Show POLITICS AND THINGS I Tf If tIme the Tribune means to Insinuate ti I a the tIme Republicans at an aim any time hue l Cit City Treasurer Frank Swen- Swen soil on Ol onith hIm ith wih receiving interest on the city deposited in am I tIme the Kearns Knox ank It I is mer merel l prolonging Us Its Is dan dan- erous of l Ingv Also If Ir the thinks s il it i Is la telling the truth hen it il says ays no hank bank west of Chicago pays ays Interest on dal daily balances It Itis Its I is I. I s 71 taper aper has published r lutters from rome city treasurers at Omaha Nib Nt d b. b Kansas City Mo Io antI and Seattle V Vish ush sh who vho state that they turn Into he time tle tl-a tl urles of their respective cities cites PL-I PL lI cent Inter Interest t on 01 dal dally daily balances I he lime being paid U Id l by the tn tary nry banks on h ho hm the they hold holl In for fO the time cl city A casual glance glanco iL u t thi- thi 11 map will wi sow show that these thee three cities are west cst of Chicago by ly at least Lu L' small niall mal margin and time they thoy aro are b by no means the time only cities s In iii the West cst that thai are re deriving Interest from city funds tint But this timis paper has charged and has ba 01 me kid ld the charge chargo with wih the tIme presenta- presenta lon ton of facts fact obtained at al the city treas- treas tin rj it office that Salt sl Lake Lale City Is sing in from to an- an through time the failure of oC tho time elt city Ity to collect Interest on 01 city de the- posits If I Frank Frnk Swenson Is getting au ammy ny nf ut lit tho hanks banks profit th that t Is a amater mater e between n him and anti the time bank ban Ie and a n matter mater In which the law is Interested The fhe Tribune Jumps to the conclusion that tho the cly city treasurer has hascen been cen charged with wih receiving Interest and putting It I in hl his pocket anti and this has las brought out an explanation that wa vas ribbed up In the of tho the cl city treasurer It I does not explain It I shows time the straits In which the tho treasurer has been leen thrown It I Is too good to keep cep so here go goes s Prank Frank Swenson Is not receiving In interest In- In terest erest upon or IJO or 0 or upon Ullon any of the time city's funds funds In this his connection It I might be said ld that mm 10 no bank west ivest of Chicago o pays Interest upon do dally daily I balances But to the tIme main question queston The Time cash casim received by tho city cl treasurer Is divided Into six funds They hey are Bond Special General Public library ater Water rates General Water meters None of or the time monies In either of oC these funds can be e used to pay the time demands the time other Ulon In other words you ou cannot rob Peter to pa pay imay Paul The general tun fund Is the time only Cun fund that Is Js available for all ni purposes purposes The rhe bon bond fund und cannot be used usel for Cor any other purpose purpose pur pur- pose than that for Cor or which the bonds were mere Issued In lii this Instance It Is the special timid fund voted b by the taxpayers COla foma for COl a special specht purpose Tho ho special fund consists larf largely Cr ply ly of money paid In funt for or sidewalk purposes the public library as also aso water rates an and water meters speak for Cor or themselves It I Is IH ther therefore rore Plain to be seen that even eyen had the time city treasurer JS on hand that warrants war war- cl run rants ts Issued could on only be bo paid from Crom I. I pall the he fund upon Ulon which It I was isas drawn Therefore warrants Issued upon general gel fund Cund would probably go unpaid and be Lie hawked hawke about the time streets SO an and the holler would have havo to dispose of or them at a n discount and time the credit of or the time city be ll v Impaired To 10 obviate late this the banks cl do what The present city treasurer lever ne er draws a check upon tho tIme hank bank to pa pay claims against the time cl city the he treasurer auditor Issues a warrant and tho th- hum redeems the time warrant when ho has funds available Under the thu present present pres pres- pres- pres ent system this warrant Is he aa ns goo good as cash and amid when prom Presented at nt nn bank any It I Is paid regardless of oC the time fund drawn upon and Is cleared time the next lay hay eu on tim th bank whore where wh rc the treasurer keeps his hIs' accounts What hat Is 18 the result Tho TImo Tho cJ city floats Coats Ita I. I cre credit lt for Cor rosul half hair million dollars without the oula outlay of or a penny nn To Illustrate In other words of or the I. I OIO said to be bl on depo deposit lt there thero had hac been warrants Issued upon the several funds Curls nn and paid pId ald and amid carried by the hankI hank I I 1 J X rim This Is would woul 1 leave ve tOJ Now No ow iv If r Treasurer was paid pall upon this sum two per cent remit would bethe be bt the time maximum which would amount to 0 per annum If It I this were wore done the time bank would have to charge interest upon time the mone money advanced aL which at nt tho time minimum would woul be he six