Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1895-03-09
THE FUNDS WASTED
Csncsled interest Coupons. DuI,
Marked, Paid Twice.
HOW THE SNAP WAS WORKED
Treasurer nraae Refused q. farui.h thr
Moa.s uatii he wss go orsered
by the C.nneii.

Moscow. March 3.--slnce the return OF
ex-Treasurer Williams II has become an
open secret that the city has paid $1,000
OF interest coupons which had been only
cancelled and SO marked. Additional
coupons To the amount OF ti20 OF the
same issue are In a local bank for
collection.
when williams difficulties with the
city began after the closing OF the
Farmers bank. he stated to the coun-
ell that provision had been made for
the payment of the January coupons
70 the amount OF si.4so. and that this
sum should be placed to his credit In
his report. After c. NJ Brune. the pres
ent treasurer. had been appointed dep
uty, II was stated that several OF the
coupons, which had been reported paid,
were at the First National bank here
for collection. Mr.. Bruno declined 20
pay them. even when ordered by the
council TO do so. unless a warrant was
drawn expressly for the payment He
expressed his opinion at the time, and
was fortified In II by telegram from
Williams. then In Boise. that provision
had been made for them. The special
| warrant was drawn. however. MIR. Will
lams yesterday showed Councilman
| Matthews OF the finance committee that
| the warrants, when sent here for col
lection. were punched as a sign OF can
| collation.. and beside have the inscrip-
tion: Duly cancelled; w. J. Quinlan.
cashier" How they passed inspection
In such condition is difficult to explain,
although II is stated that the bank In
whose hands they were placed for coli
lection maintained that the hole In each
was caused by the pin on which they
had been placed.
HOW 1T WAS WORKED.
The explanation of this successful al
| tempt to secure double payment OF the
coupons seems. from interviews with
MIR. Williams and other parties familiar
with the matter. to be as follows: The
| Spokane and Eastern Trust Company
had made a large loan to the Farmers
bank. One of the conditions OF this
loan was that certain sum should be
kept on deposit with the company. sat
urday. December 20. 1894. Williams re-
quested the Spokane parties to wire
| si.440 from the sum on deposit to the
| Chemical National bank OF New York
| city for the payment OF the coupons
This was done. Monday afternoon. De-
cember 81. the Farmers bank was
closed. and the Spokane parties wish
ing to save all they could. wired the
New York bank not TO pay the coupons.
but transfer the money back to their
credit. In the interval. the bank had
evidently paid the coupons. which after
ward made their appearance here. and
then sent them ON for collection. trust
ing that they might In some way re-
cover something on them. They must
have succeeded beyond their widest
dreams. for. as a prominent banker
here assured the Spokesman-R Review
correspondent. no one familiar with
coupons would fail to recognize the fact
of their cancellation at once
The matter Is sure to come up at the
regular monthly meeting OF the coun.
ell tomorrow night. and a merry time
will doubtless follow, especially when
Treasurer Bruno presents the matter
Of the additional sl20 stiil awaiting col.
lection.