The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-06-10
The Bonds are Signed.

The city council met in adjourned session
in the city hall at IL 80 a. m. yes terday Il
complete the big bond question. Mayor
Turner in the chair.
On call of the roll Councilmen McManis
Spencer, Graves, Calvert, Shurtliff and
Cannon were found present.
Councilman Cannon moved that a com.
mittee of three TO consist OF the mayor and
two members of the council, not members
of the finance committee, be appointed to
investigate the whole matter of the recent
negotiations and sale of city bonds and re-
port their findings to the council, including
a showing as TO the amount of commissions
as 10 sale of said bonds, and by whom the
same is to be received. The motion carried
and Councillors Lundy and Dee were ap-
pointed.
Councilman Shurtif asked 20 be informed
if the bonds had been received by the lin
ance committee, 10 which Councilman
Graves, chairman of the committee, replied
that they had. Mr.. Shurtliff then moved
that the mayor and city recorder be re-
quested TO sign the bonds.
The mayor thought each member of the
council should investigate the bonds and
declared recess of five minutes.
Councilman Spencer offered to amend
that only 81, coo of the bonds be signed by
the mayor and city recorder at present and
placed IN tue uanuS Oh the cnalrmdn Oh the
finance committee.
Councilman Dee who came into the coun-
Gil chamber a few minutes previous sug-
gested il the bonds were to be sold they
should be signed and placed in the hands of
the city treasurer. he being the only city
official under bonds Of such large proper
tons to handle any Of the city's treasures.
The recorder stated to the council that in
face of the contract he felt obligated in
Coz hot no ri " yra
faithfully carried out. He said he would
sign them and turn the same over to the
purchaser as soon Is the money was paid
10 him, as the contract stip-
ulatea, and unless the contract was re-
scinded, he would refuse to deliver the
bonds to the chairman of the finance CON-
mittee, city treasurer or anyone else other
than the purchasers of the bonds.
Councilman Spencer was willing that the
mayor and city recorder should Cooperate
with chairman of the finance committee
and turn the bonds over TO the city treas
urer after they were properly signed,
which was carried by an aye and nay vote.
A vote on the original motion was taken
and carried six to one, Mr.. Dee voting no.
Councilman Graves then moved that a
sufficient amount OF the first money re-
ceived be appropriated to pay the notes
already due against the city with the &C
crued interest, and that warrants be drawn
for the same. Carried.
Mr.. Cruise, the agent Of the eastern firm
buying the bonds, and who made the
contract with the finance committee, was
present and made q statement concerning
his experience in purchasing bonds in diff
ferent places in the northwest, but did not
say his bargain in the bonds Of Ogden City
was poor one.
Councilman Dee said that he was of the
belief that the finance committee had gone
beyond their power and that the bonds
could have been placed to a better advan-
tage. On whole he was of the belief that
the city had made very poor bargain in
them. And further than he thought
for the reason of the hasty action of the
city council the board of education could