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386 JOURNAL OF PROCEEDINGS [Feb. 18,
Two certificates or bonds to
Jno. S. Gittings in trust for
redemption of which Legis-
lative authority is asked, as
same are alleged to be
lost -------- 2,000 00
————— $4,000 00
Entry of Coupons Collected.
The committees examined the books of the Treasurer
and found that all the coupons which had become
due, both on the bonds of the State, and those on the
bonds or stocks of private securities held in the Sink-
ing Funds had been properly entered in said books
on the date of the payment of the same.
Recommendations and Suggestions.
The committees would respectfully submit to the
General Assembly the following suggestion and rec-
ommendations :
1. The Sinking Funds on the books of the Treasurer
and Comptroller should be kept separate, all moneys
passed to the credit of said fund should be credited
as credits to these funds separately, and all purchases
in the same way debited, so that at a glance at the
books the condition of each fund could be ascer-
tained.
2 The stocks and bonds not of the State debt should
be stamped "Purchased for the Sinking Fund," as
the law requires, or the law repealed; this law is not
observed by the Treasurer, because upon consultation
with prominent bankers he was advised that such
stamping would destroy the negotiability of the
bonds. The committee are of opinion that the law
empowering the financial officers to purchase private
securities should be repealed, and the purchases for
the Sinking Funds by said officers should be limited
to bonds or stocks of the State.
3. The financial officers should ascertain and report
at their earliest convenience to the General Assembly
what evidence of the unproductive assests named in
said Statement 1 are in existence, and whether the
list of the same as given in said Statement 1 is cor-
rect.
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