, 1891-09-22
THE NATTER SET RIGHT.
Unwarranted Insinuations Disprored
DIV the Record.

To the Editor of The Leader.
The following appeared in the Sun
Sept 10:
1T was also an evidence of retrogres-
sion when Mayor Bresnahcn gave his
individual endorsement to the banks so
that money could be raised to push the
yiaduct improvements this year pending
the sale of the bonds. THE LEADER.
In the above it is omitted that all the
councilmen except Mr.. Richardson, who
gave a valid excuse, were upon the paper
with his honor.
III the mayor wants to trumpet the fact
that he endorsed. it is his gaFious privi-
lege. but he should be the last man in
town to mention sale of bonds. He
started to market the goods on the wrong
road and nothing was accomplished until
the matter was taken out of his hands
and ex-Mayor Riner engaged to place the
securities.
The above is a reflection which Is not
warranted by the following facts in regard
to the sale of city bonds.
Advertisements were inserted in East
ern papers announcing the sale of bonds,
but owing to the stringency in the money
market the bids received were such that
the city could not accept any OF them.
The mavor and finance committee were au-
thorized to negotiate the sale of city bonds.
L was authorized to draft a circular letter
to be forwarded to bond purchasers, which
l did, and in return received several COM
munications looking toward the pur-
chase OF bonds. A letter was received
from the Travellers Insurance company,
Hartford. Conn.,, asking for information
which l answered and gave a full de-
scription of the financial condition Of the
city. On April . | received the follow
ing answer:
We are sufficiently interested in the in
vestment you offer 20 have the examina-
ton made and if you will send copies of
the papers desired we will promptly sd-
wise you whether We will take bonds or
not.
and in return l received advice. April 2,
stating, "Will take water bonds. See
correspondent who will visit Denver i'm
mediately." This virtually closed the
sale of the water bonds, with several APP
plications on hand to purchase the viaduct
bonds.
The same day Mr.. Merrill, chairman
of the finance committee, received a tele-
gram from Senator Carey. stating that
L,,H. Taylor & Co. of Philadelphia, Pa,
would take the entire issue Of city bonds
at one b alf of l per sent premium. All
the city papers announced the sale n L
stopped all correspondence.
Mr.. Watson, agent OF Taylor & Co.,
scented but 1t took the city two months to
find out that Taylor & Co.'S agent was
only out here for his health.
The latter part of June G. W. Riner
was going East. 1 told him to call on the
Travellers Insurance company and see if
their proposition to take the water bonds
would hold good. I received a telegram
from him stating the Travellers Insurance
company would take the water bonds,
dated July /, and a letter from the COM
pany stating that the matter was referred
to their counsel. 8. G. Durham, who was
then in Denver,
| took the first train for Denver and
arranged all the details, form of bond,
etc., and ordered the sos, 900 water bonds
printed. to date Aug | in place of July l
as first agreed upon. L also opened cor
respondence with the other two COM
psnies tina. bought the $35. 600 viaduct
honda and got than tn oonaant IN bava