Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1873-08-25
DODGEVILLE, WIS, MONDAY, AUG. %, 1873.


to amy compromise achoteUer.
They have been so long and so per-
sistently educated up to the idea that
they could never be compelledsto pay
one dollar Of this indebtedness, which
they have been so often told was un-
just, and the collection of which could
never..be enforced, that they cannot at
once unlearn what they have so long
been taught. But I do not urge this
as one of the most serious objections
which Mr.. Blake and his coadjutors
entertain to this compromise as a
large proportion Of them would be will
ling to acquiesce in any compromise
which they regarded as somewhere
near just, and would consent to give
up the ideas which have heretofore
been inculcated upon them, and to
agree to such a compromise as would
be for the general advantage and ben
eft Of the county.
End. Tile time aohen THIS conapro-
mise Is NJ. de.
The grounds upon which this rea-
son is based are confined to a compar-
atively small number of the tax-paye ers
of the county; being those only who
entertained hopes of utilizing this
debt In promoting the success of the
scheme of extending the Mineral Point
Railroad, via Dodgeville, Arena, Sauk
City and Portage City to Oshkosh.
The Wisconsin Midland Rsilway Com
pany was organized for the purpose of
constructing a railroad upon this route,
and at the time the negotiations for
this compromise were entered upon the
officers of that company were engaged
in an effort to induce the holders of
this county Indebtedness to exchange
it at par for the preferred stock Of this
Railroad Company and were endeavor-
ing to persuade them that they would
realize more from the stock than they
could ever collect upon their judg-
ments from a people who were resolute'
ly and unanimously determined they
would never pay anything If this
exchange could have been effected, the
Directors of the Railroad Company
would have surrendered up this indebt-
edness to the county at the rate Of sew
enty-five cents on the dollar, to be
paid in one, two and three years, pro-
vided the railroad was completed and
not otherwise. But, while these negoi
tiations were pending, they were inter-
rupted and in fact defeated by the
proposition coming from the county to
pay sixty-five cents on the dollar. The
creditors at once discovered that the
back bone Of the opposition to paying
this indebtedness was broken. Their
hopes revived and they gladly accepted
sixty-five cents in lieu Of stock in an
embryo railroad, the ultimate value of
which they regarded as entirely spoou'
lative. It is not claimed that the ne
gotiations of the Railroad Company
would certainly have succeeded, if the
county had not interviewed with propo-
sition for a. a.compromise, although there
are serong grounds for supposing they
might; but it is certain that the
intervention ofa proposition for oom-
promise totally destroyed hopes of
success, and that these hopes can not
be revived unless the board Of Super
visors shall refuse to ratify the
compromise and resume their old atti-
tude of positive defiance of their
creditors.
3rd. The amount agreed to be paid.
This is one of the most important
considerations connected with the sub
ject, and in presenting it l propose to
show what is the true amount of the
indebtedness the amounts Of the an
nual payments which will be required
to carry out the compromise and
then what are the per centages.
The total amount of the indebted.
ness with interest computed to July 1,
1873, is $511, ,661-(Mr. Strong was
here interrupted by Mr.. Henry who
stated that the true amount of the
debt up to that date, was FIVE hundred
sixteen thousand, and some odd dol
lars, the precise amount not remember
ed) Mr. Strong then resumed and said;
very we'll, we will call it $4,000.
From this sum deduct the judgment
in favor of Henry G. Bown, which it
is said cannot be compromised 81 ,561;
also thejudgments of Edward
Dodge which by the compromise, are
to be settled at 65 per cent. with per
cent. interest 81 090,00-152, ,651
and it leaves balance, which it is
supposed, is to be compromised at IS
per cent. in six annual payments with
8 per cent interest-363 349.
In making my figures to show what
the annual payments would be, which
have not time now to revise, L called
the total debt S511, ,661, and deducted
the Bowen judgments at 61,561, leav-
ing the net balance to be compromised
S45O,1OO. But l did not, as l ought
in order to be accurate, state the
Dodge judgments separately. But
the difference is not material, and the
intelligent mind can readily make the
Assuming the debt to be compromis-
ed at 65 per cent. TO be S450000,00.
The amount to be paid at 65 per
cent on the dollar would be S292.-
10000. Distributed into six equal
payments each payment would be