Arizona weekly journal-miner. [volume] (Prescott, Ariz.) 1885-1903, 1886-05-05
sxsAXE A~YLVM vACrs.

1NsAAE ASA LIN tACTa.
The iouhSAL-MINER has no particu-
lar desire to try Governor Zulick's case
before he gets a chance to try ii himself,
still there are some questions of fact
which the public might as well know
beforehand. Specification second
charges the board Of directors of the in
sane asylum with SELLING 2, private sale
Sroo,oo face, value, Of insane asylum
bonds, when the law authorized and
directed tia, the sane be at public sale "
Section IL, Of the act ITO establish an
insane asylum" reads: Before the sale
of any OF such bonds. the said board Of
directors shall cause notice Of such sale
to be published for the period of one
men,h, in four daily newspapers, pub
lished IN English-one in the City Of
New York, State of New York; one in the
City Of San Francisco. State of Califor-
MA; one at the Territorial Capital, and
one at the City Of Phenix, in said Terri
tory. Such notice shall specify the
amount Of bonds to be sold, the rate Of
interest they shall bear. the place, day
and hour Of sale, and that sealed pro-
posals will be received by the said board
Of directors for the purchase of said
bonds within one month from the expir-
alton Of said publication; and at the
place, on the day and hour named in
said notice, the said board of directors
shall open all sealed proposals received
by il, and shall award the purchase of
said bonds to the highest bidder or bid
defs therefor. Provided, that said board
of directors may reject any and all bids
if they deem it TO the advantage Of the
territory; and provided further. that they
may reject any or all bids, unless security
shall be furnished by the bidder or bid
ders for The compliance with the terms Of
their bids, or If, In the judgment Of said
board, .uch rejection will benefit the
territory. Provided, they shall not, in
any event, be sold for less than ninety
FIVE cents on the dollar OF their face
value"
Specification IL charges: THAT they,
with undue haste, in violation of business
judgment and discretion, withdrew from
the territorial treasurer and forced upon
the marke, the entire issue OF bonds, viz,
SIos, 900, thus materially lessening the
chances to secure fair price for the
same; and providing money far in excess
of the requirements of the board, to the
financial disadvantage of the territory,
both in the low price secured for the
Bonds and the loss of interest on the
money necessarily idle on their Treas
ury."
In reply to this charge it is fact well
known by every body al all conversant
with the facts OF the case that the board
had negotiated the entire amount Of
bonds with II. E. Harris, gentleman
now living in this city and by whom this
statement can be verified. They were
10 be delivered to him in lots Of $40, 900
as needed, thus saving the interest to the
territory. but that on the repeated asser-
tons of demootatic papers of the bank
rupt condition of the territory and with
undue haste, in violation" not only. "of
business judgment and discretion" but
in violation OF The truth, as well on the
part Of the governor in reiterating these
statements in his official reports and
otherwise, the gentlemen associated with
Mr.. Harris in the east became fright
ened and declined them. This left the
board no alternative, but to try other
markets Specification five is brill
liant example OF the superior wisdom and
mind reading qualities of Arizona's act
ing chief executive, inasmuch as it is a
charge against the knowledge possessed
BY the board.
Eleven is gentle reminder Of the
days of the notorious Jefferies, charging
directors Hatch ard Lincoln with a
refusal ITO answer questions propounded
by the Honorary Board as the COVER
nor wanted them, preterring to use their
own language rather than his.