Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1884-12-18
ALDERMAN ALEXANDER.
His Defense Of the Contract With
Townsend & Lusher.
The Contract Good Ono and the Best
that Gould be Done.

i
the addition to the colored schools be-
ing the subject of discussion on the
streets yesterday, consequent upon It's
being vetoed by Mayor Smith, and
after reconsideration passed again
over the veto, rs reported In the last
issue OF THE GAZETTE, iiupelled a
representative of this paper 10 seek
what he could find from the gen
tleman who made the contract Alder
man Alexander Capt. Alexander
when approached on the subject, said
he had little more 10 cay further than
what was published relative 10 the
matter In the reported proceedings Of
the city council, which were correct.
But toll me just how the contract
was made and why this rate Of interest
was agreed upon - requested the re-
porter.
Certainly but / object to the word
| Interest being used IN this COnuec-
| ton for do not consider II such, and
| the history OF the transaction will, !
! think, bear me out Owing 10 the abb
qence Of some of the members Of the
committee, including the chairman,
the duty ofmaking the contract for the
| building In question devolved upon me
knew that II we offered to let the
contract aud call for bid few could
be found willing to undertake the
work for city scrip without an enor.
NOUS increase over what they would
do the work for cash and believing
then that we would succeed In dispOs
ing OF our bonds and securing the cash,
| made the contract for ca1h, payable
nt "a specified time. This brought the
! figures on the work down TO the lowest
mark, and the men who took the work
! figured so closely on IL that they could
not discount the paper cent aud
come out whole. When the
meet the obligation promptly with the
money was brcached the Contractor
very naturally desired TO be secured,
and to the end that they should re
celve the S9Ol7 In cash, set about to
| nnd some method Of protecting them
and at the same time making az good
"A bargain for the city IA possible II
was well known that city paper was at
"a discount. No one scarcely was buy
| ing It excepting In small quantities
aud then at 20 per cent discount For
| the sum OF $1,000 IL would have been
] difficult tu tiud q purchaser even at
these figures ! calculated the dis-
count on the amount promised these
contractors and at 20 per cent of
II amounted To some four hundred
dollars, but not Wishing to incur this
expense upon the city unless 10 was
absolutely necessary 1 made the con-
ditloum agreement, on monthly
sliding scale, 20 that II the city should
secure the money to pay the claim be-
fore March the 10th, she could save
herself the inter, ST. IL was an agree
ment In which the city had the ad-
vantage and, mt the market value Of
city script the contractors had not
one penny's worth the best Of H. /
thought II a good contract then and
think II good contract now; / Thought
It the best contract the city
had made on public Improvements
for many day and have
seen nothing since to cHuse me TO
change my opinion do not call
thar o per cent, a month interest ei-
Their, though In effect perhaps 1t
amounts to the same thing
Don't you think 20 per cent dis
count IA little steep ON city paper thst
Is supposed to be redeemed In March,
~ do, but | had no power to change
the order ofthlngs from what then *
isted and, for that matter, from what
, exists nown
Is the city paper still 30 low in Oh,
matkelpl
ut would 80 appear from the trans
f, actions recently had There Ia firm
here In this town who had claim o
S2l9 against the city Messra Wear
!, Harris--and Ia order to realize on Il
l. | lhAN had ia fltaanttuf n al. ~
Don't you think Il imprudent II
!. the city 10 purchase or incur any OK
1. pense other than for oash?n
81 do but what are you to do Rbou
it2 Wa were ordered TO let the con
tract; given pleuary power to close II
and aa matter OF course ex pecied I
do for the city the best possible
claim that 10 Is good coutrAC
considering what the clty IL forced I
: pay for other things The city Ia ne
:. paying her debts aud cannot pay lac
uebta and her purchases on credit al
far above what could he done for cash
"ln what purchases Ia the city pay
:, ing ~ much as five per cent mont
Il interest2n
SC 81 don't know that / can numeral
y them Just now but | might say Ia,
&, we are paying twenty-elght cents
n hu%hel for oais that sell for twent,
10 three nts; that an officer Of this eli
tried TO buy two brides from
hardware store few days ~
and was Informed that a
IN counts with the city were n,
- desirable. might so further aud ~
Il that from my own Knowledge some
ne the aldermen who are serving the OH
have been compelled to discount the
claims 10 per cent, IA order to neg
tiate for the pittance allowed them
- unearlhed these things, and this
" why | have 80 many indignant peop
~ about my head noN.n
= "You think then that the contra
y made, over which the conteet in II
- city council arose, WAS good one I
~ the city,
q Certainly, Il WAS accepted by Il
y council, and Il Is too late Ia the day
" raise a storm about it now. II Il
~ same thing was 10 be done, should
- It over again, and think | was makil
70 "A good bargain FOR the city,
W q,ha Maslad nan