Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1909-08-13
IME COUNTY IS
| PAYING OFF ITS
INDEBTEDNESS
MONEY THROUGH SALE OF
BONDS HAS BEEN RECEIVED
IN TONOPAH.

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-
ceiyed was $51,25O.
Under the act of the legislature |
permitting Nye county to refund it's
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 July, 1909 consider
able sum was owed by the county.
By the time the many bills are met,
there will be little left of the bond
isstie. Particularly is this the
truth if the notes which were held
by5. the Nye and Ormsby County
bank and turned over by that insti-
tuition to the First National bank of
San Francisco, amounting to some
thing like $4,000, will have to he
taken up.
1Among the debts incurred by the
eeiinty was loan to it by the Ton
opah Banking corporation of ST.
19b.40. This amount was liquidated
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 it's distress. He came to the
front with $5133.35. This money
will also be paid as soon as Mr..
Clifford calls for it, Now, then, 1t
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
which shows deficit Of $3,757.30
in order to meet the Indebtedness
up to July l 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 large sum 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 liquidated with the
money thus received
That Nye and Ormsby County
bank deal is apparently rotten tc
the core. When the county was il
dire distress, it borrowed none!
from the bank, giving as securit.
therefore its note. On the first day
Of. January Recorder Grimes callet
at. the bank with the treasurer
check in an amount sufficient to re
deem the notes. Mr.. Grimes wa
told that the notes had been trans
ferred to Carson for safe keepin,
and that they would be sent for a
once. Time dragged along for
month and no action was taken b.
the Golden institution. On the frs
day of February another deman
! was made for the notes. The sam
/ excuse was made; the notes had no
/, been received from Carson. In tim
\ it was learned that the notes ha
T, been turned over 10 the First Ma
/, tional bank of San Francisco, nc
in the nature of hypothecation, bu
+ bodily and practically beyond tn
+. reach of the county Up to this tim
it is understood that the county hs
/, paid no interest on the notes to til
San Francisco bank, but the latte
!, has called upon the county to r,
I, deem its notes. If this is don
that $4,000 will look like typhoi
!, patient after long siege of sicl
\. ness