New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1904-04-27
TOLD TROUBLESOME TRUTH.
Mayor Silverson Was Frank With
Aldermen.
Council Meeting Wednesday Night
Slightly Stormy.
Executive Expressed His Views
Upon City Depository.

Financial matters were the absorb
ing topics of discussion at the special
council meeting held last Wednesday
night, and upon several occasions the
session was quite stormy. Mayor Sill
version gave the aldermen several heart
to heart talks. All of them were beauti-
fully concise and directly to the point
but some did not coincide with the
views of Aids. Nagel, Flor and Rich
artz. .
When the meeting was called to
order the resignation of Andreas
Amann, as alderman from the second
ward, was taken up. It had been re-
ported during the day that Aid. Nagel
would propose the name of Emil
Wicherski for the vacancy and that
the latter would be railroaded through
and this program was carried out to
the letter. When the Amann resig-
nation was accepted Nagel made the
nomination as per schedule and then
Aid. Gieseke nominated F. II. Retzlaff.
At this point L. J. Buenger presented
ward asking that Mr.. Retzlaff be ap-
pointed. 1t contained upwards of a
hundred names but it was not allowed
to interfere with instructions and
Mr.. Wicherski received three votes to
two for Mr.. Retzlaff.
A communication from Treasurer
VIM. Frank was read. In it he stated
that the State Bank of New Ulm had
offered him desk and vault room and
that he had accepted. His Office would
be in the rear room of the State Bank
building and until the city depository
is named that institution will pay 3
per cent per annum upon deposits.
Mayor Silverson was called upon
and declared that he had invited
Treasurer Frank to be present at the
meeting. He understood that the city
was heavily indebted to the Citizens
bank. Corporations need credit just
the same as private individuals and he
questioned the wisdom Of the policy
of borrowing money from one bank
and depositing it in another. In his
opinion the Eagle mill had better
credit than the city. When it needed
money it borrowed from certain banks
but its balances were always deposited
in the same banks. "This city," said
the mayor, twill soon be pretty hard
up-it needs money now. Therefore
we should stand by the people who
have made loans to US in the past.''
Defining his own standing in the
matter Mayor Silverson stated that he
had sold his stock in the Citizens
bank, and followed up the declaration
with a thrust a5 the practice which has
been INDUCED in by some city officers
of furnishing goods to the city in
violation of the law. Said he: II am
not interested, and I will not sign
vouchers in which any alderman is
interested.
uC IudS VI Ca plCSoCu U110 Oc1lSl Uudt
the Citizens bank was still the city
depository and criticised the removal
of the funds to the State bank. One
thing which the aldermen should con-
slider in this connection was the fact
that neither the Brown County nor the
State could loan to exceed Is per cent
of their capital stocks. Thus the
maximum sum obtainable from them
would be 700 and the city now owed
the Citizens more than that.
Aid. Nagel said thathis idea of the
matter was that if the city treasurer
had the keeping of the funds it was his
| right to deposit them wherever he
chose.
A second communi alton from
Treasurer Frank explained that there
| was an overdraft of SO, 64953 at the
Citizens, and that the interest on i
amounted to S42.57. This could not be