Omaha daily bee., 1902-08-02
COUNTY'S CASH RUNNING Low
General Fund Practically Exhausted by
Warrants Already Drawn.
COMMISSIONERS sHoRT-sIeHTED POLICY
Economy Abandoned and Levy Low.
cred, So that Interest Indebt-
edness 10 Sure TO BE
Increased.

Warrants to the number Of 5,e01 and rep
resenting a total Of $751; 15.17. have been
drawn against the general fund Of the
county levy Of 1902. Against the bridge
fund there have been drawn sixty-four
warrants totallng S2,275.74 and against the
road fund 1O2 warrants totaling $5,9S4.39.
A number of brokers are at the county
clerks office each day to accommodate
those who wish to realize Immediately on
their warrants. and these brokers believe
that they have prospect Of q considerable
profit. Any such profit for them is the
cOunty's loss. because It Is represented by
tho Z per cent interest that is paid on q
warrant from the time It is registered at
the treasurer's ONCE to the time 1t IL called
In and paid by the county. The first Of the
warrants issued since the last levy may be
paid within a month, It is said, but others
are not expected to be called before the
February collection Of personal taxes, so
that they will be drawing 7 per cent in
terest for a half year at least. Last year
between July - and August 1 general fund
warrants were drawn for ;107, 6S6.9i, but
between July "a and August 1 OF this year
the total Of S137. S15.1 is reached. and II Is
thought that Of the 5.OO1 that were drawn
at least 1000. representing about 500, 900.
have been given over to the persons whose
names they bore, and most Of these are
said to have been registered already, and
hence are now drawing interest.
Little Warrants Barred.
The county treasurer will register no
warrant that calls for less than $40. and
as this means that they cannot draw in.
%terest. It is the small ones that have BEEN
left unealled for. The brokers, who nav the
face value or a slight premium. relying on
the accumulation OF interest for their profit
have, OF course, no use for the non Interest
bearing warrants, so that II a man does
call for his little warrant he has no mar
ket for 1t at Its face value II the treasury be
depleted, and must patiently wait for the
money until the call is made or sell at a
discount.
One result Of this is that while a day
laborer who worked for the county to earn
bread for his family must wait at least q
month or a k less than the amount
ne earned. the Cudahy Packing company
was onered a premium Of 1 per cent on its
warrant for N,7OO for supplies the other
aay "nen two brokers reached the repre-
sentative Of the company.
TIL bidder, by the way, was a Mrs. Char
ton who states that her husband "a 4
motorman, but who is at the court house
regularly since the issuing began and who
Is said to have bought more than 81. 2OC
worth. paying for them with cash, which
she draws from a little old-fashioned
leather satchel that never leaves her hands
where VIII County Come QUIT
! 1T is a question with me" said one who
has watched the boards hnanoiering and
who protested against a low levy, ''Just
where the county is coming out. II II
allowed by law to draw on only IS per cent
OF the new general fund and this is $780,
131.67. Already warrants are out fol
! / 8 T,si5.17 OF this amount, leaving
for the expenditures OF the rest Of the yoAS