The weekly sentinel. [volume] (Winston-Salem, N.C.) 1886-1887, 1886-06-10
MR.. REID'S STATEMENT

Relative to His Financial Transactions
While Treasurer of Rockingham
County.
WENTWORTH, n. c., May %, 1886.
To the People Of Rockingham County:
There having been circulated and
published several statements rejecting
on my conduct while County Treasur-
er, in pledging certain county claims
for a loan Of money for the use and
benefit OF Rockingham county, / deem
it my duty, in justice to myself and to
my constituents, to make public a de-
tailed statement of the transaction in
question.
In June, 1884, the Board of Com
missioners determined to enlarge and
improve the county court house. A
building committee was appointed and
an architect consulted, when it wa.
ascertained that the proposed work
would cost between $1,000 and $4,000.
Desiring to secure the benefit of the
lowest cash prices for material, and at
the same time avoid the necessity for
a special tax, the Board requested
me, as Treasurer, to provide the
money to meet the cost Of construction
as it matured, and also to keep the
ordinary county expenses paid, agree
ing, to reimburse me for any interest
or other proper costs incurred i'll fol-
lowing out their direction to provide
the money. carried out their request
and instructions, and promptly paid
all bills incurred for the court house
work and ordinary county expenses.
AT my regular annual settlement,
made on the 21st day Of February,
1888, after the completion of the court
house, there was a balance due me of
S6,534.063. | informed the Board
that it would be impossible to pay all
this amount out of the taxes for the
ensuing year, and at the same time
meet the usual county expenses, and
desired them to issue me an order for
the amount that l might negotiate
loan Herewith when the necessity
arose. This they did, and very soon
thereafter some claims and county
bridge bonds being presented for pay
ment, on March 1st, 1888, 1 borrowed
from the Wachovia National Bank
the sum of $4,000, pledging the said
county order as collateral security,
accompanied by certificate OF its
regularity and validity. With this
money paid off and stopped the
interest OH county bridge bonds to
the amount of s1,70484, Of which
bonds $4,000 worth had been issued,
and used the balance of said loan of
$4,000, together with some other
money of my own, in taking up county
claims to the amount of S2,439S1
At my next annual settlement, made
on February 4th, 1884, informed the
Board that l had pledged the claim of
S6,534O63 to secure the loan of
$4,000, assigned my interest therein
to the extent of the loan, and taken
up the s1,7O4.S4 of the bridge bonds
and S2,439.S1 of county claims, both
togther amounting to s144.65 more
than | borrowed from the Bank, and
that l held these bonds and claims so
taken up to pay off the $4,000 and
take up the order pledged just as soon
as the sheriff could collect and pay in
the money. l also requested the Board
to allow me credit for the claim of
Sc, 534.O64, and upon receiving from
the sheriff the S1,7O4S4 paid on the
said bonds, and s2,439.81 on the said
county claims, that | would pay off
the $4,000, and take up and file the
claim Of $6,534.064. They admitted
the credit on this condition, knowing
l had the county claims and bonds as
stated. In fact the money was bor-
rowed purposely to take them up, and
the bonds and county claims would
have been put in the settlement also,
but it was expected that the sheriff
would take them up in short time
and they could go into the next set
Element.
On striking the balance at this set
Element there was due me, in addition
to the amount of the bands and claims
as above stated, orer and above my re-
ceipts, the sum of S5.27333. | further
informed the Board that the sheriff
could not pay off more than the amount
of the said bonds and claims taken up
by me as above stated, out of taxes for
that year, SO as to enable me to pay
off the 100000 due the Bank and
meet the usual current expenses, and
requested them to issue the balance of
S5.273.33 in several orders, that |
might use them as necessity arose.
This they allowed by the terms of the
following order recorded in their min
ute book "The reports of the COM
mittee appointed at the last meeting
to audit and settle the accounts OF
JAS w. Reid, County Treasurer, were
received, approved, and it is ordered
that the said Treasurer be allowed
ORDERS for the aggregate sum TO be
due him ON his settlement for the
county and poor taxes as per the re-
port of the committee This Or
der was made by the Board in regular