Rensselaer Semi-Weekly Republican, Volume 40, Number 37, Rensselaer, Jasper County, 14 January 1908 — Depository Law Ruling. [ARTICLE]

Depository Law Ruling.

Justice J. M. Rawley, at Greencastle, has made his deferred decision in the Russellville bank from the ruling, of the Putnam county board of finance, the court deciding that the county board must deposit $20,000 of the county funds with the Russellville bank. The bank presented a bond, at the first of the year, for $25,000, and asked for an equal amount of deposit. The commissioner ruled the bank out on the ground that the application could not be for an amount equal to the bond, but must be 25 per cent less, and that the bank was inaccessible for the county treasurer. The court ruled that the matter of convenience does not figrye under the law as it now stands. The Bank of Russellville is at the northwest corner of the county and not readily reached from the county seat.