Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1871-07-13

fQfAn mmMte nytI " ZOE e en-
& e ss q "a r. 81 - q * s6ds. "a for
"a 6 ] ssS & g I. ,'g 9S.;
issue. While entertained serious doubts wheth-
er the county can successfully set up any defense
at law in a suit brought directly upon the bonds
or coupons, have no doubt whatever that it pos
sesses the means of full, perfect and absolute Sc
curly against any liability to which it is or may
become subject. This security is provided by the
mortgage issued to the State Treasurer to secure
the railroad bonds held by the county, which
mortgage in nv opinion, is now the first lien up
on tho railroad, its fixtures and equipments, with
the exception Of small prior lien OF $lo.Uoo OF
first mortgage bonds and the interest on them.
: TO render this security available to the county
in the speediest, surest and most economical
manner, requires 10 my, Judgements 40 Inc nrst
place sagacfOus and pr Rnt negoc MM ana Man-
agement ]: and 81 the event Of allure ~ this
mode entertain no doubt that by resort to
foreclosure of the mortgage referred to, the
county would ultimately obtain fun INDEMNIFY
for any liability to which it might become sub
ect. although if compelled to resort to fOrecios-
ure. judgments at law might in the mean time be
rendered against the county and executions Is
sued. or proceedings by AANDAMUs rcsorted 10,
which would involve the county and its omcerS
in serious embarrassments .
In view of the situation OF the mattcrs 10
which nave rclcIItu, naN w S''o
NIT to your Board the following proposition:
I will enter upon negotiation with the proper
parties to bring about an amicable arrangement
BY which the county shall be discharged from all
liability upon any Of the county bonds or cou'
pons, and the bonds be surrendered up to the
county to be cancelled, and continue such nego-
| citation so long as I think the interests Of the
county require If after faithful effort for that
| purpose. shah fail to effect such an arrange
ment, will then institute the proper proceedings
Il 10 SapuritV Of the county
available and perfect, and continue to prosecute
| such proceeding to a final determination in the
court of last resort.
| The county shall make to me the following
compensation. l shall be paid all my actual
necessary cash expenses, to which shall be added
twenty five per cent. as an equivalent Tor depre-
citation of county orders; payment to be made
| from time to time as the expenses are incurred,
by orders drawn by the chairman ,aa OF the BOAR
ment, or falling in that, if do not succeed 9TH
| erwise in procuring for the county full and ann
pie indemnity for all liability on any OF said
| bonds or coupons then am to receive no other
/ COMPENSATION Whenever l shall succeed in
] making such an arrangement, or whenever sue
/ coed in procuring for the county such full and
| ample indemnity, / shall receive from the
county the sum of Ten Thousand Dollars in
county orders al par, including those previously
| received for expenses which orders may be paid
in installments running through period OF
four years with interest at 10 per cent. per annuln
ON deferred payments. In other words; if the
county sueeeeia in getting rid of all liabilities it
pays me $1,000 in county orders; if not, it pays
l me nothing but my necessary cash expenses.
| If any agreement shall be made with me by
the county upon this subject, suggest that it be
reduced to writing, and in that event will sub
nit to the Board certain resolutions, the adop-
ton of which shall desire to aid in carrying out
my p''''S' N'sp''D MOSES 9sEssi N. STRONG.
| Mineral Pit, Wis, January A. 1859"
The records of January 4th show
that the communication was s'received,
read and laid Oh the table" The
record of the 9Th reads: ON. NJ. Strong
appeared and was heard on his propo-
sition to defend the county on suit on
r. r. Bonds" The whole matter was
ignored, aud no action appears to have
been taken, except to clay on the ia
ble"-where il has ever since laid.
Notwithstanding the subordinate
| character of the Martin & Conan
| Mortgage, suit for the purpose of
foreclosing it was brought in April,
1859 in the .. S. Court, in which it
was charged that the Jansen Mort
gage (given to secure the county, was
subject and subsidiary to the Martin
& Conan Mortgage, and that the lat
ter had precedence to and priority
over'' the former and all other liens
and membranes.
In this connection l make further
| quotation from the aforesaid anony-
nous history:
'In this suit the county was not made party
/ 1afpp6anf huf no loo no fata Traoc
was While this suit was pending, before
decree Or sale of the road, two citizens of Min
| eral Point made strenuous efforts to induce the
chairman of the board to instruct the attorney of
the county to answer in this suit, asserting that
| the Jansen mortgage, held for the security of
| the county, was the first and paramount lien on
| the railroad. Every argument that could be,
was used with the chairman, and he was furnish
ed with written opinion OF an eminent law firm
IN Milwaukee, stating that if the county did not
assert its rights in this suit it would by Decree
be forever barred from SO doing"
The records of the Board of SUI
pervisors do not show that any action
was ever taken by the Board upon
the question of entering the appear
ance Of the State Treasurer as trus-
tee of the Jansen Mortgage in the
foreclosure suit of the Martin & Conan
Mortgage, nor of setting. up the rights
of the county as cestus que trust under
the Jansen Mortgage; but it did
appear on the other foreclosure suit of
the county, that Samuel D. Hastings,
State Treasurer, was served with a
copy of subpoena, and that he trans
mitted the same to chairman of the
Board of Supervisors Of Iowa County.
and gave to the officers of said county
authority by letter to use his name in
any proper way in defending said suit"
The best, if not the only excuse have
ever seen, for the disasterous neglect
of not permitting the rights of the
county to be set up in this suits ''That
the chairman, on consulting the attor-
ney was advised not to defend in the
Conan and Martin suit; that he 1.-THE
attorney expected and had full faith, |
hat he would be successful (in suit on |
County Bonds) in defending the coun-
y on the merits; that he did not wish
lis defense compromised, by the coun-
" setting up any right to the Jansen
Mortgage"
Mr. Joiner, the chairman, was sworn |
Is a witness in the suit in favor of the |
to foreclose the Jansen Mort
rage and testified as follows: 1--WE
we're defending suits upon bonds |
against the county. The basis of our