The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-10-30
THE BOARD OF FINANCE
Continued from First Page,

Continued from First Page.)
ascertain if the different banks would
pay interest on deposits and that the
controller or other members of the
board would report as a subsequent
meeting. AS he recollected, all the ma
tional banks of the city We're conferred
with, and in each case refused to pay
interest on city funds.
Mr.. Dewell-"Do you think that was
the proper way to carry out the lnten-
ton of that section Of the charter"
Mr. White-'I thought 1t was"
rs that the way you would advertise
for bids for anything?"
I'm that case 1 thought that it was
the proper way"
No record of any action of the board
in attempting to secure interest can be
found, but Mr.. White said that he had
| supposed that 1t was a matter Of record
and thought that it should be. He had
understood at the time that the Mer-
| chants bank and all the banks of the
city We're inquired of. To the best of
his recollection, Treasurer Mersicll had
not asked If any bank of deposit had
been designated prior to May, 1879.
Fl. Brown, another member of the old
board, was called Before he took his
seat at the table Mr.. Brown retired to
an adjoining room with Mr.. White and
after a few moments conversation
there returned and took his seat at the
/ table. Mayor Driscoll then asked Mr..
White one more question 1t was:
GLOW did you, as member of the char
ter commission, put in that section 30 IL
you thought that there was no posi-
bility of getting interest on city depos-
its?"
Mr.. White--"It has proved since that
it is possible at this time"
Mr.. Brown was next questioned. He
said that he remembered Controller
Brown reporting to the board concern
ing his inquiry of the banks. During
the first year that he was a member of
the board he did not remember any
vote passed instructing any member to
make inquiries about interest.
Mr.. Dewell-"Why didn't you send
out notices in 1897 or 1898 as well as in
May, 1892"
Mr. Brown-"It seemed foolish to me
to send out for any bids"
ibid it seem proper to- you under the
charter to ask for bidsNin such an in
formal way?"
'Yes-to feel of the market"
Mr.. Brown didn't know but that If
circulars had been sent out before May,
1899. the Merchants bank would have
paid interest.
Mr.. Dewell-"Did you between June 1,
1899, and June l. 1900 inquire If money
was deposited in designated deposit
tory?"
Mr.. Curtis objected to this question
and Mr.. Dewell said that if Mr.. Curtis
wanted to suppress anything he should
make a motion to that effect.
Mayor Driscoll allowed the question
Mr.. Brown said that he remembered
distinctly that members of the board
called the mayors attention to the fact
that funds were not being deposited
where they should be.
Mr.. Dewell-"Was any notice sent
from this board to the city treasurer re-
curing him to deposit in the city de-
pository?"
IT don't know"
"Was any inquiry made as to the In
terest ne was getting from the depos-
itory?"
"The treasurers reports should show
that
Mayor Driscoll and Mr.. Wright |
thought that these questions were not |
pertinent to the investigation, which,
they said, was to cover a period before |
June, 1899
Mr.. Dewell thought that all should |
come out. If the members wanted to
suppress anything they could do 80. |
He, for one objected to suppressing
On motion of Mr.. Wright the board
voted to excuse Mr.. Brown.
William H. Forsyth, Captain Dove
and William Maley, members of the
board in 1898, were next called and were
questioned briefly.
Charles e. Curtis member OF the
present board which is investigating,
and who was also member Of the old
board which is being investigated, was
next called to testify. He said that as
a. bank officer he knew that the bank
which he represented (the City bank)
would under no conditions pay cent
of interest on city accounts He said
that all bank officials We're much sur
prised when in May, 1899, Mr.. Mersick
offered to pay interest. He read a
signed by officers of various
3ity banks, stating that those banks
would not pay interest on deposits be-
fore May, 1899. He didn't construe the
charter as requiring the board of
finance to designate a depository, I'M
ess it would be Of advantage to the city
to do so.
Mr.. Atwood then moved to go into
executive session. Controller Rowe OBJ
ected, saying that he thought the
meeting should be public. The motion
prevailed however. 3,
In executive session the board voted s
% hear the director of public works and ,
he town clerk on the estimates of their !
next Thursday evening I
md to give hearings to representatives ,
,f the fire department and the depart !
nent of charities and correction next r
friday night c
Action on the investigation will be 6
aiken at subsequent meeting.
AN INTERESTING JOURNEY.
Description of Ride on Horseback in =
Central Turkey. 6