Show 5 TAXPAYERS TAMERS BEGIN J TO TAKE NOTICE E. E Gift Gif of a Year to American Party Bank Without Cause RULED BY TOM KEARNS A Kansas ns Cl City Mo 10 Draws S u a u. u Year Yen Interest Ii From oin Funds PUlls I Deposited F 1 d Since It I has been een shown hown that Salt Sal t Lake CI City under Its Is present scheme of or management Is lo losing about 25 I a year by ly falling to draw drw Interest L on the deposited in a favored ored fa I bank hank business men are arc beginning to sit It up an and l take talc notice If H public sentiment sen son can cn bring about a change e which will wl rectify the existing WIon wrongs It It I will wi not bo be long Jong until tho the city is drawing Its Is two per pCr cent Interest The V- V money would virtually go Into the pocket of oC the tho taxpayer 10 v While falling to tako take 3 advantage l of the chance to compel compol the city depository i- i ri tory tor to pay Interest the administration f tion ton plies piles ples on more moro taxation for the i citizen to pa pay Ha Had l an honest effort efort been heen made toward economy econom there j would have hn been boen no raise In the thc tax levy The he additional valuation created z nn an Increase of oC and l by coIl collecting colt col col- t two per cent on the mone money Inthe in Iii inthe f l the bank banI the tho cl city could easl easily have ad added addid lc l as much more 4 v j Jt Reasons mon Apparent The len reasons ons for falling failing to do this nr self evident elf The bank in which the fhe city's money Is deposited ed I Is largely large ruled by Thomas Kearns founder of oC 1 the American party part who whose c worth word WOt Is law Jaw among amon the rank and file fe o of his n organization In Salt Lake His Ills bank commonly known as the Knox Kearns Knox r hank bank handles bandies all nJ of the city's funds The Tho main officers of oC tho the bank are arc on onCI r I CI City Treasurer Swenson's bond It I tv costs the treasurer nothing and It I ma may bring him something who knows know Th The Tho cl city treasurer of Grand RapIds Rap nap Ids itis Mich tells how the collection of oC on el city deposits Is made In his city Ho 10 says as a's I. I Receive O Over Three and ancl a n Half Per Cent g At the present time our deposits I. I OOOO hut but at different are arc 6 vary Iry s seasons of the year car Perhaps would be about an avera average o. o We e re receive ret re- re t 3 per cent on In n dally The treasurer Is released from Crom ref rc- rc f 1 s as soon as the money Is planed placed In tho the depository which th tho charter requires him to do 10 dal dally daily an and l then from Cram his con con- the money pases passes 1 council Is authorized I I The common counci 5 t to advertise d for bids and make contract contract con con- tract for a period of oC three years for forthe r the tho city money The interest from d 11 deposits aside abide from board of or education education tion and cemetery fun funds s goes to the ton ant Joes i sinkIng linking ng fund for Cor the purpose of or helpIng helpIng helping help- help I for the lie retirement retire retire- Ing to create a Will fund or ment meat of tho he city Cly bon bonds bonds- s The fun funds s mentioned receive recel o their Interest for their mentone own use The collection of oC In Interest Interest In- In terest Is provided for fOl In our city chalI char char- I ter I lEns Has on un Deposit I Cf City Treasurer A A. E. E Holmes of or KanGas Kansas Kan Kan- Gas sas City Mo adds interesting Information His city has nation mation on the tho subject I on depo deposit t in cl city banks lanks banks I It I collects two per cent on dal dally daily balances bal hal ances Tho rc responsibility o of the tho treasurer treasurer treas treas- uror c ceases a when the mone money Is deposited de tIe- 1 posited In tho the banks s Mr H s a rL The city charter requires the treasur treasurer treas treas- teas teas- r ur r t to deposit lt dally daily daly and the money p I d deposited can cn only be withdrawn by hy o ordinance and warrants warrant which are arc signed by the auditor and countersigned countersigned counter counter- 51 signed by y the comptroller after they have lave been passed pasel b by tho the council counci and anti signed by ly the mayor contract to The money Is let Jet by three thre banks equally divided These TheseL L three banks after being chosen chason are arc required t to- to furnish bond for fOIl fol double I the amount of oC average deposits This bond is pa passed c on l by the mayor maor an and andi council i city dU counci |