The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-08-25
ITEMS OF STATE DEBT UNDER
INJUNCTION.
THOSE CABALISTTC SIGNS.

THOSE CABALISTIC SIGNS.
In the following enumeration of those items
Of the State debt which have been enjoined by
Attorney General Field, we use the item num-
bsr of the report of the Committee of Exam
liners, as per statement published in Sundays
BULLETIN
10. Bonds for levee purposes, 1866 $1,000
OOO
The payment Of these bonds is enjoined by
the Attorney General in the Superior District
Court, slit No. 369, on the ground that the
law authorizing their issue was repealed and
the bonds hen in the treasury in part, and the
others to be redeemed by the $4,000, 600 issue
Of Levee bonds, were to be destroyed.
Subsequent to this law and their redemp-
ton, they were reissued-when in contempla-
ton Of law they were already destroyed.
These bonds the Funding Board has not even
marked with dagger.
H. Bond to the N. La. and r. r. r.,
$l,122,OOO.
Though the Supreme Court has passed Incl
dentally on the validity Of these bonds, the
question that their issue was in viol,tion Of
the constitutional limitation of the State debt
to S25, OOo, 900, was not raised, was carefully
avoided in the case, and may be raised at any
time the Attorney General chooses These
bonds are on the Funding Boards private list
ssto be registered"
Is. Bonds for N. o., NJ and Chattanooga
Il. r. Company, s75O,OoO.
These are the guaranteed second mortgage
bonds. By subsequent most Hnwarranted
act of Gov. Kellogg the amount was increased
to 1915, OO0-the increased issue not on
record, nor known to the committee of ex-
aminers The Auditor and Treasurer are
also, in suit 1863, enjoined from the payment
of these bonds. The grounds are that the
State was to guarantee the payment Of second
mortgage bonds of the railroad company to
the extent Of S12, 500 per mile, in sections of
forty miles, as the road should be completed,
or in lots of 100000, provided the first sec
ton should be completed by the 18th Of
January, 1871, and the whole road to the
Sabine by the 18th Of January, 1873.
The first section was not completed till
April, 1871, and no second section of 40 miles
has ever been completed. The obligation OF
the State to guarantee these bonds ceased
January 49, 1871. The constitutional limita-
ton of the State debt was then i'll force, and
had already been exceeded yet $3.50, 900 Of
these bonds were Endorsed by Gov. Warmoth,
in violation of law and the Constitution, and
$125,OOO by Kellogg, after the payment of
those already issued had been enjoined. Yet
these bonds are 'tO be negotiated.
49, Bonds for Mississippi and Mexican Gulf
Ship Canal Company, 1869, S4S0,00o.
These bonds were issued for work sup
posed to have been done on the Noyes Canal
swindie, when nothing had been done, and
not even 100000 of canaling has been done
since. Yet these bonds on the Funding
Boards private list are to be funded
49, Bonds for Bnuf and Crocodile Naviga-
ton Company, $4,000.
These bonds were issued to Senator Ander-
son, for no consideration whatever, and no
improvement, they say, has ever been made
Their payment is enioined in suit 1863 OF the
Superior District Court, and marked on the
private list Of the Funding Board, ''to be
negotiated.
20. Bonds for Chattanooga Railroad Com
pany, 1870, S750, 900. These are the subsidy
bonds for the section of the road between
New Orleans and Donaldsonvlle devoted by
the State to the road, and form part # the 3d.
OOO, 900 which were to be devoted had the road
been completed to the Sabine by May, 1873
The State has sued the road for the amount OF
these bonds, has Judgment for the amount
with interest, now amounting to about ST.
600, OOO with first privilege on the road to
Donaldsonville. Under this Judgment the
road was seized and advertised for sale on the
5th of September. Notwithstanding the alb
solute nature of this debt, placed as it is in
Judgment, these bonds on the Funding Board
list are marked with a TO be negotiated.
q. Bonds for the N. O., NJ. and Texas r.
r. Co, 1871, 50, 800 900. These are the
bonds issued for the Verlnihon nd Shreve
port branch. The work was to have been
commenced by October %, 1871 There is
proof that the road was never commenced,
and the case was remanded by the Supreme
Court f this proof to be made The proof
is in writing-a letter of J. A. Rayner, then
president Of the road Yet this item Of in
debtedness is marked with t on the private
list of the Funding Board. ''to be funded"
the negotiation having already undoubtedly
taken place for an absolutely worthless and
fraudulent bond. @.5a
%. Bonds tor the relief of P. J. Kennedy,
$134, 600. These bonds were given Kennedy
for disco lnts borne by him on State securi-
ties given him in payment for work done on
the levees when in the high price paid for the
work was included this very discount. These
bonds are "to be negotiated"