Omaha daily bee., 1899-06-19
VACANCY IN STATE TREASURY
Great Vacuum Yawns to Be Filled in
Nebraska's Strong Box,
RELlCT OF DEFUNCT GLOBE SAVINGS BANK
Present Procedure Not likely to
Bring in to the Commonwealth
It's Deposit Due for n
Long Time.

LINCOLN, June 1S.-(Special. )-There Is
a yawning vacancy In the state treasury
which was to be filled by the defunct Globe
Savings bank OF Omaha when it paid In the
$12, S92.54 belonging to the temporary school
fund. The bank had this amount borrowed
from thte state when 1t closed its doors in
June, 1896, and none of 1t has been paid
in, although a bond was given guaranteeing
the payment before the expiration of three
years from June 9, 1896. There is no evil
dence that the state officials have made
an effort to collect on this bond.
The records at the state house show that
the Globe bank put UP a bond in November,
1894, in the sum OF $50, 900 to enable 1t to
receive a part of the state deposits. The
signatures on this bond and the quallfica-
tions of the signers were as follows; II. o..
Devries, president of the Globe Loan and
Trust company, $50, 900; d. T. Mount, $l5,-
600; H. o. Devries, SIS, 900; Cadet Taylor,
SIS, 900; X. w. Bartos, SO, 900; w. B. Taylor,
$40, 900. These s%ureties, most all Of whom
seem to have been connected with the bark,
took oath that they were worth the sums
set opposite their names, over and above
all debts and exemptions. Devries q~ualitied
as the officer Of a corporation, and also in
his individual capacity. The bond was &C
cepted as being good for covering $4,000 in
state deposits.
When the bank was taken in charge by
the state examiner there was an immediate
effort on the part of the officers Of the in
s%titution to remain in charge. In order to
do this they executed a bond, got it accepted
by the State Banking board and took the
business out OF the hands OF the public off,
| Ger. The bond went on to say that the
stockholders desired to make full and COM
plete payment of all the debts of the bank
and desired II. o. Devries, president, and
Cadet Taylor, vice president, to take charge
of the assets. The bond was dated June 8,
1896, and obligated the sureties to see that
full payment was made on or before the
expiration of three years, the money due
to be paid in full, with interest" The
signatures on the last named bond were:
Globe Savings bank, by H. o. Devries, pres
ident; H. o. Devries, Cadet Taylor, $40, 900;
D. T. Mount, $50, 900; Globe Loan and Trust
company, by H. o. Devries, president, w
B. Taylor, secretary, 10000.
Bond Considered Adequate.
This bond, to guarantee the payment OF
some $40, 900, was apparently not as strong
as the original paper to protect the state
deposit, but it was accepted. A notation In
pencil on the margin OF the document is
as follows: 81 regard the within bond am
pie, and l vote TO Approval. ,. Churcn-
ILL.,"
The bank at the time 1t closed its doors
had state money to the amount OF $12,
S92 "a, which had been drawing interest al
the rate of 3 per cent. The new bond pro-
vided for payment, with interest" No rate
being stated, the legal rate Of I per cent
would prevail, so that at the present time
there is due from the institution $15, 500.
Since the escape of the only responsible
men from the bond of the late Merchants
bank of this city, with a consequent loss
to the state of 8 1000, the state officials have
very little to say about the chances of col
lection in the case of the Globe Savings
bank and in fact seem very little concerned
about the matter. 1t is quite probable,
however, that these rank cases will in the
future prevent the acceptance of bonds thai
have as s%ureties only the officers of the
institutions that desire to handle the public
funds.
In the case of the Globe bank 1t is APP
parent that the giving of the second bond
did not release the first one, but there is
little choice between them and at the pres
ent rate of proceeding the state Will go with
out its money a good long while.