Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1876-11-02


Senate until some time in February,
some too aoeeks, and not single
re,1aonstrGnce aoas sent to me, nor did |
hear from the opposition by letter, or
in any manner whatever. | then
moved its passage through the Senate,
as was my plain duty. 1t then went
to the Assembly, where Assemblyman
Marshal had charge Of it, and [ could
no longer control it. The bill fingered
in the Assembly until March 4th, and
during this time some rsmonstrancss
against, and one or more petitions fer
it, were sent Mr.. Marshal. He took
the responsibility to pass it. This is
the true history of the bill, and wheth-
er right or wrong. [ submit to impair
tial men, that [ had no right, in view
of the large and respectable number of
citizens, Democrats and Republicans,
as above given, who asked it's PASSAGE
to disregard their wishes. | was there
to serve the people. not to dictate
them and it is hardly fair that men
who urged me to procure thia legisia-
ton should blame me for complying
with their wishes.
There is another subject, and one
vitally important to the citizens and
tax payers of Wood county, to which
[ wish to call the attention of nay fell
low citizens, and that is, the matter of
the settlement Of our Railroad bonded
Indebtedness. I secured at the last
session of the Legislature, the passage
of an act authorizing the State to
loan to Wood County the sum of One
Hundred Thousand Dollars, to be
used in compromise and settlement of
our outstanding Railroad Bonds, being
the $150,000 issued to the Green Bay
Road, and $50, 600 issued to the Wis
consin Valley Road. After the bill
had passed, the Attorney General con-
strued it as authorizing a "e,o loan,
which would temporarily increase out
County Indebtedness, and as therefore
invalid until our assessed county valu-
alton should be sufficiently increased to
authorize the county to borrow that
amount of money, in addition to it's
other indebtedness. I believe the
assessed valuation has now been sufi-
GENTLY raised to authorize the State to
pay over the money, when required.
I was appointed by our County Board
one of committee of three to nego-
tiate a settlement of our railroad in
debtedness, and, having secured the
cooperation of D. nj. Kelly of the
Green Bay road, and James E. Joy of
the W. Y. road, had already concluded
a settlement of the w. V. bonds. on
the basis of fifty cents on the dollar,
of the principal, and was treating with
the owners Of the Green Bay bonds
for a similar settlement with every
prospect of success, when the Attorney
Generals opinion, above referred to
compelled postponement of the nego-
tiations. Those negotiations should
now be renewed, and il the people will
stand by me, [ will use every honora-
bic means in my power, and all the in
huence their support will give me, to
successfully bring about this settle
ment, which if accomplished, will
reduce our railroad Indebtedness from
Two Hundred Thousand Dollars, and
many Thousands of accrued interest,
to One Hundred Thousand Dollars,
with interest from the conclusion of
the settlement at seven per cent. This
will lessen our burdens, restore conf
dence and secure the investment of
capital which has been driven from us,
and secure the development of our
water power, and other vast and varied
interests. Every safeguard has been
thrown about the proposed loan from
the State, the State Treasurer being
the agent to disburse it In exchange
for the bonds. and the county thus
secured against expense for commits
sions in handling the money, and from
losses of every kind Gentlemen, I
reside among you. Your interests are
mine. I ask your aid and support,
without regard to party associations,
to enable me to serve you in matters
more vital to our interests, than the