The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1909-01-15
COURT
FUNDS ITS DEBT
ACCEPTS PROPOSITION FROM CHI.
cAGo FIRM FOR COMMITS
SION or $500.
SUPT. GRAHAM IS REELECTED
Road Commissioned, Notariss Public
And Work House Commissioners
Are Also Chosen.

9 " court MONDAY morning accepted
q proposition from Chicago firm to taxi
D the county's four per cent bonds to th'
! amount of $4,000 if they were al
; lowed commission of $4,000 to covel
} attorneys fees and other costs. This
, iisposes of the much-mooted bond
! question and insures a big interest
saving to the people Of the county.
, Elections took up large part of the
morning session of the court follow
ing the adoption of the State wide
prohibition resolutions. Hon. John p.
Graham, was reelected County Super
.atendent; the present Board of Turn
} pike superintendent, L. H. Fitzger-
and L. s. Lamar and James Gregory
were reelected and the following dis
trict Road Commissioners were elect
ed: First district, e. N. Woodland;
Second district, C. NJ. Frazier; Third
district, f. L. Levitt; Fourth district,
liz. e. Hight; Fifth district, j. H. Nc
Ribbon: Sixth district, Jno. c. Nelson;
Seventh district, S. J. Bingham;
Eighth district, H. S. Armstrong;
Ninth district, John Humphrey; Tenth
district, Henderson Akin.
There was no contest except in the
! Seventh district, where John Wesley
King and S. j. Bingham were nomi-
mated The latter was elected IL to 9.
For County Road Commissioner, T.
H. Taylor and T. G. Hughes were nom
mated. Taylor was elected by IL to
8.
The salary of the County Superin-
tendent of Public instruction was fixed
at $1,000, just what it is now.
The following Notaries Public were
elected P. S, Chandler, C. S. Nc
Alpin, ]. s. Coffee, R. E. Haynes, j. J.
Elan, j. H. Courtney VIM. Chafin
and w. c. Whitthorne.
Resignation of Constable A. B.
Davis of the Tenth district, was &C
cepted and Irvine Dale was elected to
the vacancy.
County Surveyor Woods nominated
w. r. M. McKissack and James Fitz-
gerald as Deputy Surveyors and they
were elected.
The Bond Question.
Cashier J. F. Brownlow of the Farm
ers & Merchants Bank, addressed the
Court on the subject of the bond issue
and submitted proposition from
Chicago firm.
Mr. Brownlow said his bank did not
expect to make a penny out Of the
matter and did not want to. That the
banks were simply acting as citizens
in the interest of the county.
Mr.. Brownlow submitted a PROPOSE
ton from Mcdonald, Mccoy & Co. to
take bonds at $4,000 or par provided
thew were allowed $4,000 to cover fees,
printing bonds and other expenses.
Mr.. Brownlow urged the issuance
of the bonds on the ground that coun-
ty warrants formerly sold at dis
count of so and unless the credit of
the county is maintained same state of
affairs may result County is in debt
and is borrowing money now from
banks. The banks have all they can
do to carry their individual customers.
That the county war~"~t -" good,
but unless the holders can set the
ready money on them when they want |
them they will fall below par. The
only woy TO get money on county war
rants now is by floating them among
individuals, the banks can not handle
them in large quantities now.
The county should be bonded first
because it would save 178-100% In
interest to the county. 1t will pre-
serve the county's credit and will turn
$4,000 loose in the county, which is
much needed in local business circles.
The issuance of bonds would hurt
nothing. That 1t is better to owe one
man or one company $4,000 than to
owe Its men $1,000 each.
Mr.. Brownlow stated that 1t was
difficult to sell 40 bonds, and the
county would scarcely be able to sell 7
the bonds at 49o par.
Judge Gordon read letter from
Mason, Lewis & Co. Offering par, but
asking a commission Of $500 for
attorneys fees.
Judge Gordon said the Mcdonald,
Mccoy & Co. bid was the best the
county had ever had being less than
SO. Judge Gordon stated that he APP
preciated the stand taken by certain
members of the Court to increase tax
es and pay the debt but that he had
never known taxes, once raised, to be
lowered
j. w G. Church moved that the Chi
,ago proposition be accepted.
a