The Birmingham age-herald., 1911-05-11
CITY FUNDS WILL
 BE REDEPOS|TED Commission Adopts Pro-
 posed Resolution SESSION VERY SHORT The Resolution Concerning Criminal Court Fees Introduced-Commis-
 sioner Weatherly Will Be
 
SESSION VERY SHORT

At a session yesterday morning lasting only short while the Birmingham com mission adjourned until tomorrow morn ing at Il o'clock. The most interesting development was the adoption of the res olution apportioning the finances of the city and redepositing the money with the associated banks of the city, who recently financed loan to the city of $3OO,Ooo.
 The resolution provoked two small tits between President Exum and Commis- sioner Lane at previous meetings. How ever, yesterday President Exum called up the resolution and upon its passage every commissioner voted for it. The adoption of the resolution means that a large sum of money will be redeposited with the va rious financial institutions here and will | bear interest.
 The expression was made yesterday at the commission meeting that the tilt be- tween President Exum and Commissioner | Lane was not on account of any differ ences of opinion as to the tenor of the | ordinance and now every feature was un- derstood and no feeling existed between the two members of the board.
 The resolution, which is of intense inter est to the bankers of the city and other fellows:
 Deposit Resolution
 Be 1t resolved by the Board of Com missioners of Birmingham, that. "Whereas. there are certain funds of said city, which are bearing no interest, and,
 Whereas, it Is the sense of this board that said funds should bear interest at the rate of per cent per annum, and | Whereas, certain associated banks of the city recently loaned the city $S00.Ooo at reduced rate of interest 6 per cent per annum), thereby saving the city s75o for the term of the loan (three months), and 1t is the sense of this board that said associated banks should have deposits of the city hereinbelow named now bearing no interest, and,
 "Whereas it Is the sense of this board that other banks hereinbelow named hav- ing deposits of the city funds (bearing no interest,", which should bear interest at the rate of per cent per annum, there fore, be 1t
 Resolved, That the following funds now on deposit In the Peoples Savings Bank and Trust company, to-wit: North Birmingham meter deposit fund. ss27.50; sewer bond fund. STA. 10; North Haven improvement fund, s232Ss; West End fire bond fund, s56sOs; West End bridge bond fund. s1,ss34l; Elyton sewer bond fund, | S2. .50951; Pratt City sewer bond fund. s67Se aggregating $So.o59s7 shall be de- posted with said associated banks as fol- lows
 American Trust and Savings bank, s2e0oo.
 Jefferson County Savings bank s26,ooo Traders National bank, s11,3Oo. Merchants and Mechanics Trust and Savings bank, s11,9O0.
 | Commercial State bank, s5, 459ST | Be it further resolved. That said de- posits shall respectively bear interest at the rate of 8 per cent per annum. Be it further resolved. That the gen eral fund, now about s45000, shall be de- posted with the Birmingham Trust and Savings company (by far the largest con-
 tributor to said loan of S30O,0oo), and that | the active account of said city shall, until | otherwise ordered. be kept with said Br-
 mingham Trust and Savings company. the money so deposited to bear interest at the rate of per cent per annum.
 Be 1t further resolved. That the presi- dent of this board be and he is hereby
 authorized and empowered and directed to negotiate with First National bank for | the payment of 3 per cent per annum on
 the city's deposit of s5o,oOo with said bank. now bearing no interest; also with Steiner Brothers for the payment of 8 per cent per annum on the city's deposit of s9.767.23 with said Steiner Brothers, now bearing no interest; also with the Bank of Ensley for the payment of 3 per cent per annum on the citys deposit of sl.Ss37s with said Bank of Ensley (now bearing no interest,", and also for per cent per annum on all future deposits with said Bank of Ensley.' | Comptroller C. H. Abbott, pursuant to l the instructions eff the resolution, will proceed to carry out the mandates of the board as expressed in the resolution. | Criminal Court Matter
 The financial resolution and one to re- quire the comptroller to collect a sum of money due the city from J. c. Bradley. clerk of the criminal court. occupied the time of the short session. Judge Lane in-
 troduced a resolution about the city fees l due from the clerk by saying the su-
 preme court had held that Birmingham was not liable to the counter claim made
 by Clerk Bradley.
 l This move will perhaps precipitate | legal battle between the county and the clerk of the criminal court.
 West End Inspection 1 After the meeting adjourned President | Culpepper Exum and Commissioner Lane l left for West End. where they met a committee of that section. The commis-
 sioners inspected the street work and