The Brandon news. (Brandon, Miss.) 1892-1961, 1907-11-21
TO SAFEGUARD
PUBLIC FUNDS
STATE SENATOR POTTER HAS
NEW DEPOSITORY PLANS.
FIRE VISITS BAY ST. LOUIS
Destroyed Business Portion of the
City-Rate Of One Cent Per Mile
Will Be Granted on Account Of
Militia Tournament.
To Safeguard Public Funds.


has framed series Of important
measures, which propose the estab-
llshment of state, county and NUM-
cipal repositories, and which he will
introduce during the early part of the
session. The principal bill incorpor-
ates the best features of the deposi-
tory law as proposed by State Treas
urer w. j. Miller, and also the Ar
mold bill, which was up for considera-
ton at the last Legislative session.
The main bill requires the state treas
urer to deposit in state and national
banks of approved standing and re-
sponsibility to payment on demand
from the auditor of public accounts
when pay warrants are presented, and
the banks carrying such deposits shall
pay an interest rate thereon of not
less than 2 per cent per annum, in
terest rates to be fixed by the gov
ernor, attorney general and treasurer
on the first Monday in February of
each year. No bank shall be allowed
to carry deposits in excess Of % per
cent Of its capital and surplus, and
shall be held responsible to the state
in an amount equal to the par value
Of its stock for the safekeeping of
funds. The bill provides In detail for
all the business relations between the
state and the repositories. Of equal
Importance, and perhaps Of more gen.
eral interest, is Senator Potter's bill
establishing county repositories, by
providing that boards of supervisors
shall receive bids from banking instl-
buttons for the privilege Of carrying
! the county funds, on which an in
| terest rate of not less than per cent
shall be paid, based on average daily
| balance, and such deposits to be sub
ject to demand on warrants issued,
The treasurer shall be paid salary
OF only 5000 per year, and payment
by the treasurer of the county funds
into qualified depository releases
him and his bondsmen from any fur
Their liability. The bill proposing the
establishment of municipal deposition
les is similarly framed, and it is Sen
ator Potter's plan to have all intro
duced and brought up for considera-
ton at one time. A very strong argu-
ment advanced in favor of his plan
is the proposed reduction of the sal
aries of county treasurers to 5000 per
annum, which would result in a decid-
ed saving to the seventy-eight coun-
ties in the state. This will, Of course,
bring forth strenuous protest from
the newly elected county treasurers,
who cannot be reasonably expected
to manifest pleasure over the pros
pect of seeing their fees and emolu-
ments go glimmering into the dim dis
lance.
Bay st. Louisa good portion Of
Bay st. Louis was wiped out by a
disastrous fire. Famed to fury by
high gulf wind, the flames took
everything in their path, eating hole
through the prettiest district of the
city. The total loss is placed at be
tween $225,OOO and $25O,OO0.l st.
Joseph's convent, one of the most
famous institutions in the south, was
totally destroyed, the Catholic church,
the residence of the priest, snd sew
eral adjoining structures were de-
stroyed, the Catholic church property |
loss alone exceeding 100000. Other
buildings destroyed were, the Osion-
ach theater, the Hotel Clifton, the
Cumberland Telephone exchange and
the Butterick building md number
of smaller structures.
The local fire department was UNI
able to perform much work, the fire
being under good Roadway when the
alarm was turned ia. Citizens joined
the fremen in a lplucky fight, h
ever, and several buildings were saved
through their Efforts Telephone mes
sages were sent to adjoining coast.
towns to send fire fighting apparatus,
but the confagration was under con-
troll before assistance arrived.
Harrison Austin, is years old, one
Of lthe laborers around the animal
show Of the Consolidated Shows, To-
Gated on the Exposition Grounds at
jackson, was found dead in a bunk
under one Of the animal cage wagons
The cause Of his death is uncertain,
but there is no suspicion surrounding
it, and the coronr's jury ascribed it
to heart failure. s
The Mississippi Railroad Commits
sion some time ago sent out requests
to all the roads doing business in the
state, asking for statement showing
the number Of people killed and in
il1rnd on their resp4ctive lines in this