Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1888-04-05

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n WILL 90 AA1AA
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fss6s b ~ ss1sna.1fng inAshen1snI
aad te pssvtds fos Ne UsvDsnt q ~
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DR. vAieA ~ eounSy esunsiuuiopes
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y, eoeenioo os0s eeoyt1iona UAioA v11l
essvsst Ne eoanttn ffuo estoytne tie
fuu osoa13 q thsfs ero6is. ID via b
Ismo0ooeod ~ e01aty ou0niu1onasl
desirod - t0ss bonds se4ss0abie u
ssn yeoED - within thirty yeasa. u y
Seti knsU8 f1ss tAnt thirty yoas b1ads
VII eD01snd Q hlehss pso9ia0 u IL
Oarkoe t6oa ton yeoR boo6n. Bat
01ouj1 to oOOD1111econ iO1e TIE ten-
shiSty bocda, they voeid b. bid Tor on
tbs hosis of bstns sswpty oon rear bouAs
o1d the pssDino vo111 b oun9iAssahly
smat1sS, % abous to Ger eeua.. h the
opinion of Oea tn6WDsd - 20 ~ seIs-
tive vslas Of boods iosasd foe ona and
shcrb tss0s ef ysaxa Tue reaooa Vhy
. tsn-th.fty bond woold Be Q aesod si0-
oily - tee yeas bad may Be found ID
sectssns thfUe and four Of the pev iaV.
1ha sections ase q fellows.
Section B. Ten yoors hsfoee tbs said
osE6s stall b<cone due snd payable
the cOunsy conmsssj0nefs Of ths ooouty
tssuiua tte0 are hssoby aathosissd and
required annually 10 levy . tax suf
hsteat 10 liquidass The nd bonds ~
nssufity; s0oh TAI 10 b eollsesod and
keps - sspsraes fusd 10 liQaidsts shs
said boros N aesosdanes with The fol
lowing section:
ssolion l. Il shall Be- Us dssy Of the
treasure. vheoave3 be hoa ne.
90 hand the sam Of SOD Of the spssisi
fond fnteaded 20 Gay aid bouds, TO sd-
yefsiee. DO, aod redeem bsuds 10 the
amount Of the t9ooo. By Q procedure
laid down IN the iAv.
The eject Of this section viii psacti-
caliy be 10 make the bonds come due
ten yezfs earlier than their fsce vocig
indicate. for whenever The eoaatJ vsaid
bsRin paying tie bonds q the rata Of
t0o0 year tie bonds would not be Q
desirable holding. Anyhov u ten
thirty bonds we're Issued the eounty
would have the night 20 redeem Ill Of
the is1oe after ten years had explred,
and Of course capitalists would bid fos
then not il The light Of the possibility
Of the bonds running thirty yeasp. has
In the light of the fac, that the beads
might be called in after they had run
ten yesrs.
jacob Furth. cashier Of he Puget
Sound National Bank, vao = familiar
With such matters. aid yesterday that
he thoaght straight twenty year bonds
would be preferable 70 the proposed
en-thir.y bonds, but snder the present
law such bonds could not be Issued. |
essaighs twenty year i've pss cent
bonds woald command O premium of |
about I &c, while ten year bonds would
bring 1l02.
"Would it II bs advisable 10 issue
bonds under the present iaw and sacsi- |
ace the Differences in the premium, or to
defer funding the debt until the Law 10 |
ssended," vAs aaksd Mr.. Furth.
ia my opinion" replied Mr.. Fufth, |
III would be best 10 defer funding the
county Indebtedness until the Law 10 |
amended With respect 10 the objections |
which have raised to lie terms, % the |
time Of she meeting Of the next leRis-
laturs has been 6xsd In January next. |
We're she Law 20 framed that the bonds
Q aid be issued payable at Q given time,
leaving ont the Questionable features
Of redeemiuR them In 5000 lets, the
bonds would undoubtedly be sought
after and bring much larger premium
than under the Law % IL nov stan3s-"
Chairman Allen, OF tbs board Of coun-
ty commissioners, said yesterday that
the objections raised to
the law, the commissioners will 20 90
and fund the county Indebtedness.
ITO pos.y ,ne the funding Of the |
county Indebtedness" said Mr.. Allen, |
"xonld mean loss 10 the county OF
atcot 8 yesf's interest. {st ths excess Of
fiys per cent? or about 5000. Anyhcv
are not always the most re-
liable bodies IN the wsIld when il comes
TO Law making. II might not amend |
tho Law. Tnep, again, Il might repssl |
IL. We have about made up our minds
10 Issue honda for 6).Oco 10 run twenty
years, and also bonds for $40 010 TO
rus thirty years. BY this plan We Gao
enjoy most Of the advantages With fe-
spsct to premiums"