Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1889-02-09
AN OPEN LETTER.
THE OPINION OF MEsSRs. TAYLOR
AND Holt REYIkWED.
Must the City Treasurer Hold Funds
for a Creditor Which lie
Refuses to Accept?


duties and obligations SIS Treasurer. So
far as that opinion concerns Mr.. Gerber
alone il is q matter with which i have no
concern, and SO long as 1t rested between
you snd YOU client, it would have been in
exceedingly bad taste Cor me to ~criticise it.
But hr. Gerber brings it before the publici
to sUstain him in what l consider G. high
handed outrage on the rights of taxpayers
Of Sacramento.
I therefore clsisn the right to ~coranleat
On that opinion and point out, if can, any
errors or mistakes therein. dc this IL no
carping OF unfriendly spirit. I have al
ways numbered the members Of your firm
among nv earliest and best friends il Sac
ramento. and have full faith that you will
Justly appreciate my motives in this COM
munication.
The first point in the opinion to which
wish to call your attention is il these
words I" We think, however, 1t II. pelfectly
clear that the coupons which mature on the
LIST day of January ofany given year must all
be paid ing italicsl before you are author
lied to pay any that matured on the sue
ceeding Or subsequent years Let us see
how this, literally carried out. would oper-
ate. On the 1st day of June, 1887, there
was money enough in the sinking and in
terest fun to pay all outstanding coupons
of 1876 and 1877, and of all older coupons
then outstanding. During the season OF
1878 say from June, 1887. TO JuLe, 1888,
most OF the coupons of 2676 and 1877 We're
paid. But Samuel Davis presented S34,-
S66 OF these coupons and demanded of the
Treasurer that he should pay them with
rrhaf 10 .o1afD,nd urac tho - nfnlcfaI in
terest thereon. The Treasurer offered him
the face of the coupons, but refused TO pay
the interest claimed. Davis refused to
accept the interest. There were also a
little over IS, 900 of these 1876 and 1877
coupons that have never been presented
and doubtless some OF them never will be
presented.
According to the literal meaning of your
language. Mr.. Gerber could not legally pay
out a dollar of money OF the rs and '79
coupons, although be has received more
than a 500. COO in the sinking and interest
fund since MIR. Davis presented his coupons
and was offered the rooney on them. And
if Mr.. Gerber should hold the office for
eight or ten wears longer until he had accu-
mulated Il million of dollars in the interest
and sinking fund, still if Samuel Davis
would hold out in his refusal to receive his
S34 S66, Gerber could hold on to the million
of dollars and make his 100000 or $4,000 q
year leaning it out.
Du', 80 W.. 80 M 10y,
NN W. $3.50 - 1Na-N
~ say MI Io3e oHs 20 pag.ns y non?s
on .ne 100 auo foooepJn 10. Gee a.
IN ~ o NJ 80 a. * noo - -
never been demanded.
But Mr.. Gerber seems to be acting on the
strict letter OF your opinion with most all
b SAespt ~ ~ To-nai~a;1SaH.
anp nov W. 4 -. ;ntn-SnGe4s
nSnSS 1aAen a anS - NE ~
1890 ooorSnn ~ NJ d..
e 90. - $1,000
nrTooe y 49,, ~ 4hnD1oih6 TIoapo-e
~ t9oo !. 49, e.oaa - SaiSony
y q n ~ ono W. $500, ne nc % nnHS
Do $500 So',UJo aPp - ~ 9 = 'I ~ 49,
Cesna VIC. II I 81
S1In Tx las Soo ~ pHr 20 esosse'
go and Si o0an " TIC Ta7s hotween I TJu
pOSs auS $500 100 t.nt ui!,
80 = ~ ~ ~
aun ,o1o mn ;Sno S"a I'm VI
snt oa9 ~ 10, io'0 Coupons "a ~; - na aiEass
eM ~ egE 600 - 500 600 t tnAns iu ni
lou aooue 4oo,ooV 70 @oo,oVo "a NC iesal
urpose accor1lng 10 your OPINION, except
~ pay InIs 49, u :. eoupohs.
! WISH 10" " ie.ei ut9 Po!eion the
uprn aoao mn az ,boss orsnn smkn SSouponsaa
:ou speaA u tnosG pe,sns VIZ TLnsn
nen an1 1890 !" hneie nas
out ore person. loanuei lawns "no ue-
anu nls 7 an4 iI.eiest, aiu re
Iuseu lns moues 'enueieu. III reierflng 70
:ni POI u youi no. u quH'e as
- - etneutet aHN ~ NC P.uiA hou
say ~ enect ~ y not sIeepus On MS
iients' ne X eAetti1S niulsel y we usnoS',
~ 1n,y " 49, Ns ~ pe
Lue ouI also messy 'he Same. LINK
ms - haiuIy pIopeIts eAPaesseu: ne Is
eeI'lns " ~ u'Host - eel
lh.eress on ms coup3hs oue Ne Is not eA-
e.ns nn1se1.u - $500 " o3upGns:
on the oohtIasy, Ie ieLuses ~ teIeiVe taat
Wheh IL IS one,eo 20 MN ne keeps the
oupon IN ms uanS1s lor we apparent pur-
pose OF .tylng 10 lolce me Iiessurer 10 an
Hlegai ac', mat IS 70 pay nun interest. Inc
supreme court, N me case 0i PAWS vs..
rolter' oeciusu II %ouiu o { i.seai tor the
treasurer 70 pay HS interest. loee; 90
Sall p 900 Aneh' On "hst principal OF
law, IN lustcei eau Jaws De any better on
aiteT navlns plese~1eu hS ana
theh Withdrawn mem Aor a iliesai pnr-
POSE, tnah II tney hAu never oeeh pre-
seHteof
Q say ne 1ehoe Oh money ana me
refusal oil me psyee 70 receive lhe same
1oes not eA~,iheulsn tne oeo':
put II the tender is Keptgooo II wlii stopln-
terest on the oeot nhese are tTulsms, u
taey nave 70 apPhcsuoh 70 me iscs OF
inis case. II Dasls pau eueu LOT tne S9f'ooo
IA win interest rom the uay OF
the uenahu haoe, tneu tnese maAlms
wouid nave peen epphcaoie. Inc tender
wouiu not nave prevented niln rom secur-
ing judgment iof me $Saooo II ne was
otnerwise ehuheo 70 II put II wouiu, IL
Properl pieaeeu' nave prevented MIN rom
recovering luogtnent ior either COSTS or m
teiest; bo1 Davis never SUED the CITY Tor
tnls So5 coo IN ~ ne sueo tne city
lot soo,Uoo damages TOT naming n It's duty
ID respect 10 ieVying taxes lot the SINKING
ana interest iuha, ana ne retained those
coupons IN MS possession no doubt
because ne thougnt WIN those cou-
pons Ia hsno ne would make 8
stronger case, and ne more certain OF re.
covering, or else recover heavier damages Il
ne heio these coupons In MS own hands
q a ne delivered thefnsnp and got his
money. Inc tender on money to pay con
pons cannot auect the rights OF Davis to
recover canages' III lteesald these damages
are ! another name Tor lnteresr. 1t IS the
same tRihs; Davis is CT IS not entitled TO
interest on nls coupons II he Is entitled
70 interest then the tenaer OF ihe priDcipsi
AiOUt Is not ROO0- because If WQG mot