Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1909-08-14
NYE COUNTY IS PAYING
OFF ITS INDEBTEDNESS

Nye county is busy paying off its
Indebtedness with the money re-
ceived through the sale of county
bonds to Senator Nixon. AS before
stated, in this paper, the amount re-
ceived was $51,250.
Under the act of the legislature
permitting Nye county to refund its
funded Indebtedness, this county is
authorized to meet the obligations
which had accrued and which will
have accrued against it up to the
first day of Jrly, 1909. A consider
able sun wag owed by the county.
By the time the many bills are met,
there will be little left of the bond
issue. Particularly is this the
truth if the notes which were held
fby the Nye ana Ormsby County
bank and turned over by that insti-
tuition to the First National bank of
San Francisco, amounting to some
thing like $22, 900, will have to he
taken up.
Among the debts incurred by the
county was a loan to it by the Ton
opah Banking corporation of $17,-
195.40. This amount was l~iquidated
Wednesday. The First National
bank of this city also loaned the
county $~10,195.55, which has been
paid. Ed Clifford, Sr., was another
who helped the county out in the
time of its distress. He came to the
front with $5133.35. This money
Will also be paid as soon as Mr..
tClifford calls for it. Now, them it
is understood that the First National
bank of San Francisco has sent
word that it wishes Nye county to
redeem the notes held by it against
the county. These sums added
prove an amount of $55,O07.3 80,
which shows a deficit of $3,75730
in order to meet the Indebtedness
up to July / of this year.
In addition to the above sums.
there is a balance due for the con-
struction Of the county jail and
other incidentals. The Ford trial
has cost the county a large sun OF
money. somewhere between four and
five thousand dollars. With these
debts staring the county in the face,
there is every reason to believe that
the borrowing process will soon be
the order of things.
The expenses attendant upon the
Ford trial of course does not come
out of the money received from the
sale of the bonds, nor can any other
expense incurred after the first day
of July be li~quidated with the
money thus received.
That Nye and Ormsby County
bank deal is apparently rotten to
the ore. When the county was in
dire distress, it borrowed money
from the bank, giving as security
therefore its note. On the first day
of January Recorder Grimes called
at the bank with the t~reasurer's
check in an amount sufficient to re-
deem the notes. Mr.. Grimes was
told that the notes had been trans
ferred to Carson for safe keeping
and that they would be sent for at
once. Time dragged along for a
month and no action was taken by
the Golden institution. On the first
day of February another demand
was made for the notes. The same
excuse was made; the notes had not
been received from Carson. In time
1t was learned that the notes had
been turned over 70 the First Ma
tional bank of San Francisco, noI
in the nature of hypothecation, but
bodily and practically beyond the
reach of the county. Up to this time
1t is understood that the county has
paid no interest on the notes to the
San Francisco bank, but the latter
has called upon the county to re-
deem its notes. If this is done,
that $4,000 will look like a typhoid
patient after a long siege of sick
ness.