The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-03-20
WANT BACK MONEY
LOST IN BROKEN
BANKS
County Commissioners Order
Investigation Of Bonds
mems LiabiIities-Part of
Issue of S12O,OOO Funding
Bonds Will Be Made in
500 Denominations.

County Commissioner Wright. OF
North st. Paul, at a meeting of the
board yesterday afternoon, went on
record as the only member of the
board opposed to an investigation by
the county attorney of the chances Of
the county to realize on money wrFch
il lost by reason of bank failures some
years ago. One of the banks which
contained county funds at the time it
became insolvent was a North St Paul
institution, and the county has never
been able to realize anything from this
bank.
The resolution calling for the inves-
tigation was introduced by Commis(
sioner Powers. and called upon thA
county attorney to make a thorough
investigation of the defunct institu-
tions and their depository bOndsmen
for the purpose Of determining whether
any of the bOndsmen could be compell-
ed to settle.
Commissioner Wright openly oppos-
ed the adoption of the resoIuton.which
was given the hearty support of other
members of the board.
Il won't vote for the resolution"
said the North st. Paul commissioner,
because don't think there is any use
Of it. I know we can't collect anything
from the North st. Paul bank or it's
bOndsmen."
There would be no harm in having
the matter Investigated by the county
attorney" said Mr.. Powers IF he
found that the bondsmen were not
worth anything suit would not be
brought -
It's foolishness. and I won't vote
for It," said Mr.. Wright, whereupon a
member of the board suggested that If
Mr.. Wright was so sure that his North
st. Paul friends could not be compelled
to pay, there should be no danger in
having the matter investigated. Com
missioner Wright cast the onk dis
senting vote when the resolution was
put before the board.
Will Look Up Bondsmen.
AS a result of the adoption Of the
Powers resolution the county attorney
will at once ascertain whether or not
there is any chance for the county to
recover from any Of the bOndsmen OF
the suspended banks. and if it is found
that there is, suit will be brought
against them. During the time when
the banks were failing the county lost
suspensions, and has never been able
to recover any part of the amount.
Commissioner Wright's attitude re-
garding the matter caused considerable
comment
While considerable other business
was disposed of by the county COM
missiOners yesterday, the meeting was
called for the purpose of taking some
action on the question Of issuing the
$4,000 funding bonds with which the
county's floating indebtedness will be
taken up. This action was made pos
Sible by a special act of the legislature,
which became a law when it received
the governors signature Wednesday,
Give Local Investors a Chance.
This bill was prepared at the sug-
gestion of County Treasurer Metzdorf,
and the funding Of the floating indebt-
edness will save the county per cent
per annum in interest, the new bonds
drawing but 4 per cent interest where
as the rate is now per cent. Com
missioner PQttgieser objected to the
bonds being issued in denominations
of $500 each. He thought that at least
$4,000 of the amount should be issued
in denominations of $780, so that the
local investor of small means might
purchase if he so desired
This plan was finally agreed to, but
no Definite action was taken at yeSter-
days meeting, the matter being re-
ferred to the committee on ways and
means, together with the treasurer,
auditor and county attorney, who will
decide upon the method of issuing the
bonds and report at a special meeting
next Monday morning.
Commissioner Powers again called
the attention Of the board to the fact
that something should be done at once
regarding the collection of delinquent
personal taxes. lie offered a resolu-
ton calling upon the tax CONT ittee to
go over the list of delinquents and pre-
pare a list of those from whom cOllec-
lions could be made, but the tax COM
mittee objected to the dictatiOn Of one
not on the committee and his motion
was turned down.
George c. GarrOW was selected by
the board to make test Of the quality Of
steel used in the new jail, and the test
will be made Saturday afternoon in the
pres nce of the members Of the board.
The board was informed that the
electric work in the new Jail building
could not be completed by the time it
is expected to have the building Occu-
pied and arrangements We're made for
the installation of a temporary lighting