Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1889-12-06


debtedness, principal and interest, should
be converted into securities bearing less
'tte of interest than per cent; therefore
be it
Resolved, and it is hereby ordered, That
the aforesaid bonds and coupons past dne
and unpaid, and the coupons that will fall
due January /, 1890, amounting in the
aggregateto $l6S, 370.75, includinginterest
on said banance so advanced as aforesaid
and on the coupons from the time they
became due, be and hereby are ordered to
be exchanged and funded into and for the
bonds of this county with coupons at
tached pursuant to and in accordance
with the provisions of the act of the legls-
lative assembly OF New Mexico, approved
February 20, 1889, chapter 1875; the said
bonds hereby ordered to bear interest at
the rate OF 511a per cent per annum from
January /, 1890, and to be issued to
the holders of the aforesaid rail- DAD bonds
as the same may be presented for ex-
change and funding, OF denomination of
$1,000, each and commencing with num-
Der liz and continuing consecutively to
number ga inclusive; it is further or
dered that for the fractional amount of
$375.07 bond be issued bearing like in
terest with the others aforesaid and from
the same date.
And it is further ordered that the chair
man of this board, j. H. Sloan, be and
he is hereby directed to sign said bonds
and coupons as directed and required by
said act, and that the probate clerk of the
the county of Santa Fe and territory of
New Mexico be and he is hereby directed
to sign said bonds and attest the same
under the seal of said county, as required
and according to the provisions Of said
acts, and that all and several the acts re-
quired for the correct issue and delivery
Of the said bonds and coupons be COM
piled with.
And it is further ordered that the treas
urer of said county be and he is hereby
required to sign and indorse said bonds
and coupons as required by the said acts
and laws of the territory, and that said
bonds and coupons when issued and
ready for delivery be delivered to the per-
eon or persons who shall deliver to the
clerk of this board the warrants and
coupons in lieu and in place OF which
said bonds and coupons are issued afore-
said. Accompanying the above was this
also:
Whereas, The county OF Santa Fe has
outstanding bonds for the amount of
$l50,000, issued to the t., S. F. & N.
railroad company, in pursuance of law !;
and, whereas, said bonds bear interest at
the rate OF per centum per annum, and
it is judicious and advantageous to the
county to convert said evidences Of debt
into others bearing less rate of interest !;
therefore, be it
Resolved, That the holders of said rail-
road bonds be and they are hereby in
vited to fund the same and the interest
due and unpaid and to fall due January
l 1890, into bonds of said county, OF the
denomination of $1,000 each, bearing
|51a per cent per annum from the LIST day
of January, 1890, and to become payable
years from said date.
After considerable talk Mr.. Wyllys said
he would decline to act until Commits
sioner Martinez could act with him, and
the matter went over.
This morning the board reassembled at
10 O'Clock, all the commissioners being
present.
Gen. Nelly again brought up the fund
ing proposition and the second of the
above resolutions was read. Comr
WHY'S asked for Col. Smith, the railroad
company's attorney, and was informed
that he had gone to Las Vegas, but ex-
pected to return at noon. He then said
he had since last evening secured some
important information touching this sub
ject, and that it would be necessary for
him to confer with the railroads attorney
in person before he could act. The chair
man of the board and Gen. Nelly both
asked to know what this information was,
but Mr.. WHY'S declined to divulge. Gen.
Nelly said that his people were there to do
the fair and just thing by the county that
they did not come as thieves, and he
wanted everything done openly, yet with
dispatch; that if there was anything
wrong about this proposition to fund he
would try and correct it,
81 would like first to see Col. Smith"
said Conn. WHY'S. at seems to me-"
he continued, "that Col. Smith occupies
rather peculiar position in this matter,
anyway. He is one of the attorneys for
the county in the Coler case, and is also
attorney for the railroad company whose
bonds stand much in the same light as
to the Coer bonds"
And you say the T., S. F. & N. Sc
curities are similar to the Coler bonds? ?"
inquired Gen. Nelly.
I'm some respects l think they are"
responded Mr.. WHY'S.
Mr.. Martinez said the county held
$4,000 worth OF IT,, s. F. G. N. stock,
and he wanted to know how that would
be affected if these securities were fund
ed. Finally the chairman put the ques-
ton, and both Mr.. WHY'S and Martinez
refused to act for the present, hence the
matter was declared postponed.