Daily Arizona silver belt., 1908-10-10
w1LLIAMsoN's STATEMENT

WILLIAMSON STATEMENT
The Revised Statutes of Arizona,
1901, amended in 1905, provide in Par
agraph 377O, Section Z, Chapter So, page
lO9, That the county treasurer with the
consent of the board of supervisors of
the county, in the case of county mon
sys, may appoint and designate any
Territory of Arizona doing business
under the laws thereof, or under the
laws of the United States, and having
A paid up capital of not less than the
sum of 100000 to be a Gepositary
Of county moneys on complying with
the provisions of this Title. Paragraph
3773 of same provides. The bond re.
CURED by this Title shall be approved
in the ease of county Moneys, by the
county treasurer and the hoard of sup
ervisors of the county de.oositing such
moneys, who shall at the time of ap-
proving the same certify in writing
thereon that they have made diligent
personal investigation as to the sufiici-
ency of the sureties thereon, and are
satisfied that such bond is amply suf-
fcient to protect the interests of the
territory, in the case of territorial mon
eys. and of the county, in the case of
county moneys. PROVIDED, THAT
NO TREASURER SHALL DEPOSIT
AN AMOUNT OF PUBLIC MONEY
IN ANY DESIGNATED BANK IN
EXCESS OF THE BOND GIVEN BY
SAID BANK"
Paragraph 3777, same, Each bank re-
:eiving on deposit public moneys under
the provisions of this Title shall pay
interest thereon to the county, in the
ease of county moneys, at the rate of
not less than one per cent per annum,
which interest shall be calculated on
daily balance and credited monthly"
Contrary to the above laws my pre-.
decessOr had in banks December 81,
1905, 1923, 1877; December 81, 1906,
s96,399.43, and an average monthly dc.
post of s67,93O.SO during his term.
Without any bond or security or
without the county receiving one cent
Of interest from these banks. During
bis term 617 county warrants were
'eedlessly stamped "unpaid for want
Of cash" and thus made to bear I per
cent interest from the county until
paid. These 6l7 warrants amounted to
SS,57l.46 and were customarily dis.
counted ten per cent or probable loss
hn - 4
The county did pay interest
thereon amounting to-. .... l,577.4s
needless loss to the people
and county of $7,4l4.62
IN warrants alone.
Tn assuming the treasurer s office /
ADVISED all banks that the laws govern.
ing county deposits and interest thereon
would be observed, and that all banks
Wishing vounty deposits must comply
herewith. Consequently in the begin
A1ng of my term | had $25,000.00 gov
eminent bonds and s65, 100000 approved
surety bonds covering money deposits
as well as an agreement from all the
Oanks depositing bonds to pay per
cent per annum on all county money
deposited dating back to the first day
" my term. Sept. 30th last, my cash
balance was $l7,792.sl, the bonds in my
ale covering same amounting to ST.
''o, all gilt edge.
When financial troubles came last
!ear and banks went on a scrip basis,
every bank in town had failed the
'Ounty would not have suffered any
"'s as | held securities almost double
Tue amount of deposits.
One bank holding $21, "a in coun.
y iunds failed; covering that depos.
held for the county 100000 Globe
moo Saool bonds just as good as gold coin
WI sad bank reopened.
IN October of last year, during the
ara times, l went to the various banks
GIobe and advised them that tax
1oney was beginning to come in, that
ICY already had deposits to nearly the
"u'it Of their bonds, that / expected to
"n have from $5O,00O.O0 to $75,O00.00
- excess of the deposit allowed by
scr bonds and requested them to get
u more bonds.
,o. N short time / was carrying around
,'O'vVO0O, as / had no safe, and / went
'ne Globe banks again with the same
o.. tt'cment and request, BY December
was carrying around on my per
~ ana taking home nights $75,000.00
''n | had sworn to keep it in my per