in full within thirt
days.
] need not state my great surpris
that Mr.. Breslin should have with
held from the Commissioners the re
In6tsst intimstioD on this matter an
Gil this evening. He states, how
ever, that he has been uDexpectedl
disappointsd by Cincinnati partie
ON whom he relied. I stili hon
thak be may be able 10 meet the dra
sfmafurity. ia case ihis is not don,