Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1889-01-11
LOCAL INTELLIGENCE.
MORE ABOUT COUPONS.

Judge ii. o. Beatty Makes Some Sugges-
tions Regarding Them.
EDS. RECORD UNION This morning Mr..
Porter called on me and stated that the
Bees report OF what he had said before the
Board of Trustees last Monday was not at
all correct in many respects. If Mr.. Porter
did not state what the Bee reports him to
have said, then of course those structures
are inapplicable.
had intended to make a reply to Mayor
Gregory's report of an interview between
him and myself last week. but as l only
have the Bees report of the Mayors re-
marks, l think it quite likely they may be
as incorrect as their version of Mr.. Porter's.
Indeed, | have long since ceased to expect
anything that the Bee says about myself or
the Fund Commissioners to be correct. |
will now endeavor to state some things of
interest to the people of this city.
| first showed to the Mayor that $50, 1S6
of the coupons of 1861 were not pasted in
the coupon book; that in the regular
course of trade they must have been all, or
nearly all, paid many years ago. That not
being in the book, they were liable to turn
up at any time and might again be pre-
sented for payment.
Onucl tncSe CIRCUMSTANCES L dSkeu MIN
TO make an order on the Treasurer not to
pay them if they did turn up, and not to
keep back money in the Treasury TO pay
them.
To this request he made answer that he did
not know whether the missing coupons of
1861 ever had been paid; that he would not
act on the matter unless l brought him
record evidence Of their payment.
Mr.. Wolf said he would not act on the
matter because these coupons were all
barred by the statute Of limitations, and the
Treasurer would be liable on his bond if he
paid them.
Mr.. Ryan, after the adjournment, told
me be thought some action was necessary
for the protection of the city, and would
act in the matter if the other Trustees
would act with him.
Last week L went to the Auditors office,
and found the entries of payments of
coupons in 1861 amounted TO fraction IN
der 5000. The whole amount of coupons
for that year was only $500 and some odd
dollars. So here was what / supposed to
be the Mayors record evidence of the pay
ment of at least ST. 900 of the $50, 900 miss
ing coupons.
took an abstract of these entries to the
Mayor thinking that with this record he
would no longer hesitate to act. But
found him altogether indisposed to take
ana further action in the matter. This
CONVINCED me he was evading the whole
question and jeopardizing the city S interest
This brought On some words between the
Mayor and myself, and | started to leave
the Office and he requested me to come
back. l returned; he took down in his
own handwriting the abstract from the
Auditors book, and said he would COM
pare it with the book and take action on
the matter. l left the office perfectly salts
fed that the Mayor would act and that the
city would be protected from any loss BY
reason of these 81 coupons. But it seems
some influence was brought 10 induce the
Mayor to change his mind think N.Y.
self may have contributed towards this
change. Thinking that the Mayor had
concluded to do something for the interests
of the city determined to make an effort
to get him to do a little more.
drew up three orders-one to protect the
city from these 1861 coupons, one to d.
rect the Auditor to procure proper stamp
and stamp the date of payment on all cou-
pons paid in the future; third, an order to
make Mr.. Gerber pay out the money (about
S70000), belonging to the sinking fund,
which he now holds in the Treasury. /
handed these to the Mayor day or two af-
ter the first interview mentioned, and asked
him to consider them before the Trustees
met.
The first proposition was a very simple
one, to protect the people against the posi-
BILE, if not probable second presentation of
the 81 coupons, and to prevent Mr.. Gerber
from having any pretext for holding back
$4,000, to see if he might not have to pay
them in case they were presented.
The second one, about dating cancella-
ton, was something the Mayor himself
suggested should be done. / merely put it
in form.
The third one was precisely such an order
as the Bond Commissioners persuaded the
Trustees to make in the tall of 1887, under
precisely similar circumstances. But that
we should ask him a second time to make
the Treasurer pay out the money where it
belongs seems to have greatly astonished
the Mayor. In another article ] will try
and explain how and why Mr.. Gerber
keeps $4,000 tied up in the interest and
sinking fund, large portion of which
rightfully belongs to the Fund Commits
sioners, and would now, if Mr.. Gerber
would pay il over, be invested in city bonds
and future coupons az so cents on the
dollar-bonds and coupons which are ris-
ing every day in value and which the city
will eventually be compelled to pay dollar
for dollar if we are not allowed to buy
them up. H. o. BEATTY.