OCR Text |
Show I i BIG SHORTAGE SHOWN Summit Coi.nty, O., Has Deficit of Quarter Quar-ter Million. u AKRON. 0-, Aug. 3. Examiners Poul-Bon Poul-Bon and Raloy filed their report of the l examination of th Summit county treasury with Probate Judge Pardee to- i day. It shows that thcro ia a deficit In j i the treasury of $272,451. "j I Tho examiners say this doflclt was i $SD2,154 at tho tlmo tho examination was J begun, but that since then a large ii ! amount of borrowed money has been ro- turnod. ( The roport says that a largo part of the loans arc unsecured and that a considerable con-siderable part of the securities representing repre-senting loans of the public funds are re- 1 newals of obligations taken by former i treasurers and carried by tho prcsont treasurer, Fred E. Smith. Troasurer ' Smith declaros that tho vault in the ' court-house is unsafe to keop publio funds in and that the costs of his bonds is so high and his salary so low that he "had to loan money to keep ahead. |