Jasper County Democrat, Volume 7, Number 4, Rensselaer, Jasper County, 30 April 1904 — WANTS OFF BOND. [ARTICLE]

WANTS OFF BOND.

H, O. $ J. C. Harris Ask To Be Released From Bond of County Treasurer.

Henry O. and Joseph C. Harris, president and cashier, respectively, of the Rensselaer Bank, tiled a petition in the circuit court Tuesday to be released from the bond of County Treasurer S. R. Nichols. As published in The Democrat last December, it was rumored that Nichols was having trouble in filling a bond; that he could not give either a personal or surety bond, it was alleged, and as a last resort the McCoys, who are said to have nominated and elected him, and whose candidate he was reputed to be all during the campaign, went to the other two banks here, it ie alleged, and got H, O. and J. C. Harris of the Rensselaer Bank, and Addison Parkison and E. L. Hollingsworth of the First National to join with them in going on the bond. In consideration of this, it is said, the county funds were to be deposited in these banks, and Nichols was to be paid per cent; interest on daily balances. Later an agreement is said to have been made between the banks whereby the First National was to be responsible for the funds deposited in its own bank only. This agreement would, possibly, be good as between the banks, but would not be good as between the county and the bondsmen, and whatever amount is lost through the failure of the McCoy bank will, have to be made up by the bondsmen, except what can be gotten out of Nichols, which it is thought will not be a great deal, as his property is heavily mortgaged and his equity therein is said to be small? Nichols has made many conflicting statements regarding the amount of county funds in the McCoy bank. To some, we are told, saying that he had nothing, and stating various sums to others, all the way from $2,000 and $3,000 to SIO,OOO, and now, we are told, he admits to $24,000. Had he given a personal bond of farmers, such as is usually given, or had he given a security company bond, it is thought by most people that practically all the county funds would have been in the McCoy bank, and it would not have gone to the wall for a few months yet. The bond given was for $160,000, and just what the outcome of this action of the Harris’ in asking to be released will be, is very problematical at this time. There may several lawsuits result before the matter is finally settled, but we do not think the county will lose anything in the fracas, at least it is hoped not. The case is re--turnable next week.