Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 3 · column 4 of 6 · from the scan, no model involved
Bingham. He said he was wondering if the county couldn’t get nine to 10 percent interest on a “rollover account ... You can draw that money any time.”
Mrs. Foster reported that the county had made 10 percent on some of its funds invested with the Rappahannock National Bank. “Last year we made $23,000 more than we anticipated,” she said.
“I would like to commend you on your handling of Rappahannock’s money,” said Piedmont District Supervisor Charles K. “Pete” Estes. “Only twice in seven years have we had to borrow money. I have been very satisfied with your conduct,” he said.
Mrs. Foster said, “When we keep our money in a local bank, people in the county can borrow that money.” She added that Rappahannock National Bank was chosen as the repository for the county’s money because the Farmers and Merchants Bank in Flint Hill didn’t offer as high a rate of interest.
County Administrator John McCarthy said handling public money has become “more complicated. Money is needed faster and in larger amounts. In the future we may have to invest differently.”
Col. Bingham said his main concern was the interest rate. “If there is a way to get more money for the county, we should look into it,” he said. r
94.4%