Arizona republican., 1905-07-06

Prescott though it had been known to the officials for some time.
 Some time ago Public Examiner Foster at the request of District At tOrney Ellinwood looked into a com plaint that the guaranty company had neglected to comply with the law in that it had not recorded in the counties in which it was doing business the ap- pointment of it's agent. There was no such record in Yavapai county. It is thought that this fact having been brought to the notice of the company it has decided to withdraw from the territory. The Journal Miner of Pres colt speaking of the withdrawal of the guaranty company says:
 A telegram was sent to the board of supervisors last Wednesday by the Aetna Indemnity company, announced the startling news of that company's decision to withdraw from the bond of County Treasurer Ed s. Wright.
 The telegram was addressed to Chairman Dave Sinclair. and was pre- sented to the board behind closed doors and the utmost precaution has been made to keep the matter secret.
 Immediate reply was made in the form of temporizing or asking for fur ther information, and to the effect that the board could consider no withdrawal by wire, but such withdrawal must be made in due legal and formal man. her.
 "The supervisors have daily declin- ed to give out any information with reference to the Wright bond, or the proposed withdrawal of his surety, and it is only because of Wright's endeavor to prepare 2 new bond that the infor- nation has become public
 ''The fact that the surety company has notified the board of supervisors of its intention to withdraw from his bond has been known to a few on the inside from the day the telegram was delivered to Chairman Sinclair.
 "There are various rumOrs and re- plies to questions with reference to the probable action of the board in this matter, but it seems certain that un- less good reasons can be shown for the withdrawal of the bonding company, a formal release will not be consented to-
 '''The bond of the county treasurer is in the sum of S1000000 and because the board of supervisors has kept the matter of the withdrawal of the surety company secret, and for the reason that there has been no action taken other than to reply to the first tele- gram. the news to date has not been made public
 District Attorney EIlinwood was called on to pass upon the first an nouncement made by the surety com pany. and it is understood dictated the reply made by the board. The legally of the withdrawal is in question but so far as can be learned. ten days mo- tice is required on the part of the surety company before it can under take to cancel the obligation for which it had been paid by the treasurer.
 Despite careful inquiry. nothing can be learned which might lead to an ex- planation of why the surety company intends to withdraw from Wright's bond. Members of the board or su- pervisors who have been questioned on to discuss the matter.
 one explanation is that the com pany from which Wright secured his bond. has not complied with the ter ritorial law. which requires that 1t shall file the appointment of it's statu- tory agent with every county in the territory. The Aetna had not done this, and is subject to a fine of not less than $500. The public examiner has been looking into this matter and it is believed that the surety company became alarmed and wanted to get un- der cover.
 "Should it become necessary for Wright to furnish a new bond. under the advice of the district attorney, the board must give ten days notice, after having declared the office vacant be- cause of lack of a bond. in which time the treasurer is to secure new surety This bond must pass through the same course before it's acceptance as at the time of the filing of the original instru- ment.
 'Dame rumOr is busy in the monied class of the city with discussing the chances of Wright being able to se- cure a new bond.
 "The opinion seems to prevail that because of the withdrawal of his first surety, and that because he was forced to secure his bond through a surety company, that he will not be able upon a second attempt to get such local en- dorsement as will be required to ob tain a similar bond from some other company.
 "On the contrary, MT. Wright, asserts that he is already prepared to file new bond within twenty-fOUr hours in the event that the company succeeds in it's plan to become released from it's .T,1f ion,