TUESDAYl JANURY 21st 1930.
<br />The Board of County Commissioners in and for Indian River Counter, Florida, met at
<br />the Court House in Vero Beach, on Tuesdays January 21st 19309 at 10 o'clock A.M.with
<br />the following members of the Board present: Albert O. Helseth, Chairman; J.U.Yongue;
<br />J-W.LaBruce; T.J.P.Hamilton and John -H. Atkins Also present were Miles Warren, Clerk
<br />and Clark S. Rioe, Sheriff.
<br />lom Ella Goodrich appeared before the Board regarding road improvement at Rose-
<br />land. It was moved, seconded and serried that the order heretofore entered
<br />Baird Street in Roseland be rescinded and instead the road or street improvement be
<br />made by connecting the hard-surfaoe road on Nichols Avenue.
<br />The pension application of Mary L. Dykes, widow of Wm. H. Dykes, Confederate
<br />pensioner was approved.
<br />The Notary Public bond of Gordon R. Olmstead, in the sum of 500.04 with The
<br />:American Surety Company, a corporation of New York as surety was approved.
<br />T. A. Stewart, Received of Fero Beach Bank & Trust Company appeared before the
<br />Board and advised that the State Comptroller was willing to have the notes and mortgagE
<br />r held by this Board as security on account of County Deposits be endorsed over to the
<br />Board on a basis of 25% of the face value, provided that sbDuld the Board collect more
<br />than 25% of such securities that the remainder then be turned over to the Receiver
<br />for distribution among the depositors and creditors of the institution. This
<br />proposition was accepted by the Board, and the following schedule was agreed upon:
<br />T. A. Stewart, Receiver of the Fero Beach Bank & Trust Company appeared before
<br />the Board, and stated that Comptroller Ernest Amos, had approved the plan heretofore
<br />agreed upon between the Receiver and the Board of County Commissioners of Indian
<br />River County, -Florida, whereby the Board meed to accept the securities held by them
<br />on account of County deposits and give the Bank credit on a basis of 25% of the face
<br />of said securities. Approval. given with the understanding that should the said Board
<br />collect more than 25% of such securities that the same would be turned over to the
<br />Receiver for distribution among the various depositors and creditors of the Bank*
<br />The schedule of such securities, as to amounts and credits heretofore given being
<br />as follows:
<br />emember 12, 1929
<br />2t9UNTY DEPOSITS:: Various Finds on deposit
<br />whoa Bank closed . . . . . . . • M . . . . . . • $1289929027
<br />Less, Paid on seaqtlty collections: -
<br />Dec 1928; sale of bonds . . . .$5;577435
<br />Mob. 19291 sale Qf bonds . • M • . . . . 0 39724,54
<br />Nov • 1929, paid on Hausentan note . « • 399.34
<br />a ance
<br />SECUt_M ON 2LMM DM=s
<br />Notes (Various) • 1359164.87
<br />Less paid on Hatsem$n note ..399#54
<br />BALOCT NMES ,« .' • • �► r . ! • • . . . . • . . • . • ,x'768,35
<br />BONDS NI"PH 0012TROLLER9 . . .► . ° . . . .. $200 900.00
<br />Less sold Dec 1928 b, 040*00 j
<br />Less sold Mob 1929. . • . 4 400. O �,® QQ6aQ €� OOQ.OQ..
<br />.., ..'2,000'..9 ..., ......e. ........._ ... s._,. ..,..,.
<br />Total security . . . . • . . . . . • . . . . $ha49765.33
<br />Deposits listed above ,► • . .$119,22s 88
<br />Less 25% of security • . 38
<br />;L15�1.33 ..,,.
<br />Balance due dA claim . . ,► . 83', 434.•55
<br />On motion made, -seconded and carried, it was ordered that the agreement made and
<br />agreed upon by this Board and the Receiver, with the approval of the State Comptroller,
<br />be aooepted, and the security taken over for collection, and credit given for the