Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1936-01-09
COUNTY GOES ON
CASH BASIS With
BIG WARRANT CALL
Call Is Issued Tomorrow For
Warrants From All
But One Fund

Sheridan county officials threw
away red ink and red ink pens this
week and made it known to the public
that all outstanding registered county
fund warrants with the exception of
the road fund will be called in for
payment tomorrow. 1t will be the first
time in seven years that Sheridan
county has been able to boast of near
ly a clean record as far as registered
warrants are concerned.
The Road fund, however, is close
to being on a cash basis. Warrants
issued on that fund will be called up
to and including No. 1854 issued in
September, 1895.
Sheridan county is in better inan-
cial condition than it has been in for
many years. November tax payments
of nearly half a million dollars made
the big warrant call possible.
Eleven school districts in the county
will call in all outstanding warrants.
Investors this week dug deep into
safety deposit boxes and private
vaults and brought out warrants, al
most musty, that have been drawing
interest and which ceases to accrue
after Jan. 10, the date designated by
the county treasurer for payment.
County warrants have been regard
ed as a safe investment and many who
had the means to purchase them were
able to buy them at substantial dis
counts and together with the six per-
cent interest they brought possessors,
interest at it's best was realized.
Registered Warrants a Hardship
Registered warrants in many in
stances worked a hardship. County
employees were forced to take dis
counts that cut big slices from their
salaries. Business houses who got
warrants sacrificed profits in many in
stances because of the high discount
rate demanded in order to get some
one to buy them.
Warrants from some school districts
were hard TO peddle at even name
your own discount tactics. School
teachers are known to have sacrificed
as high as 20 percent of their pay in
order to get cash for their warrants.
Many business houses, who were
able, accepted warrants at small dis
counts and sometimes at par when
used for purchasing. Merchants in
turn peddled the registered slips to
wholesale houses. For more than four
years warrants were a popular me-
dunn of exchange in this section.
Sheridan county residents turned
out to be good barterers. Some made
good money in the whirlwind of Shy
locking and others took lickings. The
shrewd ones sacrificed but little =
bought merchandise on a credit basis
and then presented warrants in pay
, ment instead of cash. Those having
the warrants to barter were always
careful to see that their charge ac-
, count was big enough to cinch up the
, deal. The warrants were most, gen.
orally taken by the merchants wheth-
/, err they liked it or not. Legitimate
business but a little high pressure. If
the warrants were not accepted by
, merchants creditors had a good ex-
, cuse for not paying their bills.
With better conditions and a shrewd
and economical county administration
, the financial condition of the county
improved rapidly. Banks in the coun-
: ty have been taking general fund
warrants for some time at par. Other
warrants the past IS months have
been bought for as low as three per-
cent discount.