The herald., 1893-10-26
COUNTY TREASJyJRF'EE|R''ss TREASJyJF'E|'s BOND.
None of the Clearing House
Banks Represented.
The Proceedings in the Matter in
Court Yesterday.
Action OF the supervisors-The Names
OF the New 5nreties-None OF the
Bondsmen Examined = Cos
sip About the Money.

Inc new Dond required oil county
Treasurer I. j. Fleming by the board OF
supervisors was filed yesterday, having
received the signatures OF the six su-
peror judges OF this county.
1t was taken before the board by Mr..
Waldo M. York, representing the treas
urer, and at his request the board passed
the following resolution:
Resolved, By the board OF supervisors
Of Los Angeles county. that the bond
now rendered by Thos. ]. Fleming as
county treasurer, approved by the
judges OF the superior court on Oct tober
20. 1893, in lieu OF the bond given by
him heretofore be filed, and that the
same be taken and considered as the
said treasurer's bond, exclusive Of said
first bond from this date.
THE NEW BOND.
The sureties upon the new bond are
as follows: Hervey Lindley, O,O00;
George W. Hughes, $l5 000; Sam Lewis,
100000; w. J. Washburn, $4,000; R.
F. House, $4,000; ]. M. Wilmer,
s25.0O0; George X. Porter, $4,000;
jesse Yarnell, 1000; Elijah Moulton.
$4,000; j. w. Wood, $4,000; M. e.
Wood. $4,000; G. G. Brown, $4,000; w. s.
McAllister, $4,000; J.. Frankentield.
10000; R. F. Lotspeich, $40, 600; Z.
w. Jones, $4,000; II. J. Woollacott,
,Liewellyn, $4,000: D. w. Field,
$40, 900; simon Maisr, $40, 1000; secundo
Guasti, $4,000; A. F. Msckay, $40 1000; +;
J.. R. Toberman, $4,000. Total,
| $500, 900. saei
A RADICAL CHANGE.
One remarkable circumstance about
the new bond is the story it tells.
The clearing house banks no longer
have any part and parcel in it.
1t shows that the banks of the city,
that is. the clearing house banks, will
no longer accept the special deposit of
county funds upon the conditions which
the law imposes to keep the money
strictly as a special deposit and not use
it in their business.
In the new bond the treasurer practic-
ally cuts loose from the old order OF
things, as there are none of the four
banks interested in the former bond
who are represented upon the new one.
There are some sureties on the new
bond interested in the California bank,
and what effect that will have upon
where the treasurer will do business is
matter of conjecture. But glance al
the names shows that it is practically
composed of entirely different names
from the first bond.
When it was exclueively stated by the
HERALD several days ago that the coun-
ty treasurer would give q new bond, it
| utoo all ~ hot nf 70
on the bond were considered INSULT
cient.
Yesterday, in attempting to let these
gentlemen down easy, Treasurer Fiem-
ing was reported in an evening paper as
denying the accuracy OF the statement
made by the HERALD.
The board of supervisors can easily
show MIR. Fleming q document which
they have in their possession, a report
by the district attorney, in which the
names OF eight Of hio former suretiee are
given, and upon which the supervisors
suggested to Mr.. Fleming that new
bond would be the proper thing.
THE sURETfEs NOT EXAMINED.
The approval of the new bond by the
judges of the superior court was done In
very quiet manner. No Information
was given about it to newspaper re-
porters, although they signed it October
goth OF last week.
The Herald did ascertain that some
OF the signatures had been obtained and
it wac co stated the next morning.
1t was ascertained yesterday that the
new eureties were not personally ex-
amined by any of the judges who ap-
proved the new bond, any more than
they were upon the former bond, al
though the law says that such sureties
''shalp' be personally examined on oath
by the judges before they approve the
bond.
Judge Shaw was eeen in his chambers
and said that he had not examined any
of the new sureties. He said that while
the law was as stated, still not to exam
inc the sureties would not invalidate
the bond II had been the custom fol-
lowed in the case. of ali official bonde
sin 30 the present administration came
in, although County CLERK Ward was
| instrncted by the judges some time ago
to notify all pcrsons hereafter to bring
their sureties with them when they had
to give an official bond.
THE COUNTY MONEY.
County Treasurer Fleming was found
late in the afternoon in bis office, much
relieved by the formal filing Of his new
bond, and said that the new bond
marked radical change in the handling
of the county money. He could not
tell yet just what the result would be.
He did not contemplate removal of
the county funds now in the banks i'm
medistely, but supposed it would finally
result in all the county cash being
locked in the treasury vault.
MI. Fleming seemed very happy that
he should have experienced so little
difficulty in giving. such large bond 80
speedily and without the assistance of
the clearing house banks.
gentleman we'll posted on county
matters said in the afternoon that the
policy which is indicated by the new
bond is that the county money will be
Withdrawn from the banks, which de-
cline any longer to handle it unless they
can use it. This will mean the with
drawal from circulation Of about $780,
600 all the time, and at some seasons OF
the year much larger sum. Still, he
said, the banks have been 60 afraid to
use the money for several months that
it has been practically withdrawn from
circulation, and it will not come sud-
denly when it is formally withdrawn by
the treasurer and locked up in the court