Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1873-08-14
The BOND settlement Again.


Ine E2ond settlement Again.
The Democrat last week devoted con-
siderable space and effort in an attempt
to show that our objections to the COM
promise are of little consequence; that
our fears Of increasing instead of dimin-
fishing the debt, are carefully provided
for in the 18th article of the agreement"
and by the resolution Of the County
Board appointing VIM I. Henry and G.
L. Mcigs a committee to receive from the
Chairman and Clerk the compromise
bonds, and deliver them to the bond
holders.
First let US see what provision there is
in the lib article to prevent Mr. Beecher
or any other party who receives the
compromise bonds from negotiating them
while stil holding the. judgments in
liquidation Of which they are to be is
sued The said 4th article reads as fol-
lows
For said payments. bonds to be issued in
such reasonable and proper form as is allowed
by said compromise laws, as may be designat-
ell by said first PARTY, in his proposals SO to be
made, and said proposals are to contain con
ditIuD that THE SAID FIRST PARTY MAY HOLD
ITS SAID JCD4MEEFs, and all remedies there
ON and hereunder, 50 settled and compromis-
cd n they now are, or may be hereafter rem
dercd as security f3r the making Of said COM
promise payments and the interest upon
them, and hat satisfaction of the said iudg-
lucnts shall BE- made and entered By the Clerk
of the Court, where The same may be when
ever satisfactory proof is presented to said
clerk hat ALL u said ~iA,y-Iyc cents on the
AND NOT UNTIL TI1EN.
Could there be clearer stipulation
than this that the judgments and COM
promise bonds are both to be held by
the same parties, and that no saHsfac-
ton Of the JudymeHts is to be entered
npoH them until satisfactory proof is
presented that ''aU Of said sixty-ive
cents on the dollar, and the interest
thereon, has been paid " TO etup this
article rs providing for our objection is
folly in the highest degree, not to say
the sheerest inlpulence la this very
article is embodied one of the features
Of which the people most seriously com
plain, to~'o1 that payments when made
arc not to be applied in satislactiorlr of
any judgments, at the rate Of one dollar
for every G5 cents, as we claim they
should BE-
The resolution Of the Board appoints
ing Mr.. Henry and Mr. Mcigs a commits
tee, which the Democrat haunts as a
further safeguard to insure the county,
and as overcoming all objections, is as
void Of efficacy as the boasted Eth article.
The resolution is in tho following words
RESOLVED, That Wm. T. Henry and G. c.
hGj@s bc, and they are hereby appointed on
behalf Of the county, and authorized 10 receive
from tine chairman OF the board and county
clerk the compromise bonds or other 0bligsi-
ton requisite aud necessary to COMPLY WITH
THE TERMS or SAID SETTLEMENTS and to con
hummate the same 10y delivery thereof, and
said VIM l. Henry and G. G. Mcgs are cs-
lcciaiy charged with the obligation and duty
III carefully and yigiautly seeing that said
compromise bonds are properly made, signed
delivered upon settlement on the terms atOrc-
said Of ut least three l0urth> Of said debt and
That the proper lawful stipulations are duly
filed in the courts where said judgments are
IN each case, 50 that ON payment OF the com
promise bonds the judgments will be surely
released and satisfied, and 10 report fully their
nets and doa@s n regard thereto 10 the board
II is next Eecting.
Let US analyze this resolution and see
what it eontemplates, what the committee
nre directed by it to do, and what,
under the stipulations they have power
TO do, Evidently, this resolution con-
templates nothing more than the issuance
OF bonds ia accordance Nth the agree
9aent; and the committee is appointed to
see that the bonds are so issued and de-
liyered Mr. Henry and Mr. Nc Is have
no more authority under this resolution
TO issue bonl in the least respect diff
terent from that provided for in the stip>
ulation than they have to issue counters
felt money. What the wording Of the
bonds Shall be is plainly set forth by
Mr.. Bsechers attorney, which Messrs.
Henry and Meigs have no authority to
vary even to the extent Of dotting an 4 or
crossing a t. Said bonds are to be in
the following words and figures
United States Of Amcrica-State of Wis
conSn-loEa Geuutv,-No-.
KNOW all NEN 81 THESE PRESENTS. That
the county of Iowa, in the State OF Wiscon.
sin, acknowledges itself indebted in the sum
OF Five Hundred Dollars, lawful money Of
the United States OF America, which sum of
money the said county Of Iowa promises Ia
pay 70 Luther ReecAer OK BEARER at the
Office Of the Detroit Savings Bank. in Detrnit
Michigan, q the 18th day Of April. Isl,
with interest -hereon Ill tie rate Of eight per
cent. per annum, payable At said Office as per
coupons attached.
This bond is issued in pursuance and by vir-
tue Of an act of the Legislature OF the State
of Wisconsin, approved March 18th, 1878, .ra
in conformity with d resolution of the Board
of Supervisors Of said county Of Iowa, adopt
cd on the-day Of, 1873
In testimony whereof the chairman of the
Board Of Supervisors has signed this bond,
aud caused the clerk Of the county TO attest
the same by his signature, ana also by atIixin-
the seal Of the county Of Iowa hegeUnto this
day Of, $50