, 1874-12-08

THE LOUISVILLE roRrLAnD CANAL.
In pnrsuancn OF :he dirocttol! contained IN SEQ.
? OF the uct Of May Il, 1874: entitled ZAP act
Louisville T. Portland Canal Company" Mr., 1t.
". Taylor, First Comptroller Of tho Treasury.
was instructed to procced.to Louisville, Ky.. to
,nalio the examination authorized by TINT soc-
tion. His report, hereto appended, shows in
what nnuner ll1s ,nstructions woro carried out
at,d tue result Of his examination.
It waB aacortaincd that tho Company was in
debted to its Treasurer In tho sum Of a3O7.sl,
which has hipce boon pala. There arc out
standing honda Of tho Dompnny amounting
to 81, 900, bearing . por cent interest, pny-
able sentt'annttally,--Ja ! md July | In
oaci, yonr. TheAo bouas will mature July,
1876. July 1881, md July. 1885, No
pany, nor in thcr favor from tho Directors, tho
TrusteeH under the mortgage. or other persons.
Tho tlvc HhGsca Of stock held by the Dh ectord
lleye leon transferred to tho United States, and
tho value thereof. Including Interest. amounting
to S8l3.6o. hns boen pad At tho Troasury. Pub.
lie notice xas giyon to tue holders OF tic bont1a
10 proaent tho coupons due July !. 1874, at tho
oflico OF tho AssHtant Treasurer in Now York for
payment, and. Of tito 335 1G0 due OIL that day.
S94, 920 have been pad. Coupons TO tho amount
of $500, pass duo ut TINT time, but not preyl-
ousiy proaontea, lavo sinco hoeu paid ut tho
Treasury.
DEMAND FOR PAYMENT or THE s rEn GENT
EAnN1SGH OF PACIFIC RAILROAD COMPANIES.
BY tho sixth secttop OF thu net approved July
1852, to MD ia tue construction Of tho Pacific
( llallruAd, aud Subsequent legislation. tho Gen.
tlnl, Union. Central Branch OF tho Union. Sioux
G1ty 4 Pacific, KansaB, and Nettcrn Pacific
Nailroad CompAn1es hfo required, from the tlato
Of the completion Of their several roaiu, to paw
| the Uuitod States por ceMtnm OF their annual
earnings. Congress-, Mt its last aestior,, by al
act approved juno o. 1874, directed tho 8ccrota-
| ~ OF tho Treasury to ao1nand Of tho Treasurer
81 onch Of sad Companies oil sums duo to tho
| United StAtea, and in default OF payment for
sixty hya thereafter, to certify that fact to tho
Attornoy-deneral. who ia ra1u.red !lcroupon to
pocosHarY 70 enforce payment tl,eroof.
The law, i'll tho opinion Of tho Secretary, con-
| templates that demands shn!l be made for spe-
clac ans1R hascd upon tho not earnings Of each
road from its compilation. aud. for this purpose,
Lie Inns nnaunlcd that the completion III each clae,
| 1T tho absence Of mora dotinita information,
| datss from the issue Of tho Inst inHta|lnent Of
bouds BY tho United Staten, ulidor tho act Of
| July !. 1869.
| The twoutieth sec.ion Of this act required tha
| companies to make annual reporta to tho Sccre-
tary OF the Treasury, Which, it made. would show
| their annual not earnings, but bv subsequent
| legislation they wore directed to mako this re-
port to the Secretary Of tho interior. They
| have not, however, as it appears, fully complied
| Wih this requirement.
| Upon correspondence with tlio Secretnry Of
tho interior, it Is agcul taiuol TINT their reports
wero 10 Imperfect ae NOT to dscloao the net
| was tlereupon mado BY tho lDrortor Department.
| upon each Of tic companies for IN immediate
statement Of its net earnings from dnte speci-
tied to anI including the l,l oseut yoar. but such
reports have not Yot boeu furnished.
I Having delayed a reasonable time to give tho
| companies III opportunity to furnish tho desiral
information, md failiug to receive it. roaort was
had to snch other niealls of information Us werD
within roach, namely. to the snnltal rcporss Of
| tho Presidents OF said companies to Btockholn-
ers. and nuch further state,nonta relating to tho
| tiHcal affaua of tho seyarat compunics rs have
flom tlno to time boerPgiven to tla general pub
lie. Upou information uerivedfro1n thoao sousc-
| ea, estimates haye boen made approxima.ing
a. nearly AZ practicable the not earnings Of said
companies respectively, and demands have haau
| made for tho payn.eut Of the amounts thus ns-
Contained. Demand in writing Las hceu served
personally upon the Treasurer Of ench company.
