The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-07-16
1l.l0e Dol

! ~ Esusid nd he should not sign warrant
GrDtts than The money In the treasury. and he
{goef issss bossowiug any money 10 sntictpase
m yexs TAX levy. The reason Tor that was
~ tfs peopsr;y valuation 10 10 Per cent lsos
XII Is vs. last year. IL will b les than esO.-
|f1Ef end there must b an extra levy OF IL
J - nsss interest on the bonds issusd this
- II was not la favor Of selling bonds at
aDoN TIE lest sals. He vas informed By .
aH9 hat he could cell the bonds. II not eli,
- ~ sewer tunnel bonds. Mr. Fred r
~ oGbged 70 negotiate the sale Of the bonds
toay rostSietiOns thsy choose 70 put upon
fus called upon Ms. Sander TO spssk Tor
~ Immediate action 10 needed otheswiss
J 6sumbsf Of men will ~ thrown out Of
ns did not propose, however. 70 cell the
kes eAegincs.
Sonn1es being called upon satd b. believed
Ra4 ssll the bonds: ell he asked vos 70 b.
Ese 70 oct ~ any other egept. He believed
ssn 81 par. but they could put their own
w0 hen and pay him On asresd commits.
~ - succesced In disposing Of them. Out
~ suamission he would pay the sxpsnsss
ee9h % take the bonds 70 New York
eS1ne 70 NJ. Brewer. he aid b. did not
- , hsvs the privilege tos moro than sixty
4 xbsbss said they all realised the uscs,.
9enoa Of the tunnel. yet he doubted the
- =: the city trying to fores il bonds
~ - Market at present. He did not believe
esnM % the city any good 70 give tho ex.
oNW agency for the honda. that
~ night b hawked about. A.
- o the stringency IL relieved.
| oN4 VIII seek Investments such ~ these
e1Asnd he feared that any attempt to force
m veald DO preiudiciai. He considered
eAsnsh bonds should rsaii - to the city their
ID vsus. he believed, not uishstandinG. that
eesuid b wise to let the sewer tunnel bonds
eooad q slightiy lower rate beeauae the savs
llo sescisd In the labor would make . prOHi
.sths eits. ~ 20 the other bonds there 10 no
tary about selling them, and when capital be.
fns 70 sssk Investment II viii nnd IL way 70
|ssattie He hoped. therefore, any arrangement
81 IN sxeepttoaal character would b confined
y the eswes tunnel bonds
Mayor Ronald agreed that II Mr.. Sander sold
y boads Il would 10 . good thing, bat II ~
80 u would be to thu city's ultimate dissd.
Nafasa Tho sewer tunnel must b dashed
- must BE- done without delay. They
u11tas we'll understand that II the tunnel d not
eAplsied Il will have to to dug out again next
~ That wss . fact. aud they could not eet
1ay from II.
IN. Trounce thought the l95 COO bonds could
eeld. hu, he had been assured by responsible
- York houses that II Was no nee trying To
- over II Loco. 90 on the market Just now. II
~ would tase = fair price fog the tunnel
eds he could tell them on Monday whether
~ could place them, provided the
~ rave him al option on tho re-
NADER Of the honda As to tho
Aoeiag bonds he believed they could b sold at
~ . holders OF warranta There would not be
sssed market for bonds for some time to come.
oo1eht be could sell the sewer tunnel
- o. " cents snd the money 90 be ready In
eRT Days. Money! Ia commsu ting high prices
etee East and the tonds must 10 carried. A
suiaeai bond buyer now In the city had told
~ hal never seen any thing Ike IL in
osasy yss,.
Y A'csber moved that IL be the sense OF tho
esscsl TIA, no option be given, but that the
we aud Comptroller he authorized TO invite
- to- tho tunnel hoacs.
SseSsle Drew asked II IL was intended TO en-
va thea b negotiate He though, thirty
swoaid be a reasonable time.
"a replied Or. kloeber, ",he Idea il to get
y. <H pFcposisioas We can and have the COIN
- npon them. A limit at fifteen days
s<as b sileset''
~ sweeney thought that thirty days would
- - 'ss raeasy market IN much better shape II
sota al 81 or 9S they might be very sorry for
ase senref OF Congress will soon b knowa
'hs sherman hiil il repeated the ssrin-
- s'as &c immediately relieved. He agree!
~ As"etst That IL would not b. 10 tho adj
TIE city ia hawk the bonds about
nssa essk favored prews suggestion he
ssa' AMY days rot too loeg. He hoped.
1910, sass The offers under Consideration
- promptly settled.
- eas's motion carried, aud the mayor
kss pues.sf are authorized 10 call for bids
.sssf snnaes eonts lsa Oh. the council
sas tas flgal 10 re!ees any bid
~9~ Ronald feared The ofsers would be &C.
ssea By conditions Of options.
sa-se Drew feared that their action was
i. 'esa 10 combination against the city.
- s.s tas more opea the com Petition the
- AZ sssaer believed he could cell the
Ws. lie moved that the mayor and
k-3 - authorised 20 sell the tunnel
eAnssslse w.
Asesaey sad that would do away with
= Eo'lon. sAs, VAS the Use O! calling
-, cue sgeat sas ~ have the exclusive
-. ~ the hoa5ss They had already hy
h,ss.oa infused 10 permit the boads 10 be
sssd saoat
~sS hsace thought there was nothing ts-
49,. 81 IN TIE motions. the mayer ana comp
sr 70 call 'or a.ds. aus II they eau sell
80 P1 .ess not Ears taan , Per ceat CON-
49,. asa bsessi thought the mot!oa Already
covered the whole subject
eqsssssa '"N 'Sne''
sgsess Of the sewer Tunnels.