National Republican. (Washington City (D.C.)) 1872-1888, 1874-04-23

WANT 70 KNOW whether that point naQ eve
been discussed by the board. It is very clea.
that different course has been pursued. a
do not think It has
BY Mr.. MeTiek: O. want to ask you wher
yot sold these bonds and these certificates
indictment What did you do with the coupons
that had been attached TO them a. Some Q
them, up to 9 certain time, were lett on tn'
bonds, and then we cut them OF. The coupons
on all the special assessments were let on
special certihcates-those greenbacks that you
saw just now.
Q. You sold them with the coupons on A
Yes, sir.
Q. The bopds-you cut the coupons OFT A
Yes, sir.
O. What did you do with these coupons
A. Those coupons are now In my safe, which
propose to turn over 10 thes sinking fund.
O. Have you charged yourself with them II
your account A. No, sir; but am going K
get q receipt from the sinking fund commits
SION for them. have not used them, and d.
not propose to use them.
Q. You have not charged yourself will
theml A. No, sir; and do not propose x
charge myself with them or use them.
Q. / want To know whether there Is any.
thing in your accounts that shows the amount
of those coupons in your possessioni A. No
sir.
Q. It Is only in your mind, and hereafter you
VIII render an account Of theml A. 1t u not
In my mind: II has to be done.
Q. Where is It II it is not In your mind a
It is In my mind, and the coupons are In my
safe.
O. That b what say. There is no record
of those transactions except such as you retain
In your own mem0ryl A. Yes, sir; there h
record of them. have stated to the Governor
In a letter exactly how many had been cut on
and what the sinking fund commission, OF which
he is president, would have to provide for.
! o. Didn't the cutting of Of these coupons de
preciate the price of the bonds in the market
A. / didn't cut them of until there was only
. about within two months of the time they wert
. due.
o. You have not used any of the coupons al
. allf A. Not one of them; they are all In my
: safe.
o. But you used the bondsi A Yes, sir.
O. And cut the coupons OF some time before
you did use the bondsi A. Yes, sir; cut thu
coupons of as used the bonds, and retained
memorandum Of them. There is a memoran
dun of them, I think, in the letter-book Of thu
board.
o. Nowhere in the amount of the assets 70,
have on hand7 A. No, sir. They are not ou
assets; they belong to the sinking-fund com
mission.
! @. Why not turn them over directly to thu
sinking fund.- A. have been very busy, and
have not thought about 1t at any time when
have been going up there. They have got al
account of them. lwrote letter to Mr.. Kelly
stating to him exactly what l bad. He is the
treasurer of the sinking fund commission.
Q. Have you any idea how many Of then
You have? A I think 1 cut them of about
fifteen or sixteen hundred thousand dollars.
- did not think we ought to pay that interest
and consulted with the Governor, who is The
president Of the board, and Mr.. Willard, sne
they advised me to cut them off, and did so
Q. Those were bonds on the four-millior
efr I had 81
do with four-million losn-the sewer certii
Gates.
Q. No bonds at alll A. No, sir; the four
million loan was negotiated before the bonds
probably before the bonds were printed.
@. You use the word "bond" yourself, ant
therefore fell into the same error. A. I th,nl
1 did cut of some coupons OF the last bonds
GOETHE District bonds-not the four millions
but the $3.50, 0oQ-bonds- which were issued Il
make up the deficiency of the four-miliion loan
Q. You think you cut those OFT A. / havt
cut OF some Of them. gave a statement tC
the sinking fund commission Of what had.
Q. And some you sold without cutting them
OFT A. Yes, sir; when they were first issued
Ipaid them out.
Q. When we're they issued, those bondsl A
They were issued some time after the Legisla
ture adjourned, as soon as they could bt
printed. 1t takes some time to get up thost
things. The comptroller's report will show
when they were turned over.
@. Can you tell us how you paid the interest
. on the four million losnl 4. l cannot. That
does not come into our accounts at all. That i:
a matter for the District government.
Q. Did you transfer the sewer-certifcates, Oh
put thcm in the possession Of the Governor, Oh
other authorities, in order to rsise money By
their hypotheestioni 4. No, sir.
Q. You know nothing about that A. No
sir; do not know how that was paid. The
Governor or the sinking-fund commission car
tell you that. They may have tod me they
had raised the money to do #, and no doub
they did; but how, do not know.
Q. It did not come within the province of thu
Board of Public Worksi A. No, sir; the board
has nothing to do with the District bonds at all
They are turned over to the sinking fund com,
mission. They have to provide for all the in
terest and for the redemption Of the bonds Oh
paper that is out.
9. Do l understand you to say the Board OF
Public Works had nothing to do with the four.
million loanl A. Nothing.
Q. Who managed that! A. The four-million
loan was managed by the Governor. think
he was authorized under the law to negotiate
it. l am pretty certain he was.
Q. Where did the money go that was derived
from the foUr-nillion loanl A. Into the Dis
trict treasury, and they paid it over to me.
Q. Then yoU got the money! A. got the
money.
DIDO you reeollect what the proceeds OF
that four-miIlian loan werel A. think it was
$240, 600 or 500, 900 discount on the four mil
lions
Q. will leave that question for the present.
You have brought TO the committee now all
your bank-books, showing your deposits In all
the banks? A. Yes, sir.
Mr.. Wilson. wish you would get them
together, and put them in their proper order
get the different sets together.
Q. When and where was that four-million
loan negotiated 4. Through Seligman &
Bros, Of New York. / think it was negotiated
in Germany by them.
Q. Was It eli negotiated at one timei A. I
do not know. think it was.
Q. How did you get the proceeds of that
loon into your handsi A. By q requisition on
the comptroller of the District Of Columbia.
The money went into the treasury of the Dis
trict of Columbia.
Q. And then you received 1T A. Yes, sir.
received it right along as we wanted 1t.
Q. Did you draw for 1t all at one time, or
from time to timel A. Oh, no, sir.
Q. In what sums did you usually draw for 1t,
and what did you do with the money! A.
When l got Il deposited It.
Q. What were the banks in which you kept
your deposits-the FIRST National Bank, then
and afterwards the National Metropolitan A.
Yes, sir; think all that four-million loan went
In OF re First National Bank.
G. Do your bank-bOoks show that that four
miliio loan went into that bank A. Think so.
Q. And that the proceeds Of that were gold
A. Oh, no: currency.
Q. You negotiated Il in Germany You ne
gotiated that for so much A The Governor
negotiated it IN New York, with Seligman &
Brothers, and they negotiated it in Germany.
The last investigation showed that what they
got for it, and all about It. But It was nego-
tiated with them absolutely. They bought
the bonds.
Q. They took the bonds on how much to
the dollar A. Ninety four or ninety-five cents.
Q. In greenbacks A. Yes, sir. The last in
yestigation showed all that. will not speak
positively.
Q. l only want to get the aggregate. You
got about 8 100000 Or S. 10000 A. / pre-
sumo that is what we got.
Mr.. Merrick. You will find It in his report
of lS72. 80 -
Q. That money all came into your hands
Q. Did you get any money into YOUR hands
from any other source except the Government
appropriations You have spoken Of the four
million loanl A. Oh, yes, sir. = -
Q. Where did it come FRONT A. We got II
from these special assessments on the streets
Q. Do you know how much you received
from those special assessments A. Seven
hundred and odd thousand dollars.
Q. Did you receive. any money! A. Yes,