The Vinita daily chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1902-1913, 1911-02-10

| The article in Thursdays Chieftain
relative to the disposition of the coun-
ty funds by the commissioners, at
their session Wednesday, was the in
spiration of much praise on the part
of other county officers and business
men and was the cause of adverse
criticism by the First National bank,
of this city, which felt agrieved at
the intimation that the Craig county
taxpayers had been handed a lemon.
In order to be perfectly fair to all
concerned the Chieftain herewith pub
fishes in full the bids submitted by
the six allied banks and the Interna-
tional Bank & Trust company.
After careful consideration of
both bids and inquiry of the county
treasurer as to the amount of county
money likely to draw four per cent
under the bid of the six allied bands,
the writer is convinced that if Com
missioners Sims and Costly can figure
that the bid of the allied banks is
the better bid, they can simply
out figure the county clerk, the county
treasurer and the representative of
the Chieftain.
The charge was made this morning
that the Chieftain is prejudiced to the
state bank. To that charge the Chief
tain's only answer is that it tries to
serve the people Of Craig county, as
it sees its duty. The only thing that
can be deduced from the two bids
above is that in the case of the allied
banks the county gets three per cent
on daily balances, and the banks may
pay whatever they choose for warrants
for current expenses. In the case of
the International Bank & Trust COM
pany, the county would receive three
per cent on daily balances and have
a guarantee that all current expense
warrants would be cashed at par.
officers of the First National bank
say that is not the case. Then the
Chieftain has erred. But what does
the county treasurer say? When in
terviewed this afternoon Colonel Flick
lin said the Chieftains contention that
the bid of the International Bank &
Trust company was the better bid is
correct in every detail. The objection
raised by the First National was that
the Chieftain made no reference to
the one per cent extra, which the al
lied banks agreed to pay on all de-
posits remaining in the bank six
months This was the joker in the
bid. The county treasurer states that
the only county funds that would re-
main in the bank six months was the
interest on the bonded Indebtedness
which must remain in the hands of
the treasurer from January to July.
The interest on this amount he said
would not exceed $25 or $50. So that
instead of getting current warrants
paid at par the county will receive
probably $50 additional interest and
the receivers of warrants will have to
continue to sell their warrants for
what they can Colonel Ficklin also
said that he now had about $4,000 of
the sinking fund invested in school
bonds and that before the end of this
month would invest about $4,000 more,
which instead of four per cent will
draw five and six per cent. With
these facts at hand the Chieftain is
utterly unable to see how the county
is bettered by the acceptance by the
commissioners of the bid of the six
banks. If these facts are not correct
the columns of the Chieftain are open
for refutation by the interested banks.
The two bids are as follows;
Bid of Allied Banks.
vinita, Okla, Feb. Z.
Hon. Board of County Commissioners,
Craig County, Oklahoma
We. the undersigned, beg to sub.
NIT the following proposition for hand
ling the funds of Craig county for thS
ensuing two years:
We will pay the county three per
cent on daily balances, interest credit
ed at the end of each month. and an
extra one per cent per annum on all
amounts left six months, interest to be
credited at the end Of each six months
period