The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-04-01

At last the commissioners have sue
ceeded in getting the county on q cash
basis. Holders of warrants issued since
the present administration came into
power can now go to Mccormick & CO. s
bank and receive the cash without any
discount
This announcement was made at a
very important meeting of the board
yesterday afternoon and was the result
of a private arrangement between the
members and the bank.
BOND ISSUE NECESSARY.
Another important step was taken.
The commissioners decided to issue
100000 in bonds. It appears from the
books of the treasurer that there are
$12T, 20 in warrants issued prior to
statehood still outstanding. This
amount includes the furniture and
other contested warrants, which aggre-
gate $54. Geo With the accumulated
interest-all these warrants drawing 3
per cent interest-the outstanding IN
debtedness in warrants of this class
viii reach S150000. Why the old board
did not provide for the floating of all
these warrants when they ola issue
bonds is one of the mysteries Whlcn
have been left as legacjr for the pres
ent board to solve. As previously
stated, all these warrants are drawing
per cent interest. Bonds can be sold
which will not bear more than D per
cent interest and the county would
have saved thousands of dollars had
the old board done its duty.
While the warrants issued prior TO
a
innate $50 600, including interest, the
board did not deem it advisable to sell
more than 100000 in bonds at present
If it shall be decided by the courts that
the furniture warrants must be PAID,
additional bonds to take up the entire
Indebtedness will be issued.
Treasurer Lynch was instructed TO
make a computation of the warrants
outstanding and the interest due there
on up to May 1, 1897, by which time the
board hope to have been able to dis
pose of the bonds. County Attorney
Van Cott was called upon to submit a
form of bond and make other sug-
gestions pertaining to the issue.
CASH YOUR WARRANTS.
It was after an executive session
lasting nearly one hour that the mem
bers emerged and Hall made the state
Inent that an arrangement had been
made by Mccormick & Co. whereby the
latter would take all the warrants is
sued during the present year. There
is nothing in the treasury to be applied
on 1897 warrants and there VIII not De
much cash until taxes begin to come
in. In the meantime McCornick's bank
will carry all warrants, receiving there
for the interest they bears per cent
But there will be no discount from the
face of the warrants, so that the coun-
" will be able to buy material at
greatly reduced cost when under the
old system it was compelled to pay
from 10 to % per cent extra on material
bought.
CASH ON HAND.
The treasurer has something like $780,
600 in cash on hand, but this is reve-
nue. on account of the year 1896 and
is held to await the courts decision
in the county debt limit case, it not
having been determined which war
rants, if any, are invalid and should
not be paid.
THE IRRIGATION LITIGATION.
Deputy County Attorney Graham F.
Putnam submitted an opinion relative
to the litigation between the North
Point Irrigation company and the
county, recommending the county bear
one-fifth of the expense of the suit in
Cured in 1897, the total amount of
which is $1,274.S4. making the county's
portion $254.S4. The report was received
and the recommendations adopted.
The original amount which the coun
ty was asked to bear was something
over $4,000, but the county attorney
says some OF these costs were incurred
in 1896 and should therefore be charge
able against that years accounts, and
the members of the board readily coin
cided with this opinion.
MILITIA CENSUS.
Assessor Quinn sent in a letter stat
ing that owing to the double duty to
be performed by the deputy assessors
in taking the militia census, he finds
it will be impossible for him to get the
assessment roll out in time with the
number of deputies now employed. He
therefore asked that he be allowed
three additional men for work in the
southern part of the county and asked
that the following be confirmed: John
p McOmie, Murray; Louis Peterson,
Bluffdale; J. c. Swan, Bingham.
Hall said he had investigated the
matter and felt inclined to grant the
the other members, and so the ap-
pointments were confirmed
JENNINGS APPOINTED.
The appointment of Walter P. Jen-
nings as chief deputy assessor, vice |
Angus NJ. Cannon jr. resigned, was
taken up and confirmed.
COUNTY PRINTING.
The contract with Kelly & Co. for |
doing the countys printing and fur
nishing other supplies during the pres
ent year was taken up and officially !
ratified. The bond is in the sum of |
81, 900 with Z. II. Callister and A. H. !
Pembroke.