per cent nn and which would wull amount to 27 per an an- an- an num Hula 01 OJ a loaa to the time people e of oC JO hence leotI I hI I of uC I the lie IU tIie tl they muri n may nj Of or all al the tIme that has haR been given space In the Lime columns o of the time Kearns organ this Is the candidate for or first prize On Aug 1 there was wa deposited In tho time Bank of the time Republic nn aim institution In iii which like th the Tribune and ant th time tho American city a administration Tom Kearns Is heavily Sometimes Some Some- times lines il It I is more than this Tho Time bank hank hanki i has the lie sole use ue of oC this mone money It Is In iii the time bank lank and at no imo time 1 Is I there an overdraft o over o er and amid above th time the gross amount on deposit There ma maat may at tm times lines s l be a n slight overdraft In Iii on one fund which Is readily offset by ly th time the amount on hand hani in another There Ther has been an overdraft In iii tho ho gonCa genera fund amounting to due to th time the prodigality of oC the present ion during tho the first few months of II Its career W. W Mont Ferry Forry chairman o othe of the time finance committee of the tIme cit cl city council counci months ago that lint th time the city treasurer was either paying Inter Inter- cst esl on the time overdraft o or 0 was wa preparIng lag Ing to This statement caused Ins a zen sen ston among the time frenzied financiers o othe of oC time the city government go and the treas- treas miner was ivas called cled on omm the time carpet long enough to loll den deny the allegation Th Time he scheme had been nipped In the bud lud How other othor cities can cnn mal make e from fron to h 1 by collecting 2 po percent per percent cent Interest on lal dally daily balances Salt IaH Lake Is making a similar amount amoun l by railing falling to collect interest Is s a 1 now no no puzzle The Time Tribune has pOp popped l th the conundrum m and will ivill wi have to olve I. I It But lint to get at the time root of or tha the proposition there thele are alc several sever banks In Iii Salt 11 Lake which would b be le willing to accept city deposits and cl nl pa pay ny 2 per pel cent Interest on dally daly balance If H there thole Is an overdraft In one fund funi Ull while there Is a balance In mother t tn ru offset It these f. f latter day lay later money JU jugglers jug jug- aver the time bank hank would not miot think thin of oC collecting interest Why should no Hot hAt time the sm same rule apply when the time hanks hank are paying 2 per cent cont If I nil all Il th the lie money Is gone from froam the time general fund the tho ban hank bank makes malies n a slight advance to lo tide tte over a certain period at af the time same sain time drawing the time interest profits from mother another and much larger fund tumid I I S Miss rss Dnn wn WH ln i nn n I pier looking s seaward n at ata a line of r f s k across a a portion porton of or uncertain 1 sky In Ina Inn ina a n Herald cartoon yesterday when th time elusive e Mr Bryan Iyan slipped by ly unno unno- Iced under red ink headlines and col col- after column of type typo The carl crl- was wa time the first Intimation th the public has imas had haul that Democracy didn't rea really I see him coming after nil all ni S S The threatened revolt among northern northern north north- I ern ein Idaho Republicans did not amoun to as much as time the press pres wanted It I to S S count county Republicans arc are pro pre paring to hold their count county conven lion lon at Vernal Vernal The rime opening of oC the th Indian r reservation has cut Into the citizenship of or the community and the time theor or organization of the party In the lie county count has haR been leen affected by changes of or resl resl- donee However er the time G. G O. O P P. In m tah I ls is warming warming up and amid there will wi be le somethIng doing nil all ni along alonS tho time line S S S SIt It J Is 11 a very common lo to toay cm ay say that a n man who committed sui sul- chic cide blew out his imis brains Ho lie ma may have fired fred a l bullet clear through hl his head lead but hut that thai does not signify that lie he 10 blew llew out an any brains I IThe Th The Deseret News announced the tho candidacy of William 1 lam H. H King ICing KinA for county attorney Wednesday nl night hl Tho Time announcement ment was wrong because W Vm II H. I. I Wilkins was time the person whoso name time thc News Intended to present n fly a later ater confession the tho the New New- lays Jars the time Elaine blame upon the tho usual scapegoat th linotype man maim Without tei the time erroneous erroneous- announcement the Tribune picked up the he name of oC W. W II I K lS and flayed the Mormon church hurch for placing a Mormon In tho time field fed on the J Democratic ticket The rime Tribune drevin drew drev on in its Is rabid Imagination and amid painted a vivid picture of or church interference In iii n politics Mr King Is In Jn New York and ani Is out ont of or politics it I Is a t typical of or the Tribunes Tribune's foundation tion ton for 01 a story Burl Durl Armstrong |