The Indianapolis journal., 1886-01-05
SCHOOL COMMISSIONERS.
Mr. Frenzel Grows Wildly Excited Over the
Finance Committees Transactions.

Aspecial meeting Of the School Board was held
last night The superintendent's report showed
that the attendance during December was IL
the preceding year it was 10,923 The accessions
numbered 362. while in December. 1884, there
were All.
The secretary reported that during December
warrants had been drawn on special fund to the
amount of So 638 90 library fund. $7202S; tuition
fund, $l4, 263 80 total. $l7 622 %. The treasur-
er's report showed balances to the credit of the
different funds, as follows: Special fund, $70,-
765.35; library fund, $3,77249. and the
Gregg income fund, $45, making the ag-
gregate of the balances, 4,5S2.8 81. The
tuition fund was overdrawn to the amount Of
$50. 248.55. leaving the balance in the treasury,
$l4, 33429 The committees on finance and aud
iting reported the allowance of bills amounting
to 81, 1902. Among the bills that were report
ed as having been paid was one for $50 to S. A.
Fletcher q Co, for exchange on $50 000 Mr.. Fren-
Eel moved to reject this item, and in commenting
on the matter got very much excited. The pay
ment Of the $50 for exchange he declared, was un-
authorized by the board and, therefore, in viola
tion Of the rules. Mr.. Greenstreet, chairman of
the finance committee. stated in reply that he
dctSu In dccOrQance Win MS Interpretation OF
the resolution giving him authority to nego-
tiate the loan. and that he had done
what he believed to be TO the best
interests Of the city and the School Board. The
members of the committee and the president of
the board had acquiesced in the course that he
had pursued. Mr. Frenzel had offered to loan
the board the $50, 600 at per cent, and the COM
mittee found that they could secure the sum 0e-
sired at per cent from S. A. Fletcher & Co..
The $50 for exchange was an absolutely neces-
sary expense. and if the board did not pay it he
would himself. Mr.. Bamberger. . member of
the committee, stated that he had acquiesced in
the action of Mr.. Greenstreet, and remarked, in
cidentaliy, that arrangements had been made
with the county treasurer to secure all the
money needed by the board at 5 per cent inter
est The arrangement was one that he believed
it unnecessary to try to keep secret. Mr. Fren-
Eel insisted that there was nothing of personal
feeling prompting him to take the position he
did. The violation of the rule he regarded as a
bad precedent, and to certain extent immoral
in nature.
was limit to the amount of abuse that could
be endured. He had done what he knew TO be
to the best interest of the board, and
thought that instead of indulging
in abuse of each other the members
could best subserve the interest Of the tax payer
OF the city by endeavoring to work for the best
interests Of the School Board. The wrangle re-
suited finally in the action Of the finance COM
mittee being sustained. Mr.. Frenzel insisted
that in the future when loans are negotiated, he
should be consulted as treasurer of the board.
senting to do this It was decided that the mid
year graduating class of the High school should
be permitted to hold public commencement ex-
ercises