Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1928-10-25

OF lists were signed both by the Off
cer of the bank and also myself as
County Treasurer. The banks re-
tanned one list and l the other and
that was filed with the bonds In the
pcuches of each bank and kept III the
round safe. The reason came to
have so many thousands OF dollars
Of bonds from the Dooley bank was
the law provides that before deposit
ing with any bank or repositories,
must have securities that will secure
those deposits placed by the county
in the various banks, and for that
reason in order for a bank to secure
deposits, they must put up some KIND
of collateral for security to secure
money which | had turned e to
these various banks. The bonds were
the property of the bank. The var
,ous amounts | had deposited with the
bank and the collateral which | re-
ceived, was approved by the Board OF
County Commissioners.
The total face value of the bonds
of the Citizens State Bank of Dooley
which | had up as collateal was S1b,-
10000. The actual value of those
bonds on the 30th day Of November
1926Imarket value of the bonds on
that day was ~$16,781.10, which in
Guides accrued interest and premium.
In addition to these bondsl had Sc
curity from the Security State Bank
of Outlook, Montana, consisting OF
bonds of a face value of $~10,O00.0O.
The reasonable market value of
those bonds at Plentywood on the 30th
day of November 1926 was S~10,456.26,
which includes interest and premium.
The Farmers & Merchants State
Bank of Plentywood also had bonds
up as security of a total face value
of 5000. 90, the market value OF
which on the 30th day of November
1926 was $5,158.35. In addition to
the securities deposited by these
three banks, | had twenty bonds that
were the property of Sheridan county,
Montana. They were Sheridan Coun-
ty Montana, funding bonds, of the
face value of $40, 100000. Their mark
ct value on November Both, 1926, was
the sum of $22,192.20. That did not
include the 100000 Liberty Bond to
which | referred.
Relative to that Liberty Bond, that
was a bond placed in my possession
as collateral by the Farmers & Mer-
chants State Bank of Plentywood,
bearing Al &c, expiring in 1912, and
was in addition to the $4,000 worth OF
bonds regarding which | just testi-
fled. The market value of that Lib
erty Bond on the Both of November,
1926, with accrued interest was S51l.82
There were also some school bonds
stolen. The proof of loss shows cor
fcCtly tne oSlooi Doiiuo 1hoe ">A~
stolen. The total face value of the
school warrants stolen was $~1,O67.71.
They were worth with accrued inter-
est on November both, 1926, $1,114.03.
From the records available at the
time I made out the proof OF loss,
was able to determine accurately the
amount of money and cash which was
stolen from the Treasurer's office on
November 30th, 1926. 1t was $45,-
651.70. will explain to the jury how
it came about | had so much cash on
hand at that particular time. The
bankers were filled as far as their
collateral was concerned. They had
no more room in the banks for de-
posits, so for hat reason any accum-
lation of cash in the office were kept
in the safe I'VE and above what the
banks were qualified to receive in
deposits. | had not been authorized
by the County Commissioners to de-
post any public money IN any bank
outside of the county.
l stated that different representa-.
tives of the National Surety Com
pany were at Plentywood for some
time Immediately after the robbery
making examinations of the records
of NJ office and various officers in
Sheridan County, and there was no
statement made to me by any officer
of the National Surety Company dur
ng any of that period of time that the
policies Of insurance concerning which
testified to were invalid or were not
enforced. The first time l had any
intimation that the policies had been
cancelled or were to be cancelled was
about the 23rd or Oath day Of Deem
Der, 1926. This information came to
me by a registered notice from the Ma
tional Surety Company of New York
Cross Examination by Mr.. Hurd:
The vault in which these two safes
were kept wasn't very wide. | should
judge about six feet wide; might have
boon more or lass I think If would he