SPECIAL REPORT OF THE COMMISSIONERS OF THE SINKING FUND. IN ANSWER TO HOUSE RESOLUTION OF JAN. 24TH. IN HOUSE, Jan. 30, 1857. Laid on the table and ordered to be printed. FUND;} OFFICE OF THE COMMISSIONERS OF THE SINKING FUND, To the Speaker of the House of Representatives: SIR: In obedience to a resolution of the House of Representatives, passed January 26th, calling upon the "Commissioners of the Sinking Fund" to report1st. "The amount of bonds of the State of Ohio offered for sale during the past year." 2d. "A full and detailed statement of all bids made for the same." 3d. "The amount of bonds sold, together with the price sold at, and the names of the purchasers." 4th. "A full snd detailed statement of all the public stocks in canals, railroads and turnpikes, that have been offered for sale during the past year." 5th. "A full and detailed statement of all bids made for the same." 6th. "A full and detailed statement of all such stocks sold, together with the price sold at, and the names of the purchasers." I herewith submit the following statement: In July last, in pursuance of an “act to provide for the payment of the public debt, due January 1st, 1857, (amounting to $2,508,709 79,) passed April 8th, 1856, the "Commissioners of the Sinking Fund" caused notice to be published in the New York, London and Paris journals, that proposals would be received, at the office of the Ohio Transfer Agency, until the 1st day of October, at noon, for a loan of $2,400,000, for which certificates of Ohio State stock, bearing six per cent. interest, and redeemable at the pleasure of the State, after December 31st, 1886, would be given; in pursuance of which notice, some thirteen bids were received, ranging in amount from $5,000 to $250,000, and at from 2 to 7 per cent, premium; a small amount at 8, 9 and 10 per cent. pre mium; one bid for the whole at 2 per cent., and one bid for the whole amount at 3 per cent. premium, all of which will more fully appear in the detailed statement hereto appended. Upon examination of the bids, it was found that from 31 down to 2 per cent., there were bids for $530,000; from 4 to 5 per cent. premium, bids for $659,000 from 6 to 7 per cent. premium, bids for $590,000-$92,500 at 8 per cent., $5,000 at 9 per cent., and $5,000 at 10 per cent. premium, amounting to the aggregate of $1,891,500, leaving a balance of $519,500 to be provided for, for which there appeared to be no demand, either speculative or otherwise. In this view of the case, the commissioners were compelled to do one of two things, viz: to accept the bid of 34 per cent. premium on the whole amount, or accept only such bids as ranged over that amount, and open a "stock jobbing office," and take their chances in the market for the sale of some $1,000,000, for which there was no bid over 3 per cent. As the commissioners were unwilling that the State should be presented in the humiliating attitude of a stock-jobber, hawking her own bonds in the market, they accepted the bid of H. A. Johnson & Co., for the whole amount of the loan at 3 per cent., premium. Under this arrangement they have issued bonds to the amount of $2,400,000, for which H. A. Johnson & Co. paid to the credit of the State, on the first day of January, 1857, $2,484,000. DETAILED STATEMENT OF BIDS FOR THE LOAN OF $2,400,000. 4th. A full and detailed statement of all the public stocks in canals, railroads and turnpikes, that have been offered for sale during the past year, is as follows: TURNPIKE STOCKS. Stocks held by the State. Batavia Turnpike and Miami Bridge Company... Cincinnati, Montgomery, Hopkinsville, Rochester and Clarksville Turnpike Company.. Cincinnati, Columbus and Wooster Turnpike Company $30,250 00 52,400 00 86,050 00 44,850 00 75,800 00 Cincinnati and Xenia Turnpike Company. 178,650 00 Circleville and Washington Turnpike Company. 71,905 00 Colerain, Oxford and Brookville Turnpike Company. 85,775 47 Dayton and Springfield Turnpike Company Dayton and Covington Turnpike Company. 55,450 00 31,480 09 Dayton, Centreville and Lebanon Turnpike Company. 49,450 00 Dayton Western Turnpike Company 66,900 00 Great Miami Turnpike Company 57,199 89 Goshen, Wilmington and Columbus Turnpike Company. 102,725 00 Hamilton, Springfield and Carthage Turnpike Company. 33,450 00 Hamilton, Rossville, Darrtown, Oxford, and Fairhaven Turnpike Company 49,742 00 Hamilton, Rossville, Somerville, Newcomb and Eaton Turnpike 5th. "A full and detailed statement of all bids made for the same," is as fol lows: Batavia Turnpike and Miami Bridge Company. Cincinnati and Harrison Turnpike Company. COMPANY BIDDING. Cincinnati, Hopkinsville, Rochester, &c., Turnpike Company- First Bid Scatter by one ing by difPerson or ferent Comp'ny Persons. $1,900 800 27.500 Cincinnati and Hamilton Turnpike Company 4,000 Cincinnati Columbus and Wooster Turnpike Company Cincinnati and Xenia Turnpike Company 19,000 Circleville and Washington Turnpike Company Colerain, Oxford & Brookville 25,000 2,500 Dayton and Covington Dayton, Centreville & Lebanon, " Dayton and Western 66 Great Miami Goshen, Wilmington and Columbus Turnpike Company. 100 Hamilton, Springfield and Carthage Hamilt'n, Dartown, Oxford & Fair Haven " 1,500 500 900 |