The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-11-17
WE HAVE BEEN FURNISHED WITH THE FOLLOW.
w ing report of the meeting Of the holders the of
the city OF Milwaukee, held In Ibis city on Monday
MEETING OF The BONDHULDEKS OF THE CITY OF
y I.Lr

MILWAUKEE
held at The Office of Messrs Mann Rodran 50 Wall
1he iondhodes fully represented and the meeting
was organized by appointing Waits sherman Esq., Chairman.
raper stated that he had city of Milwaukee,
S %
the object Of Mr. : visit his inquiries with Prompiness
and aDbEss and took immediate steps
sentaon Of The city government wei as The tax payers of
Draper that the disposition evnced highly honorable
to The parties represen,ng The city and he was that
meet reasonable demand of the cltss creditors The con-
roads Tor lie city had issued its credit would Be re-
% Y her ,s % as e, AID unite IN resamp
constr ucon ana IN where the roads had awaited the
Would BE- TAKEN by he @ as o sue
early resmP9n and Of the obligations Of that class
Of Messr duncan serman obers holders of bonds to
last and had an interview with The and Other ocia and
bg, esteemed men in regard to what ght be expect
hey stated uniformly that under circumstances would
their city repudae their obeaoDstba Trey derived the
advantages and benefits Of the monies they had by
the Improvements not only Of their city, but OF the state also
ten created by The application Of such mouiss with their own
aided ss The enterprise OF Their which had been in
procured but that owing the failure crops for the
the & sreay ~sn &C.
nee s Ss's a. Sa e sG tho s
would consen, to defer the Of interest they could
need MT be doubted hat ample provision made to
acknowledging they hal value received for he1r
bends e s ss@a e as msg ss n good ah
IN iher incivional or municipal capacity,
~, hsss we're sitsfaeor would have been
hem Some mschevous evil disposed persons had raised
much IS the bad prohibited the state governments
r9n contracting oebt Of more than one hundred thousand
was alleged that the Legislature could do indirectly what
ze municipal corporation debt which the State
dona TO- se This point however, has been adu
such loans and 10 the credit Of the Judiciary that
confident thai this eroSns CIV bSoa ar , ne was
population would not long remain under the rest
termine the credit of i!s citizens individually The bondnoa
thai city upon any coerciy measures shS e
e CHEF element OF the credit Of nuncipai
The idea of bearing the disgrace Of tie present position ~
endured and he was conden hs
effort was now being made BY many Of them retrieve an
held obeaons and he bad no oab ~, hna
tenin@,ons Every g vernment which fails to perform it's
oolitatons ana duties must M OF coarse, in compelling
iea 9ganizaon Of our cities Is worth saving and mann-
hs he conon Of & existence their aaa good faith
proeress-ther only sure hope of good order public
Mr. ane confirmed the preceding statements having also
Mr. Decoppet that he had JUS. returned from NIL
YANKEE and gave general outline Of the condition Of the
,n gs he WE'VE Of the gentlemen who had preceded him.
ONE qne ana e eers in
Mr. sherman thought that there evidently the tes
don OF things al Mil aukee and be that there
was OF curly and satisfactory arrap cement with
out the recessiy of going IN the courts.
IN representing the interests under his charge had fire.
gueni tmmunca,eo with the Mayor other officials OF
NIL wankee who, he was bound to say had always admitted
the duty Of the city 70 see al IT, obligations houoraby paid
want q present abuyOwing the erished
condition OF the Western hitherto
been the apology offered for the default
he pondhOders had tacy tho suciency tbese
excuses by quiet indulgence the present time But
they felt that effective should he
taken II would have been satisfactory aim If Tho
Common Council Of Milwaukee had long since manifested Nv
some public action desire the dscredt hh has
fallen her. By prompt and honorable action now II in
sui III her power 10 restore the her
Inspire confidence In future in her pligh,ed faith
Mr. MANN offered the following resolutions which were
unanimously passed. and the proceeding ordered 10 be pub
Resolved That the bondhodrs Of the bonds CITY Of
IN view OF the returning prosperity Of said city and
me western states generally have confident that
me people ana The municipal authorities of said city will adopt
early aud eecin for the Of the arrears OF
interest due or their bonds.
Resolved That committee Of five he appointed by the chair
confer with The city authorities and urge npon definite
ana seton To effect the objects specified in fore
going resolution. ~
Wherenpon the Chair appointed the following gentemen:
Mn Draper. Mr.. Dec )ppet, Mr. Lane
Mr.. Mann, Mr. Rush
On motion of FRAcIs FINCH, Esq, Mr. Sherman was added
% the committee of five.