Publisher's Synopsis
Excerpt from Correspondence Concerning Claims Against Great Britain, Vol. 6
Sir: Please find inclosed complete statement of the accounts of your department with the loan, to the 30th of June last, from which it appears that the navy department has received from the loan and that there is still due on warrant no. 428, held by Commander J. D. Bullock, As Commander Bullock is not now in need Of funds, I have not deemed it advisable 'to sell the stock of the loan held by the government to pay this balance. For the same reason it has not been necessary to sell any of your securities in my hands, memorandum of which you will find at the foot of the account.
I have also to advise you that since the 3oth June, to wit, the 5th July, I received from Commander J. H. North to enable me to deposit with Messrs. Erlanger 85 Co. The interest and sinking fund due on the loan of September 1, (by the terms of the contract the deposit has to be made two months in advance.) This sum has been placed to the credit Of your department on the books Of this agency, and debited to the treasury department but it is understood between Commander North and myself that if you do not approve of the arrange: ment, or should order him to make other use of the money, it is to be returned to your department.
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