The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-05-26
THE FUNDING HOARD.
The Fiscal Agent Approves the Contract
and Files Ills Bond.

and Files His Bona.
The Funding Board met yesterday. q quorum
present And there were also present, by invita-
tion, Messrs Aldige. koontg and Vim. Hammond
members q .he committee OF 1875, which investi.
gated the proceedings of the Funding and Audit.
ing Boards.
IL was passed through the Senate In two daya
shout the time the committee was appointed.
Tho object Of requiring the attendance OF these
gentlemen was to ascertain upon what data the
table Of questioned bonds wan prepared, which II
found In act No, ii afor aeaid, aud also tho data
which was The foundation Of tho report Of the
committee.
MIR. Aldige and other members stated that tho
examination which they had made disclosed the
utmost irregularity IN the manner OF keeping tho
records OF proceedings. Sometimes they were
kept by ono person aud then by another.
The gentlemen could not furnish tho desired
Information until they had refreshed their men,
cries on tho subioet. The data upon which the
report was made was from tho regular sources,
such as the records in the State offices.
The board, on motion. then decided that bonds
issued under act 10, 1865 for settlement Of past
duo conpons, known as red backs" were de-
MIR. Elmer. Bader asked II the board ruled that
all the bonds rejected should DO tested separate
.ly or 40 class.
The board would take no action in this matter
leaving II for the courts to decide.
MIR. Kennedy presented his authorization from
the Board OF Directors to enter into contract
as Fiscal Agent. The contract, ne drawn up by
tho notary, was read and approved. Also the
bond OF tho Fiscal Agent upon which the sure
Pierre Lsnaux, Thos. A. Adams, J. L. Harris, H.
Hernsheim, David urquhart, A. Moultop, Chas.
IL. Fenner, \, O. Boyd.
Tho bond IL for 100000.
The bond was accepted by the Governor.
The board concluded an examination OF the list
of applications, and decided upon such as were
accepted as fundable uuder the resolutions hith-
erto adopted.
The secretary was instructed to consolidate the
applica ions OF each applicant which have been
on the list TO appear Monday, when the funding
will commence
Messrs. Reggie and James Campbell were
elected exp'rts.
pons be referred to experts for examination and
identification.
Mr. Bush offered the following resolutions,
which w re adopted:
Whereas the State National Bank. s. H. Ken
nedy, President has comp led with the law aud
entered into contract, as aequir, d, az General
Fiscal Agent, according TO statutes OF 1877.
Ordered as follows.
1. That the state National Bank, whereof Saml
H Kennedy is now President, is hereby declared
the General Fiscal Agent OF the State Of Louis
lana, and is entitled to be acknowledged and
dealt with accordingly.
a That tho Auditor OF Public Accounts and
State Treasurer aud former Fiscal Agent, j. d.
Oglesby, Esq, be duly n titled thereof.
2. ThAsJ. II. Og.esby, Esq, former Fiscal Agent,
with the approval and concurrcIcs of Antoine
Dubuclet, heq, State Treasurer. which is now
given. be requested and authorized to deliver to
the said State National Bank all the papers, docu
ments, bonds, coupons, warrants, funds and
money, which should be in custody of the Fiscal
Agent according to law, on duplicate receipts,
one Of which shall be filed with the State Treas
urer.
There we're other resolutions relative TO the
payment OF the interest coupons, and the ad-
vanees to be made by the Fiscal Agent, but
action was postponed uatil Monday.
The board adjourned until Monday at ID m.