The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-05-21
THE FUNDING BOARD.


In accordance with adjournment Wednes.
day the Funding Board met yesterday at 8
o'clock A. NJ All the members present.
Mr.. Halsey, as the representative Of foreign
bond holders, urged some action by the Board
that would set aside the Supplemental Fund.
ing Bill.
He thought that the acceptance of the pro-
visions Of the act by the board would not
only be an injustice TO bondholders, but
would damage the credit of the State. He
petent under the original bill creating them
to disregard the suppleme ntal act
Clinton agreed with him, and as he did
urged the board to exercise discretionary
powers in passing upon the bonds whose
funding was prohibited in the supplemental
act.
Mr.. John Phelps said that, while admitting
that the execution of the law might, to GER
tain extent, damage the credit of the State,
he thought that the credit of the State would
suffer much more if the board undertook to
pass upon or disregard any act of the Legisla-
ture
Clinton offered resolution which read as
follows:
RESOLVED, That "a committee of three be ap-
pointed by the chair to examine the feasibility
of ascertaining the powers of this board to
act upon the authority as given them under
the original Funding Bill, act 3, of 1874, in
funding obligations included in the Supple
mental Funding Bill, and report at the next
meeting.
1t was adopted, and Messrs. Clinton, Phelps,
and Dubuclet were appointed on the commit
tee.
The board then proceeded to pass upon the
applications.
The following were accepted and the obi
cations ordered funded:
A. M. sILBERNAGEL.
warrants act ~, 1870, $500.
] warrant act AZ, 1872, 500.
warrants act Sc, 1873, $135 So.
20 warrants act 100, 1870. 5000.
warrant act 70, 1871. $1064.
2 warrants act H. 1869, 5000.
5 warrants act 35, 1870, $1,000.
FrREMENs CHARITABLE ASSOCIATION, ALGIERs.
warrant act IS, 1870, $500.
JAS. J. TARLEToN, CASHIER
Bonds under act IL, 1870, 5000, 900.
These warrants were issued during War
moths regime as collaterals to the Citizens
Bank, to secure two hundred thousand dol.
lars loaned by the Bank to pay the members
OF the Legislature.
Messrs. Phelps and Baldwin voted against
their being funded.
The following applications were rejected:
John L. Sterry-Red back treasury relief
vicksburg and Shreveport Railroad, floating
debt and Nashville Railroad bonds, amount
ing in all to $4,000.
Z. j. Forstall Sons-Eight per cent levee
bonds, act 32. 1870, SIS. 900.
Edwin Harris-Bonds act of March g.
1867, known as the Wells bonds, $4,000.
Chas. +. Hoffman-Bonds act March &C.
1870, $1,000; act February Is, 1866, S28, 900;
per cent levee bonds, $4,000.
L. f. Generes-New Orleans and Opelousas
Railroad, $4,000; Vicksburg, Shreveport and
Texas Railroad, $4,000; act April 80, 1853,
$4,000; Jackson Railroad, $1,000.
LATTE, Dufilho & Colo bonds New Or
leans and Opelousas Railroad $40, A
bonds jackson Railroad, $4,000.
Thos. G. Anderson-Acts 80 and 100, of
1872, S2526 g.
Jas. J. Tarletou, cashier; 60 bonds, act
February IL, 1869, and act February 21st,
1870, 100000
The application of John B. Manning, 10
bonds, redbacks, $4,000, was laid over, as was
also the application of Jas. ]. Tarleton, CASH
Ter, 70 Penitentiary bonds, act March 1st,
1869, $4,000.
A resolution instructing the Attorney Gene
raj to file test suits against the obligations
specified in the supplemental funding bill
was adopted.
The Bard then adjourned until Wednesday
next