The Birmingham age-herald., 1908-07-18
STATE TREASURER
 SCORES VICTORY Protest Made on Surety Bonds
 Bears Fruit BANKS GIVE COLLATERAL Mississippi Institutions Are Giving In To Treasurer Relative To State Funds-Preparations Made
 For Encampment.
BANKS GIVE COLLATERAL

Jackson, Miss. July 17.-(Special) J. State Treasurer Edwards is very thor oughly convinced that his protest against the acceptance of surety bonds as col lateral for loans of the states money to banks that have been selected as state depositaries, was sound and that it is bearing the very best of fruit.
 Unfortunately, says the supreme court and thinks Treasurer Edwards, the legis- lature included surety bonds in it's list of securities that may" be given by banks but the treasurer, being convinced that a surety bond is worthless as a means of speedily raising cash when wanted, knowing that no bank would ad- vance money on a surety bond, has con- tended that they should not be accepted by the state as security for such loans
 However, this is matter that is de- cided by the commission named by the gislature-the treasurer, governor and attorney general-and the two last named take the position that as the legislature has said accept surety bonds, the treas urer has nothing to do but obey, and that if the money should be lost because of the acceptance of such security the treasurer cannot be held liable on his bond.
 The position of the treasurer being made known through the press the 53 banks selected by the commission as state depositaries have made arrangements to put up securities other than surety bonds When the bids were first opened every bank so selected as depositary rendered surety bonds as collateral, save six. They have since made arrangements to put up other securities, and the treasurer has all kinds of first-class collateral on hand now state, county, levee and other bonds, all of which have market value, and can be exchanged for the cash over any bank counter in the state.
 At this season of the year there is comparatively little money in the treas ury, some $350,OO0 so that the banks se- lected as state depositaries will not get much now If wanted. but six months from now, at the very time the banks are needing cash to move the cotton crop, the state treasurer will be able to supply 1t.
 MT. Edwards is delighted at the suc- cess of his war on the surety bond as collateral and Is very thankful that the banks are showing a disposition to do what he thinks is right in the premises, and put up other security for the states money.
 Adjutant General Fridge, Maj. Walthall Nall and Captain Walker of Brookhaven leave here tomorrow for Columbus, to assist in the work of preparing for the state encampment of the National Guard, which begins on August 4.
 General Fridge Is delighted to state that the war department has acceded to his request for a battalion of regulars to be sent to Columbus. This is the first time in the history of the Mississippi National Guard that the government has agreed to do this, and General Fridge Is confident that their presence will have great influence the young men com posing the state troops. The regulars will be in camp at Columbus one week.
 The municipal political pot has begun to boil in real earnest, and from now until the close of the primary election polls next Monday night Jackson will be in a turmoil. There are numerous can didates and they are all working like beavers. making a personal appeal to the voters. The two factions, one headed by w. s. Hamilton and the other by A. C.. Crowder, the two opposing candidates for mayor, are lined up close, so that if the head of the ticket goes down it Is very apt to carry the others that are aligned with it.