Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1890-07-08
FAILED IN FUNDING.
A Protest from Tax Payers Causes the
ToS,F, 4 N. Funding Scheme
to be Withdrawn,
Full Text of the District Attorneys Opin-
ion-An Early Morning Session
Equalization of Taxes.

The county board met yesterday at 2
p. M, Comrs. Sloan and WHY'S present ;
Mr.. MARTINEZ absent, sick.
The resignation of Thomas Smith as
constable OF precinct was accepted, and
Perfecto J. Gonzales appointed. Chas.
Bartholomew resigned as constable for
Cerrillos precinct, and 2. M. Crutchfeld
was appointed. The Sun presented a
bill OF $33 for printing the proceedings,
and the same was allowed. John Aliens
proposition to pay $50 in full for all
taxes due from 'S5 to 80 was accepted.
Sitting as a board of equalization the
following reduction of property assess,
ments was ordered
A. Pogue, s., $50 to $3.50; Simon Fill
ger, 81 ,2l5 to ,065; W. & l.. Spiegel-
berg, 81 $40 to 500. The board declined
to reduce the assessment of the San
Pedro grant, and it stands at $85, 900.
A proposition submitted by L. M. Nelly
asking the refunding of the county bonds
issued in aid of the construction OF the
Texas, Santa Fe & Northern railroad was
then read and referred to the district at
torney for his opinion thereon. The
board then adjourned till s o'clock this
morning, the session being called so early
in order that Commissioner Sloan should
be able to get away ON fishing excursion
at 7 O'Clock.
THIS MORNING SESSION.
Several very wide awake tax payers
were on hand at 6 O'Clock this morning
when the session opened. Commissioner
Martinez was still sick, and only Messrs
Sloan and WHY'S were present.
The railroad refunding scheme was
taken up. The proposition asked that
the original issue Of $3.50, 900 in per cent
county bonds be refunded at 5 I, per cent
together with the SIS 900 accrued interest
A separate proposition with reference to
that historic matter OF $4,000 interest
coupons already paid by tie county and
still held 10y the representatives OF the
railroad company. 1t appears that New
York firm, Moore & Schley, % Broad
street, held $500 of these coupons. The
county paid $1,000 OF them, but failed to
recover them, and Moore & Schley refused
to turn them over, holding them as secur-
ity for the payment of the remaining IS,
800 held by them. However, the Board
OF Trade and citizens generally, took the
matter in hand and under pressure from
that quarter, the firm did give up $4,000
worth of the paid up coupons, so that it
now holds only $4,000 Of those paid up
as security for the payment of the $500
not yet redeemed. The Nelly PROPOSE
ton respecting these was that if the coun-
ty would refund the bonded debt Of $685.
900 and pay IS, 800 in cash the $4,000 in
coupons held by Moore & Schley would be
given up to the county.
Appropriate resolutions accompanied
these propositions and it was only neCes-
sary for majority OF the board to vote
aye to fix it, but here came the rub.
When the propositions had been received
the following was read by the clerk:
A CITIZENS PROTEST.
To the Honorable Board of County Commission
ers, Santa Fe County, n. NJ
Gentlemen: We, the undersigned citi-
zens and tax payers oil Santa Fe county
respectfully request you to decline to re-
fund any railroad aid bonds of the county
until the pending litigation as to the valid
ity of these bonds is finally decided: