The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-10-21
Cross Examination.

cross examination.
Questions by Mr.. West.
Q.-When does the school fund COM
mission or the state become entitled to
the interest on the purchase of refund
ing bonds that it buys?
Ave have always figured from the
date that the bonds were registered in
our office to the school fund.
ON this case that is on August IL :?
August IL, 1904. That is the day
that the state is out its money. and we
figured interest from that time.
$50 if Mr.. GODDARD had owned this
issue of refunding bonds from July LIST
until August 18th, the state was not en-
titled to the interest during that time
this Az rate of interest-and if on Au-
gust 18th the purchase of the school
fund commission was completed, then
the state would not be entitled to the
interest between July list and August
18th, would it?
A.-No, sir.
Q.-That would naturally go to the
owner of the bonds?
Ayes, sir.
about issuing him this warrant for in
terest?
A--So far as the records in our office
show, there is nothing unusual about it.
Q.-You spoke this morning about a
rule of the board regarding the basis OF
valuation. What do you mean by that?
Al did not speak about rule OF the
board.
e2.-W nat was you SdiQ
A.-The rule of the auditors office is
what L referred to.
Q.-What did you mean by that?
Al meant that when school bonds
are purchased by the commission and
sent to our office to register, we ex-
anime the records In our office to deter
mine whether the total Indebtedness OF
the municipality, including that issue,
exceeds fifteen per cent of the total val
uation of the municipality, and that 1t
has always been the rule of the office to
consider the valuation reported by the
county clerks. s,~z
o. am asking about whether they
were cases like, that which arose where
there was difference between the
county valuation and the equalized
valuation?
Al would not notice that. be-
cause I never look up the equalized
$50 all you mean by this rule is
that it was the custom of your office
to regard fifteen per cent of the val
-uation?
I mean TO say that in looking up the
records in reference to this in our Of
flee, we paid no attention to the valu-
alton equalized by the state board.
Q.-As a matter of fact and GUS
tom, usually the valuations are sub
stantially alike, aren't they?
Al would say rather the contrary.
Q.-Very much difference usually?
counties out of one hundred and five
whose valuations were left unchanged
by the state board
Q.-What is the object of the state
equalization?
A.-The equalization by the state
board is for the purpose of obtaining
a basis on which to fix the amount
of taxes to be paid by each county
for state purposes.
Q-The purpose is, isn't it, to equal
iza Sn that all counties will he treated
alike?
A.-So far as the payment of state
taxes is concerned.
Q.-You say that it has always been
the rule to take the fifteen per cent
of the valuation as returned by the
county clerks?
A.-So far as my knowledge ex-
tends.
Q-How long has it been since we
had a fifteen per cent basis in exis-
tence?
A.-Since the legislature of 1908.
GA little less than one year-so
that there couldn't have been that rule
before that, as a matter of fact?
Al presume the rule previous to
that time was a ten per cent basis.
That was the law.
Q-Had you ever had a rule estab-
Iished in your Office to the effect that
when this question should arise, the
office would determine it for itself or
rely on the opinion of the law de-
A-WeH. we had sort of an un-
derstanding in the office that in the
event we discovered any irregularity
in that particular, we would call the
attorney generals attention to it, and
of course the rule has prevailed in
our office that no bonds should be
to the school fund where
the total Indebtedness exceeded fifteen
per cent of the assessed valuation.
Odd you make the statement at
any time that you would not register
those bonds except as it was accom- 1
panied by the condition that it was
o. KID by the attorney general?
A.-On that point, 1 did
Q.-That is, whether he said so or
not?
Al made the statement I would
not register the bonds without a writ
ten opinion from the attorney general
that the valuation fixed by the state
board of equalization was the correct
valuation TO consider.
Redirect Examination.
Questions by Mr.. Waters.
O-Mr. Nation. if the state treasurer
had on July 26, 1904, paid to A. A.
GODDARD $123.000 of state funds. the
full face and principal of those bonds,
was he entitled to interest after that
date? Was anybody on earth entitled
to interest after that date?
= A-That would be difficult ques-
ton to answer.
Q.-After a man is paid by the state
and out of state funds the principal
of his bonds, they should stop drawing