The Wichita city eagle. [volume] (Wichita, Kan.) 1872-1883, 1879-01-16
THAT RAILROAD STOCK.
A Few Reflections Upon the Sub
ject.

J0Ct.
Two or three months since. q scombi-
nation of circumstances surrounding
the affairs of the AtchisOn. Topeka &
Santa Fe Railroad and its great stock
market in Boston, conspired to sudden
ly push the price of its stock and securi-
ties up to a comparatively very high fig
ure, as also to advance greatly the stock
in the branches leased and controlled by
that company, Many small holders OF
original stock closed out. The County
Commissioners of Lyon county and of
Sedgwick county becoming apprised of
how matters stood, took immediate
steps looking TO the disposal of the
stock of their respective counties, salts
fed, beyond any question, that a golden
opportunity had arrived in which to re-
lieve the county Of over half of its
bonded Indebtedness. The Commits
sioners Of Lyon county already having
the power TO sell refused to tell any one
of the manner or time of the negotia-
tons, but went straight ahead in bust
ness way to do good thing for their
constituents. But the writer of this
had a conference with the chairman of
the board of Lyon county. as also with
with men who had held original stock
and who had sold at one-balf the price
it commanded in October. All this
and much more the board of County
Commissioners of Sedgwick we're made
aware of. and it was only too plain that
they had but one duty to perform. that
was to take immediate steps for the sale
of the stock asking, in the mean time,
at the hands of the taxpayers, the nee
essary authority. simultaneously with
the PRONUNCIATION Of the official action
and determination full explanation of
the whole matter was made to the pco-
pile through these columns. The result
all know. The power to sell was re-
fused.
The aptness or proneness of the pub
lie to heed the cry Of fraud" is as
strange as true. 1t makes no difference
from what quarter il comes, or how I'M
reliable or unworthy the source, let the
cry of fraud" be raised against any Of
fcer or set of off cials and Immediately
il is echoed from every quarter. The
man who first raises j, may be utterly
void Of character or standing, he may
be recognized adven:urer and one who
never paid a cent of taxes in his life. hc
may be even any thing or nothing, still
if his cry is fraud" he will be endorsed
and believed by many in the face of
proof. as strong as Holy Writ, TO the
contrary. Everybody knows how true
this is. SO in the late election there was.
with one notable exception. not a prom
inen! taxpayer, moi & leading citizen. or
county official that denied Sac wisdom
eff wiping out, if possible. $4,000 of
the county's Indebtedness with stock
that had been considered of little or
of Il mere nominal voiue. That the whole
thing was defcatc'i by the howl of ire
sponsible parties. with the exception
noted, everybody now conceds. That
the county viii ever have another such
a chance is extremely doubtful.
As to our sister county Of Lyon and
how She came out. we leave il for her
own paper 10 tell. The same howl was
raised there, but Dave Gilmore said he
would do what he knew was for the best
interest Of the county if the howlcrs
burned his house over his head. The
Ne,cs says:
The Commissioners made thcir repor:
of the sale of the Atchison. Topaka K
Santa Fc Railroad stock and the ,ur-
chase of county railroad bonds yester-
day, by which we learn that with the
money realized from the sale of the
stock, the commissioners purchased one
and eight OF the county's bonds
Issued 10 the Union Pacific, SoTihern
Branch Railway Company. now the II.
X. x r and iorty-tlree of the bonds
issued 10 the Atchison, Topeka Il Sania
Fe Company: Each of these bonds were
for 81 .000, making a total of Sl5l 900
These bonds each had 22 coupons At
iachcd which called for 81 $40. These
10 1922 $40. and as they were
Il debt 10 be paid every year. q. the rate
OF Si0.570. fer the next twenty-five
wears, we may say that the whole amount
of county debt thus paid il S3S3.5l0.
which is a relief 60 the people 81 Old
i.on county that win make them re-
ioicc.
Thi, work has been done in a straight
forward. business-likc and economical
way by the board of commissioners
Notwithstanding attempts were made
10 slur them and east gnominy on their
names. they pursued the even tenor OF
their way and have done a work for
which they deserve the everlasting
thanks Of their constituents The man
lgement of the matter was under the
direct control of the chairman of the
board. David :. Gilmore. and he has
shown his usual devotion Ia the true in
Icrests Of the county. and managed il
with business shrcwdness aud tact !
People ought 10 remember this instance |
md refuse 10 believe ihc asDersions of |
Irresponsible parties against men who |
nave lived here for years. and hayc been |
ried and moi found wanting. While |
he negotiations were pending IN this |
important transaction. the commission
n were bounced upon by those who |
we're unknown here and had such attacks /
lad the desired effect the sale of the |
tock and the purchase of ilD bonds |
would have failed. An attempt was
made to DESTROY cotidcnce in the Conn
nissioners. and 10 make known facts
Which il was necessary for them To keep |
ecrct pending the negotiation for the
aleand purchase. and had these attempts
the Commissioners would
ave been foilcd. 10 n large extent in
heir work for the county. We congrat-
date the board and the people on The
appv conclusion of this matter.
The Escaped Cheyenne Indians.
The wild band Of Indians that escaped
rom their reservation laSi summer.
murders in Western Kansas
: thew fed 10 the north. and who were
fierward captured. have been UNDER
uine an ordeal which has well-nigh
fiped them from The face of the earth.
he army was ordered 10 turn them in
T, Fort Leayenworth where those who
tie outrages on The settlers
lighi be identified and brought 10 trial.