The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-08-09

All arrangements concerning tine sale
! of the $350,OO0 in county bonds to the
firm of Farson, Leach & Co., were yes
terday perfected and this evening the
certified copies of the record, the form
of contract and bond Will be depos-
tied in the mails in an envelope adj
dressed to the house at Chicago, ILL.,
Commissioner Christopflerson was
tardy in arriving ait the meeting, and
as result the business which was
have begun at o'clock was delayed for
am hour. although Clerk Reese Utilized
the time in reading up a lot of the
minutes of previous meetings, which,
up to this time, had not been APPROX
ed
County Attorney Whittemore and Mr..
Junfus +. Wells were on hand early and
it was with some Impotence t1-at the
arrival of the late commissioner was
awaited
But all things come to those who
wait, and dna4gy Chris arrived upon
the scene and then the county attorney
submitted The form OF bond.
Each becomes due and payable on
the first day Of August, 1916 although
the county may eau them IN ami pay
them OF on the same date in the year
1906 All transfers must be ceruined
to by tEe treasurer of tine county. CIV
ing the number of the bond and the
postoftice address of the owner and ev-
cry transfer shall be made matter OF
record BY the provisions OF the BONA
any or all may be taken UP AT any
time from and after the date alluded TO,
in the order of issuance in series OF
five or more, and after being notified
that his bond has been called IN Should
iaNf elu~cl
cease within forty days. All noclces
shall be sent by mail
This form of bond was acceptable
to all the commissioners, and MI. w e4lS,
had no fault TO find, so 1t was adopted,
and a. resolution passed authorizing the
chairman of the board and the clerk
to sign the same 1t was decided thaI
fac SMILES OF the Signatures should De
obtained and engraved on the coupons,
otherwise the two officials mentioned
would do nrching for month out
write their signatures.
1t win be remembered That ait une
last needing of tine commissioners Wn'-n
the offer of the firm was accepted,
there was only a quorum present, Nj
Roberts being over alt Bingham IL
was decided that the request OF the
firm that the vote be a unanimous one,
be granted, and a roll call was had at
wGlIch all voted in the affirmative. In
other words, tine action of the quorum
was confirmed by a full board.
Matters were going along swimming
" when Treasurer Lynn came in, at
the time the contract with the firm
was being read. Among other things
contained in the contract, was the stlp-
uIation tflal. the bonds should be for
wa rItad to the National Bank of Hi
nots-
Right then and there Lynn made
protest. He declared he was the treas
urer of the county, and as such was La
BILE on his bond for the safe keeping
of the securities. AS soon as the bonds
were signed they were negotiable, and
tEnere would be $500, 900 Of them in ttaat
bank where any one so disposed could
take them and negotiate their sale He
did not know the bank in question and
was NOT aware of its having a CORE
spondent in this city. He wanted the
contract changed SO as to cons gn the
bonds to the First National Bank OF
Chicago.
Mr.. Geddes assured him that Wells,
Fargo & Co. of this city were the cor
respondents of the bank in question,
and Mr. Wells rushed to tine telephone
to return with the intelligence that the
institution was a big one and had
money to throw at the birds.
But the treasurer was obdurate and
would listen to nothing of the sort until
finally the commissioners passed a res
olutdon, virtually ordering him to
place the bonds in the custody of the
National Bank of Illinois, thus relieving
him, under tine law of the response
bility and he was satisfied.
This completes ali the prelfminaries.
The American Bank Note company of
New York city wild engrave and print
the documents and The United States
Mortgage & Trust company will see
to it that the proof reading is accur-
ately done. The bonds will be read five
times, so there will be no danger of
AN error. The engraving and proof
reading will cost the county $3.50. 1t is
expected that the issue of $50, 900 will
be here and ready to send to Farson,
Leach & Co. by September 10.
The commissioners will meet again
Monday, ait which time they wilI con-
slider the matter of election booths.
Samples of booths were on exhibition
at the Office yesterday and more are
expected 20 arrive tomorrow
The elevator contractor called at the
Office yesterday afternoon and asked
if any more tests of the machine were
required, but got no official answer and
Wild appear again on the day alluded
SlCrNIFIClA NCT1 OET THE HANADyAN