Tho aggregate amUunt now duo from all the
! companies unon the beHs dlta at hand, closely
| approxinlntos S9,0Du.0a0.
/ Should puyaient not bo made within sixty t1aya
tho matter will 10 reported to tho AttorneyGeu-
| eral III conformity to the requirement Of tho oct
| Of Juno 22. 1874.
| nEDEMprloH AGENCY FOE NATIONAL DANEH.
| II Congress- al,nl deem 1t oSpcilout to cou-
| tinuo tho presont system OF redemption OF
National Bank isotos Il is recommended that the
| nuilbor sud compensation Of the employees in
| tho division orGantzod under tho act Of Juno 90,
| 18Th. bo fixed by law, mud their appointment
vested in The head or tho Department, III ao-
| cosdance with the constitutional provision.
[ nE1EAu OF ES0nAv1Sa AND rITNTlS0.
Careful consideration OF the mannor OF pre-
pairing tho bonds notes, and stamps tBs'le1 by The
United States, 1as led 10 the conclusion that tho
work can bo moro satiHfuctori!y aud safoly dole
IL tho Treasury Department thnn olsewhore,
supplied with tho best machinery, which has
peon acquired NJ Grnat cost, and Tho most exil-
ful artists nro omp!oyod by tho Government
without difficulty. Tho ayatum OF checks now II.
II f6nr nj oh,lnnI al
pnper heretofore adopted BY the Denartment
| furnish MI proper aud reasonable protection
| against dnpl,ratiou and other fruudB.
| II ~, tllorefore. recommended Tint proyinion
| DO lnala by law for preparing all eoourltieH
aamps clncltH, drafts, eio., issued by thu United
| States, in tic Bureau OF Engraving and print-
| ing now attached to tlls Department. a1ld TINT
| tho cant thogcof be lesullted by law from tinao
I to ti1no.
| run1,1G nu1LnlNue.
Tho report of thu Supervising Architect shows
| the present condition Of tho nalbsle buildings
| undor tho charge at this Department. Tho do
! snanaa upon tho timo Of tbs SccrelArv arc nnch
that lie eau glyo ltttfo attention. to tho ptagresa
| Of such hutdnYa 10 t4nt, practically, tllo re-
aponsibil!ty aud duty Of lovising plans. mailing
coatractd, Rud aupariutcndil,g Ito eouatruotiot,
aud repairs Of such h,lI'dlngs @evolyo upon tho
supervising Architect. Careful revision Of tho
| atruction Of public bnild.uga III recommended,
| with n view to ourtailing tho coat Ut no1ne
sl1d hnspending others, which, Il is believed.
| mny bo dono without detrinlont to, tho
public sarvice. BY tn menus thure oan bo oifout-
cd aaayiug otconatdorahle sutna at nonay, witch,
under existing appropriations, will bo expended
during tue ourront aua onsrlng fiscal years.
| publiu buildings, plain and simple IN design,
constructed OF aubstantla! aud du,rtha material.
| M nearly iire'proof as may be- and adapted to
| tho convenient and proper tra,aaction Of tho
public busineaa, should bo provided at all nlacos
yllore they arc requisite, ftom .irue to t!n,e. Gu
| tho condition Of tho revenues may permit, but
| tho present Ia not u favorable tin,o for uakiug
largo appropriations for thi4 purpose mil much
tint ~ now eontou'piatod may be postponed
| without sor'ouB Inconvenience.
| oLA1a!H F0u pKOCEHl,R or COTTON.
TAa tlftA Ncotion al thu aae OF A.ay lR, 1879,
directs the Secretary Of tho Treasury to ray 70
tho lawful ow,'als or Their esa! representatives
tho net proceeds, actually paid iuto tue 1'rcaH-
| uiy, OF oil cotton aeixeu after tue Sotu day Of
1nne 1865, by. tho agents Of tho Gnysrnnient
tlnlgNfuiy and in violation Of tholr Instructions
The number VI bales ot cottou seizud after
that date, tho prcoeodI ct which ruachod tho
Treauury, was about 10000, and tho 70: pro-
ceods thereof, averaging. tue sams at flOo por
| baIo, waa ot,0oo,U ,U0o. Tia humber Of cMms