Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1875-03-31
Meeting Of Citizens Association.

A Meeting of the Watertown Citizens
Association was held at Turner Hall, on
Thursday evening, March 25th, 1875.
Meeting called to order by J. T. Moak,
President. In the absence of Mr.. A. Tanck.
VIM. F. Voss was elected temporary secre-
.ary.
The following resolution was introduced
by Mr.. G. Cheney, and adopted:
Resozved, That no person be permitted to
participate in the proceedings of the meet
ings of this Association, without first hay
ing become a me mber of the same by SUBJ
scribing his name to the list of the secretary.
The following resolution, introduced by
A. Solliday, was adopted:
ResoIved, That no man be nominated by
this Association whose name shall not have
been previously enrolled among it's mem
bershlp.
The following resolution, intr oduced by
Thos. Moore, was adopted:
WHEREAS, Hon. Christian Mayer. our
honest representative, has been grossly in
suited and threatened by members of the
Union League, for his honest conviction of
duty in our regard; therefore,
Resolved, That we, the members of the
Citizens Association, hold him in grateful
remembrance for his noble and manly eff
forts to place us right before the intelligent
| people of this state and elsewhere.
J. B. Bennett, Esq, made few remarks
in regard to our bonded Indebtedness, and
| also read letter from E. Mcmahon, of JEFF
terson, giving an account of the Jefferson
railroad bonds, as follows:
NATIONAL BANK OF JEFFERSON. !
Jefferson, March oath, 1875.
J. B. BENNETT, Watertown.
DEAR SIR:-Yours of to-day received. In
| reply Will give you short statement of our
town railroad debt. In 1857, when the
first attempt was made towards settling.
our debt was 100000 principal of bonds.
and about $4,000 accrued il terest, in
Guiding about $4,000 of judgments
Standing against the town, in all $3.50, 900.
| The debt as it now stands, is as follows,
| viz:
Old bonds not yet settled or presented for
settlement, $4,000; new bonds outstanding
at per cent interest, and payable at vari-
Gus times, or an average of about Is years,
$5S, 800. The interest on all new bonds is
paid annually. All judgments have been
settled, leaving nothing but the bonds above
stated, as the debt of the town. Many of
the bonds were settled for cash on the start.
at SOC. fat, on the dollar. About $50, 900
of the bonds were settled for on the basis of
dollar for dollar. No accrued interest
counted, except on new bonds for old. The
balance of the bonds have cost the face
and about half the accrued interest, being
many OF them in judgment and in small
lots. The last S., 900 we are in hopes will
ne yer turn up. Of course this could not be
done without an increase OF taxation, our
total taxes ranging from p to per cent.
on assessed valuation. We are now ia a
position where our debt cannot hurt us.
We are retiring about SIS, 900 or Sc, 900 new
bonds every year.
Yours, Respectfully,
E. MCMAHON.
Speeches were made by G. q. Gardner
| and Thos. Moore.
On motion OF D. W. Ballou, it wa. moved
and carried that two meetings be held next
week, one on Tuesday and one on Saturday
| evening, and that the officers be nominated
on the last meeting.
On motion, citizens not yet enrolled AZ
members of the Citizens Association be re-
quested to give in their names.
On motion, the Association adjour ned
until Tuesday evening, the 3oth inst.
W. E. VOsS, Acting Secretary,