El Paso daily herald. (El Paso, Tex.) 1881-1901, 1898-04-11
Those Lost ReuOrtS.


MR.. EDITOR:-Tbe Times, some tim e
past, stated that Mr.. Fasse't was not
liable for the money received by him
from the city, and deposite1 in the Ell
Psso National bank, beyond the
smount of dividends ne received from
the receive. 1t makes frequent men
ton of case from Fort Worth, but
prudently avoids giving the style and
volume in which said case is to be
torneys fails to discover any such case
in this state.
Our court of civil appeals has used
the following linguags: "Official
bonds are construed in this state re-
curing the custodians OF public
moneys to safely Ike" p and administer
them: this duty is ABSOLUTE and the
FUNDS are WHOLLY at The RISK OF OF
FICERS to whose keeping they are COM
mi,ted. Boggs VS.. State. 46 Tex. 10:
Wilson vs.. Wichita Co., 81 Tex: Nc.
Kinney VS.. Robinson, "a Tex. 4o9: 2
Sutb Dam. 479-4S2.''
In Boegs VS.. state the court says:
"He is bound to account aud nay over
tt e amour: be collects less his com
missions, CT his sur les must do it for
him.
In Nick nney vs. Robinson, The court
held tha., THE fai ure of the bank
and the consequent loss of the FUNDS
was no pro: ec'iOn TO the tre asurer al
though the county commissioner IS
court bad ORD cred him to put the money
in the bank"
In Boyden VS.. United States, 18th
Walls ce, page II, the supre me- court
of the United States says: Where a
receiver of public money has given
bond for the faithful performance OF
his duties, as required by law, proof
that he has been robbed of the money
is no defense, nor is any cause which
possible defense, or OF any import
a1ce because be has assumed the risk
of it," Act of Gods or public enemy,
of course is excepted.
Mr. Fassett is not only legally bound,
but morally and equitably, and there
is no hardship in requiring him and
his securities to pay it.
By the terms Of the city charter he
received said money under an Oblig-
alton to securely keep the same and
pay the same out in warrants drawn
thereon by III, city. This he did not
do. What he did was to loan the
money to the Ell Paso National bank
flor such is the effect in law of a ger
eral deposit, such as he made.) The
read W II IN -erStand that there are
two c!asse of ba1k deposit-a sp cial
opOS!O duu SSbCi dt oCPO-i LII I"
specia deposit the VERY THING de-
posted must be k pit and returnt to
the depositor, whether it be money,
Jewels or other t. ings L. is precisely
the same as the obligation of a ware
houseman or the keeper of livery
stable to return the thing left with
him. If Mr.. Fassett bad made such u
deposit, then when the bank failed, no
ere di or of that bank won have had
any int rest in the money deposited
but it seems for his own convenience,
o. easure or profit he made GENERAL
deposit , and thereby the money de-
posted become the property of the
of the bank, and it simply agreed,
in cons Iteration of the use Of that money,
to pay the same back to Mr.. Fassett on
his checks from time 10 time. But
such deposit he Gre ated rs b tween
himself and the bank the relation cl
when the bank failed he, being
creditor, could only get his pro rata
of the deposit. By his own unauthoriz-
ed act he subjected the money to the
hazards of banking, but clesrly he had
no authority in law 10 make any other
use or disposition of the moneys en-
trusted to him than to keep the same
and paythem out on the warrants of the
city. He had no more right to loan
the money of the city than be had tC
borrow it, himself. Tbe city got nc
benefit from the use of the money. bat
on the contrary it paid him to keep il
Whatever profit was made by he
transaction between Mr. Fsssett ard
TIE hank, Injured to } is own benefit
fer hi own benefit and now thai he
has chose and in violation Of the
terms of his bond and the obliga' ion:
imposed on him by his trust, to de
post money in the manner he did
there is no pretense of justice that the
the city should bear the loss. The Law
for four good reasons, makes the keepel
of public money absolutely liable
the refore:
1s..-If he could pay in excuses they
would rarely be wanting when the mo
ney is lost, and could often be success