The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-07-13

remain in charge Of the board, where
no commissions would have to be paid
the treasurer, and where it could be
loaned out al interest, etc
The matter was brought to public
attention for the first time at a meet
ing of the board of commissioners
Monday afternoon, when Col. Jas. I.
Morehead. attorney for Treasurer Nc
Marry, appeared before the board and
in behalf of the treasurer and the law,
demanded that the fund be placed III
custody of the bonded official. TIL
lawyer read the law governing tho
proper custody of county funds show
ing that however responsible and re-
liable the members of the board of
county commissioners were, there was
no official security or safeguard foi
their keeping so large a sum of money
in their possession, and that treas
urer was elected and bonded for that
very purpose.
The Fund Safe I'm Any Event.
Chairman Raglan combatted a good
many of the yawyer's propositions.
His statement or argument. was to
the effect that the board WAS swing
the county a great deal of money, first
in saving the commissions which the
treasurer would receive, and second,
that it was drawing interest at -four
per cent. since April first. He also
said that the board thought it might
be we'll to use this money in buy
ing up for the county some of new
issue road bonds when possible, Oh
use it as a sinking fund for the pay
ment Of the principal as it might fall
due, getting four per cent all the time
on the deposit Col. Morehead in re
ply TO this read the law, and SAID
the county commissioners had no right
to hold the monies Of the county un-
der any such supposed power, however
laudable might be the intent. Finally
with the implication that the county
treasurer might be impelled in his ac
ton from selfish motives, while he
was actuated solely by regard for the
county, Chairman Raglan demanded
that his application for the money be
made in writing and signed by the
treasurer. cor course the treasurer
having been just elected for his first
term, expects to be a candidate asain.)
When Col Morehead presented the
signed demand of Treasurer McNairy
for the funds, a smile went round al
the terms of it's demand, ii being inn
possible now or in future to make out
any political capital against the
wary old one-legged treasurer. He
signed paper, demanding all funds
which by law be in his hands" Hav-
ing received this, it was up to the
board. An executive. session was then
henld and while there has been no
official public announcement of the re-
suit of the private conference, one Of
the members of the board assured the
treasurer that the matter was all right
and he would get the money, while
+tasat l.
money would be forthcoming by the
first Of August and would be trans
ferred to the treasurer. There has
never been any question of the abso-
lutte safety of the fund. or its faithful
administration, but there has been
much concern felt at the precedent OF
thus taking charge of so much money
not under the custody Of the treas
urer, protected by his official bond.
1t is said to be safely deposited i'll
High Point bank and interest at 4
per cent since April first has been ac-
cruing. Why no interest had been
paid before that time has not been
made known. Now that Treasurer
McNairy will have the handling of
this fund some of the lawyers are dis
cussing the question as to whether or
not ex-Treasurer Mckinney, who be-
fore going out of office December first
was not "constructively' In posses
sion of ii and entitled TO his commits
sions Asked about this, Mr.. Mckin-
ney this morning said that was all
lawyers talk; that he had given the
county while treasurer. several hum
dred dollars as interest or commits
sions, and he shouldn't raise any rum
pus over this. although he thought all
the time the treasurer was the proper
custodian of county funds except
where otherwise expressly provided to
the contrary.
GuiIford Mule Innuisitiye Unto Death