The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-11-30
ORE FUNDS MISSED.
...ther Shortage Of 500 in
Krug's Accounts
- SALE REDEMPTION MONEY.
- - Loose Cash which Csnnoe De
,~~.H Another Probien for she
rSessmsss 90 wrsssls Win.

a.a1her shortage has been discovered In
s. risv treasurer's ONCE, amounting to
ssse.s 800 and 500. which IL not included
S - Hyug settlement. A thorough ex-
.ss.1fios, OF the city treasurer's books
So ben made by Messrs. Agnew and
Slkfnson, the expert accountants ap-
S<.1ed for the purpose, and yesterday
50 led 20 far completed their task ~ 70
1 e - 10 report TO Alderman Daulton,
~eirman Of the finance COMMITTEES, shat
- Vas another amount unaccounted
- skortage Ii In what vas called the
B >1rnpsion fund. II has no legal exist
- bus vas created by the treasury ssv-
- ysars ago. II consists Of money paid
g s. property owners 20 redeem their
.vooerty from tar sales. When property
4 soid annually by the city treasurer for
Sliscueut city taxes the amount paid
by buyers II turned in and
- tar satisfied. The transaction
s fhsn compete % far a. the city II con.
nrssd. But there II years equity OF
n1empsion, within which time the de-
ilaosent can come in and pay the amount
S he treasurer, whose duty IL becomes TO
. essify the holder OF the tax certificate,
40 can then, upon surrender Of the GER
q 6eate, get his money back. This money
tadps subject 10 cali, WAS never psid into
~ city fund, but Was In the custody Of
~ treasurer.
Buyers Of tax certificates frequently left
lie city or failed to leave any address. and
ths money lay Idle. For several years
Shsss sums, varying from tri6ing amounts
. 30 and $50 each, have lain unclaimed.
ii October, Iso2, Deputy Treasurer Kno6
cpened book in which all such redemp-
ton sums were entered, and when the
holder OF the tsx certificate had his money
rsfunded he was required 70 sign the
hook. thereby keeping record Of dis
Easements and showing ct glaucs what
rfopsrty remained unredeemed.
The difference between the amounts
called for and those paid Was at the time
Efug's defalcation was discovered about
500. When the book was opened the old
eaysiops plan was discarded and the
money kept loose In box. from which IL
gss taken as called for upon the surrsn-
Ger Of certificates.
This balance has entirely disappeared,
tnt viii have to be replaced.
John ]. Knc6 was asked By . Posr-
I1TEILieKscxs reporter last night II he
had any explanation to offer. He said:
.S6mething over year ago started
ths work OF keeping book in which was
hspt the record OF tax certificates. and.
wien any amounts we're paid to holders
d tax certificates. had them sign OPP
pesite the entry as . receipt for moneys
raid them. did this more for the reason
hat sometimes others than the person In
whose name the certificate was made out
presented the certificate for payment.
soon nftcrward / found that l had
more work to attend to than 1 could do.
70 turned over to Krug both the book
md all moneys still on hand In that fund.
There amounts were kept In envelopes,
nd at the time turned them over they
lacked up correctly"
The holders Of tax certificates Who have
Ned to present them are the losers. but
As city 10 probably liable for the sums 90
opllsctcd.