The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-10-28

was" said Mr.. Young. as he shifted one
foot and turned in his chair. Il took
no part in the campaign"
Some of the states funds were tied
up in the Union Savings Bank and
Trust Company. of Tacoma, when it
failed about year and half ago.
were they not?"
Eyes, some: a little" Mr.. Young an
swered, jerkily.
How much?" / asked.
well, it is not necessary to state
just a little" he replied.
els that sum carried in your state
ments as cash?"
"Yes"
well. should it be? Is it available
cash? Can you get it?
81 cant get it just at this time. /
expect to get it when the business Is
wound up. 1t is being carried as cash
until know we cannot get it." Mr..
Young then caught line on himself
and continued: "The state doesn't lose
anything by it being there at present.
You understand there is quite a lot Of
money in the several funds that is not
used. money that lies idle. AS long as
this is the case the state is not losing
anything and will not until all this idle
money is demanded. There is always
idle money in such as the school and
revolving funds. We will call just as
many warrants and pay just as much
interest as though that money was not
there"
How can you credit this lost money
TO the school or revolving fund.-"
1T isn't just that; we don't credit
it to those funds
why has no effort been made to re-
cover this money!" | asked. believing
Mr. Young could not extricate himself
and desiring To be merciful.
"Oh, suit has been started against my
bondsmen-Chester Thorne and others
to recover from them"
Under Judge Hanford's decision
could that not have been set aside as a
trust fund.-"
II don't know have never been
advised on that by the attorney gen.
eral"
Why did you deposit in the Union
Savings bank instead Of the National
Bank Of Commerce. Of which Mr..
Thorne is president. and which I I'M
derstand is very strong institution"
The Union Savings bank was con-
sidered strong by parties claiming to
know. | had parties examine it, and
they said it was all right
Who were these parties?"
''Oh. / wouldn't care to say anything
about that"
When was the suit against Thorne
ct ri. commenced?"
Il don't know exactly when" Mr..
Young said. Then he hesitated and
continued: Il don't really know that
the suit has been filed yet, but de-
mand has been made and the founda-
ton laid for a suit"
The failure was in June, 1897. Why
has this suit been delayed"
We'll, We expected to get returns
from the bank. The decision In the
warrant cases delayed us. too"
But that was settled many months
ago. was it not?"
Yes. ii was and it was not"
LAS long as your ability TO recover
was in doubt, what prevented you
bringing suit?'
Well, We could have brought suit.
We asked them 10 put the money I'D.
but they were not disposed TO do It I'M
til they got it out OF the bank"
rs Thorne still on your Official
bond?"
Yes"
Would that have anything to do
with pushing the case?"
NO; Mr.. Thorne could go OF any
time he desired TO do So"
is there any money On deposit in
Thornes bank now"
No. sir"
The amount lost in the Union Saw.
ings bank was 800 600. vas II not?"
Well, don't care 10 say"
Why"
oh, don't know: il Is not neces-
saTF,' Mr.. Young replied, After ten
minutes further talk on political SUBJ
1ects, however. Mr.. Young referred To
THIS matter again, and said: I've been
thinking about that Tacoma bank mat
ter and | guess there is no harm In tell
ing you you are right: it is just SEC. 900.
/ guess you know all about il. ANYHOW"
Discussing the question Of banks
handling state money. Mr.. Young said:
\ ma It Is impossible for the state To