Omaha daily bee., 1896-12-11
NlESERVE'S OFFICIAL BOND
State Treasuror-ll,Ct in Something of a
Pickle for Security.
GUARANTY COMPANY SCHEME FAILS
Efforts to secure surctics Among tho
state Depository BANKS DO
Not Meet Immcdi-
ntc Success.

ntc Success.
| LINCOLN, Neb, Dec. O-(Spccal)--IIon
j. h. Meserve state trclsurer-clcct is hav-
| ing plenty of trouble these days. He has
| been putting in his time for several weeks.
pa9t trying to secure the bond necessary be-
fore he can qualify as successor to State
| Treasurer BARLEY.
When Mr. Meserve was nominated by tho
| popuItst state convention II was asserted no
would have no trouble whatever in securing
the $2,OOO,0 900 bond which the law demanded
as prerequisite before he can take possess
sion Of the state treasury. 1t was said that
he would secure a bond like the one secured
several years ago by the populst state treas-
urer Of Kansas, who obtained the signatures
of 1000 farmers, each qualifying for COM
paratively small amount.
AS soon as Mr.. Meserve was elected. how
ever. he gave up the impracticable idea of
obtaining farmer bond with 900 signatures
and began to dicker with the officers of diff
ferent depository banks who had been de-
pended upon by previous state treasurers to.
assist them on similar occasions. Mr.. Me-
serve. who has been treasurer of the Red
Willow county and Is one Of the directors of
the First National bank of McCook In that
county certain that his etanding 4
banker would enable him to secure the proper
endorsements
The original plan upon which he started
was to secure a guaranty company bond under
the new law, which was intended to enable all
public officers to give guaranty bonds in
place of personal bonds as heretofore. Ncgo-
tiations were begun with several Omaha
banks by which Mr. Meserve was TO agree
to deposit the state money in ligt of APP
proved banks consisting of seven Omaha Na-
tional banks the First National bank Of Me-
Cook and two or three other banks located
at different points throughout the state, and
these banks were to pay the premium of tho
bond in a ratio corresponding to the deposits
which they would receive.
WOULD HARDLY BE LEGAL.
These negotiations had gone on for
considerable time, when it transpired on con-
suta;ion with Mr.. c. j. Smyth. attorney
general elect, that in the opinion of the new
attorney general 1t would not be legal for
the state treasurer to offer such n bond Mr..
Smyth expressed the opinion that while
guaranty bond might be drawn in manner
that would efTectually protect the interests
OF the state the letter of the law would rem
der such a bond of questionable legality.
He advised Mr.. Meserve that If he should
give a guaranty bond and State Treasurer
BARLEY should refuse to recognize it, he
would have difficulty in obtaining possession
of the Office Cor sidering the circumstances.
therefore, he advised him not to attempt to
enter office by that route.
This averuo having been suddenly closed
Mr.. Meserve was forced to return to the
plan of personal bond and to secure the
assistance of the Omaha bankers for that
purpose. 1t is known that he has not secured
the signatures needed, although 1t Is stated
on good authority that he has made some
progress. A member of the next state SEN
ate, who is familiar with Mr.. Meserve's
troubles, said today, that the new treasurer
had half the required bond already and that
he had two signatures upon the paper OF
men who had uualiHp1 In thp n
900 apiece. But these signatures have not
been secured without promises, regards
the conduct of the office and the deposits
of public funds. and also of the early re-
lease of the bond.
According to the last program Mr.. Me-
serve is to qualify on bond procured
through the different depository banks with
the distinct understanding that 1t ls to be
cancelled within two weeks after the new
officers take their seats and replaced by
guaranty bond. This proceeding is to be
legalized by the enactment of law imme-
diately upon the converting Of the legislature.
which Will enable the treasurer to give a
guaranty bend instead of a personal bond
Whether this new bond is to be paid for by
on the banks according to originaf
plans has not yet been made public There ia
even some doubt whether the whole scheme
can be carried through. and it certainly
cannot be carried through without having
the new treasurer tied hand and foot to the
banks who furnish the bond Two years ago
ectng every bond filed with him to the
lest OF the mercantile agencies and refusing
10 approve any bond which did not seem
20 anord adequate security. If he follows
cut this process with the new populist state
lficers there may be some delay, before
hey will be able to take possession.
LAW DECLARED INVALID.
Something in the nature of bomb was
lhrown into the whole official bond matter
yesterday when Attorney General Churchill.
n response to a request from Governor Hol-
'omb filed written opinion in which he
lolds that the law passed by tGe last legis-
ature, making 1t possible for public officers
o give guaranty bonds In place of personal
bonds IS unconstitutional and therefore null
md void. While the text of this oDinion
s still securely guarded in the governors
'fiice, 1t Is known that the attorney general
'ased his conclusion on the fact that the
aw In question fails to specify tho different
'cts which 1t amends. Tae guaranty bond
aW provides that guaranty bond may be
'abstltuted wherever personal bonds have
'een required, not only by public officers but
llso In appeal cases and as rocOgnizance
or criminals subject to bail. These proyi-
lions are scattered throughout our whole
riminal and civil codes while the law does
lot specify any OF the acts to to amended.
Sttorney General Churchill asserts that no
tate treasurer can legally qualify upon
company bond and that all guar
nty bonds given under the law are Of no
Httt' II lS Sdld, bOWCNCr, thut neither
ar. Churchill or Mr. Slnyth see any diff
ulty In the way of framing Il law which
'ould cover the case, but tho legislature
must act before a guaranty bond can be
ccepted for the state treasurer.
Mr.. Meseryc has about three weeks more
n which to complete his bond and he Is
aid to be confident OF accomplishing the
ask by that time, Should he fail; the addl-
lonal complication win arise whether
allure to qualify in time viii continue the
resent state treasurer IN office until the
ext general election yeas hence, or
'hether the new treasurer can qualify to
AXE possession at any time after hi9 term
{ office begins. Lawyers who have looked
lto the matter say that there Is a point
ere on which there Is no decision OF our
ourts and that should the contingency
fer, interesting developments may be looked
)r
WANT TARIFF on WOOL AND sHODDY