The Beaver herald. [volume] (Beaver, O.T. [Okla.]) 1895-1923, 1919-04-24
SINKING FUNDS SHOULD
BE TUT INTO BIG LOAN
Legislature Makes II Possible To In
vest County. City and Town
Money So


All treasurers in Oklahoma of coun-
ty. city. town, township and school
district funds are urgently requested
by the state committee to invest all
the funds possible under their con-
troll in Victory bonds. This is the
first opportunity which these offic-
ers have had to render a patriotic
service in this manner as the status
of Oklahoma through an oversight
on the part of the previous legisla-
ture failed to specify that sinking
funds may be invested in United
States bonds. the best securities In
the world. This defect. however. was
remedied by the recent Legislature
and the following opinion was fur
nished to the Victory Loan Commit
tee by Attorney General S. p. Free
ling, who suggests to the holders OF
sinking funds the advisability OF in
vestments in these bonds:
"The Revised Laws. 1910, permit
ted the officers having charge OF any
sinking funds OF the State, or any
County, town, township, school dis
trict. or other municipality thereof, to
invest such sinking funds in bonds or
warrants of the State. or any county.
city. town. township. school district
or other municipality. United States
bonds were not named among the Sc
curities for which time sinking funds
could be invested. The recent Legis-
lature, however. in House Bill 30S,
amended the former law by permit
ting the treasurer having charge of
any sinking fund of the State or of
any county, city, town, township.
school district, or other municipality
thereof, to invest such sinking funds
in United States Bonds.
at was provided in the law re-
Gently enacted that none OF such Sc
curities should be purchased for more
than par and accrued interest. This
law. carrying the emergency, was ap-
proved by Governor Robertson on
the Goth day of March, 1919, and is
now lawful for any officer having
charge of any sinking funds of the
State or of any county, city, town,
township. school district or any other
municipality to invest such sinking
funds in bonds of the United States.
''In view of the fact that these
bonds are the safest and best secur-
tiles in the world, feel that every
| treasurer having charge of such
funds would be rendering a real SER
vice to his district or municipality by
investing in them"
Early last week reports were re-
| ceived by the state committee that
several counties had gone "over the
top" in the big loan drive. No coun-
ty, however. will he officially rec
ognized as having subscribed its quota
until official reports are received
from the banks. Bankers are there
fore urged to rush these statements
to Headquarters Immediately on re-
ceipt. Lincoln county was the first to
report unofiicially that it had gone
"over". On the publication of this
story. Kingfisher reported that their
county had been lover" several
days but the information was be-
ing withheld until Volunteer Day
other counties gave like assurances.
the object being not to cease their ef-
forts until the entire state of Okla
homa has reached its quota. A
nurhber of counties are yet
belind but II is hoped by the state
of4e that every county will
be shown white on Oklahoma's map
before the end OF this week.