Tuesday, October 22, 2024

Surety Company Reimburses County's Missing Money, Oct. 23, 1924

U.S.F. & G. Pays Shortage in Funds $8,102.95. . . Surety Company Pays Without Suit; County Estopped from Bringing Action Against Mr. Hickman by This

A call meeting of the County Commissioners held in the Court House Wednesday night the United States Fidelity and Guaranty Company of Baltimore, Md., the bonding Company who were Sureties on the bonds of W.H Hickman as County Treasurer, paid to the County Commissioners the full amount of money, to-wit: $8,102.95 which, according to the Audit of the Treasurer’s books made under the direction of Baxter Durham, State Auditor, was chargeable against the Surety bonds. The amount chargeable against the personal bondsmen of W.H. Hickman, to-wit: $1,058.62 having been paid several months ago. This makes a complete settlement, and the County has been paid in full for the whole amount shown to be due the county under the Auditor’s Report. The representative of the Surety Company stated that his Company had carefully considered the Auditor’s Report and after having had its Auditor to check the same, it was satisfied with it and decided to pay the full amount claimed without any law suit. On account of the wise manner in which the County Commissioners handled the matter, it will not be necessary for them to take legal actin against anyone, as all they could demand has been paid in full and the bonding Company as well as the personal bondsmen fully released from all liability.

The fact that the Surety has paid the total shortage for which it is liable estops the county from bringing any action against W.H. Hickman, county treasurer at the time the shortage occurred. The matter is now in the hands of U.S.F. & G. to pursue whatever course they see fit.

From the front page of The News Reporter, Whiteville, N.C., Oct. 23, 1924

newspapers.digitalnc.org/lccn/sn85042236/1924-10-23/ed-1/seq-1/

No comments:

Post a Comment