The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1876-06-22
Totals .$757,130 As % 500 81
Less over pay't on Smith co.bs 81 .........



ANDREW j. Dorm, Treasurer.
1t will be noticed that there is an accu-
mutation of funds to the credit of Univer-
sity fund, arising from land sales, amount
ing in currency to $106, 046 "a, and in
specie to 81, 648. 10; to the credit of the
Agricultural and Mechanical College fund
So, 46S; to the credit of Blind Asylum from
land sales, 81, 551. "a to the credit of the
Deaf and Dumb Asylum, resulting from
land sales, So 314 81.
These sums, together with such further
amounts as may be received from similar
sources for the same purpose, we recon-
mend to be invested in State bonds and the
semi-annual interest collected by the State
board of education and placed to the credit
of the different accounts IN proportion to
their interest in the same. 81
Among the securities examined Ia list of
which is hereby appended) we find some
which are of no value, and we therefore
recommend that they be blotted out, as
they only cucumber the reports and have no
real 0aIue, to-wit:
Comptroller's certificates to the credit of
Especial loan tax" We understand this
amount to be the product of loan tax
levied during the late war, and paid in
treasury warrants, which of course are now
valueless.
We also found per ceut. State bonds to
the amount of $500, 367.13, which are des-
lgnated as doubtful by the Comptroller. 1t
appears that these bonds were substituted
for similar amount of treasury warrants
received during the late war in payment of
gold interest and sinking fund due the
school fund by the railroad companies in
debted thereto.
The railroad companies have since been
COmnnllnd ha of fhNc
amount, with interest, in good and lawful
money, and we therefore recommend that
these bonds be destroyed
We further found Comptroller's certifi-
cate for $40 300.41 to the credit of Univer-
sity fund. 1t seems that the amount was
received IN treasury warrants during the
late war, in payment for University lands.
We would therefore recommend that this
item either be blotted out or registered
bonds of the State be issued for said
amount with interest, and placed to the
credit of the University fund.
Registered U. S. bonds 8 D r cent S 357 $50 90
Regis cred U. > bonds, per cent. 107,5O0 OO
Coupon u -. bonds, q per cent. .-...... 1900 90
1 Total United States bonds. S 477.O5O 90
State Of Texas 5 per cent bonds. 8 216.641 O5
stale OF Texas per cent. bonds ia 600 o.
Total valid State bonds ....$ s9O,64 Os
Brazos cour ty 10 per cent bonds .S 1880 90
STATE of exas cent. bJnds. doubtful 3aOs67 ID
Comptro ler's certfc Ites. ........... a. 400 50
Comptroler's cert fcates. 80. 10 3OJ Al
H., T. & B Railway bonds 300 600 90
II. & T. C. Railway bonds..... ....... $4,000 90
Texas and New Orleans Railway. $4,000 90
G., II. ). A, Railway ......... ........ 420 600 90
Washington County Railway .......... $50 0 90
Southern Pacific. ............ $4,000 90
Hrs saao9 $1,8l6.OoO 90
We also found among the railroad bonds
in ha vaults If ha Trea surv hnnda of he
Houston Tap and Brazoria Railway to the
amount of $500, 000 This road was sold
out by the State several years ago, and
such amount as was received in purchase
therefor paid into the Treasury. The bonds
above alluded to are therefore entirely
| worthless, and should not longer be per-
mitted to cucumber the books and reports.
If this amount be deducted from the list of
railroad bonds, it will leave the amount
! 81, 516, 500 of solvent bonds. We find,
however, that the Comptroller is collecting
interest and sinking fund on 50, 046, 091 Sc,
as the statement is made up to May 1, 1876.
The discrepancy between the actual
bonds on hand, to-wit, solvent $1,516 500,
and the actual amount drawing interest$2,
046, 091 Sc, is accounted for as follows:
By the act of the Legislature in 1870 the
railroad companies of the State were COM
PEELED to assume the amount OF interest due
from them in gold, and which, during the
war, they paid in Treasury warrants.
We therefore suggest that In lieu of the
| figures carried on both Comptroller and
1reasurer's reports, viz, $1,753, 317, they
should both take up on their reports the
true amount at interest, viz, So, 040, 091.56,
as follows:
| d. 4. G hailway- -----..----- oss,5A y
| Washington Ciunty Railway. -...-....-.. g2gu 8
| sou nern racine Rslway ..--.--...--. !ss,sl "
Texas and New Orleans Railway 5t2, $50 z
o., ii, q b a hallway -....-..-..-.-. 5oz,sSs 2
S2.O4s.ogl 5,
All of which is respectfully submitted.
! CARROLL, Chairman.
Hon. T. r. Bonner, Speaker Of the Hous.
Of Representatives:
| Your Committee on State Affairs, to whom
was referred House bill No. 300, entitled
IAN act for the relIef of the heirs of DR..
George W. Peete," and the accompanying
papers, have had the same un0er considers
ton, and respectfully report that their sym
pathies have been fully aroused by the
prayer of the petitioners, and the commit
tee feel that the family OF that brave and
good man ought to be compensated Is far
L - 81.