covering, say three dollars for every one that there is a probability of their receiving, would be sufficient for all practical purposes. Bonds are now sometimes executed, covering a sum exceeding one hundred thousand dollars, with no probability of the principal's receiving more than two or three thousand dol lars.

Below I append a tabular statement showing the condition of the accounts belonging to the respective Trust Funds as they appear upon the books of this office, and I take this opportunity to remark, that their care is a work of great importance, requiring unceasing vigilance on the part of the book-keeper to prevent the occurrence of errors.

All of which is respectfully submitted.

No. 6.

LEGISLATURE, 1861.

ANNUAL REPORT of the Board of State Auditors.

OFFICE OF THE SECRETARY OF STATE, }

Lansing, Dec. 1, D.

To the Hon. Legislature of the State of Michigan:

In obedience to the requirements of law, the undersigned respectfully submit the following Report, showing the proceedings of the Board of State Auditors for the fiscal year ending the 30th day of November, A. D. 1860.

N. G. ISBELL,

Secretary of State,

JOHN MCKINNEY,

State Treasurer,

JAS. W. SANBORN,

Com. of State Land Office.

LANSING, Dec. 15, 1859.

The Board of State Auditors met and organized for the purpose of making the annual settlement with John McKinney, State Treasurer, as required by the Act of the 7th of April, A. D. 1851. Present, Hon. N. G. Isbell, Sec'y of State, Hon. Daniel

L. Case, Auditor General, and Hon. Jas. W. Sanborn, Commissioner of State Land Office. After having examined and compared the accounts, exhibits and statements of the Auditor General and State Treasurer, we find that there should have been from cash received by the said John McKinney, as State Treasurer, at the close of the fiscal year on the 30th of November last, the sum of one hundred and sixty thousand four hundred and sixty-six dollars and forty-eight cents, ($160,466 48,) but the State Treasurer being absent, the Board, on the request of his Deputy, defer the examination of the funds for his return.

LANSING, Dec. 27, 1859.

The Board proceeded with the settlement of the State Treasurer's accounts, he being present. Theodore Hunter, Deputy Treasurer, being sworn and examined, we find that on the 30th day of November last, the Treasurer had on hand in cash, in the vaults of the Treasury, and in legally constituted banks of deposit, the sum of fifty thousand two hundred and sixty-seven dollars and seventy-three cents, ($50,267 73,) also that the following deposits or sums of money were due to him as such Treasurer from the following banks, persons, and firms, viz:

Peninsular Bank, of Detroit, the sum of four hundred and seventy-three dollars and twenty-five cents, ($473 25). Artisans Bank, of N. Y. City, the sum of thirty-five thousand nine hundred and thirty-three dollars and eighty-nine cents, ($35,593 89). C. T. Anthony, of N. Y. City, the sum of sixteen thousand two hundred and five dollars and ninety-nine cents, ($16,205 99). Loomis & Whitwell, of Jackson, Michigan, the sum of two thousand nine hundred and twenty-five dollars and sixty-two cents, ($2,925 62). D. McIntyre, of Ann Arbor, the sum of five thousand dollars, ($5,000 00,) none of which deposits or sums of money are secured by an approved bond, as required by Act No. 105, of the Session Laws of 1855. Said John McKinney, also, as such Treasurer, presented to us a receipt or certificate, made by E. H. Hazelton & Co., for fifty thousand dollars, ($50,000 00,) which is dated July 1st, 1859,