National Republican. (Washington City (D.C.)) 1872-1888, 1874-03-20

You Vtll And there snounfs fbs s9psneitsrs
@ .dooont Of the schsoa fana Or the ~ G
Washingtoa q page %, On seeoant 81 u!
ssAso fund lbs 6eorgeAovD o. Yass ~, -
o. account Of Expenditures lbr tbs schoel M
OF the couuly Il page 80. n no0 Of Ties
expenditures b thsFs any charge whateoevei
upon tho school fund in respect e the1s o9lb,-
900, or any part thereof; and, thereis.e, upon
their own statement nd showing In this e
count Of debit and credit o. account Of the
school fund, y appean that there . mree
balance due to the credit Of the school fund,
unexpsnded Of taxos collected and received by
them on that behalf G' at1r
Senator Tharman. Have you footed upthese
rccsipts, and also footed up these expenditures
to zee how they compared
receipts for the school fund on the part OF the
city OF Washington were e5t6, 6A.96 and 81, :
I6So.19, and the expenses on account Of the
same school fund, on behalf Of the city q
Washington, are S454, o71.2o and IS, Oh SO,
showing . difference of nearly 100000 In
favor Of receipts over expenditures 90 far as
the city Of Washington "a concerned. That Is
all, think, that % needfdk to be said IN refer
ence to Lat questian, and in response to the
statement that tho school fund Is deficient to
the school fund of the District of Columbia.
One other remark, perhaps, with reference to
the character Of that fund, and the committee
will SEQ that IN that matter Of reimbursement
the reimbursement was made up Of the two
items. One was a. dram, which I sup.
pose 10 cash, to be found on page "a. The first
item-$356, 1888 .45-'draft on account Of ex-
penditures made by the District government,
received from the commissioners Of the sink
4 ing fund, and the otheris 5000, 900 of bonds.
1t would puzzle any one to undertake to say
that this s2f5, 900, which was embraced In the
aggregate of $9l5, 900, is all 10 be charged to
this s6oO, Ooo Of bonds, which they say are yet
Mr.. Stanton. The $500, 900 was applied to
reduce the Indebtedness. 80
The Chairman. You have summoned here
to-day Mr.. Mckelden, who states he is presi-
dent of the Second National Bank; that his
business requires his constant attention, and
that be cannot testify from memory. He asks
suppose, books which we have called for this
afternoon. Ef
Mr.. McKelden. I was auditor previous to
this, under the old corporation.
The Chairman. Where are your books?
Mr.. McKelden. In the same department,
suppose:
them!
Governor Shepherd. lie will If you want
Mr.. Merfck. stated that have only pro-
posed to call this witness. 1t became neces-
sary In response to any evidence that these
gentlemen might give in reference to the
$2l5, 900. 1t strikes me that the evidence
which have now given in response IL . sufh-
cient answer to the testimony they have given,
and do not propose to 60 into any oral testi-
mony myself upon that subject; leaving, Of
course, to the committee, II they desire, to
make any further investigation ON that ques-
ton that they may wish to make.
The Chairman. will ask you II you have
any further matter that you wish to present to
the committed Il'
Mr.. Stanton. have only documentary evi.
dence.
Senator Thurman. You had better state II,
50 that our shorthand reporter may take It
down.
Mr.. Stanton. There IL detailed statement
here. by the Comptroller. There Is also the
report in relation to the check, concerning
which Mr.. Syphax has testified.
| The Chairman. Mr.. McKelden is discharged
under the subpoena. Mr. McKelden, you VIII
not be required here to-day.
| Mr.. Stanton. There Is also q statement here
from the present president of the colorcd school
trustees, Mr.. johnson, showing the cost of the
school buildings, &c. That is the Information
Mr.. Wilson desired. q -
Senator Stewart. do not quite understand
how you reconcilcd the difference in footing up
the receipts and expenditures. Have you the
footing up Of it! -r
Mr.. Stanton. No, SIR; have got the state.
ment here. r-r
Senator Stewart. In the paper you fled
does It contain the statement
Mr.. Stanton. Yes, sir; It contains the full
statement here of the receipts and expenditures
Representative Hubbell. What was 1t you
said about $500, OOOi
| Mr.. Stanton. Reference was made by Mr.. Mer-
rick to the fact that when this settlement was
i 10 ~1vSl,3
and the District of Columbia part of It was
made in cash and part in bonds, and he said 1t
would puzzle anybody to show how these
school bonds were to be separated from the
others. have understood that the argument
was all along that they insisted on their right
to the proceeds of these bonds. 1t is true that
the payment was mace in cash at the time OF
the settlement, but the cash was applied on
the indebtedness to the First National Bank OF
New York. The $500, 900 was paid right over
to the First National Bank of New York,
who stated was the real creditor in the whole
transaction.
| Senator Stewart. The paper you are about
to file shows the statement of accountsl
Mr.. Stanton. The statement of accounts be-
ration Of Washington, which was settled, is
shown in the report Of the sinking fund CON-
niissioners, which is printed.
Representative Wilson. That brings us right
back to the difficulty that we got in the other
day, when I asked some questions of Mr..
Baker. You say that this money that was re-
ccived, three hundred thousand dollars, went
| to reduce the Indebtedness?
| Mr.. Stanton. Yes, SIR; to nay part of It.
Representative Wilson. Of that money this
two hundred and fifteen thousand dollars was
| . part, was It mott
Mr.. Stanton. 1t was part of the gross sum;
| yes, sir.
Representative Wilson. Then they got the
proceeds of these bonds and paid of this in
debtedness, or reduced It'll
| Mr.. Stanton. They have not got the proceeds
Of the bonds yet.
Representative Wilson. Where did they get
the money! Here Is athree hundred and fifty
six thousand dollar draft on account Of the ex-
penditures.
Mr.: Stanton. That was applied on the in
debtcdness. It did not discharge It entirely,
| and for security for the rest these bonds were
hypothecated.
Representative Wilson. Is not the two hun
dred and fifteen thousand dollars discharged
pro tanto.
Mr.. Stanton. II any calculation can be made
I would like to see II made. II would be ut
terly impossible to apportion these things uneii
the whole settlement is made and the bonds
are settled.
Senator Stewart. You can show where the
Mr.. Stanton. The bonds were never sold.
The sinking fund commissioners paid the Dis
trict Of Columbia something IN cash, and some
thing in the city of Washington bonds. The
cash was applied on the Indebtedness due TO
the First National Bank of New York, reduc-
ing 1t pro tanto. The bonds were hypothecated
debtedness. Now, II you arc to say thst there
IN acme ff,rtv-tWo thousand dOllafe To be uaid