Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1885-11-18
THE BROWN DEBT
Against the Old City-Terms Of Settle.
ment Agreed Upon ard New Six
Per Cents
To Be Issued The Whole Amount
About $35O.O00- Cost to the
City5 sass. 900.

The APPEAL about ten days sincs an
nounced the arrival of Mr.. T. E. Brown,
who is too we'll known in Memphis to
need any introduction here. In fact, the
bare mention of his name not so very
Ions ago was enough to make the blood Of
a Memphis man run cold in his veins.
He walked into President Hadden's Office
one fine morning, un~announced, unheraid-
ed, and taking that astonished official by
the hand said well, Hadden, l got
your letter, and it was so frsnk-so gener-
BUS that l thought 1 would just run down
and sse you. 1 don't think you are
going to do anything. about it, but l sup
pose you mean we'll"
in the evening he made a proposition to
fund at 81 cents on the dollar, but it was
rejected. The Funding Board gave up
the idea of agreeing upon any terms with
him. and for several days negotiations
were entirely dropped.
Mr., BROWN MAI
in the city, however. and Mr.. MADDEN
wore a smiling face when the APPEAL man
dropped in on him yesterday evening.
The debt had been settled, and upon
termr which, it is generally conceded, are
more favorable thar was ever expected of
him. The whole amount of claims held
by him aggregate in the neighborhood OF
S350,00). Or tbis amount about SIS 900 is
in the shape of maEdamuses issued against
the old city of Memphis by the courts to
compel payment for
THE NICHOLSON
laid under Browns contract. The re-
msinder is in bonds, coupons, warrants,
etc, n is to be settled, at the rate of IS
cents in the dollar, in new 6 per cent
bonds of the Taxing District. The manda'
muses. are to be settled dollar for dollar,
The whole amount of new bonds, there.
fore, which are to be issued to pay Mr..
Browns debt of $4,000 will be abou,
S2S5,000. He has returned home, and will
send the evidences of his Indebtedness to
bis attorney here at once. Secretary Pull.
len is making
ARRANGEMENTS FOR THEIR RECS PIIoN.
For J ears Mr.. Brown has positively de,
cliDed TO listen to anything from repre-
sentatJves of the city government. His
visit was a surprise, and his offer to knock
eff $4,000 of the whole amount, even
though rejected, was locked on as quite q
come-down for Brown. And the lntelli.
eence that he yesterday agreed to settle the
greater part of his debt al 70 cents on the
dollar will be a mental shock to the hun.
dreds who have been
LAUGHING AT THE IDEA
hist a settlement would be reached with
him on any terms. He has always been
considered the bitterest enemy of the city
e sort of municipal vampire, sucking il
blood for the love Of i. But there are
still some Others, whose added claims
amount 10 about $50, 900, who have so far
declined to settle. Those vino are known
10 hold old city Indebtedness are: j. G
Johnson, $500; John Overton, 81 900.
John Johnson, Si1,t00; John Losgue, 49,.
0U0; Hugh Brinkiey, 5000; L. A. Fisher
estate, $1,000; Ext!en Norton of New
York, $1,000; - Lamar of New York
$1,000; - Watkins of Nashville, $1,000
There is even
| RSAS)N To BELIEVE
that these are the claims against the ex
tiDct municipality which have not yet
been settled. At first the total amount o.
| Indebtedness could be only guessed at. Il
was estimated at from four to six millions
"A wide margiD. So much lime has beer
consumed, however, in the process o.
funding, and the fact that funding wal
| going on has become so widely known
that 1t is hardly likely that the auditins
hoard has no. during that time heard
something from every leader of q band Oh
company, nc matter in what part Of tht
world he may be. They speak therefore
with tolerabie certainty when they say
that the amount still outstanding is with
in 1900, 900.