Omaha daily bee., 1895-12-06
CITY COUNCIL PROCEEDINGS
Bond of City Treasurer Edwards
Finally Approved.
THIRTEEN VOTES IN THE MAJORITY
Howell nnd Bnrkicy Opposed. Two
Members Absent and Edwards
ENcuscd-Rcport of the FL
nance Committee.

The bond Of A. G. Edwards, city treasurer
elect furnished by the Fidelity and Deposit
company Of Maryland. in the sum of Si0O,O 900.
was approved by the city council last night.
all of the members voting for it except Burk-
ley and Howell, who voted against it, and
Calm and Jaynes, who were absent
Mr.. Bechel was called to the chair for the
meeting. and the finance committee presented
the following report:
Your committee, to which was referred
the bond of Albert. g. Edwards, city treas
pe sSnea % s ss Fdfy baG Hna eSve
report that 1t has given the matter careful
The last legislature passed law authoriz-
ing security companies to bond public officials
in the state of Nebraska. 1t has become al
most an axiom with banks not TO accept
for the specially recognized reason that the
bank would, by such acceptance, be under
obligations to the suretes. The same OBJ
With public bic officials rPd charged with the Gus,
such bond which is comparatively new in
Nebraska, has the commendable elements
of all sucs and It TH makes Il po
sible to better serve the interests of the peo-
pie. Such bond is at best Insurance against
class % Of p People S should insure their "S negh ge
bors against loss, where one man is just as
much much interested @ as the other, particularly,
whose officers will see that the shortages
ana defaications do not occur, or If they do,
they will be quickly detected and made
good.
Your committee confesses that its MEM
slow to accept new ones, but 1t must admit
that upon careful investigation 1t finds
many many good reasons why surety company
In reference to the bond submitted by A.
g. Edwards, city treasurer-elect, we beg to
First, the city attorney drew the bond,
and his letter Is herewith submitted, stating
that said bond is executed according to
Second, your, committee would have
strongly advised the division of the bond
a proposition is not before us, and we upder-
stand the charters, of some of these compa-
CURED, and in addition, the legal department
declines to accept their form of bond.
bond of tn y and 1epos
pany of Maryland. duly executed and ap-
proved by the city attorney, as to all legal
sources and careful investigation your COM
mittee feels justified in recommending the
city council is authorized to ,cail for addi-
tional bond at any time, should 1t be neces-
sary We took up the consideration of this
accepting this bond, but our Investigations
have led us to the conclusion that the bond
fully protects the city, and should be APP
4 concurrent resolution is herewith SUBJ
Tnltteu, carrying into erect the recon-
of this report:
Resolved. BY the city council. the mayor
that the bond of Albert G. Ed
wards, city treasurer-elect. in the sum of
100000. executed by the. Fidelity and De-
post company OF Maryland, by its presi-
dent, EdWin Wa, Wartield and it's secretary,
b. and the same is hereby approved.
On the adoption of the resolution Burlkley
and Howell voted in the negative. Mr. Ed
wards was excused from voting. and the
other thirteen members present voted for the
~ s.-
On the approval of the bond the same vote
prevailed. Mr.. Howell explained that he had |
asked the committee to explain or answer
certain questions he asked concerning tho |
legal phase of the matter, and the COMMITTEES
had failed to do so. He could not vote for |
he bond until he had his questions = 22red |
Mr.. Kennard and Mr.. Saunders lined !
hat they had opposed the bond in IA first |
place, but had convinced themselves by in
1estigaton that the bond was all right, and |
70 voted to approve it.
After the approval Of the bond the council |
adjourned until next Tuesday night.