Los Angeles daily herald., 1890-02-27

AeoSo Souo.o sAoe ououutS IL We lake Into
consideration the financial standing of
the principal, which we think proper. il
would make the total about $500 900.
taxing THIS view OF the matter, we should
deem the bond sufficient"
M. Wirsching wanted to know
Wnether there was any provision in
the contract to the effect that the amount
OF the bond could be increased. There
!p.ssst De time when there would be q
million dollars on hand and the bond
ought to cover that amount.
The City Attorney replied that there
was no such clause.
President Frankenfield said that in
view of that fact he thought it due to
himself and the pubic to know just
what each man was assessed for.
Mr.. Hamilton did not think this would
bs exactly right, to give to the public
the figures. The assessment books we're
public property, and anybody could
examine them.
Major Bonsall said thst he though the
report of the committee should be ac-
cepted. The committee had examined
the matter and had reported what it
found.
President Frankenfeld said that he
had been informed that there were men
on the bond whose nameE did not appear
on the assessment roll.
Mr.. Hamilton said that there was one
man whose name did not appear on the
assessment roll. He was o bank presi-
dent, but his name was not taken into
consideration. The committee had
simply reported on the property found
opposite the names of the bondemen.
Major Bonsall called for the roli-call.
President Frankenfeld said that be
demanded the production of the state
ment.
Mr.. Van Dusen said that he did not
think the information as to how much
each bondsman was assessed should be
furnished to the public by the Council.
Mr.. Hamilton said he did not object
to showing each Councilman, but he
did object to the matter being made
public.
Mr.. Shafer said that the finance COM
mittee presented different report in the
afternoon from that in ;he morning, and
had not made a sufficient explanation.
He held that the assessment had not
been made at only half the value of the
property, and thought in his part of the
city it was fully as much as the property
was worth.
President Frankenfieid wanted to know
] whether the chairman of the finance COM
mittee refused to let him see the state
ment.
Mr.. Hamilton said that he did not
want to be understood as refusing, but ne
did not want to be the means of making
the information contained in the state
ment public. He would like to have q
vote on the subject.
President Frankenfeld said that he
did not think vote was necessary. He
wanted to zee the statement, and he did
not care what became of it afterward.
MIR. Wirsching said that the statement
might just as we'll be made public, as the
matter had been publicly discussed, and
the reporters would get the statement
anyway.
Mr.. Childress said that he had taken
the trouble to look at the assessment roll
and had found that the assessment had
not been for more than one-third of the
value of property. The Bryson- Bone
brake block was paying interest on $780,
600, and it was not assessed at any such
figure, the assessment being only $213,-
000 He also mentioned the property OF
Mr.. Frankenfeld, on Sixth and Broad
way, assessed at $1,000 and valued al
$40, 900.
Major Bonsall moved that the chair
man of the finance committee be re-
quested to show the statement he had to
those Of the Council who desired to see it,.
Carried.
The statement was then handed to
President Frankenfeld, who took the
floor and reading from the document
said that he found the following facts: