The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1885-05-07
JAMES NJ. GREGORY, secretary. N'''''' i'i''i'
Valuable Information.


In response to the queries of your cor
respondent who asks for information for
himself and others, and which have been
referred to me, beg leave to submit the
following answers
Il. What amount has been funded under
the funding bill of 1970-'7l ~
There were issued under act of March
so, 1871
Consol coupon bonds, tax recelva-
bic Sl5, 090590 90
Consol registered bonds, couverti-
bic into taX-receivable coupon
bonds 5,lSs,23 OF
Total..........................,.s2 ,278. 78O q
OF which there are now outstand-
Consol coupon bonds. tax receiva-
cd ps resstre nova: $i " 299 %
Total....... ......................sl4,29 8787 O6
-. What amount under the McCulloch
bill AID what amount under the Riddle
berger bill ~
(2) There were issued under act of
March IS, 1879 known as McCulloch or
1910 bonds),
Of coupon bonds tax-receivablel,.. ... IS 10000
OF registered bonds. Observation-Disclosures. 5076O0
ss,5l76OO
OF which amount there are now outstand-
or coupon bonds ............... go. 81 $4,000
OF registered bonds. 3l9,7O0
Total...... ............... ..........s7 5Sl, 200
There have been issued under act of
February IA, 1882 (Riddlebergerl
Coupons and registered bonds ......Sl lSS lG2 40
OF which amount there has been
cancelled by the StnkingFund
Commissioners under acts of
MnpO n 1l.N1.l ANN II
Leaving still outstanding. So ,g72 Az s.
OF which amount there
has been purchased by
the Sinking-Fund Com
missoners under acts
of March 10, 1854. .........Sl ,69I ,Sl3 ~
Bought by Miller Manual
Labor School of Abe
marie OBSERVATION-DISCLOSURES. JOOJJ W
Bought by the literary
fund ACKNOWLEDGEMENTS. 33,00O w
-Sl ,s53Sl3 10
Amount in hands of general pub
5o6O4 10
IS. To what extent. if any, have cou-
pons been presented which were ascertain
ed to be and have been pronounced spuri-
Gus ?"
(3) If by spurious your correspondent
means coupons and bonds that have no
right to be funded, then | reply that
good many have been presented.
~ On February 26, 1885, Il cancelle;!
registered bond for 81 600 was presented
by DR.. M. B. Diamond, Of Detroit. Mich.
This DO nd was stolen, OF course.
(2) More lately two coupon bonds, one
for 81 600, issued under act of March 8,
1851, and one for $500, ISSUED under act
of March 2, 1866, were presented for fund
ing by MeSsrS. Thomas Branch s. Co.,
who had previously presented them for
funding to the late Treasurer, Mr.. d. r.
Reyeley, by whom they were rejected. 1t
having been ascertained by the books that
these two bonds had been stolen from the
office Of the Treasurer, the Commissioners
of the Sinking Fund refused to fund them.
Thereupon a mandamus was obtained
from the Court of Appeals, who, upon ar
gument. sustained the refusal There
were upon these two bonds a large num-
Der of coupons, spurious, of course. and
good many had been cut from them and
put upon the market before they were
offered for funding.
81 On the oath of April Messrs. Camp
bell and Schoolcraft funded 80 SIS coupons.
to $3.50. which they say land
he admits it--see his explanation in the
State OF 10Th and Dispatch of Both ApriN
they got from MI. Z. +. Johnston. For
these coupons l issued two fractional GER
2460 and 2461-for SOS. 90
each, making $196.40. The bond No in
these coupons was 1860. When the trans
action came to be recorded it was ascer-
tanned that bond numbered 1860, dated
January l, 1866, with all its coupons. had
been funded December 81. 1871. of course
these coupons offered by Messrs, Campbell
Y Schoolcraft are forgeries.
Messrs. Campbell & Schoolcraft were at
once apprised of this discovery and re- |
luested to return the tainted certificates. |
They declined to do SO, as they do up to |
his date, and notice was at once given |
5he holder that they would not be redeemed
It the office The numbers being known
10 purchaser will be any Danger and the |
Commonwealth will lose nothing.
To facilitate funding it has been the
custom. established at the request of lead |
ng BROKERS, to make out the bonds or GER |
ilieates IN all ordinary cases of funding
md to deliver them to tie brokers, they |
laying engaged to make good any errors
hey lave made, SO far there has been
much forwarding of funding and no loss
rom this custom. But from all the facts
developed by the above cases there is rea-
on to al prehend such extensive frauds in
flrgillia coupon bonds that this practice
viii be stopped FRANK G. RUFFIN,