The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1908-10-22

the banks; figures it out and hands it
to me and that is all there is to it.
After that it is mine and belongs to
me.
Q. Then the state keeps no ledger
account with you, so that no one can
tell how much you receive in fees?
A. He can tell you if you want to
know.
: @. The books don't show it?
A. Np.
Depended Entirely on Green.
Mr.. .McKinnon testified that he did
not personally check up the interest
to see if the amount was correct.
Q. Did the auditor never complain
to you about the way you handled
this interest account?
A. No, sir.
Depended on Banks to Verify Interest
Payments.
After the house of representatives
requested a statement from the treas
ury concerning state repositories, Mr.
McKinnon had to write to the banks
to verify his report. He had no other
way to prove his report
Asked as to how he procured the
data to make up his report, he re-
Piled
A. Partly from the correspondence
and partly from the statement of the
banks. / wrote each bank, asking for
a statement from the beginning, from
the first time they had any money OF
the state, until the present time, and
the amount of interest paid, dates
and SO on, and got replies from all
of them.
@. Why did you write to the
banks?
A. s Because wanted to be sure we
were right.
@. What information did you have
in the Office to enable you to make
it up?
A. Correspondence and certifi
Gates. Senator, you understand there
is no book account kept and there is
no use harping on it all the time.
Green's Campaign Conflicts With
Business.
Deputy Green found it impossible
to carry on campaign for nomina
tion to succeed to the office and keep
up with official business at the same
time. according to his own testimony
@. The last time we were down
here, there were checks of $4,000 to
$4,000 in February. Has that been
deposited yet?
A. (By Mr.. Green.) No, sir, not
yet, and won't be. until the last of this
week some time.
Q. What is the reason for the
delay?
A, You know as well as do, Sen
ator. We have simply been worked
to death, and have been endeavoring
to carry on a campaign.
Deposits Not Rated According to
capitalization.
Mr.. McKinnon was asked II de
posits were rated according to the
capital stock of the bank and replied
not always, as sometimes banks hav,
ing large capital would ask for de-
posit when there was not much
money to give, althoughNthe com,
mittee's expert found that monthly
balances often exceeded $1,000 ,00C
Cash not on deposit" and in Novem
Der, 1907, the balance exceeded
$4,000, 700.
@. How about bank of small cap
ital? If a bank loans up to so per
cent of the value of the real estate,
do you fix any rule as to the amount
given them as compared to the cap
ital stock?
A. No rule; but the amount is
never anywhere near the capital
stock, at least very seldom so.
(NOTE-The Marine National
Bank of .Ashtabula of which, McKin-
non is president and who with his
family and Deputy Green, own a con.
trolling interest, capitalized at $780,.
600, at one time had 100000 state
funds on deposit.)
"None OF, Your Business"
: When Mr.. McKinnon was ques.
toned as to- what banks had been
given deposits that he was interested
in as stockholder, he disputed the
right of the committee to inquire into
that matter.
Senator Patterson, Republican mem
ber of the committee, contended that
there was nothing to prevent Mr.. Nc
KinnOn as treasurer loaning to bank
of which he was 4 stoclholder.
Senator Howe; II that is true,
there is no impropriety to have the
information given.
Mr.. McKinnon; do not know
what interest is 1t of yours. l do not
80 prying Into yeur affairs.
q. II were treasurer would
think It would be proper. Don't you
think II is the business OF the state
70 know whether you are a stock