Nov. 30. S. D. Elwood & Co., stationery, for State Treas., - Joel Smith, for one month's services as porter, new 66 66 M. H. Webster, for 2 forcing and lifting pumps, $6 13 100 00 10 01 30 00 30 00 47 96 460 00 12 63 11 75 hose, &c.,... 105 00 D. W. Buck, for repairing and varnishing furniture, 7. 00 H. L. & H. Baker, for painting and varnishing fur- 10 88 J. C. Bailey, for expenses to Detroit, on business 16 50 Francis Otteney, for board, while serving as porter at Capitol, 36 weeks,. 72 00 H. B. Rowlson, for adv. salesw'mp lands, and post'nt, 22 40 J. F. Clark, for services as clerk, Land Office,.... porter, Capitol,........ 50 00 36 50, Nov. 30. A. S. Butler, services, clerk, Sec. State, Wm. Houghton, for 110 feet lightning rod, and 2 O. B. Rice, for transportation on pump, from De- Stanley Briggs, for bill of nails, &c.,... H. L. & H. Baker, for painting lettering, &c., new S. D. Elwood & Co., for stationery, State Treas., $50 00 17 75 6 16 18 16 70 31 38 00 9 75 24 00 Wm. W. Van Antwerp, for publishing sale of Prima ry School Lands,. Henry Moots, for furnishing lumber and making box es for State Reporter, and State Offices,. twice, on business for State,... State Treasurer, for amount paid laborers grubbing 200 62 18 30 25 73 25 30 00 Ottawa streets, . - .. 155 63 J. H. Lobdell, for sundries, for State Offices,..... 8 18 6 00 Nov. 30. J. C. Bailey, for amount paid Sagendorph, Darling, and others, grading for plank walk, and team work,.... $18 00 No. 3. LEGISLATURE, 1855. ANNUAL REPORT of the State Treasurer. STATE TREASURER'S OFFICE, To the Legislature of the State of Michigan: The undersigned has the honor to submit the following, his Annual Report for the fiscal year, ending Nov. 30, 1854, containing statements showing the condition of the several Funds. The balance in the Treasury on that date, was Five Hundred and Fifty-three Thousand Four Dollars and Eight Cents. During the fiscal year just closed, all demands on the Treasury have been promptly met, and a large surplus has accumulated with the public depositories, for which the State has this year received interest at the rate of per cent per annum. 3 I submit also, herewith, the Annual Statements of the condition of the several Banks in this State, at the time of my Annual Examination in December. In regard to the Government Stock Bank, at Ann Arbor, I have to report that, something like a year since, the Bank demanded of me a further issue of countersigned notes, on the securities then on deposit in this office, which consisted of U. S. Stocks, and upon which I had issued notes at par, or 100 cents on the dollar. The Bank claimed a right to notes to the amount of the market value of the securities, which at that time was 109, which I refused, but afterwards, on their filing in my office the opinion of the Attorney General, that they were entitled by law to them, I issued the amount demanded. On the first day of December last, the Government Stock Bank of Ann Arbor, having refused payment, on demand, at its office, of $39,300 of its notes, the holder thereof, on the 2d day of December, made and filed in this office, his affidavit of the fact, pursuant to the 7th section of the Charter of that institution; by that section, the State Treasurer is, in such case, required to "give public notice that the notes of said Bank will be redeemed at his office;" and he is authorized and required thereby, "to sell at public auction or private sale, within twenty days, so much, of any stock deposited with him, as shall be necessary to redeem any notes of said Bank, and apply the proceeds of said Stock in the redemption of such notes." The undersigned, deeming that this section authorized and required the Treasurer to proceed at once in such case, to the redemption of "such notes" as might be specified in the affidavit, and not doubting that the Stocks deposited in the Treasury, for the redemption of all the notes of the Bank, were, at the rates at which they were held on deposit. fully sufficient to redeem all its issues at par, or with such small discount only, as the present depreciation in the value of said Stocks might cause, proceeded to make an arrangement with the holder of the notes referred to, by which, in redemption thereof, he delivered to the holder, so much of the Stocks deposited, as at the rate of 109, would fully redeem the bills specified in the affidavit. The undersigned, on the 7th day of December, proceeded to advertise the remaining stocks of said Bank, amounting to $37,500 for sale, as required by the 7th section of the Charter of the Company, and notified all holders of notes of the Bank, that its notes would be redeemed at his office, out of the proceeds, pursuant to the 7th and 12th sections of its Charter. These Stocks were sold at private sale to the Peninsular Bank of Detroit, and realize 106 on the dollar, and the proceeds are retained in the Treasury, for the purposes contemplated by law. At the earliest time practicable, the undersigned, in concert with the Secretary of State, acting under the 12th section of its Charter, declared the Bank insolvent, and appointed Addison Mandell, Esq., of Detroit, Receiver, &c., of all its assets, who gave approved bond, as |