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Bearing Interest




Dear editor:

I always enjoy the City File and its anecdotes gleaned from other periodicals. Of course the risk in a column like this is that you may repeat the errors or omissions of the journals you draw from. A recent item [February 21] mentioned the fact that some years ago the Cook County Clerk's Office left substantial amounts of money in non-interest-bearing bank accounts. The item didn't mention that this was under a previous clerk.

Within a month of taking office, I made sure all Clerk's Office money was kept in interest-bearing accounts. Last year, we earned $100,000 more than was earned in 1988, despite maintaining lower average balances and facing interest rates that have fallen dramatically since the late 80s. Thank you for the opportunity to clear the record.

David Orr

County Clerk

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