The Bessemer indicator., 1893-03-25
THE VIADUCT BONDS.
$3.50 Interest Given Away,


Bridge Co., the vinduct and the via
duct bonds are items which when
considered as whole make an in
teresting chapter. 1t is hardly nee
essary to review the troubled his
tory of the viaduct, how the project
was conceived, the bonds voted to
build it, how the Bullens purchased
the bonds, how they were given the
contract for building the viaduct
and how they didn't build it. All
these things are past news notes
which readers of the INDICATOR at
least are acquainted with and there
fore it is unnecessary to again re-
peat the story. But there is one I'm
portant matter which is new and
racy and needs little ventilating;
if the INDICATOR misstates the facts
in the case its columns are open to
any who may take exception:
About the last Of February the
Bullens presented claim to the
council for $3.50 interest on the $40,
600 bonds, being at five per cent for
six months, from September lst, 1892
to March 1st 1893, and the claim was
allowed. The Bullens then ap-
preached Treasurer Willis Cush for
warrant which he declined to
make out for the reason that the
bonds had never been transferred by
him to the Bullsns, they never hav-
ing made demand for them, and
he couldn't understand why the
city should pay interest on bonds
which had never been out of its
keeping. All those six long months
while the bonds were still in pos
session of Mr.. Cush and in custody
of the Central National bank of
Pueblo, they were drawing five per
cent interest for the Bullens and
Mr.. Cush very appropriately kicked.
The kick hurt the council and that
body not having an excessive love
for the treasurer anyhow, issued
demand to him to draw up the $3.50
warrant. The order was peremptory
and must be obeyed. Accordingly
the document was made out and the
bonds ready to be turned over, whom
10, the Bullens presented as col
lateral check on some institution
unknown to Mr.. Cush called Graham
& Co. This company may be in ex-
istence and may be solid but as the
treasurer had no knowledge of
either fact he refused to accept the
check telling the Bullens to get it
certified by responsible parties.
This created another wall and u
bluff was attempted, but bluffs
don't go with men of Mr.. Cush's
stamp and after some more waIling
the check was certified to and by
the very best Endorsement, too, that
of the American National bank,
The bonds were then transferred to
the Bullens, the first time they had
ever seen them, and yet they got six
months interest on them all the
same. There is something else in
relation to the check business which
it may become necessary to publish
in future issue.
Now follows the simple PROPOSE
tion, why did the council allow this
interest? Did the purchasers of the
bonds ever expend dollar in pre-
pairing to build tho viaduct? Had
they ever offered to put up tho
collateral security for the bonds,
and as they had not were they en-
titled to interest on them? Hardly;
at least it looks that way to man
outside the council and there are
some things the casual observer
would like to know.
He would like to know, for in
stance, II a member OF the council
who voted to give away $3.50 on such
a leaky excuse is entitled to u re-
election. He would like to know il
this is not alone sufficient reason to
relegate any man who took part in
the transaction, to obscurity; to
cut him down; chop him off; sit
down on him as 1t were and put him
where he can't vote away the city
funds In such manner. Voters OF
the first and fourth wards, remem
ber this, and express yourselves
through your ballots election day