Commissioners decide to keep financial adviser

June 01, 1994|By Kerry O'Rourke | Kerry O'Rourke,Sun Staff Writer

Carroll's county commissioners voted 2-1 yesterday to keep their financial adviser of 13 years -- even though he has left Alex. Brown & Sons -- because he knows the county's business.

The adviser, A. Samuel Ketterman, now is senior vice president nTC of A. Webster Dougherty and Co. Inc., a Philadelphia company that recently opened a Baltimore office.

Alex. Brown & Sons has provided financial advice to the county for at least 20 years, but Mr. Ketterman's knowledge of county matters is crucial, Comptroller Eugene C. Curfman said.

Commissioner Elmer C. Lippy and Budget Director Steven D. Powell said they wanted the county to seek proposals from other financial advisers. But Commissioners Donald I. Dell, Julia W. Gouge and Mr. Curfman said they wanted the continuity that Mr. Ketterman could provide.

Mr. Curfman, who has worked with Mr. Ketterman on the sale of county general obligation bonds in past years, said he has come to trust the adviser and his ability.

"I would certainly like to keep that relationship going," Mr. Curfman said.

Mr. Ketterman is familiar with a planned bond sale to finance renovations at Carroll County General Hospital, which is an important reason to retain his services, Mr. Dell said.

The General Assembly voted in this year's session to give the county permission to sell up to $10.6 million in bonds for the hospital project, which includes renovating the emergency room and one wing.

"I think it's important to have continuity right now," Mrs. Gouge said.

Mr. Powell said asking for proposals from other financial companies would allow the county to explore available alternatives. "Every so often, you ought to put your services out for proposal," he said.

But Mr. Powell said that retaining Mr. Ketterman will help with the hospital bond sale scheduled in late summer or early fall.

A. Webster Dougherty was founded in 1934, Mr. Ketterman said. He began working there May 11.

The company also has offices in New Jersey, Florida and California.

Mr. Ketterman's former boss at Alex. Brown, Kevin Quinn, is president of the Dougherty office in Baltimore, Mr. Ketterman said.

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