New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-01-10

lions rs small a. 300 the CITY Controller believing
that Newark residents OF small would be glad to
obtain such security. This is The first application
hero Of The French system Of issuing bonds OF small
r n9n w e msnal Lc , a hond on n, ,nynl
h"nt only. such bonds Dir. Frederic Cromwell
treasurer OF the Mutual Life. describes bonds you
don't need to lie awake nights over "
Does this list OF purchasers represent all the big
buyers OF bonds
1t Is not complete list by any means 1t IS
merely suggestive. There are many big houses
whose names find bidders for nearly every choice
luln. could give you list OF four hundred or
more OF investors IN municipal! bonds tf could In
H.. I'm, we have scvepa hnndvei OF Them. large and
small, bankers. lawyers, and private capitalists rs
well. The ht class of large Investors wish to know
where To buy in bulk: and the latter where To apply
10 successful bidders for fractional part at the
slightest possible advance in price,
You say You get some amusement out Of these dry
official reports"
"occa- ionaly,' was The reply. They have some
very funny fnancers In tie country towns. A short
time ago there an exciting debate in the Common
Council Of Dallas Texas. the disposition OF city
bonds to the amOnt Of 100000. which had been
printed rcdccmablc at the New-York security and
Trust CO.. New York City. one speaker with m eX
aod idea Of Dallas financial centre to which the
mOncycd men Of the North and East would delight to
rush 10 collect their scmiannual interest, Insisted
that the bonds should be made payable mt home ana
should be held by the City Treasurer until the money
for them was brought to him at Talas. lie argued
with mach emphasis and loud vOdferation that II was
dang erouS cntrust city bonds with any New-fork
trust company. and he cited rs an instance OF ms
placed confidence In men and institutions OF the hgf
est financial standtng the case OF Grant ward WHO
had GO, away with millions. and one OF the hrnl was
still serving bis time in the penitentlary' me In
formation had TO be conveyed 10 tbs inancei tnnt
the Hon. Charles = Fairchih, the president of the
to tsS wfe sS SO Se of the
Treasury. Then the councilman was molihed ;,na
the na9ceI was 50 absorbed IN the partisan 81. Una, at
trusted 10 a true and tried Democrat
Probably the funniest hnarcer have ever read OF
was q Kansas City. Mo- Common Councilman A res
olution pending to bond the city in 100000 for
twenty years and the council was unanimous In favor
Of 1t. Eut one member, Alderman Robertson, gravely
objected to the wording In respect OF the pro
posed bond. The principal and interest were TO be
made rayal,ie mt the Ninth National Bank. New York
City. He moved to amend by striking out the word
.Nntiona declaring that IN his opinion. there won't
cause he added. the people will rise mp In their
wrath and Swipc 'cm of the face Of the earth" But
he voted all right.
In the heat OF debate in the san Jose, cal. com
mon council over the granting OF "A franchise for
street railroad, The Hon DR.. Breyfogle ntimated
his suspicious that the applicant might sell the fran
cl,r to the southern Tactic Railroad, and give IL a
chance to bring the scum and rirraf of san Francisco
10 San Jose every sunday ThcreupOn the Hon.
Il. .. shivcly Indignantly denounced the idea as too
ridiculou, to talk about The southern Pacific
he exclaimed, controls tine politics OF California strlk-
isg the milling with his ii>il ! dare any man here
to deny 1t cOntrolyOu bet they do If the southern
Pacific want, road d. you think that it would Try To
bay this council No. sir. II would elect It's own
council Becoming calm later on Mr.. Shively
made earnest appeal for the franchise and begged
hi, brother legislators not ID be surian clans!
Under The influence or oratory-or other per
,ua-lvo power-the ',ilurian clam or the average
Hc-tcrn common councilman frequently develops
into the active 'bO0d"r.' whose operations would put
New York aldermen 10 blush. No franchise appears
I, get through these councils without struggle. The
railway. electric light, Gas and telegraph companies
az favOrits victims Of local legislation. Just now
the Western Union and the Postal Telegraph Compa-
nies are parallclng the north ard central Far West
with their rival wires and one who watches the cOun-
ell report, clearly as day the eXaCtons TO
which both companies have t. submit for right Of
way through the small st towns. | told OF one
ombNO city whore the Western Union expected 10 get
through small expense for few dozen poles and
"A f,W miles of wire. The permit withheld until
90 C"al contract. r dsrced - put mp poles ;Xd wires
for 10000 Tho oficial permit went with the con
tract