The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-10-26
THE BASIS SETTLED.
Now Kings Bondsmen MAY
Complete the Contract.
DETAILS TO &c consuMMsrEp.
many Psfsfs 30 Be Arranged Befsrs the
ssfti~nsnf IL aetnssiy asas-
A Dsnbsfnx Tbsmss.

Wow Tia. TIE proposition for settle
raent Of the Krng de1cis made 81 the
ksnasnen Of tbe tsfsnlslng city treasurer
has been daily accepted By ths city eoas-
ell. the public IL anxiously awaiting The
eonsanmeEson OF the settlement. watch,
% svery ons faast realize, involves many
important business considerations. The
present coalition Of negotiations - that
the bondsmen hare made proposition "a
ssttis wtfh the city upon certain bssis.
and this proposition has, BY "a approved
ordinance. been declared acceptable %
the csty. This proposition 10 also con.
tsnxsnt upon L. II. Grifath and
his company furnishing ample security
for q noss for $1,000 to cover the
eompany's loans from Adolph Krag. The
ordinance accepting the proposition SLOWS
sxslys days time for the contamination
Of arrangements. There 10 much to be
dons in that time. and the public-eyer
mindful that there's many q slip 'tsixt
the cup and the lips feyer5shiy await
ing ths announcement that the matter has
passed from the stage Of negotiations and
has really become q settlement with the
funds In banks subject to the order Of the
city according 10 the terms Of the agree
ment
OF course. II 10 "A open secret that the
clearing house banks and not the bonds
men are furnishing the ready cash for the
settlement. In order that the credit Of
the city may be maintained the banks
have agreed % carry the load by advanc-
ing the money 10 the bondsnen upon GER
tain specified securities. Now IL remains
for tue bondsmsn 70 perform their con-
tracts with the banks By furnishing the
securities agreed upon. The whole sehsme
of settlement IL 30 dependant upon the
satisfactory adjustments of every factor
that IL become very delicate task 70 Sc
cure final success.
Those who have kept track OF the nego-
tIatiops up to date are aware that eonsid-
cradle difficulty has been experienced
owing 10 the constant shifting Of position
By some of those most deeply interested
The negotiations were in the hands of
some Of the Ablest legal lights of the city.
and the battle was . tbres-cornered one
The city was pressing the bondsmen to
settle and the bondsmen were endeavor-
ing TO compel those who had borrowed
money OF the city treasurer or were other
wise involved to secure them against ulti-
mate loss of ut least portion OF the de-
neisncy. Then there was another in-
centive 10 settlement TO some of the
interested parties, the fact that the
grand jury has for some days been cousid-
ering what indictments il should return
against Krug and those alleged TO be i'm
piicated with him in footing the treasury.
All OF these factors, in addition TO nego-
tiations with the banks for the use OF the
money required. entered into the arrange
ments which resulted In the bondsmen
and the city agreesng upon . basis of set
Element, which Is as far as matters have
progrsssst a. yet
While the city council and other mem
bers OF the administration appear to feel
confident that the settlement will be actu-
ally made within the next eleven days
the unsxpired time allowed by the ordi.
nanec--the general public. which has be-
come suspicious Of every promise of settle
mems. wants 20 DO assured that the
arrangements are completed beyond the
peradventurs of q doubt. This feeling is
illustrated by letter written By q Seattle
business man to the PosT-IxrrLIIsxxerR
which asks If ID - not possible that the
negotiations have been acquissced IN By
some OF the parties with view TO staying
of the evil day until the grand Jury shall
have made its report This man shows
how cynical and suspicious the public
mind may become by asking this question
III the grand Jury should bring in its
report now. might IL not take more than
twelve days TO complete the settlement
There can be no doubt that the desire of
some OF the parties TO placate the grand
jury and escape indictment by restoring
the funds 10 the city treasury has been
leading motive in the negotiations. Now
suppose one OF these men should be in
dicted before the settlement IL completed.
Could he net say; why should put on
~ IL does not give me immunity from
prosecutionf and then 90 back on his
bargain; or. II the indictment against
him 10 returned not a true hill
would he not be in a position 20
snap hts fingers at the city and his
partners 10 the agreementf do not be.
lisve that any such plan has been devised.
but there are many who appear TO think
that some OF tue parties TO the agreement
have no other idea than to lull the grand
jury into belief that settlement has
actually been made. when. as a matter of
fact. one set of promises has only been
substituted for others"
While this correspondent takes nessi-
mistic vtaw of the situation, there can be
no douht that II IL were not for this uneer-
tainty about the ability and absolutely fair
intentions of all parties concerned. salts
faction at the terms agreed upon would be
much more general. Ii is unfortunate
and 10 q certain extent unjust. that The
public should be incrednlous. but eonf.
dsnce has been 80 thoroughly shaken that
II 10 not surprising consequence To find
many earping and asking questions which
nobody feels justified in replying Ia With