Columbia weekly news., 1859-04-07
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nearly all their property wished to OBJ.
tain portion of the money dus to them
by the company. as they, very much
needed it. The Trusfscs aftss apply
ing to almost every gspAmaS male
County for aid, to pay them, were tnaI
ble to do so; they then sem. J. A. Jack.
son, Esq, to San Francisco to try to
raise the money, at that. place. He,
the Chairman, gave him the names Of
the best men in the County 70 use as Sc
curity, in case he could get any money
he took upon himself the responsibility
of giving those names, without asking
those gentlemen for their permission,
be left it to chance, about obtaining it,
provided he could but get the money
but no, none could be got. Mr.. Davis
was then applied to, with the view Of in
ducing him to take up the mortgage Of
Donnell & Parsons. which he did--thus
helping us through that difficulty--in
the spring Of 1853. The Company had
incurred further liabilities to Donnell &
Parsons, to the extent of nearly SILL
400, for articles which the Company had
agreed to pay cash. The only means
the Company had to pay them and to
complete their works, was by grant
ing a lease Of the south branch of the
Ditch to these gentlcmen--which the
Board Of Trustees did.
With reference to the lien placed
upon the works of the Company by
Donnell & Parsons, the Chairman stated
that It was by bis persuasion that it was
done as a security to all the creditors,
and he thought that all parties would
have been pleased with the arrangement
He did not think that there was single
creditor or steckhcider in the Company
who, under those circumstances. would
object to those gentlemen receiving
every dollar for what they had supplied
to the Company. If tLefe was man
connected with the Company so mean as
to object to paying them their full de-
mands, such an one would be capable OF
sinking his friend into the bottoniess
dee p with mill stone around lis deck
would nail his friend to the ctoss-he
could not, nor would not believe shat
there was such man in the Company
At the November term of 1888. the
principal mortgages Of the Ditch bei1g
dissatisfied with the terms of the lease
granted to Donnell & Parsons, gave no.
tice Of their intention to foreclose their
mortgages-the Trustees as we'll as Dom
nell & Parsons did everything they could
to prevent such step--ofsre l to agree
to almost any conditions, in order to
avoid it, but without success, as the
mortgages were foreclosed.
Then again there appeared to be con
siderable misunderstanding, with respect
to DonnelI & Parsons not paying the
taxes on the Company's property-they
were not expected to pay it--they had
no more right to do SO than any other
creditor: lessee is not compelled to
pay the taxes on any property unless it
is expressly stated in his lease, that he
should do 50. No such clause exist
ing in the lease of Donnell & Parsons,
they had no right to pay the taxes.
When demand was made by the Sher.
if for those taxes, amounting to over
$500, wo had no funds to pay it we
tried our best to get tive wrote to-
Mr. Davis, at San Francisco, on the SUBJ
ject, who offered to furnish the money,
provided the Ditch was allowed to be
sold for the taxes and bought in, in bis
name. Donnell & Parsons offered the
same, and as we thought that it would
be better in case it had to be sold, that
it should be in the hands Of resident
stockholder, we allowed these gentle
men to buy tit was not because we
had no faith in Mr.. Davis, but merely
to keep the property in the hands Of
resident stockholders.
Question from Stockholder--
Did rot Mf. Davis offer to furnish the
money to pay tho taxes''