The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1879-11-15

An adjourned meeting of the city council to
consider the matter of settling the water power
bonds was held on last Tuesday evening.
The Mayor opened the session with the state
ments that couple of bonds of this class belong
to the estate Of one Smith. The estate desires
to settle, and the Mayor thought the representa-
tives would receive an offer. The principal due
last August is 81, 600 with 5000 interest unpaid.
Two interest coupons (SleO) are gone which may
turn up If IA settlement is had the bonds will be
| turned over to the city,
| Catn; Could some one come in and claim
the balance.
Mayor: There is an order by the county
court that the bonds be sold. We might
wait until the bonds are sold and then negotiate
with the purchaser.
| The Attorney: The probabilities are that the
purchaser would ask full value. The chairman
of the finance committee might purchase them
on his account, and then turn them over TO the
city for what they cost.
Griffith: If the fight against paying the bonds
is continued, would this action be concedng the
case?
| Mayor: No.
Attorney: The council have agreed not to con
tnue the fight.
Mr.. Catln moved that the chairman of the
finance committee be authorized to purchase
these bonds and coupons attached at a cost not
to exceed ST. 100. The motion was agreed to-
Phelps, Leonard, Catlin, Hull and Griffith vot-
ing aye and Kelley, Murphy, White and Hol-
locker voting no.
| This was relief but not relief ana the oun-
ell took rest, staring at the carvings of their
opposite neighbors' tables, until the Mayor sug-
gested the unfinished business of settling with
the Eameses.
! Murphy called on the attorney for state
ment of the condition of affairs
| The officer said that the Mayor, Mr.. Games and
himself had gone to Judge EldreGge to whom
he pointed out the faults Of the first contract pre-
scented. The Judge said he would put in the
facts desired: The facts of the case; that Mr..
Eames was not an innocent purchaser; that it
was to avoid litigation only that the city dsired
to settle and not that she acknowledged the alb
solute legality of the claim. The Judge said he'd
consider it. But the last contract presented was,
| he thought, worse for the city than the first
| While he believed that Mr.. Eames would faith
| fully perform his part of the contract however
worded, yet the city should guard against any
ton his heirs might be disposed to take to collect
the remainder due on the face of the bonds; and
| in his opinion the city should not execute the
contract until such guards were expressed clear
ly in the contract
| Hull moved that when Mr.. Eames presents
contract acceptable to the Mayor, Attorney and
Clerk that the proper officers execute it.
He would not however, advise signing any un-
til it appeared that by it Mr. Eames was MS com
pletely bound the city.
This motion was lost, Kelley, Leonard, Muir
ply, White and Hollecker voting no.
Mr. Catlin thought the record authorizing the
Mayor and Clerk to execute the first contract
should be Strengthened out, and on his motion it
was determined to reconsider, but left with I'M
finished business
Hull moved that the council adjourn for one
week, and that in the meantime notice be given
the parties that if satisfactory contract be made
it will be considered, otherwise that negotiations
will cease. As no one seconded this he claimed
his right to make another, and moved that the
| Mayor and Attorney consult with the parties and
as soon as contract is made satisfactory to them
that the Mayor call a special meeting to consider
| it. Carried
Griffith said that the new east side ciscrn would
be finished before the next meeting, and on his
motion the clerk was authorized to pay the bill
when the work shall be accepted by the com.
mittee.
| Adjourned.