Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1871-06-15

THE following is an extract from the
letter Of Henry d Smith, county attor-
reys, addressed to Judge Mills, and pub
lishcd in the National Democrat Of May
Gath:
To be rid Of this annoying and injurious af-
fair. our p.oplc have ever been ready TO make
n fair com promse. We have met Mr.. Cobb )
proposition by one that if the bondholdcrs he
represents will first settle our present difficulty
at 80 cents on the dollar, in quick amt speedy
naymcnts, the town through Which G shall
eyicnd the road shall make up to them in the
way of a bonus the other 30 ccIlS--thus get.
TIM his bondholders all their money, securing
The aid he asks TO extend the road, together
with the invaluable good will of the people.
To this Mr.. Cobb's onIy reply is that it Is an
Outrageous proposition
This paragraph is understood by most
people TO mean that proposition was
made to Mr.. Cobb to give him $3.50 900
in money or its equivalent for 100000
of county bonds, and $4,000 in new
town bonds, as aid to extend the railroad
through the county If this is tire mean
ing of the proposition, and the moao's of
i. can make it good, Mr., Cobb author
ICES us to say that he is willing, ready
and anxious to accept ID But this is
not. he claims, and is sustained by good
authority, tho meaning Of the PROPOSE
ton as submitted to hita, and which he
pronounced Outrageous That propo-
sition, or tho meaning of it, was quite
different, being simply that he take new
county bombs to the amount Of Si5O,O 900
in exchanges for $500, 900 of tho present
bonds, and $4,000 in town bonds in aid
Of tho extension. Of course new eona.y
bonds could not be hypothecnted for ten
per cent Of their face, and "a Mr. CObb's
object is TO get sl50,0o cnsh to oxpend
/, building the road through the county,
hs would not DO in the least aided in that
direction by such bones
On behalf Of Mr.. Cobb, relative to this
natter we are authorized to say further,
that if the County Board or other parties
wish to become contractors for the work
Of building tho road through the county,
to tho amount of $4,000, hSis prepared
20 place in the hands Of a responsible
trustee 100000 Of the present county
and Mineral Point town bonds, to BE DO
liyered to said contractors whenever their
contract il completed, or in installments
a. may be arranged, Thus, PROPOSE
ton to settle 80 much Of the claims at so
cents on lho dollar is offered! The great
objection to Il is that the whole amount
IF $3.50, 900 would have TO BIO raised In
one year, which could not be done by
TAXATION without great hardship to many,
and whether or not We could raise money
by any other means is q mooted question
In addition to this $50, 900 on settle
mcnt Of old bonds, the towns through
which the road would pass, and which
would Be directly benefttrd by it, would
no expected to subscribe SD0,090 to the
stock of the now road, giving their bonds
therefor. This no doubt the towns would
do, a. tho county attorneys intimate in
the paragraph quoted above
IA We understand it, an opportunity
is hepe offered to compromise half of the
claims against the county at 80 cents on
the dollar, and we are. rs stated in these
columns ,asA week, in favor Of onbrac.
ing il, believing it to DO for the best in
terest Of the people.