The weekly tribune. [volume] (Great Falls, Mont.) 1891-1894, 1893-09-22
SCHOOL BOARD MEETING.
Recovery of the Bonds Discussed-Pren-
tiss Tenders His Resignation-High
school Bids Laid on the Table.

tiss Tenders His Resignation-High
School Bids Laid on the Table.
The board of school directors met in
regular session last night, Mrs. A. G.
Ladd and Messrs. Hanks, Prentiss, At
kinson, Kellison, and Gockstetter being
present. The meeting opened with
some discussion in regard to certain re-
pairs on the north side school and in re-
lation to repairing the cupola on the
south side school, but no action was
taken on either proposition.
On motion of Prentiss, it was ordered
that the warrant to be given to Larer IL
~Companysfor repair work be drawn on
the general and not on the building
fund.
The question of considering the bids
for the construction of the high school
building anne up but on motion of
Atkinson it was laid on the table.
A motion was passed that the Town
site company be requested to give the
board a bond for a deed to the north
side property on which the highschool
is TO be built. This is to be in exchange
for southside property belonging to the
board.
Mrs. Ladd asked the clerk whether
he had received any communication
from Chicago in regard to the return of
the high school bonds. lie replied that
he had not. On request OF the board he
rDo,l a. ,rnNr - H., l,tt,r 1l,,t 10 Tl;,n,,n
in regard to the matter. 1t was dated
September g., and consisted of the reso-
luton passed by the board calling upon
the holders of the bonds to return the
same at once. One or two members eX-
pressed the opinion that legal steps
should be taken TO recover them. In
reply to that suggestion, Hanks said
there was no means by which the Chi
cago bank could possibly hold the
bonds in the face of a demand from the
board and that so far as he knew they
were not hypothecated regardless Of all
'rumors' to the contrary. lie presented
the two drafts on Hays ~ Go. which
were pinned to the bonds and sent with
the latter TO the American National
bank of Chicago for collection, but had
been returned unpaid. He also called
on G. d. Wilt, cashier of the suspended
Merchants National bank as to whether
the bonds could be held for any amount
that that concern may the Chicago
bank. Mr.. Wilt said there was no pos
sible way they could be legally held.
He considered it a bluff if such action
had been attempted. The Merchants
bank owed the Chicago bank about
$500 overdraft and also in the neigh
borhood Of $4,000 which was amply Sc
cured by good collateral. If the bonds
were retained as security it was because
of the overdraft and not of the other
claim which was well secured. The
bank was probably trying to secure it.
self for the overdraft as most any bank
would be liable to do under the circum-
stances. but when it came to a show
down it would not work. 1t was the
Chicago way of doing business.
Henry Prentiss then called the at
~tention Of the board to the necessity of
having a lawyer on the board. He had
given the matter consideration and he
had made up his mind to tender his
resignation which he trusted would be
accepted.
+. p. Atkinson, who had taken the
chair at Mr.. Hanks request. held that
the resignation should be presented in
writing. 1t will accordingly be con-
at the next meeting.
A communication from Rev. Mr.. Was
son asking for the use of the North and
West Great Falls schoolhouses for Sun
day school purposes was laid Oh the
table. After discussing some routine
business the board adjourned.