The New York herald., 1873-10-14
The Comptroller's Tin Box
Securities.
How the City Finances
Are Managed.
Mr. Green's Explanation Of the Missing Bonds
Are They at the Printers lis tho Statement
of the Comptroller Correct BLANK
Bonds in the Finance Dey artment
by the Hundreds-F urther
Explorations in. Order.

ONCE In wnicn the securities belonging TO the
sinking Fund are entered, and the securities actu
ally in the box in which they are deposited for
safe keeping, amounting to ss4,OS4 5s, reporter
OF the HERALD waited upon Mr. Green for an ex-
planation OF the apparent discrepancy, and was
informed by the Comptroller that the securities
were all right; that the bonds in question, eight
An number for various amounts, not de.
posted in the box, but that the Chamberlan's
receipts for the money meanwhile represent the
bonds and are in fact securities until the bonds are
issued Mr. Green stated that when a city bond IS
purchased receipt Is given, the purchasers name
is entered in the Comptrolers oslce, and the in
terest is paid on that evidence; that "bonds may
not be printed at the time or purchase" which
would account for the delay in their issue, and that
"the receipt is a fact-the bond mere formality."
In the case OF these eight bonds not found in the
place where all the securities belonging to the
sinking iund are kept, the sinking fund is the
purchaser and hence would hold the receipt for the
money paid by 1t to the city treasury, its secur
ity, until the bond could be received from the
printer or engraver, or. could be properly filed
np In order to ascertain whether these securities,
the receipts, were In the sinking fund box and
whether the delay in the issue OF the bonds was
because the forms had not been received from the
printer, HERALD reporter to-day obtained an
interview with one OF the Commissioners OF Ac-
counts, with the following RESULT
NO CHARGES OF A DEFICIENCY IN THE SINKING
FUND.
REPoRTER-I wish to make some inquiry in regard
to the charges made in your report OF deficiency
OF S94, 900 in the sinking fund.
CORRESPONDENCE such charge has been made by
us. In the discharge OF the duty imposed upon us
by the responsible office we hold, we have made
an official report OF the securities which, accor-
ding to the accounts IN the Finance Department
ought to be in the possession Of the sinking fund.-
and OF the securities which, upon examination, we
found 70 be actually in the place in which they are
deposited Finding the securities short OF the
them in detail. compared them with the amounts
taken at various times from the sinking fund, and
the box.
REPoRrEB-Did you inquire OF the stock clerk
Wnetner tnere were any securities belonging to the
sinking fund except those in the particular box OF
which you speak
CoaMIssIoNER-we did, and were informed by
MIN that there were not any Others.
THE RECEIPTS NOT IN THE BOX.
REPoRTBR-Were the receipts for the several
Comptroller says were securities or those amounts
equivalent TO the bonds themselves, ID the box
with the rest OF the securitiesf
CoMMlssIoNER-Tney were not. nthey had been
we should have noted them in our report as part
oil the contents OF the box
REPORrER-Was any examination Of the secur-
ties In the possession OF the SINKING Fund Com
missoners made prior to that undertaken by you
In your oflcia capacity?
CoMMIssIoNER-Yes. We round that the Cham
oerlain had made an examination of the contents
REPoRTER-Did that statement show the exist
ence OF the disputed 1000 worth OF bonds In the
box, either in bones or in receipts
CoaMIssI0SER-It did not. The eight bonds
which were missing when we examined the secur-
tties were not taken any notice or in the examina
tlon MADE by Mr.. Lane and subsequently certified
as correct by Mr.. Whittemore, any more than II
they had no existence and were not part Of the
REPORTER-n sucn statement as that made BY
Mr. Lane existed why did you not accept that as
q complete and satisfactory statement OF the
amount OF securities in the possession or the Sink
ing Fund Commissioners and were you actuated
oy unirlendly feelings towards Mr.. Green in search
CoMMIssIoEER-Not at all. We all respected Mr.
Green and did not recognize him in the matter
Our duty required that we should first ascertain
the exact condition OF the citys indebtness, and
next the exact condition OF the cty's securities
When we found from tue accounts that there
the possession Of the Sinking Fund Commission
70 examine the contents Of the sinking Fund box
deemed 1t our duty to examine by the account we
had obtained from the books OF the Finance De.
partment. IL we had simply compared the con-
tents OF the box with the statement already made
We should have found the two to tally, and should
ing. 1t was only by examining the securities the
selves and comparing them with the securities
called for by the accounts that we discovered that
$4,000 worth OF bonds which ought to have been
In the box were not there.
THE EXCUSE ABOUT THE DELAY IN PRINTING BONDS
kEPoRTER-Mr. Green has stated that the issue
OF bonds Is sometimes delayed because the bonds
nave not been received nom the printers Did it
not occur to you that the missing bonds might
have been delayed on that account and that in the
meantime they would be represented by receiptsP
COMhIssoNER-Ift the receipts had been deposited
with the other securities, or had been shown To us
when we inquired whether there were any other
securities belonging to the Sinking Fund besides
those in the box, such thought might have oc
Cured to u.s. But there was no evidence OF the
Imagine that the bonds were held back for any
6ucn reason, because we had found plentiful
supply Of blank bonds OF almost all the series called
NM IN fha
troller's office.
bondsf = '1eA
COMMISSIONER can. Here is one engraving OF
the Croton Water Main stock OF 1900. A number
once IN July last. On June 25 last 500 600 was
taken rom the Sinking Fund, and purported to be
Tepaced oy o bond numbered eleven OF this stock
bond was found. - - - sNSA
Crhe bond shown to the reporter was blanK
bond Of the Croton Water Main stock. redeemabie
IN lyoo bearing interest at seven per cent Il is
worR, and bears seven per cent lnterestl
REPoRTEB-Were there any other blank bonds in
tne Vomptroers a;,n oflce In July last which could
nave Deen nlled up Tor amounts missing from the
Sinking Fund securitesS ~
CohMIssIoNEn.Thero on were We found in the
CQnptroller'5 office printed blanks for ali the bonds
called for by the $4,000 loan from the sinking
Fund, except those OF the Museum OF Art and the
bonds, amounting to $4,000, were new issues. and
we did not find blanks Tor them in the Comp
REPoRTER-Then there could have been no DELAY
ABOUT the issue OF these bonds to The Sinking Fund
occasloned by the blanks having been received
rom the printers
CoMNIssIoNER-Nonea al ell as to those against the
City Park Improy yement fnk'd stock; the Sewer Re-
pair stock; the Croton Water Main stock; the six
per cent New York Revenu bond. or the Public
School Building Fund Stock, because blanks for all
these were In plentiful supply IN the Comptroller's
once In July last. There might have been such
del delay II In regard to the Mueum OF Art stock and
the Claims and Judgment Liquidation stock, be-
cause we found no blanks rel uting to such stock.
MEL mEfohiIER--ln ,i.ln the accouns OF these missing
ponus ula you notice any diffeen between those
wnicn WI were o. the stock whose bank forms were In
W. n,v S@omplroliers @ ONCE and those for which you
say you found no blanks2