The Placer herald., 1871-09-02
WHAT WAS DONE AND WHAT COULD
HAVE BEEN DONE.

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When the last Legislature passed the law
authorizing the Supervisors to sell our rail-
road stock without restriction as to price, an
association of interested parties at once con-
cluded that our Supervisors were ripe for
the work, and that the bill was designed to
swindle Placer county out of a large amount
of money which was her due. These men
sent one of their number to Auburn, who
conferred with three leading citizens and they
with fourth. This gentleman was assured
that 1t was believed that at least two Of the
Supervisors would endeavor to sell the stock
to the best advantage. This opened his eyes,
as he had firmly believed the bill was passed
to allow the company itself to buy the stock
at its own price, and under there assurances
he at once offered par for the stock, $780,
600, and to put up forfeit Of 5000
which the county was to have if he failed to
pay the $3.50, 900. He then said, suppose
Crocker & Co. learn that have offered par,
will not they come and offer the same, and
wont your Supervisors take their bid and
leave us without chance to buy? He was
assured that in such case, most assuredly
the Supervisors would notify him, and that
then the highest bidder above par would get
the stock. To this he said, very well, if we
are outbid we will have no reason to com
plain. We arc only giving the substance of
the conversation. Edgar Mills came to Au
burn the next day, had the Supervisors go
to Sacramento and there sell the stock TO ID.
O. Mills & Co. for par. About this time,
or soon after, stock was sold by private par
ties, as reported, for double, and treble, and
even ten times its face, yet our Supervisors
sold our stock at its face, without giving the
frat applicant and bidder notice that they
were about to sell. The county yet owes
money on railroad bonds, and the people are
yet taxed to pay the interest and principal
Of these bonds, and our stock is all gone.
This is "what has been done" Now for
"what might have been done" The Sn-
pcrvisors were advised by letter, signed by
Judge Hale, Wm, Cru;chcr, and ourself, Of
Lombard's offer before they sold, and taking
. medium Of what private stock was sold at,
in the same road, il is safe to say that three
dollars for one of our stock could have been
had if these two rival parties could have
had a chance to bid against each other. This
would have brought us $3.50, 600 instead OF
$3.50 900, and left us $500 600 better off
than we are to-day. This half million, placed
at reasonable interest, would have brought
the county $50, 900 a year, an ample sum to
have paid all the expenses of the county
government, economically administered, and
relieved the people of Placer of all taxation
for county proposes; or, it would have built
splendid college, splendid school houses in
every district in the county, and bought and
made free all the toll roads in Placer. This
is "what could have been done Voters of
Tracer, tne ior"er ~ VIM WIS uohc ~ 'i'
Supervisors, and the latter is what they
failed to do. The majority of the board
were Republicans. Republicans and Demo
Gratis, have you not had enough of Republican
Supcrvisorsp Think of these things when
you go to the polls to vote on Wednesday
next, and as you make your bed so must
you lie on it. . |ssr.