The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1905-10-27

Into Office. Tho full statement Of tn
Items discovered Ia given elsewhere
One Of these was On Jan. Is, 1901
lst four days before Dr.. Timmerma
turned the office over to Os pit. Jen
nings.
MIR zIMMERMANs DIsApPEARANCE
There was some delay In the prep
Grafton OF the warrant and DR.. Bate
ana DR.. Zimmerman, the two ftrme
State Jreasurers, who still have a yer,
sympathetic regard for Mr.. Z!mmer
man, drove out to his house to pre-
pare him for what was coming and tt
make final appeal TO him to clear ur
the matter II 1t lay within his power
to do 30. When they arrived at Mr.
Z'mmerman's home about noon they
we're Informed that he was at the in
surance ofllcs OF Mr.. s l.. Miller. They
drove without delay to the Office OF
Mr.. Miller aud were informed that
Mr.. Il mmerman had just left. That
was about / o'clock and 1t was not
until o'clock that the warrant was
placed In the Lands of Sheriff Cole
man. AS soon as the warrant bad
been sworn out, the news was made
| tuolic, and Mr.. Immermans friends
Es well as the officers OF the law were
al on the lookout for him, but he has
not been seen since the time or about
| tie time he left Mr. Mlller's Office.
ER ZIMMERMAN HARD HIT
e va. be some time before 1t can
be told /. .hnitely In whose adm,nistra
tions these {, fl .lrs occurred, but at
present it appears that the liabilities
will be about as follows:
w. Il Q Bales. IS 1900
w. ii. Zimmerman ..... 10000
II. II. Jennings. | 400
To this o: course must be added the
interest which will iucrease the total
amount lost by the State Of South
CAROLINA and to be recovered on the
bonds, 80, 9o2
It's alle%a That the frau lulent er-
tries were maze in this wist A party
having bonds might prefer stocks in
exchange. The papers would be pre-
sented and the transfer made. Then
instead OF cancelling the bond the
clerk In charge, apparently, would
take out one Of the bonds when there
would be large package and at &C me
convenient date would put 1t on tue
market as If 1t were a negotiable in.
strument instead of bond whose val
idity had been wiped out by the OK.
change. The bonds Of the State are
payable to bearer, just as q bank note
or other currency, and the stocks are
payable to order only.
The interest on the bonds Is the
same az the interest on the stocks
1T the coupons on the bonds NAV be
presented by any one whereas the In
terest on the stocks Is sent in checks
TO parties In whose name the stocks
are made out unless the State treas.
urer has been notified Of the transfer
OF the stocks For that reason many
people prefer stocks to bonds and there
are Issued sometimes as many as i ).
800 stock certificates In O year.
HOW IT COULD HAVE BEEN DONE.
10 show how easily this kind Of
transaction might have been made
"iUhOut discovery except by accident,
5herc are on the books of the State
treasurer bonds of this issue alone
valued at S3,374, 900 and stocks valued
at So 226, 600. Since the date OF the
issue OF these bonds there have been
issued 4,O44 bonds OF the denomina
tion OF 81 0C0 and 2,l34 bonds OF the
denomination OF $500. Many Of these
ooi q have been exchanged for stocks
anu therefore 1t VIII be apparent that
fraudulent transactions might have
occurred as the employees Of the treas.
ufer's Cili1 1e are considered above sus
plcion and the bonds are not counted.
1t Is said that when q package OF
bonds would be returned in exchange
for stocks 1t would be very easy TO can
eel nine OF the bonds and substitute
for the tenth cancelled bond which
had been taken up several years be-
fore. The legislative investigating
committee would count merely the
bonds as units without Inspecting
them, and II the number correspond "a
with the number reported exchanged
for St cks within the year. there would
be no suspicion of the fact that one
OF the bonds exchanged, for instance
In 1895, had been substituted for a
bond exchanged Ia 1000 and that the
latter had been taken from the pack.
age and had been sold. The State
woul" therefore be paying interest on
the bond which should have been can
cellcd as we'll as upon the stock certi.
ticate which had been Issued in place
Of the bond.
AZ Mr.. Il nmerman was charged
with the custody Of the bonds, as he
the exchanged bonds cancelled" and
was the one responsible for marking
as the entries on the books were In
his handwriting it is easy to connect
him with the fraudulent Acha npc.
His many friends hope that there will
be some way In which the oatter can
be cleared up and Mr.. Zimm merman
prove that he was not guilty of the
serious otfensss charged
MIR. Zimmerman Il surrendered on
Wednesday and gave bond for seven.
teen thousand dollars for his appear
ance at court.
Ktiled Two.
John Price a young drug clerk, had
a battle with band OF Italians at