The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-05-25
Tss u FUNDING BOARD.
H. Carefully Continues its Investigation
Into the Merits Of Old Bonds.

H. Carefully Continues its Investigation
Into the Merits Of old Bonds.
The State Board OF Liquidation met on Thurs
day al 1850 q. M, quorum present.
Lieut.. Gov. Witt presented communication
enclosing claim of The late w. 2. Noble, in pre-
p,ring an index Of the acts OF the Legislature Of
1878 4, amounting TO $4,000, for which warrants
were issued, aud asking thst they be funded,
The Lieutenant Governor, reporting az q com
mittee atp ,iIted, that the warrants COuld not be
funded, as a relief aot had been passed by sub.
seuuent Legislature. The report was received.
Mr.. Baeh prvsen I'd q notarial copy OF the con-
tract drawn between the fiscal agent and the
board, explaining some slight inodlhcations
sgent had agreed to the notifications.
The notifications had been made under reso-
luton of the board, and OH motion trey were
agreed to by the board.
Mr.. Perslta by request, presented . list OF the
bonds issued in 1868, which Mr.. Bush stated
would be Of great service to the board.
The list was then read showing the bonds sold
by the state, under aot 81 OF 1874 tho list being
read and O impaired with = statement furnished
by the State Treasurer--ihs same that was pub.
ished In THURSDAYS DEMoCnAr.
With the exception OF one clerical error. the
lis,s were found TO agree wherein on the Treas
urer presented to the board for Its examination
THE ORIGINAL RECEIPTS
in his possession for the nds named that were
sold, in order that further comparison might be
made, which the board did not doom necessary.
A comparison of the various series OF bond was
then made with
KELLouG's PUBLIC DEBT STATEMENT,
published In June, 1876. and it was found that
discrepancy OF s25 600 was found in the bonds
issued to the New Urleaus, Jaokeou at1 Great
Northt I'm Il ilroad. A discrepancy OF Slo OOD was
found in New Ofleane, Opeiousas aud Great
Western Railroad The Vicksburg and shreve-
port esue was found to be one over. and the New
D leans and Nashville
the Treasurer's iecsipts and the lists were
then compared each series being examined, and
the amounts we . found to correspond.
| The Lieutenant Governor moved that further
examination be postp ,ned, ava Messrs. Alo'ge,
Koputz and Hammond, who made, in 1876, the
| report upon the Auditors ofice, we're Invited 70
| be- present to give what Information they could
as to the old ssues mentioned in their report OF
the year named, and as to their data III supse-
| quen 1y act IL OF 1875.
MIR, Black Thought the board could continue
| tho work OF funding by passing upon the ques
| toned series, with y provision that shonih the
bonds be questioned the action could be r. versed
Without action, the board took up the appioa-
ton OF u J. Forstul'a Sons, The frat iseue con-
| sidered being the New Oresnp, Opslousas and
Great Western Railroad, issued under act 23l oil
| 1853.
The Lieutenant Governor read the report oil
| the Aldige Committee, relative to the Issue.
Mr., Bush explained the varions laws under
which Tho honda were issued, and remarked that
| unless tho nrnbioiton set No. ii covered the
| bond IL should be iuDdsble.
Mr.. Bush then moved that tho Opelousas,
Jackson, Relief Of the State Treasury and such
| other Issues of that claes did not come under
the prohibition act, be declared fundable.
Oar led.
These ,nds include those not questioned, ~
sued and known as the 'Free seboo'," New Or-
leane. Jsc sou and Great Northern Railroad,
New Orleans End Nashville Railroad" "Vlcks-
burg, Shreveport and Texas Railroad, "Mexic"n
Guf Railroad Company" "Baton Rouge aud
Crosse Te,e Railroad" aud for the "Heief OF the
State Treasury"
The applications were then looked over until
one was reached, which included come OF the
'ied back" (sot is of 1866 issue, which was ques
| toned, when tia Lieutenant Governor agaln re-.
ferred 10 the Aldige r. ,rt and read to the board
! that part relating 10 he issue.
without further action the board adjourned
| until Ia m. to-day.