Jasper County Democrat, Volume 23, Number 39, Rensselaer, Jasper County, 11 August 1920 — County Fund In Defunct Bank. [ARTICLE]

County Fund In Defunct Bank.

Richmond, Aug. 6.—The amount due the treasury of Wayne county on August 1 from the Fanners’ Banking company of Milton, now in the hands of a receiver, amounted to $17,551.58, oa the checking accounts of the county maintained there. The county also holds two certificates of deposit of $5,000 each, It was learned. The checking account of the county funds at thia bank amounted to $31,886.20 on May 81. The legal apportionment of the county's funds, which the Milton bank could 4iold, was only $6,000. This large sum Is partially accounted for by heavy collections of spring taxes in Washington township, amounting to about $12,000. It was said that it was the Intention to check out the state’s share of the county funds on deposit in the Milton bank, late in May, but that this was deferred when Cashier Oscar M. Klrlln, who committed suicide on July 1, requested that this money be kept there until after the harvest season. Following Kinlin's suicide the bank was thrown into the hands of a receiver.