Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-12-13
FORTY
THOUSAND
DOLLARS
Is the LittlSt Of
Money at Issue.
THE MAYOR AND THE COUNCIL
Want Treasurer Elser to Pay
1t Out for Bonds
Want Treasurer Elser to Pay
1t Out for Bonds
or the City So the Interest Can be
stopped. But the Treasurer Says
His Lawyer Tells Him Not
toDo It--A Municipal
Sensation.

~ .i.,- 81 r,,-t worth was suddenly
a.. ,,.-t,i,,, ,-,s.
placed III an EMBARRASSING p'''''ON
terlay morning 10y the refusal Oh ls
treasurer. Max Elser. to honor draft
,, ,'.,,.,'u ,,,A o,,tboriz,l
NAleh tue ''s '"u'y' ''.,
As result the drhit mas gone TO Pf"''""
crrrenc. which gives promise of inter.
,tt.,..t .t.,.,io,,,opts
e''ins' IL "o' ''''''''''''''' - t,..,1
At a session OF 'le count" new
week ago the finance committee re
r,rtel , resolution authorizing the invest
i''''" -. - m, si,l.ir,, r,nd
lhchi vi Porliu" Va tnu 9"s '"N
IN outstanding bonds, which, II hnd been
,scertnippl. could be purchased. The
,,..l.t.J. 4, ,,.,, ,,,,t,,snd IA ntrrhnse
p'n''' -, ...'i,,,,,ii,,
were 'Wo OF tnr ~ .s,.,.,,,i ,,rics an. of
puluii 80 f,nr nf the fourth series,
the thirl series Iuut Oh Wy ~. ~ IN.
/ seven OF me seventh serl''i ~ y, 49, Ky
I eighth series anu lwthtA Na'rri IN $3.50
l sinking fund bonds h9hlIs III "'' i''"
! two benu7' 'l.n iur ,bs 6,opce com
Mr. Mes tillll ,I., "a rrnsons
mttee' IN sinlns Jay Elm n wns s5m.
Tor me teyoui'iv,'''''t, ,,h,rniv tb. sinitiug
fund. now idle could be- made To increase
itself The hoius were nv ~ w.
stroyed, but TO be bought aS uI tu-
ycstment, IN the same ulllul'oi ""u
the same purpose mat lhe w NV
buy bond OF any SolPoi'a,ly', WI
purpose OF mahlug tne n'.,,, H. Mo-
ont some suou ,l,'.., IT, ,,,G,,.b ,poney
said there would nor pe 'nuus' III,
in the sinking fund to meet us op''s'
tions. ..........
The recommendation met uha,,,llpll 4,
approval, except that alderman ieriill
insisted that the bonds ShSlld y, re "
stroycd when purchased. NJ TILL XXI;
however failed TO Recognize ~ I"J, ui's'
the city was not redechllg ~ n1'N''
thnt n was Simply trading with Itself,
The resolution passed without a 9ls-
sentinp vote. and Messrs. Bar 20 =
IND city's fiscal agents in New York
wore instructed TO buy the bonds, ana 10
send them here, with drait ftiAchei' a.,
These instructions were lolloWed ~
orally. and yesterday i9orlE ,,.a !, 20
Of The First National bank presenieu 20
NJ Is,snr a draft for Si,3S3Oh the
ar,ount Of The bonds premium and eN-
chnngn Mr. Elser decliied 70 pay me
dr,W Later It was presented by walter
itonSi bSnE' and also o notary public.
Arain payment was refused ana the
dr ,Idv ili.7 T5adIoci w,s Informed Of Mr.;
} t,iser's refusal 10 hmor the draft and
a meeting Of The iiinhee I'm M 49,
Of '' meeting was fiiel 9t o'clock clock, but ~
os Wr Flser. VIII, bad .heen invited to
" sont bod been delayed by bus
80 n was narer 4 than 3 o'clock
e ny, ,I,o corpnftoe began rs dclihera-
+ W t;ans Those pesent during the meeting,
], gt, ,,.ss u,idlv informal, were Mayor
:, MhTnn w, i1.rmen Mics. Nieks and Fry,
n , rolJS"gs' 9 az lie finance, committee
l. i Ri5n,,nen Byrom happened to be. in
N NpS1"'P aaiock's office, and remained he,
tbeSe throughout the SESSION. Anuiloi
- VAS also present.
ir N.Y. Paddock stated nc object Of The
meeting telling Mt Eisel ilat w. ,'' y,
1 ,ITsr eeouli not reach ar agreement re- e.
d s'N,Ii rlscr replied that he had been ie
ally advised that he could no. pay "a,
5ra{t ut 5 true conilnned vt liser