New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-03-15

/ 49, C;.;,ors, Rank "a fiscal agent; owned
tho soma nrevious to the first OF March
fTbe certificates were here filed in evl-
aencej Made several applications to the
| nresdent of the bank; on the fourth OF
March was told that the bonds were an
| that day / made application again, ana 1e
| ceiyed the same answer; on the sixth OF
March, between eleven and half-past eleven
| o'clock A. NJ, l made application verbally,
| and at one o'clock p. NJ. filed my written
application; the bank refused to receive my
| certificates, saying that the bonds were All
| gone.
| House of Representatives., sWof1l-hSe".
| lects the passage of the act funding the noal.
| ing debt of the State; signed the sad act
| at ten minutes before two O'Clock on ottul-
| day the fourth of March: looked al my
! watch at the time | signed it; was SICK al
| the time: signed it in the Governor ONCE
| expressed some surprise. at seeing t!lG uon
ernors signature appended 70 .ne a. o.i az
| mine had been, ana he s'ti' IL n-"'' A' VII
| ference as to that
| T. Levy. sworn-The firm OF which
| am n member holds the warrants presented,
SI3g79 OF; | made application first to MI
| Gaines on the third of March. and asked
| him to convert the warrants into bonds; MI
| Gaines said that the act had not yet been
| signed, ami lie could not receive 'He ""i
| rants.
| On Monday, the sixth day of March, APP
| plied (having previously sent our book
| keeper on Saturday, the fourth instantly ana
asked to have the warrants converted INTO
bonds: this was about ten O'clock MI
Gaines said the bonds had all been absorbed,
but he did not say by whom. -,
Mr.. Dubertram swOrn-Am clerk OF the
Mcssrs. Levy: called at the bank on Sat'lr-
dav. the fourth instant, at Si2 A. NJ: Mt.
| Gaines said there was no use to present our
| warrants as the bonds had all been absorbed:
there was another gentleman nj the ofrlce,
who l afterward learned was Governor
Warmoth.
| [Itwas here admitted by counsel that on
the morning OF the fourth OF March tnere
were 1913. 0U0 of bonds in the Citizens Bank
as Fiscal Agent of the State, known as float
ing debt bonds, and that they are still
there.
The defense then introduced Mr.. John G.
Gaines, president Of the bank. who was
swcrn-Previous to the fourth of March
different parties called upon me with a
request to take charge Of their warrants, SO
as to exchange them for bonds; under
standing that there were more warrants
afioat than bonds to satisfy, declined to
receive any further applicants: at twenty
minutes before nine o'clock Oh the morning
Of the fourth of March, l reached my office,
and found Governor Warmoth and Mr..
Delery, the cashier, there; the former said
the funding act had become a law, and
handed me package OF warrants to be ex-
changed for bonds; Mr.. Delery stated that
he had already verified Sl2s,00O OF
the warrants; at my request he set aside
bonds for the amount verified from
the bonds in the vault; | left the office
and went to the vault; when l came back
the clerk of Mr.. Levy was there, and the
Governor also there still; told Mr.. Levy's
clerk that the bonds had all been absorbed
when the Governor handed me the war
rants he said they must be funded. and
assented thereto, we two being majority
of the board, and having acted for the
board frequently before: did not find Mr.
Graham until that day: on the third OF
March declined to receive tue warrants
from Mr.. Smith, he left them upon Mr.
Delery's desk, SAYING, Here. Delerv. &c
the best you can with them l did not SEE
Mr.. Smith at the bank on the fourth OF
March: l met him on the morning OF the
sixth Of March. on Royal street, as l went
to my office, and he spoke to me about the
bonds: said l did not see how l could
assist Linn.
Upon previous occasions l have almost
always acted by myself; sold, upon one
morning, while sitting upon another com
mission for the State, S2.00o.009 worth OF
ernor or Mr.. Flood of the Board OF Public
!, Works, who We're associated with me- unit
some hours after the transaction had bee1
contaminated.
Cross.examncd-Th order from TIL
! board is in the handwriting of Mr.. Delery
!, it was signed on Monday morning, the sixth
, instant. ut nine o'clock: don't know any
thing about the holders Of the warrants
| except that have an interest Of $500 il
| @Ia ..1a 10 IS N 10 RS
column in the list in court had been in III.
possession for some time: when | receive,
| them | thought there would be enoug
bonds to absorb all the warrants: when
J, found to the contrary l refused 10 receiv
: any more.
Mr.. Samuel Smith said to me, on Monda.
: morning the sixth instant What II
should offer seyenty-tive or eighty cents iC
!, the bonds ~ He did not authorize me
7 however to bid eighty cents. After &C
' into the bank said to the Governor MI
: Smith has said something about biddin
higher for the bonds" The Governor L.
|; | piled: How can we receive a bid to
!, bonds which have been disposed OF unde
4 the provisions of the law That was a
; that was said about Mr. Smith. S bidding
/ | higher sum: positively refused to recelv
the warrants from Mr.. Smith, because
u knew there would not be sufficient bonds
liuuidate the warrants out: the warrants al
exchangeable for bonds at seventy cents. AZ
cording to the law.
Mr. NJ. F. Bonis swprn-Am in the en-
: ploy of Mr.. Hernandez; on Saturda
morning, the fourth of March, at ten o'cloci
: | took to the Citizens Bank for Mr.. He
u nandez. package of certificates and wa
Il rants to be funded, in all about 49,, 90!
Mr.. Delery told me the amount was to
Il large, by some $4,000, and that it woul
~ have to be reduced the total amount ha
already been reduced considerably; it wa
. | first S252 600: previous to the fourth {
Z March list for So, 600 had been handed /
;, the bank; l presented the first list
= $a52. 900 to Governor Warmotl, on the ev
&c ming of the third of March; l actually pr
sented the certificates and warrants on I'll
:; fourth Of March, at ten o'clock; the amour
e had then been reduced to about $4,000
> very few of our warrants had been ISSUE
g bv the Board Of Public Works.
81 Samuel Smith recalled-On Monday. Il
sixth OF March, at nine o'clock, or abo1
" that time, | offered to exchange my warran
:! at the rate Of seventy-tive or eighty cent
and stated to Mr. Gaines that lie might
10 make my offer to the board. Mr.. Gain
.e afterward. on that day, said that the boal
u had decided that the bonds must lie give
pr pr out at seventy cents under the law;
q Cross-eXamned-I told Mr.. Delery TIL
IL if he would collect the warrants | won
VI paw him a commissions; he declined the pr
position, but said if | was successful i'll t
~ end l could make him present ii cho
Io | so to do.
ne The evidence was here closed, it being u
=, derstood that the testimony OF the Govern
Of would re taken concerning the time he
vi fixed his signature to the act. 1t was al
20 agreed that the respondents should subn
IT, statement of the character OF the W;
~ ND FMS MT al