Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1907-12-12
J. c.. STUBBS,
A. O. ST. CLAIR.

j. C.. STUBBS,
A. o. ST. CLAIR.
This report was railrOaded through
with the general finance report OF
1he said committee, the two on the
same motion. The whole motion
was passed with only one dissenting
vote, Lester Clark of Ladysmith.
At the close Of the session, inter
psted parties having left, as we'll as
part OF the board, the above motion
was divided and OF course railrOaded
through as before.
Permit us to say right here that
it is our aim to explain the action
of the board and not to say one
word unfavOrable to our neighbOr
Banks. The county funds will be
well taken care of this year as in the
past two years.
Look at the above report of the
finance committee. 1t states, that
the Lnmbermans State Bank was a
depository Of the county funds last
year. This is not true. They had
nothing to do with the county funds
and furnished no bond to the cOun-
ty as the law requires depository
to do. And the report goes on to
say it is unwise to make any change
ut this time, but nevertheless does
that very thing by dividing the
money equally between the old de-
pOsitOry and q new bidder.
We feel that we are justified in the
interests OF our stockholders and de
pOsitOrs in asking for fair dealing.
Our county board is supposed to
give this, and in asking for bids on
public money, other conditions be-
ing equal, the highest bidder should
get it. Other conditions were equal,
each bank agreeing to furnish a
Surety Co. Bond and the one Offer
ing o pay ; 70 interest and the
other two banks o o. We ask the
members OF the finance co mmittee,
or any other member of the board to
deny that this was q clear case OF
railrOading u matter through, and
we ask il bids are to he disposed in
the future as theywere in this case,
what is the use OF Ofsubmitting bids at
all?
The Ladysmith National Bank be-
lieves that it should have considera-
tion for the following reasons:
1st. Il h e I.adysmith Nation al
Bank commenced business over two
years ago, with u paid up capital OF
$25 900, and has conducted q legiti-
mate banking business, serving the
public in a most safe and satisfactory
manner AS IL result this institution
has made q rapid and healthy pro
gress, and has the utmost confidence
OF its many patrons. 1t is soliciting
all legitimate business and is GER
tainly not entitled to the slap of a
few of our public men, who are sup
posed to be representing the best in
terests of the people.
2nd The taxpayers of r u S i
county were never paid a cent OF in
terest for the use OF their money un
til this bank was organized.
3rd. II h e Ladysmith Nationa
Bank was designated county depos
itory for the year 1906 paying 3 Ok
interest and securing the county
with a $780, 900 Surety bond. We defy
any member of the board to deny
that the funds were not well takel
care OF, or that every courtesy wa
not extended to the county.
4th. After another bank wa
madecounty depository in December
1906, the County Clerk, upon the au
thority given him by the board
sought the loan OF $4,000 that th
county was in need Of. The the
designated depository refused tt
make the loan until the Count
Clerk secured said loan at the Ma