Union Savings Bank & Trust Co. v. Gelbach

The opinion of the court was delivered by

Stiles, J.

— Appellant being possessed of warrants issued by Thurston county in 1891 — 2, upon the call of respondent, who is treasurer of the county, presented them to him for payment. The treasurer offered payment of the principal with interest at ten per cent, per annum until June 7, 1893, and at eight per cent, since that date. The reason for the difference in the rate of interest offered was that, whereas, prior to June 7,1893, the legal rate of interest in this state was ten per cent., the act of February 21, 1893 (Laws, p. 29), which took effect…