The democrat. [volume] (Weston, W. Va.) 1868-1874, 1871-02-27
ha bonds guaranteed by
the state, and ordered to
be paid by the Sinking
fund under tho &C.
passed 10th of January,
1856 ss azg ars es.'
S67,13T -

ir1 .V -..-l ,... ~ rrs .1a GU i'ioi q
This fund is held Of course liable to sh,
payment of The several sans due Ehar
called for. tf-
Il will be seen, by the statement ofre
eeipts for the year 1859, that sn Amouh
Of So 500 has baen received from the
trust fund Of Seldep, Wishers & Co,
By, /, resolution Of the las. general as,
sembly. the commissioners Of the Sinking
fund we're required to prosecute With al
little delay as practicable. to dnal set,
tlemsns 'na liquidation, the accounts and
claims Of the commonwealth with and
asains. this frm.. aud to use all Legal
remedies TO enforce payment Of whatever
may be due from, them on account Of con,
tracts heretofore made, or bonds hypo.he
Gated with them by the Board of puhli'
works. Under this resolution, the com
a'issioners Immediately placed the claiu
Of the commonwealth in the hands Of the
attorney general Of the, state, with in-
structions 10 carry out tic, resolution a,
speedily as possible. A suit at Law has
been brought against the parties ia the
circuit cou:. Of AleIandris, tho residence
Of John Wilher,; which is still depend
ing; also suit in eh,nccry iu the same
circuit court, for sattlemou. Of accounts Of
trustees, and to enforce e1ecaiicn Of
trusts. Thess cases are contested on
legal grounds-and we are informed b.
the attorney general, tina. ha,is pressing
Them with all the dispatch which the
rules OF Law allow. Anadditional amount
may be received trom, the trust fuud but
how much. or when, will depend upon tho
realization Of asset, Of doubtful character.
ab.a, which We are not noN prepared to
e1pres, defnlsiye Judgment, 20 J..
In Ike manner, she fund has been the
recipient, during the last year, Of
$3T 1888 SO. the balance due in full
settlement Of accounts with James T.
Soutter. This sc!tlemen: was also made
+. " ~ "
under a resolution sfthe last legislature,
appointing board, consisting of the gov
ernor, the attorney geaeral aud the Sec
retary Of the commonwealth, with full
powers to act in the case as might in their
opinion be best for the interests Of the
state. US are informed that this board
found il necessary to refer The matters 10
controversy between Mr.. sOut:er and the
state to arbitration. aud the arbitrator,
falling to agree. fuslly to an umpire. un-
der whose decision the amount sdjudged
to be due BY Mr.. sou,ter, wa. paid ia full
Of all claims sgaiuit him. and after de-
Quoting charges. amounted to tho sum
stated abovs. For full detail of ali
matters connected With this transaction.
the general assembly are referred to the
report of the board mentioned. ~
This whole transaction, from its incep-
lion TO its termination, as well as th,. oil
Selden, W,ihers & Co., ssti,fe, Us tha,
.he state bond, should not b. entrusted to
others as a means upon which to raise
money, aud that the suggestion hereafter
made in this report upon the subject, i.
worthy of confederation. Tho raising Of
money for the state, and its repayment,
aud the payment ssmi. annually Ofthe in.
tere,t on loans, should be made at tn,
state treasury, aud not be entrusted to ir
responsible ageniaa s. % sass5
b Having thus stated in detailall the Op
era!ions of the fund. the whole debt Of tb
state now existing may be stated to be-
Debt prior to tols52o'' 40, 100, 995 81
Sub.ed eduen,ly created 5ale.4sO, 32l 8:
rar..r.aH tii sr.-r lfE -----
Total $, .,-,-,s s0,l9O.3l6 6;
With an amount on haad
for redemption Of the new ~
debt, of bis sai 1886 q
a"I 2 b .rg. ~ a . ----
o.. -.t..r Fl a .57or,z 20, log, ,G59 Is
OF the debt prior to 1852 10 (.
there is In amount bear
ing Eve per cent interest,
Of ial * 10 .'"- 4S4. 600 OC
AIi 6 per a" cent Of STOOL lO,2l5, ,o95 st
| OF the new deb, subsequent .zs
to 1852, tberr. is an
amonnt bearing per
cent interest Of 1866, 900 OF
And an amount bearing E -
6 por cen. of ,.-o. l1.6l5.S21 81
Of the eRt're d,bs ,(crelull"r th
smourt on baud o. bonds purchased 70
ii.iuvsstmenD th'ro is OF
Registered stock irsnsisrs- ''
bic and the interest urrn
which is payable at lh.
state treasury, Of s per ..
cent bond. 1j.g2S.si6 8
! Five per cents t94 .o00 O
D D ---
-. 80, y,, "a,