Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1894-01-08
RICHES IN OLD BONDS
CURIOUS FEATURES OF THE TREAS
URY DEPARTMENT.

CURIOUS FEATURES OF THE TREAS
uRY DEPARTMENT.
largo Sums Uncallcd For and the Owners
Not Known-How an Old New Engiander
Wa. Surprised and Made Happy-The
widow and the Old ''Tax Receipt"
There is mine of interesting matter to
be CLEANED from the United States treas
ury by any one who knows where to
search. An old treasury official, now liv-
ing in New York city, said: "There is any
amount of money due people who do not
call for 1t in the United States treasury.
You see, there have been 10 great loans
made to the United States in the past 60
wears. The Oldest ever had anything to
do with was that maturing in 1861
think it was. 1t is about all paid, but
there is still nearly $4,000, in principal
and interest, due to somebody. 1t will
probably never be called for. And, speak
ing Of that loan of 1886, there was Curl
GUS incident connected with my last refer
ence to those old books relating to that
claim. It was while Judge Folger was
secretary One morning an old man came
in to me who was from New England
state. He said that about 80 years ago he
found some old stocks or bonds ameng the
papers of an uncle-mentioning his name.
He had been a man of national reputation
for financial ability and made a comfort
able fortune for those days-that is, from
1920 to 1S4O-and he had come to the
United States treasury to find out il these
old papers were worth anything. As they
seemed to be United States bonds looked
at them. They were 10 Of the ''old debt"
bonds and were indeed curiosities. They
were old and yellow from age, but were
worth, principal and interest, $4,000 in
gold, for there was 10 years interest due
on them.
"You can imagine the old mans amaze
ment when told him this. why, would
gladly have taken s., 900 for them, said
he, and offered them to Boston banker
for less than that, but he rather supercil-
iously and contemptuously declined to buy
them mt any figure / took the old man
to see Judge Folger, who was very much
interested in the matter when explained
| it to him. He had never seen any of the
old loan securities, and after these were
paid and Cancelled 1 believe he directed
that one of them be framed and preserved.
Well, in less than an hours time the old
New Englander walked out of the building
| with check in his pocket on the New
York subtreasury for $4,000 in gold.
| How that smart Boston banker must
have cursed his own ignorance and stu
pidity when he learned what he had
| thrown away! t,.i 1851. -.
"A circumstance very similar to this oc-
Cured in relation to some Texas indem-
nifty bonds-the next oldest of our nation
| al loans-when Mr.. Morrill, was secretary
of the treasury. A prominent southwest
ern man, who had held high command
in the Mexican war and was Confeder-
ate general officer, left among his papers a
| certificate of Texas indemnity stock, as
| it was called, for $4,000. His widow
visited here soon after her husbands
death, and being very much reduced was
| consulting the late Mr.. George Riggs con-
corning the disposition of some Texas
| lands. knowing that her husband had
been large holder of these securities, Mr..
Riggs said, Mrs. -, what did General
- do with his Texas indemnity stockf
Il really don't know the lady answered.
Il never heard of any such thing BY
the way she said a few minutes later, Il
saw in an old envelope found among his
papers not very long ago something which
had the words Texas indemnity Oh it,
but i thought it was an old receipt for
taxes paid on the Texas land DO you
think you can find it again. said Mr..
Riggs, without telling her anything which
would create expectations that might new
er be realized. 'Oh, yes, she replied. i
remember perfectly well where put it. ,
Have it sent to me here, was the next
suggestion of the banker 1T is as well to
have all tho papers relating to this land
together In the course of the next fort
night the lady came into the bank, and
handing Mr.. Riggs paper said, Here is
the tax receipt However, it was u s10,-
900 Texas indemnity certificate, on which
five years interest was due, and the in
tense qualification of the lady may be
imagined when she was told that the old
yellow bit of paper would add S12 800 in
gold-which was then at a small pre-
mium-to her worldly goods. 1t came just
in time. too, for she was able with the
money to save a valuable estate in Arkan-
sas, which otherwise would have been sold
to foreclose d mortgage overdue. Nearly
all the Texas indemnity bonds have been
paid long ago and do not think there
call NC InOTc tudu SSo,VoU WulCu has uOI
been called for. OF course interest has
ceased to accrue.
1.-THE next United States loan was that
known in the market as the $50, bond
that could be paid in five years, Or in 20
after its maturity, as the government
might choose. 1t reached the limit seven
years ago ara has nearly all been paid.
1t was very largely held in Europe. There
remains only about $500, 900 outstanding.
"What percentage of United States bonds
do you estimate will never be presented for
payment" was asked.
sit is not possible for me to make any
estimate that would be at all accurate"
was the reply.
"In England about opc-quarter of per
cent is the figure. What becomes of the
bonds Of course cannos say, but they are
lost or destroyed. The government, on
proper proofs being made of the loss of
bonds, or of their complete destruction,
will issue new snes in their place or pay
the money value of them to the loser. Not
very long ago mass of wet green paper,
which was nearly pulp, was sent to the
treasury department with statement pro-
perly verified that the / a gallons OF
greasy, bad looking and worse smelling