The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-02-27
WHERE rs THE MONEY?
What Has Become of the Money that Ought
To Be in the State-House Fund?

rather peculiar condition of affairs in rela-
ton to the NEW State house fund" is disclosed
by the discussion of the bill proposing to invest
IN the securities of the State of Indiana the 10 per
cent reserved by the Statehouse Commission
ers from the monthly estimates of work done
and materials furnished by the contractors, and
suggests the inquiry "Who has got the money!
The amount raised by taxation for the
new State'house was, to Dec 81
Amount from sale of old State-house. 900. 81
Inc amount appropriated by acts of
the Legislature absolutely and I'M
condltlonaly. to the building of the
new State'house is, to the present
date ...-............ SOC, GOO 90
Making in all. Observation-Disclosures 81 492 4O5. O3
by law this money is made a special fund in
the hands of the Treasurer, as the new State
house fund, and can only be drawn out of the
Treasury upon the warrants of the State house
Commissioners
The Commissioners have expended from this
sum:
Salaries and other expenses . l13, 8S5. 81
Total. 81, LOG, 1906 23
AS required by the Statehouse law and the
contract with the State house contractors, the
Commissioners retain from all monthly esti
mates 10 per cent of the amount of the work
done, and material furnished-that is, for
every $1,000 of work and material actual
ly done and furnished. the contractors
only receive 5000, the remainder being retained
by the Commissioners in the Treasury, as an ad-
ditional security that the contractors shall com
ply with the contract, and if they do so comply
me commissioners are required then, by drawing
their warrant, to pay that 10 per cent
obviously, this can not be done unless the full
amount, 100 cents on the dollar of each estimate,
exclusive of the 10 per cent retained in their
custody is in the State Treasury to the credit of
the State-house fund, at the time the warrant is
drawn.
Deducting from the total of the fund 81 492 sos O3
The amount Of actual expenditure. LOG LOG %
Leaving balance in the Treasury Of 1886, 299 so
TO the credit of the new State house fund and in
this sum is included $685. l64 So, the amount of
the III per cent retained by the Commissioners
from the contractors and which has been in fact
earned by the contractors. This is the statement
OF the State-house Commissioners. The Auditor
OF State reports that there is to the credit of the
state, house fund only about $G4 600. more than
$30, OOO less than the money earned by and re-
tanned from the contractors. If the Commits
sloners are right in their statement, by what au-
thorlty or in what manner has this State-house
fund been so reduced! The special committee
NAV recently investigated the treasurer re-
ported that he had in hand not of
money, but assets, of which about
$1,000 was in money, about $3.50, 900,
in all, of the special funds and in the general
fund If this is so, what has become of the new
State house fund! If the State officers are cor
rect there is no money by which the Commits.
sloners can do the work upon the State house
contemplated for this year, nor even pay the con-
tractors the money retained from them on prior
estimates. And the contractors need to serious
~ inquire what has becomed of the 10 per cent
earned by, but retained from them2
If the Commissioners are right. then how has
the large amount of money which should be in
the Treasury, not only for completing the build
ing, but for paying the contractors the money
already earned, been disposed off