The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1905-01-19

For "a dcia.lfd statement q AHH nAfl-
ness affairs az the territory you are
respeeifuIly referred 20 the prin ed
copy OF the AUDITORS report whirh has
heen plseed before you.
TerritsriaI Treasurer.
The report of the treasurer shows
the sum AZ 1868, sos 90 10 the credit
w the territory on November 20.
1904. This arount Includes ne sum
of szz4,O53.2 2I on deposit IN the Capt.
tol National Bank al tne time of its
failure IN Aprii last. Recently the
comptroller auihorized q dividend OF
20 Der cent The territory rec lFed ~
result Of thie div tidend, s4s.slo-vs-
The territory was insured ~ he
American Bonding Company Of Baiti-
more in the sum Of s25o.eJo. IN tha
Emitted states .'idelity ana euarantf
Company IL the sum Of s25 600 Thesr
companies refused to meet lEelr obii-
ratlcas 10 Ia. territory and SUIT has
been commenced against them 70 re-
cover the Insurance.
During the past bisnrium the orly
bonded inaebt. dness Of inc territory
has been canceied The amount q
ponds redeemed vas $4,000. Interest
IN bonds, s5,4o7.20. Total, S53,4oI-Z0.
There sim remains on hand n The
bond interest fund s7.2s0.0s.
AS the territory new mas no bond
"a Indebtedness no bond Interest fund
Is mel ded a4d i respectfully reeom-
mend that a law be enacted auth" szing
s:8e transfer or The balance In the bond
interest fund, az well as amounts thar
may accrue 70 that fund in ths future
rom taxes now assessed bat unpaid
,o the general revenue fund.
ire taxes accumulating from the
session laws fund could also b. very
adyantageonsly transferred % either
the general revenue or the library
fund
The amount Of delinquent taxes due
10 the territory from the various coua-
lies Is s312. 22s.3i.
This delinquency extends from 1901
1909 to 1903.
Territorial Depositories
Tie problem Of territorial deposito-
les Is 4 hard one to solve. Viewed
from any standpoint. it Is difficult n
reach a conclusion as TO wnat Is best.
In 1901 the legislature enacted q d.
lository law. That law provides thar
he treasurer shall make a contract
tthe contract to receive the approval 81
ne governorl with a bank o. banks in
the territory. The law provides also
governmental bonds. surety bonds
territorial Eefal fund warrants and
municipal bones should be required
security
Shortly after the approval of the le
posltofy ae.. III April. 1901, a contract
4 IA made with tie Capitol National
Bank designating It rs the sols deposit
tory Of the territory for one year from.
the first day Of May. 1901.
At the beginning or the present ter
-iior.al administration wnien Was u.
he 10th or December. 1901. there was
deposited in the Capitol National Bank
The sum OF s37s.so9.75 in territorial
Iunds.
About this time Natter part of 1901
here We're additional sums deposited
n this bank amounting n all to sg1s,
is9.75. This was money for which The
erritorial administration was response
DE although il was not territorial
money. II camc into the CUSTODY uf
he school land office from applicants
on school land In the counties which
lad been op ned for settlement DUR
ag tie summer Of 1901 Each bidde
or school land was required to de-
osit the amount Of his bid and Az
here were .FeQutH,iy numerous appIi-
ants Tor the same tract OF lana The
eposits were enormous Of the
57ssls0 10 which lad be deposited
urina the copeiit.ve bidding III the
zll or 1901 the sum Of 5476,3i3.2s
fas returned to unsuccessful biders
nd the balance passed to the cFs dit
+ the funds 10 which the lard b.
'nged. The amount of money lnclud
lg territorial money and money bia
p school land which vas deposit 4 IN
le Capitol National Bank during the
litter part of 1901 was enormous. proh-
bic az ore me between eight ana
IN hundred ihousanc dollars Afte.
le sA7ssis.2a had been returned to
IS unsnce essful bidders and the ball
1re had passed into the custody III
srritoriaI treasurer. 1t Increased ths
,Fritoriai deposits until on Ire s0th
Ay Of April. 1902 there Was in the de-
osliory the sum Of s6a2, Sg5 ~. The
apitol Natoral Bank contained MI
lis money having BE- designated -
ie territorial depository IA April. is0t.
{ the expiration OF the original de-
osilory contract II was not seenad
ssi 70 Ne p such large afaornts III
le bank, consequently additional con-
acts were made with other u,....
spositories, tAe Capitol National BANK
ling continued as ons or tie dspos-
orits
- The time of the expiration of the
'ntfac4 wigh the capitol Nauona
ank as sole depository many banks
Ter the territory b. came applicants
become depositories The treasurer
= confronted by perplexing p.opo
lion. Tier were two featlres 81
e situation 10 consiCsr. II m,nv
nks were made repositories. Nhil-
= amount ia each would be less tha
biiity Of failure woufi be Increased
pom the other hand n a limited mam-
r of barks were made deposisortas