The herald and news. [volume] (Newberry S.C.) 1903-1937, 1913-09-02
The STATE LOAN
IS FINALLY SETTLED
$500. 900 BORROWED FROM PAL
NETTO NATIONAL BANK.
Governor Signs Notes Already Bear
ing Signatures of State Treasur-
er and Comptroller General

notes aggregating 100000, which
had been previously signed by Comp
,ller General Jones and State
Treasurer Carter, and the State
treasury is again in funds with mon
ey aplenty to meet the running eX-
penses of the State government until
taxes come in on the first of the year.
The loan was awarded to the Pal
metto National bank, Of this city.
There are five notes, each bearing
5 per cent interest, from the follow
ing dates:
One hundred thousand dollars with
interest, from September 1; 100000
with interest, from September 10;
$4,000 with interest, from October
/: $4,000 with interest, from Octo-
Der Is; $4,000 with interest, from
November l.
Bids were submitted at the meeting
of the financial board on Friday, at
which only Treasurer Carter and
COMPTROLLER General Jones were
present. The Palmetto bank made
the best offer from an interest stand
point and the bid was awarded to
them. The notes, signed by Treasur-
er Carter and Comptroller General
Jones. were carried to Governor
Blease by Mr. Matthews, the cashier
of the Palmetto bank, and he affixed
his signature.
Governor Blease was given the fol-
lowing receipt for the notes by the
Palmetto bank, and the governor also
made public> today the following let
ter he addressed to Cashier Matthews
covering the matter:
Receipt for Notes.
August 80, 1913.
Received of. Cole. L. Blease, Gov
ernor of the State of South Caro-
lima, the following notes, aggregating
the sum of three hundred thousand
(s3O0,0OO) dollars, said notes payable
to the order of ]. P. Matthews, signed
by Cole. L. Blease, governor; S. T.
Carter, State treasurer, and A W.
Jones, comptroller general.
''Note dated August 29, 1913, due
January 10, 1914, for s5O,OOO, with
interest from September l, 1913, at
3 per cent.
'sNot dated August 29, 1913, due
January 10, 1914, for $4,000 with in
terest from September Is, 1913, at
5 per cent.
sNote dated August 20, 1913, due
January 10, 1914, for $4,000, with
interest from October i, 1913, at 5
per cent.
"Note dated August 20, 1918, due
January Is, 1914, for $4,000 with
interest from October Is, 1913, at
8 per cent.
ssNote dated August 29, 1913, due
January 15, 1914, for $4,000, with
interest from November 1, 1913, at
5 per cent.
"The amount of the notes will be
placed to the credit of the State, gen
eral account, at once, subject to
check.
"The above notes so received were
made payable to the order of ]. P,
Matthews by direction of this bank.
willie Jones,
<'President Palmetto National Bank.
"J. P. Matthews,
cashier Palmetto National Bank"
Letter to Cashier.
Governor Blease wrote as follows
to ]. P. Matthews, cashier Palm
National, bank:
''I herewith return to you the fol-
lowing notes, which 1 received this
afternoon:
"Note dated August 20, 1913, due
January ), 1914, Tor SlOO,OOO, WIFI
interest from September l, 1913, at
5 per cent.
"Note dated August 90, 1913, due
January 10, 1914, for $4,000, with
interest from September Is, 1913, at
5 per cent.
"Note dated August 80, 1913, due
January 10, 1914, for s5o,OoO, with
interest from October 1, 1913, at 5
per cent.
"Note dated August 80, 1913, due
January Is, 1914, for s5O,OOO, with
interest from October Is, 1913, at 5
per cent.
"Note dated, August 29, 1913, due
January Is, 1914, for $4,000, with in
terest from November 1, 1913, at 5
per cent.