The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-07
SAYS 1T is UNJUST.
Treasurer Horst Replies Ito the
Investigators.

City Treasurer Horst has an idea that
the report of the special council COM
mittee appointed to investigate his ac-
lions in depositing city funds in the
Allemannia bank, did him an injustice.
In order that he might be given a
chance to explain to the public what
he meant when he said he had not been
treated fairly by the committee, the
Globe publishes the following state
ment which was prepared by Mr.. Horst
yesterday:
] think in the main the committee wanted
the report signed by them to be fair state
ment of he facs. But in common fairness,
if they thought 1t necessary to comment
on the total deposits for few days in the
Allemannia bank when l took Office in June,
1896, they should also have stated the facts.
First, that the funds in the treasurer's hands
exceeded the amount provided for by the
council in accepted bonds to the amount of
$529, O0O and that that sum had to be de-
posted somewhere under the provisions of
one time $50 900 out of this bank and that
when the funds were low the balance in that
bank did not exceed $5S, 600.
The committee seems to lay great weight
to the fact that when 1 wrote my statement
1 looked UP date Of bond and date of ap-
prevail by council, and use it as an argument
that because 1 am able now to figure out
the time l must have known of the facts
at that time; The same logic is used in COM
ing to the conclusion ON the resolution ques-
ton.
AS to nv reference to the charter, / would
like to whisper a state secret to the commit
tee in strictest confidence. 1t is this: zig
norance Of law Is no excuse for It's viola
tion.'' The reference to the charter was made
because it justified the action of the treas
urer in the premises. ~ ~. -e-
Now as to the actual report Of the COM
mittee of what they found in the treasurer's
office on the subject to be Investigated.
First-If the report had quoted the heavy
drafts on the bank and low balances, as well
as picking out the high ones, it would have
left the balance as to favoritism shown and
hardship worked las / x III. The amounts
deposited over and above the limit l have
already explained are necessary, on account
deposited under the bonds, and at no time
was the limit exceeded when the funds on
hand came within the limit.
In regard to the deposits quoted by the
committee: --.-..-..
The subcommittee found that on June IL,
1896, the county treasurer paid over to the
city for school purposes check on the Allie
MAMMA bank for $50, 000 which was deposited
in the Alemannia bank, and that the with
drawals during that day and ten days follow
ing amounted to- $133, 1889, one check being
for the amount of SAC, 5S7.75, reducing the ball
ance in this short space of time to $685.
1929 49, On June % the county treasurer again
gave the city treasurer check on the Ale
MAMMA bank for SIS, 500 which was deposit
ed in the Allemannia bank as per custom and
on the same day the city drew on the Allie
MAMMA bank for the full amount of interest
becoming duo q IicK Tor 5S,5UO In favor
of the Bank of - nesota, at that time the
designated transr@ tiers of funds to the city's
financial agent In New York.
The committee reports the deposits from
Nov l. 1896, to time of failure of bank as
being the periods of time in which the reso-
luton was passed. The fact of the matter
is the resolution was published Nov. g. 1896.
They may have thought the difference in time
and amount was not material, but where large
transactions occur like in the treasurer's Of
flee. SC. 600 600 receipts and the same amount
of disbursements per annum few days means
great deal.
IF the Allemannia bank had Kept it's doors
open for nine days longer the pay roll Of the