The Montgomery advertiser., 1909-05-09
ASKS WHITING
 TO EXPLAIN Interest Offered on County Funds. PROPOSITION WAS DECLINED County Treasurer Will Discuss
 Matter on Tuesday. Announcement That Ranking Arrange me~ts Had Been Made Several Months Ago. and should be
 Carried Out.

County Treasurer w. B. Whiting, by resolution adopted at the meeting of the County Board of Revenue held yes- terday, has been requested to appear before the Board on Tuesday next to show cause why the county shall not realize the benefit of the 3 per cent. offer made to the Board by the New Farley National Bank for handling. the county's funds.
 Bond matters occupied the greater portion of the attention of the Board at its regular session yesterday. and there was much discussion indulRed in. and much correspondence read, from the Farley National Bank with refer- ence to the refusal of the County Treasurer to accept the offer of the bank.
 The communication from the New Farley Bank, as read to the Board, showed that an offer of 8 per cent in- terest upon average balances of the county funds on deposit, together with the same rate of interest upon all monies held over on the bond issue, had been made to the County Treasurer and that the official had refused the offer, saying banking arrangements had already been made.
 Extracts from the correspondence which had been exchanged between the County Treasurer and the officials of the bank, were read to, the Board by the County Attorney. The original of fer of the bank was first read to the members. and Mir. Writings reply fol- lowed. Tn this reply Mir. Whiting is quoted as saying that he had been Treasurer of the county's funds for some months. and that at the time of taking hold of his office, had been com pelled to make certain banking ar arrangements for the safe-keeping of the county's funds. Further that he felt in honor bound to keep faith with those with whom he had made his banking arrangements Furthermore the letter of MT. Whiting stated that he knew of no law by which the Treasurer of county Is allowed to receive bids for interest on the county's deposits, and that such arrangement as the bank suE- Eested might cause Embarrassment to the county In the future.
 In reply to this letter the bank stated that 1t was ready to furnish a depositary bond for all moneys depos- ited by the County Treasurer. as is the case in all other banks. and that their original proposition of giving per cent. interest on average balances for the month was submitted to his con- sideration.
 The Board hv resolution then re- quested the County Treasurer to ap- pear before the boaru on HeAt iuoS- day morning to show why the offer of the bank should not be accepted, and the county be permitted to realize the benefit of the 8 per cent. offer.
 On account of the sicknes of both Probate Judge Gaston and County Treasurer Whiting, the recent bond is- sue of s15O.000 for roads and bridges have, net haan. signed 5ap, and the bond nl,rchasers. the New Farley National Bank, stated through their attorney that they hndl been in position to pay for the bonds since May l. and therefore should not be held responsi- bie for the .accruing interest for the
 County Attorney E. S. Watts called attention to the fact that Judge Cas- toms clerk could sign the bonds, but objection. was made on the grounds that the bonds needed the personal signature, of the Probate Judge, In that