Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1891-09-14

the county of Santa Fe are now approach
ing very momentous question and they
will have to make up their minds upon
it very soon. The question is: What
shall they do to extricate themselves
from the embarrassments attending the
bond litigation which has lately ended
unfavorably to the county in the supreme
court? 1t seems to me that choice must
be made among three plans Of action.
First: Persons of wealth who are will
ing to secure the judgment in favor OF
Coler by going on bond to stay proceed
ings might secure this stay, pending an
appeal to the supreme court at Washing
ton; that would gain delay for the
county, but would involve quite an ex-
pense and personal liability of those
going on the bond. The district court
and the supreme court here have declared
against the county, and it may safely be
presumed that the supreme court of the
United States would do likewise, for it is
certainly too late to make out better
case before that court. The litigation
has already cost the county about $780,
600 in lawyers fees and expenses, and it
may safely be presumed that the same
lawyers who have already gotten nice,
fat fees for losing the case are willing and
stand ready to take more nice fat fees for
being again defeated.
Secondly: The county can make an
effort to compromise the debt on long
bonds and lower rate OF interest.
Thirdly: A tax can be levied TO pay
the judgment of $4,000, a mandamus
directing the county commissioners to
meet and levy this tax having already
been issued and served on the board last
week.
L have investigated the matter some
lately and will give through the columns
OF the New MEXICAN my views of it. |
came to New Mexico before the railroad
and speak from personal experience as
well as the records. 1t seems that the At.
Gibson, Topeka & Santa Fe Railroad Com
pany
ORIGINALLY INTENDED,
as stated in the charter of the local com
pany, the New Mexico & Southern Paci.
tic, to build two roads into New Mexico
one beginning in Colfax county and
running to 1sleta, on line far south OF
Santa Fe; the other leaving the first line
at San Jose or vicinity, coming to Santa
re, and thence gong to Albuquerque and
Joining with the first line. But, upon
some engineering pretext, about difficulty
IN working through the mountains on the
east, the company determined to build
only the first line, and leave Santa Fe
out in the cold. Then, committee Of
citizens went to Boston to expostulate,
and Governor Anthony came here and
had conferences with leading citizens; ex-
planned in his way the situation, and
stated that the best the company could do
Tor Santa Fe was to operate branch, if
the citizens would build one, or else to
build and operate the branch it.
self, if the county would aid both the
branch and the southern line by voting
$3.50, 900 bonds.
Nearly all the leading citizens agreed
to these terms, and so the proposition was
submitted to the people by the county
authorities on written request of Arch
bishop John B. Lamy, Vicar General
John A. Fruchard, Will Spiegelberg,
Noa llfeld, j. G. Schumann, j. L. John
son, Lehman Spiegelberg, Jose B. Ortiz,
Louis Gold, A. q. Irvine, Ramon Padilla,
Sol. Spiegelberg, Adolph Sehgman, Her.
man llfeld, Romulo Martinez and Will
liam W. Griffin.
The county commissioners and probate
judge
CALLED TWO ELECTIONS
under this request one to consider the
proposition of $7l 900 aid to the east and
west line and the other to consider the
proposition of $4,000 aid to the branch
line. The division OF the amount into
two separate parts is considered by many
OF us to have been mere device to avoid
question as to the power of the county to
vote $l50,000. Whether there was any
thing wrong about this or not, there was
certainly no fraud or secrecy, for the pro
positions and elections were open and
above board and promoted by almost
every influential citizen of the county.
IL tLilo VOC NlOIlS lllC tOulb5 W. 70
open to any agrieved citizen. This was
about twelve years ago.
These bonds were voted, signed
and then issued by Antonio Ortiz
y Salazar, Abraham Stab, William
H. Manderfeld, commissioners Jose A.
Ortiz, probate Judge, and Luciano Baca,
probate clerk. They were floated on the
market; upward OF 100000 interest was
paid on them, and perhaps $50 900 le-
Wed; but much of the interest collected
has
MYsTERIOUSLY DISAPPEARED.
Mr.. Coler bought the bonds. In 1885
he sold them to bona fde and in
nocent purchasers in England
and the United States. The NUM-
cipal Trust company of London bought
nearly half of them. When he sold, he
retained such of the coupons as were
overdue, and, since, he has taken up
numerous others, according to the GUS
tom of his bank in dealing with it's
clients.
1t is well known that his banking
house raised the 100000 to build our
capitol, and that when this money was
sought our prominent citizens generally
gave written recommendation of the
railroad aid bonds, SO that he could more
readily dispose of them and thus be
enabled more convenient to buy the cap
itol bonds.
was mortified when | saw this letter
among the papers. 1t was no doubt
signed by most of us hastily and natural
ly passed from our minds, but, being
written representation that has been
acted upon in good faith, to the extent of
causing $4,000 to change hands, we,
as honorable men, must stand by it.