The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1879-03-27
THAT soMERsAULT.
The RoDosltory'a "Evldonco" Reviewed.

promise bill, says that 1t was deceived
into the support of the measure by mis-
representations on the part Of the friends
of the bondsmen, and that its "present
Judgment is based upon a more careful
investigation of the subject" The Re-
poSitoyy then proceeds to give the "iacts
and figures" derived from this more
careful investigation" which we sum up
as follows:
lst The bondsmen are owners OF ,OOO
acres of lard in Canton, Lake, Jackson,
Perry and Plain townships, (which
would sell for $40 per acre and some Of
it at much higher 6gure."
81. The city property of the bonds
men would bring 100000, "makiag The to-
tai assets of The bondsmen 100000"
Sd. The Repository admits that there
are mortgages on the real estate, but fails
to state how much.
Ali. The Repository comedies that the
bond4men have private debts which may
yet be secured by mortgage, but fails to
state how much.
These are the points, and only points
upon which Mr. Saxton seeks to justify
his course. These points may be sufi-
cient to satisfy our Repository ueighbor,
but to us they look fimsy and far-fetch-
ed, and will not bear scrutiny. Look at
Mr.. Saxton's figures moment and see
how they will pan out
City property not specific 9JOOO
|
Total according to rules OF addition ."""l6OO
But Mr.. Saxton adds these two items
together and obtains the sum of 5000, 900,
which shows that his arithmetic is out
of order, which fact may account for his
untenable position on the question. If
this is a sample Of the RepOSitOry'S fgur-
ing, the taxpayers would do we'll to car
ry their problem to some other mathe-
matiCian.
Here, then, according to Mr.. Saxton,
we have a sure thing to start upon. One
hundred and sixty thousand dollars
worth of real estate, from which to make
about sixty thousand dollars. But Mr..
Saxton admits that part of this property
is mortgaged already, and that the bonds
men have private debts, to secure which
other mortgages may still be added. Mr.,
Saxton does not pretend to estimate the
| of khaua TnDrfrra dyao md Hnhtu
which, for anything he or the public
knows, may aggregate the entire assets
But we still give Mr.. Saxton the most
reasonable estimate on this point, and
put the mortgages and debts at $50 900,
aud we venture that thorough inYesti.
cation will show our fig res below rather
| than above the real amount We then
have left 100000 of real estate from
! which TO make the sum of 1000 and
the costs of the suit. Now, does any
sane man suppose that he can take that
amount of real estate, 10 these times put
it up at forced Fale, aud realiza that sun
from il? The history Of sheriff sales in
this county for the last few years is
against it, We cite few instances;
The Alliance Opera House, worth in
ordinary times $4,000, was sold at sher.
if sale few months ago at less than
IS 900.
The Alliance College, costing over
100000, was knocked down at sheriff
sale three weeks ago at SIS, 1888.
The j. b. Nixon farm, within Alliance
corporation, worth at least 10000 sold |
a short time since for $6,000-the third
time it had been offered, and finally bid
in by creditor.
The Bolton farm, within two miles of
Alliance, and a splendid farm, sold a few
days ago at administrators sale for $333
an acre.
The Bleakly store room, a fine and val
liable property in the center of Alliance,
and worth at least $1,000, sold few days
since at private sale for S35OO
In the city of Canton it is no better.
The Fast property, costing about $44 600,
offered for sale short time ago, could
have been bought for $S OOO but could
not find a bidder.
Another property in Canton that we
hear OF, which two years ago sold for
SIT 900, was sold few days ago at ST.
500. and so on to the end of the chapter
Out of 500 900 worth Of real est9te.no
reasonable man could expect to realize
more than 5000 at this time, from a
forced sale. Let it be remembered that
in the above calculation we have taken
the Repcsitory's own estimate Of the as
sets. We believe its estimate is too
high. On the city property it has given
us no means of judging, bat on the II
600 acres of land" we have a chance to
Judge. We don't believe there is farm
outside of the city limits of Canton, Mas
sillon or Alliance, that will bring at sher
if sale $40 an acre. II there ever has
been that much realized from any farm
in the county in the last three years, we
have yet to learn Of it.
Now, let the Commissioners take Mr.,
Saxtou's own statement of the chances
for securing the entire amount of the
deficit, and act on his advice, and prose.
cute the bondsmen; we claim that the
history of sheriff sales in the county for
the last three years indicate that they
will not be able to secure, at the outside,
from the assets, as given by Mr.. SaxtOn,
more than the 80 per cent. fixed as the
basis Of settlement by the Worley bill.
We also claim that out of this per cent
must be paid perhaps $4,000 in lawyers ,
fees and costs leaving but $50. 900 as a
net result of the tedious and uncertain
law suit, aud much less amount than 6
can be secured by an amiCable compro. ,
mise. Now, in the foregoing We have
AIKEN for granted that the Com mission
IFS would secure judgment for the entire {
amount, a result which is by no means q
certain, as any one acquainted with the 6
of lawsuits can testify.
Aglin, we have taken it for granted
hat the bondsmen will cit down pas.
siyely, pending the suit, which ia inten-
1ed to strip them of all they possess, and
with unheard Of resignation and self.ab. '
negation, hold out their property for the q
minions of the law to come and take ,