San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1893-07-07
IMPORTANT DOCUMENTS.
Letters of Mayor Paschal and Col
Breckenridge Regarding City
Finances.

Finances.
The following communications
were read at the council meeting
yesterday afternoon:
Colonel George w. Bra 'kPUridga, Prosi-
dent San An'OniU National Bank,
San Antonio, Texas.
Dear Sir-On the 30th of June,
at my request, Alderman Elmen-
dorf and French members of the
city's finance committee, waited
upon you to advise you OF the con-
ditiOn of the city's finances and to
assure you that this adminiStra-
ton has every desire to settle with
you, principal and interest, and
had no idea of regulating one
dollar of its Indebtedness to your
bank or to any other of the city's
creditors. They were further re-
Quested to say to you that every
effort had been made for two
months past to raise the means
with which to liquidate all of the
Indebtedness owing to you, a matter
of which you We're fully aware
from the meeting of bankers that
took place at my office at which
you were present. They were fur
ther requested to say to you that
the attorneys named by said
bankers meeting to pass upon the
legality of such loan based upon
a pledge of the city's revenues, had
given it as their opinion that no
preference lien could be legally OBJ
tanned upon the current revenues
of the city, and that l had resisted
such a conclusion to the last, but
was borne down by the opinions of
the legal gentleman selected for
the purpose of looking into the
matter. They were further re-
quested to say to you that owing to
this opinion | found it impossible
to make use of the money freely Of
fered by other bankers provided the
same could be secured by this lien.
Therefore money from outside
sources to settle with you, as it was
my desire to do, and that the city
governmentw would necessarily have
to come to standstill if its pres
ent incoming revenue was dedica
ted wholly to the eXtinguishment
of your claims. | further asked
them to point out to you the fac
that your contract with the city
does not require that the first tal
money taken in should be wholly
dedicated to the payment of you
debt. With view, therefore, o
being just to yourself, and at tn,
same time seeking to make pro
visions for the city government t,
perform the functions imposed OF
it by law, further requested then
to propose to you that the cit,
would pay you at least siXt,
thousand dollars during the pres
emit year and interest thereon, an,
that if back taxes came in durin,
the year in the same ratio tina
they have in the past four month
that you would be paid one hun
dred and twenty thousand dollar
instead Of sixty. l further pointe
out that other creditors wer
clamorous for their money on lon
deferred payments and that
would be ruinous to the credit {
the city to take no heed of thei
Just demands.
My information is that thes
facts were laid before you and tina
you declined to consider then
stating that you would deman
you entire claim from the revei
ues of this year.
Thinking, however, that the 81
uation may not have been as full
conveyed to you as is herein sta
ed. therefore take this means
again drawing your attention I
the fact that should the counc