Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1895-03-15
THE FUNDS WASTED
Cancelled interest Coupons, Duly
Marked, Paid Twice.
HOW THE SNAP WAS WORKED
Treasurer Bruno Refused to Furnish the
Money Untii He Was SO Ordered
by the CUunct.

Moscow, March 3.-Since the return of
ex-Treasurer Williams it 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 $120 of the
same issue are in local bank for
collection.
When Williams difficulties with the
city began after the closing Of the
Farmers bank, he stated to the coun-
Gil that provision had been made for
the payment of the January coupons
to the amount of $1,440. and that this
sum should be placed to his credit In
his report. After c. M. Bruno, the pres
ent treasurer, had been appointed dep
uty 1t was stated that several of the
coupons. which had been reported paid,
were at the First National bank here
for collection. Mr.. Bruno declined to
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 it by telegram from
| Williams. then in Boise, that provision
had been made for them. The special
warrant was drawn, however. Mr.. Will
| ldInS yesterday SHOWGQ
Matthews of the finance committee that
| the warrants, when sent here for col
lection, were punched as sign of can
collation., and beside have the inscrip-
ton: duly cancelled; w. ]. Quinlan,
cashier" How they passed inspection
in such condition is difficult to explain,
although it is stated that the bank in
whose hands they were placed for col
| nj int inc NOT ha hnI in oh
was caused by the pin on which they
had been placed.
HOW 1T WAS WORKED.
The explanation of this successful at
tempt to secure double payment of the
coupons seems, from interviews with
Mr.. 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
ST. 40 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
ceInDef 81, tne Farmers Dank 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 theil
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 mus
have succeeded beyond their wildes
dreams, for, as a prominent bankel
here assured the Spokesman Review
correspondent. no one familiar witt
coupons would fail to recognize the fac
of their cancellation at once.
The matter is sure to come up at tn,
regular monthly meeting of the coun
ell tomorrow night, and a merry tim,
will doubtless follow, especially whef
Treasurer Bruno presents the matte
of the additional $l20 still awaiting col
| lection.