Финансист

Chapter XXVIII

           Hehadnotdepositedtheminthesinking-fund,anddidnotintendtoforthepresentcouldnot,unlessconsiderablefreemoneyweretoreachhimshortlyforhehadusedthemtosatisfyotherpressingdemands,andhadnofreemoneytobuythembackor,inotherwords,releasethem.Andhedidnotwanttojustatthismoment.Underthelawgoverningtransactionsofthiskindwiththecitytreasurer,hewassupposedtodepositthematoncetothecreditofthecity,andnottodrawhispaythereforfromthecitytreasureruntilhehad.Tobeveryexact,thecitytreasurer,underthelaw,wasnotsupposedtopayhimforanytransactionofthiskinduntilheorhisagentspresentedavoucherfromthebankorotherorganizationcarryingthesinking-fundforthecityshowingthatthecertificatessopurchasedhadactuallybeendepositedthere.Asamatteroffact,underthecustomwhichhadgrownupbetweenhimandStener,thelawhadlongbeenignoredinthisrespect.Hecouldbuycertificatesofcityloanforthesinking-funduptoanyreasonableamount,hypothecatethemwherehepleased,anddrawhispayfromthecitywithoutpresentingavoucher.Attheendofthemonthsufficientcertificatesofcityloancouldusuallybegatheredfromonesourceandanothertomakeupthedeficiency,orthedeficiencycouldactuallybeignored,ashadbeendoneonmorethanoneoccasion,forlongperiodsoftime,whileheusedmoneysecuredbyhypothecatingthesharesforspeculativepurposes.

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