The Lexington dispatch. [volume] (Lexington, South Carolina) 1870-1917, 1913-09-24
Presentment of Grand Jury.

a cOmmlGtee IFOm ouI UCuy uos ALI
spected and investigated the condi-
eion of our county poor house and
farm, and report to Us that the water
works on said farm should be supplied
with tank or reservoir, as the prem
dses are already supplied with gasoline
engine and pump for the purpose of
furnishing water but has do tank or
reservoir for such purposes. We rec
ommend that the county board of COM
missioners provide an adequate water
tank for the usese of the poor house
and farm. We also find that there is
no insurance on the buildings of the
county poor house and farm, and we
recommend that the Supervisor have
the buildings insured at once.
We have also inspected the county
Iail and find that there are some re-
pairs needed in connection with the
water system and we ask that the
Super, isor have the necessary repairs
furnished at once.
A committee composed Of K. l.. Ly-
brand, E. ". Shull and I. Edwards
have examined, or caused to be ex-
ar1ined, all Of the county Offices ard
the books and records belonging to
each Office OF the county covering q
period Of four years, beginning Juiy
the ls5. 1909, and ending June the
30th, 1918, and respectfully submit the
following report:
We have prerared from the county
books and records eleven exhibits.
designated CA o"K' inclusive, and
thirteen schedules, numbered from
one to thirteen inclusive, together
with statement of the receipts and
disbursements Of the eishty-seven
school districts of the county, all Of
which are attached and made part
of this prcsentment.
Your attention is respectfully direct
ed to the general consolidated balance
sheet of the assets and liabilities of
the county marked Exhibits A."
We have in this exhibit as assets all
of the cash in the several officers
hands, including the sum of S43, ,67.62,
on deposit in the Lexington Savings
Bank, which we understand, is of lit
tie or no value, also the uncollected
taxes now in the hands of the Sheriff,
the accounts receivable, and the prop
serty investments.
We show as liabilities all the &C.
counts and notes payable, including
court and trust funds in hands Of Off
GERS, the outstanding bonds, less sink
ing funds and the balances Of special
funds.
1t will be seen that this exhibit "a"
lis consolidation of the five following
exhibits, "B," 'C," 3D." "E'' and
~s'F," and concise!y presents state
ment of the financial condition of the
county.
The surplus consists of a revenue
surplus of the general funds of $365.1S,
and capital surplus which represents
the difference between the value of
the property investments and the out
standing bonds Of $113,5
There is deficit of $l7, ,307.75 in the
bridge funds, i. e., the liabilities ex-
ceed the assets this amount.
The above figures are arrived at
upon basis of conclusion that the
county will not sustain any loss in
the amount of cash it has on deposit
with the Lexington Savings Bank.
The County Treasurer has $3s, 1859
of the public funds deposited in the
Lexington Sayings Bank and the
CLERK of Court has S5,2O0.75, making
a total of s43,s77e2. This bank was a
private bank, owned by W. P. Roof,
who is now in bankruptcy, and our in-
formation is that claims against this
bankrupt estate will be worth o very
small percen OF the amount on deposit.
We show over IN cash in the hands
of the Clerk of Court the sum of S5,-
460.7 n, that is due, we understand, to
the fact that the Clerk, who had S.
200 IS in the Lexington Savings Bank,
advanced from his own resources this
overage, which may be inferred that
he recognizes his liability for the loss
that will be sustained OF his funds in
the said bank.
There appears to be some compl'ca-
lions surrounding the transaction be-
tween the county officials and the
Lexington Savings Bank. The entire
outstanding county claim amounts to
S13,l8S. % and we understand it is held
py the bankrupt bank, also it holds d
note of the county of s., 10000, making
$40, ,6SS. .2s the county is due said bank.
We also understand that at the time
the bark failed, twas found that these
notes had been hypothecated by said