The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-08-12
THE SOLDIERS AID FUND BONDS.
Important Report from Comptrollel
Brennan.


Important Report from Comptroller
brennan.
FigAxcr DEPARTMENT
CONTROLLERS OrFicE, August 8. 1853. J
To THE HONORABLE THk BOARD OF AIpERMEs:-
GEhIIxMhs-i have the honor 10 acknowledge the 70
cept OF the resolution adopted by your Board eth
day of july 1868 directing tho 10 rep ri the
rate Of premium received by him upon such soldiers Fa
mly Aid Fund bonds be may have issued since the
day Of January last, the such stock issued
since that date, the names Of all parties TO whom
chaser also full statement the bids made for the one
million dollars Of Central PARK additional fund stock
day the 2th of June 1888 setting forth the names
Of the several bidders, with the several Offers par
was awarded the premium paid by each and the
while am grathed at the opportunity which this re.
solution affords Of presenting all the relating
the stock and bonds negotiated by this department
since have been in Office, cannot Justice TO the pub
lie interests refrain from referring the circumstances
attending its introduction and passage your Board
The member Of your Board from the Eleventh district
who introduced the resolution makes 1t the pretext for
gross aud wanton attack this department which
had other foundation than his malice and which
dstrust in this department at perod. great pubic ext
gency when the duty about TO be imposed upon OF
obtaining oy loan the amount REQUISITE 70 relieve our TEL
low citizens from the onerous burdens Of the Conscrpton
act OF Congress.
In the impartial discharge Of the many important
responsible duties OF this department am compelled to
dsappont the aspirations and expectations OF members
Of the Common Council well private individuals. In
the animosty OF the disappointed which Is mani
tested In all the ways which their peculiar abilities may
But IL my purpose pursue the course which have
marked out for myself OF executing the responsible trusts
which have been committed TO my charge by my fellow
citizens without fear or favor, and am prepared
to take all the consequences II l we're not ]
would not be worthy Of my office. have an abiding
faith In the good sense discrimination and justice Of the
people Of the city OF New York.
y s my desire to act in harmony with your Board as
well the other branch OF tho Common Council and
unjustiabe act will be committed by 10 disturb the
official relations necessary the prompt and effective
discharge OF the public duties devolvng upon US In
common.
But it proper for me to that while am prepared
every act promptly and courteousy which my duty
demands no attempt at Intimidation other
hostile action from any quarter will swerve me In tho
least degree from what conceive the mandates Of duty
70 require invite the closest scrutiny into all my off,
ca acts and ask favor orbearance at your hands
The facts which this communication presents are an
abundant answer to the attack to which have adverted
1t will BIO that have been able to negotiate all tho
bonds issued 10 aid Of the fund for the support OF the
families OF soldiers the rate OF interest on which has
been fixed by at Eve per cent po annum while such
bonds had previously been issued at at Elk and seven
per cent per annum do not refer to these facts re-
Election the administration Of predecessor the late
Hon. Robert T. Haws for he deserved enjoyed the conf
dence q the public to an unlimited degree and he obtained
believe, the best terms which at the time he could So
But make this reference to show that have
taken advantage or the improved condition Of the money
market during term, and that the credit OF the Corpo
ration remains unimpared
have also been enabled TO negotiate all tho temporary
loans OF required for the support OF tho municipal
In regard to the one million dollars stock for the pay
ment Of the amounts LOT the extension OF the Central
Council in passing the necessary ordinance authorizing
the oan the bidding for this stock was made at most
unprOptious state OF the money market-at the time
when the rebels had invaded Pennsylvania and when In
the general panic to the ultimate issue Of the move
ment all business affairs became unsettled, capitalists
alarmed aud financial interests suffered accordingly
II the ordinance had been adopted by the Common coun
Gil promptly when presented by me II would have made
a large difference in the premiums
To guard against these deprecatng Influences as far
possible this loan was concerned the Commits
sioners Sinking Fund.- my request subscribed
nearly half Of the amount Of the stock at the
rate OF the premiums offered.
All the facs presented In this communication are and
have been matters Of record in this department These
records 70 inspection at ali times especially BY
members Of the Common Council. The Stock Bureau Of
this department s In charge OF the gentleman Mr. Dixie
man. who has been in that position nearly twenty
years. He unknown 20 mo at the time entered
tho duties OF my Office but retained him. disregard
personal and political claims because believed him be
an upright aud capable ofcer and that his experience
submit that It would have been more just TO this de-
partment and more m harmony with the dictates Of
have examined these records 30 accessible At all times
before rising in his place and making unwarraatabc
assault on the fidelity OF the department.
may be permitted TO advert TO conspicuous feature
Of the resolution itself 1t requires the Comptroller to
diers' Family Aid Fund bonds since the LIST day Of
January last the amount OF such stock since
that date, tho names OF all parties 70 whom such stock
has been sold" &C. Not dollar OF stock been
authorized or issued for any such purpose. t was
deemed INCEPTION movement
add the indebtedness city for the relief
proposed but issue temporary bonds special &C.
standing by ITSELF Tho author OF the resolution
appears either 70 have been OF the difference
tween stock and bonds or not TO have known the
connected with tho provisions Of law and ordinance
passed the subject. II doubtless would have been
proper In him 10 have spared the haste with which
he has assaed this department TO acquire this primary
knowledge TO have become acquainted with these ee-
mentary facts.
with these the remarks which accom-.
panied the introduction OF the resolution and which
It's passage appears 10 have been based, which
sidcrcd It my duty 10 make will proceed TO give de-
tailed OF the facts called for by the
When came into Office found that the Common Coun.
Gil by ordinance adopted the 6th day OF Novcm
ber 1852 bonds 70 be issued the OF
1865, in aid OF the Volunteer Soldiers Family Fund
This ordinance had not been confirmed by the
the authority TO issue these bonds rested wholly
the ordinance OF the Common Council The in
tercs upon these bonds fixed by my predeces-
sor ut SIX per per annum and he bad nety-
three thousand hundred dollars thereof par the
application Of parties desiring such temporary invest.
ment.
on the like application and the same terms tho re-
mainder bonds thus authorized issued by this
department between the 9th and 18th days Of January
1863 three hundred and forty four thousand four
dred dollars thereof being taken by banking life 10.
companies and the balance by executors
and private individuals.
The bonds in question were issued follows
1863
Jan e-E d. Brown President. ............ e2s 900
7-Sophia z. Cornwall. .................. 5000 |
A" 6-Henry Wen20l. 5000 i
s-irvins savings institution 10000
10-willam H. Porter ................... 1000 |
lo-James W. Clark. Observation-Disclosures. 1900
12-Gideon ID. Pond, Trustee. ............ 500
12-WilIam lawrence. Recommendations. $500
12-Ncholas Kip. ...................... 1000
12-Ralph voorhs ..................... 1000
% Ia-Isaac Odell and John Castro. execu.