The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-09-05
1t Will Report in Favor Of Advertising the
Refunding OF Bonds, Directing that Propo-
sitioDs BE Sent TO Dir. Rassmann.
Rassmann Refutes the Charges in the
Controllers Recent Interview.
A Squabbls That Is Likely to Disrupt Local
Democracy-Bids to BE Orened 0ct. 10
Massachusetts, Avenue Pavement.

ink ~ II OOuuCiis w kClunu tno liz .
bonded Indebtedness. Those present were
Messrs. Rassmann, Costello, Cooper and
Casper. The three other members of the
committee are Ryan. Sherer and Laut.
After going over the two pr0positions-Mr.
Ban6Ips and the one submitted by the
N. w. Harris q Co. agency, of Chicago,
through the Frenzels-the committee drew
upsa report. which will DO submitted
to the Council at q special meeting to be
held tomorrow night. A meeting would
have been called for this evening had it
make a unanimous report, and will recon.
mend that bids for %refunding the city's
bonds shall be advertised for in at least
one New York financial journal and In the
Indianapolis Sentinel; that the bids shall
be opened Oct. ID, and shall be addressed
to Councilman Rassmann, chairman of the
finance committee.
This may not be q legal procedure, and,
In fact, Is not, as all propositions must go
before the Controller. but the committee
Will make that kind of q Recommendation,
regardless of results. IL is understood. also,
that the report will be signed by each men,
As the Journal stated some days ago. Mr..
Woollen's Understanding scheme. which
he expected would bring him 50 much un-
alleged glory, has brought him nothing but
heaps Of troubles; and it bids fair not to
least, disrupt the local Democ-
racy. The situation at present Is
about this: Mr.. WoolIen stands by Mr..
Banflrs proposition. which he recon-
another proposition had been submitted,
and he is being supported by the late May
or. Thomas l.. Sullivan, more or less ably.
On the other hand, Mr.. Rs,smann believes
that In order to secure the best results the
reminding scheme should be advertised and
seem to indicate that the Council
intends to stand 'Ly him. In
case some truce is not soon
patched up that will enable these two gen.
tlemen to again tread the halls OF harmony
together there is no telling what may hap
pen. At the Council meeting tomorrow
night there will, no doubt, be q lively time
when the report Is read. Mr.. Woollen will,
no doubt. make o speech. and In that event
Mr.. Rasamann will reply to 1t. Mr.. Rass-
mann was seen last night by o Journal re-
porter and readily consented to give his
side of the story of the events leading up
to the present unpleasantness. Said he:.
Mr.. RAssMANN's STORY.
81 think 1t was two weeks ago last
Wednesday that l was ~telephoned to meet
with Mr.. Woollen at the Mayors Office. at
10 O'Clock. / started to the courthouse
about $50 and met the Mayor In the base
ment, and told him l understood he wanted
me to meet him anu Mr.. W00llen In his
office at 10 o'clock.
Well. you're too early said the Mayor.
It's not get 10 o'clock
Il said. All right; l have some business
upstairs and will be down here at 10
o'clock l came downstairs probably ten
minutes ahead of the appointed hour and
walk ed into the controllers Office. where
Nv UAnlfon NO fAfl him L undaraFnnd
he and the Mayor wanted me to meet with
them at 10. He invited me TO sit down and
pulled some papers out of his desk, which
were the same papers that had once before
ing the proposition of MIR. BantilI.
and We discussed it. He said he
now had the opinion of the city attorney
and was ready TO 20 ahead with the scheme.
/ then told him that when this matter
was before the finance committee last
spryng the papers had published the fact.
and that at that time l had met Otto Fren-
eel On tho street: that he told me he had
seen by the papers that the bonds were to
be refunded, and requested that when the.
matter was definitely settled on he
should be given q chance ut il. and asked
me to notify him. | told him that when We
got ready to refunu the bonds / would be
pleased to let him know. / then said to
Mr.. Woollen that | would like to have him
give Frenzel o chance, SO that my word
would be made good.
'"Oh, they can't handle tits not their
business.' said Mr.. Wooilen.
81 told him | didn't kn0 whether they
could or not, but they had requested to be
gwen a chance and thought they ought
to have 1t. especially since 1t was a home
institution"
."Weii, I'll see them said Mr.. woollen,
and they shall have q chance at it.
Il then looked at my watch and saw 1t
was 10 o'clock. said, Well, let US 90 into
the Mayo r's Office Mr.. Wool.en told me
to go ahead, and that he would be in in a
few minutes In the Mayors office l sat
down 10 talk to the latter for q few min
utes when in walked Mr.. Woollen. Mr.. Ban
| fill and Mr.. Chapman. Afew mlnut later
City Attorney Bailey came in. This was
the first intimation l had that Mr.. Banfll
was in the city. We sat down. and MIR.
Bantill handed to Mr.. Woollen the proposal
for refunding the bonds. MIR. Woollen
read the proposition over carefully aloud,
and we discussed the different point and
legal questions until noon. After we had
gone over the proposition thoroughly Mr..
W0ollen turned to the parties present and
said.
"'N6w. gentlemen. you are all In favor of
this-you are all with me. are you not'
And you, Mr.. Rassmann, alsoP
Il said l was (referring to the refundlng
schemel, and that, in fact, the entire CO ! =
mittee had assured him of the same thing
several months ago; that | didn't know of
q member of the Council who was opposed
To it. While Mr.. Weollen and the other
gentlemen were engaged In conversation
leaned over TO the Mayor. who sat TO my
left, and whispered to him that / thought
there was one weak point in this whole
thing. and that was that We had given no
other person h chance TO figure on the
schemes that i thought we would lay our
selves open to criticism for that reason.
"'Oh, that don't cut any figure said the
Mayor. We are saving the city s42.C0O
and / think We are doing pretty WELL
WANTED THE MEETING CALLED.
After the meeting / todd Messrs. Ban.
fill and Chapman the same thing. Then
Mr.. Woolien wanted me TO call the com.
mittee together the next day, and arrange
for 6 special meeting of the Council the
same eyering. the evening following. or nc
soon rs possible, In order that he might be
authorized to cloee the negotiations with
Mr.. Bantill. i told him that i would &c,
the members together as soon as possible.
After the meeting | went To- Otto Frenzel,
as l had promised. aud told him to see Mr..
Woollen ut once If he wanted a chance al
the rcfunding scheme. He told me he would
have TO have a little time and asked
how much we could give him. l asked him
how much time he wanted and he said az
least two or three DAYS. ] said the com.
mittee would wait on him that long. That
night Mr.. Frenzel went to Chicago and
called on N. w. Harris IL Co., one of the
largest bond houses In the country. He re-
tn rned the next night ready TO make a
proposition. but IL was not. possibly. IL M
good shape as it might have been from the
fact that he had not, like Mr.. BaniiIl, had
the assistance of Controller Woollen and
the city attorney in drawing il. The next