The amount of funding bonds issued last…

chunk 501 · paragraph 1944

. The amount of funding bonds issued last year, to take up outstanding warrants, appears to be, from the clerk’s records, $87,900, while the warrants described, as to number and amount on the bond record in the clerk’s office, together with the interest on same, not deduct- ing the warrants appearing in duplicate, or for larger amounts than they appear to have been issued for, on the correspondingly numbered warrant stubs, amount to but little over three- fourths of the total amount of the bonds issued on account of those warrants. The excess of bonds issued over the amount of the warrants as having been cancelled is over $20,000 and as the record does not show what warrants were cancelled on account of any particular bond, who have been the beneficiaries is not shown on the record. Your committee cannot find words of suf- ficient strength to express the bad condition of affairs in this office, or to properly characterize the astounding discoveries which were made. We desire to acknowledge the valuable services rendered to the committee by A. J. Loomis who was sworn by you as an expert to assist us in our investigation. Respectfully, John S. Swift Julius Wagner Victor Culberson Committee To the foreman of the Grand Jury: