The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-03-31

Auditor. Is much fuller than that brousnI
Iii ot rho Hustines Court Cind winch mas
already appeared 10 the Dispatch we pub
Iish their statements in full: .=.@-
GENERAL RoGERs's EVIDENCE ~ :,
General asa Rogers, being duly sworn,
danase,i IA follows upon the generai Gues-
ton "a 10 the; manner in which the opera
lions of the Sinking Fund have been con-
ducted. T am Second auditor Of the State
I'D a member of the Sinking Fund Board.
The BOARD was created under the act OF
March 3Oth, 1871. No necessity for the or
canization Of the Board appearing, they did
NOT organize until August I'd, 1871. The
treasurer George Rye, Auditor (Willlam
F. TayIor), and myself met in the Auditors
office and organized. Mfr. Taylor being made
presideut of the Board. William ID. Cole
man appeared before the commissioners and
rendered his services as secretary, without
compensation, he being at that time secre.
tary to the Board of Public Works, draw
ing salary Of $780,. A pencil memorau.
DUN was taken by him Cat the time) of the
proceedings, and I supposed that Coleman
had kept minute book Of the acts, &c, Of
the Board until the commencement OF the
recent investigation. The duties of the COM
missioners, as regarded, were limited to
the receipts derived under the act, and dis
bursements for the purchase Of State bonds
under the same law. The law requiring the
Second Auditor to keep record Of the trans
actions with the Sinking Fund, book for
that purpose was opened, and placed in
charge of T. G.. Morrison, one OF the clerks
in my office. l have never at any time since
the formation Of this Board purchased, or
sold. or exchanged any bond or certificate
mil in
funds belonging to the Sinking Fund, and
this fact has been stated to the committee by
Colonel Mayo. The purchases of bonds
were made from time to time by George Rye,
treasurer, and Coleman, secretary, and
Colonel Mayo, treasurer. The practice was
for one of these parties to confer with the
other members, or some member of the
Board, and the purchase was made, and re-
quisition made by the secretary on my Offices
warrant issued on The Treasury,an the stock
placed in the hands Of the secretary, who
placed them in the safe in the Treasurer's
office. except registered bonds. which were
kept in n small tin box, which was kept
generally in the safe. No authority was ever
given 5y me to Mayo or Coleman to sell the
bonds which we had purchased, or to. make
any exchange of them into other bonds, and
I never knew or suspected that any such
sale or exchange had been made by these
parties, or any one, until since this lnveSti-
cation commenced. The warrant book kept
| in nv office embraces all the Information in
nv Judgment, material to the understanding
of the operations of the fund. No meetings
of the commissioners were held formally,
| for the reason that we deemed it unneces-
sary to hold such meetings, when our duties
we're limited to the receipts of funds and
purchase Of bonds, and the commissioners be-
inc at hand aud together every day, aud con-
ferring when necessary, formal meetings were
deemed unnecessary, though, rs have said,::I
did suppose the secretary kept some min ite
or record of the receipts and disbursements.
40 bond was required from William d. Cole
man. and l did not suppose we had any au-
thority to takea bond.
Question You state that neither Colonel
Mayo nor Coleman were authorized by you
TO make any sales or exchanges OF the bonds
which had been purchased by the Board.
Yef. the evidence before this committee
shows that such sales were made by them,
and exchanges also; and THAI they realized
by them the sum of about IS, $50 in money,
if being the difference in value between the
registered consols sold and pcclers bought.
Had you any knowledge OF these transac-
lions, and was this amount accounted Tor in
any way TO the Sinking Fund Board?
Ans,cer: Ineyer authorized Colonel Mayo
or MIR. Coleman to make any sales or eX-
changes of the bonds which had been pur-
chased by the Board. l had no knowledge
of these transactions, and no account ap-
pears in my office or anywhere else, so faras
know, of any difference realized in the eX-
changes referred to. L. s--
Question Did you ever authorize Colo
mel Alayo or Colonel Coleman to convert re-
gstered consols belonging to the Sinking
Fund into coupon colsoi>?
Ans,rer: | have no recollection that any
such proposition was ever made to me.
Such conversion was made 10 considerable
amount. suppose signed the bonds when
they were brought to me from the Treasury
for that purpose. The practice is for the
party authorized to make such conversions
to 90 10 the transfer clerk with the STOCK
and ask for a warrant or the Treasurer Tor
the stock into which it is 70 be converted.
The Treasurer issues the new stock.
It is then brought into my once
and registered by my transfer clerk, anu
then handed to me for my signature. These
bon IS, thus issued, were placed on my desk,
as the practice is, and signed. / presume, by
me. NV habit is not 10 examine into those |
bonds, thus presented for my signature
but presuming they are right, having passed |
regularly through my office and the Treasu- |
rel's office, sign them.
Question Do you consider that as men,
Der Of the Board of Sinking Fund Commits
soners you have the authority, under the
law, to grant permission to any member of
the Board, or the secretary thereof, to make
sale or exchange OF any of the registered |
consols which may be in possession Of the
Sinking Fund Board for peeiers, at any
time, according to the ,luctuation of market
prices?
Ansarer /: I cannot undertake to say what |