The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-11-05
THE ISENSEE DEFICIT.
Summary of the Proposition to
the Whatcom Council.
FRED PAGE Tusrn WOUNDED.
3. Wright Unieadfng His Taeona
HsIdings-Blaeks.EIe Massn
Convicted at Portland.

NraTcoa, Nov. Especial 7--FosIow-
Inx i The substance Of the proposition for
sstflemens with ex-Treasnrer r. VI. fsen-
- which IL 70 come up before the council
s<xt Monday evening. and which IL under
.seod 20 have been already agreed upon by
n<nheTs OF the council and Tsenses's
ssndsmen. The bondsmen admit having
kssn officially informed that issnsee's
portage amounts TO So. iei, eut they do
~ admit thar amount 10 be correct. They
x1<r 70 turn over 70 the city receivers
nrsIhcase on thu Puget Sound Loan, Trust
sad Banking Company for 1900; q re-
csissr's certificate on the Columbia Ma
Eonal bank for s6y0ss; the official check Of
CIR Attorney Nsterer on the Columbia
National for 81. 1914: New whascom city
Fsrants TO the amount Of s., 30 and eash
H,5oo; total, 81. 3f5.94. 20 be received a.
sasb- And in addition to the
sbess It IL agreed TO dispose OF
sDeoo0 feet Of FIR logs within
Binesy days and pay the proceeds 70 the
xisy, and also 70 dispose Of the logging
catEt at the option of the city and for the
e;gy's benefit. Notes and mortgages valued
approximately At $1,000 are to remain in
fbe bands Of the trustee and collections
made as rapidly as possible and the pro-
eesas paid 10 the city. and also all funds
thai may be realized from the sale of real
estate belonging 10 Isensee. The bonds
men stipulated, rs condition of the
Proposition, that the suit now pending
shall DO continued ore year. the bonds
men not 70 be released from liability and
The disputed question of commissions TO
BE- settled by an agreed suit.
The proposition Is considered as good q
enc as IL il possible TO obtain under the
circumstances. and there IL nos much
doubt Of its acceptance after its approval
by j. X. Morgan. one of the bondsmen,
whose return from the East in few days
10 expected.
The above is only a skeleton of the
proposition submitted. which, IL is under
stood. is now being considered by the
citizens committee. 1t will be given out
for publication in full In a day or two. IL
approved. There is strong sentiment
against several provisions, notably the
ones providing for acceptance OF receiver
certificates and city warrants as cash. The
certificates on the banks referred TO have
been offered for 50 cents on the dollar and
even less, and solely because Of the ex-
treasurer's misrepresentation of city's
funds. City warrants are salable now
only at heavy discount. aud there is lit
. tie doubt that the warrants that he holds
and now offers a. cash were bought by
him at a discount and with city money.
Objection Is made also to oblIga-
ting the city To refrain from pros
ecuting suit against Iseneee, and In fact
many regard 1t a. unwise 20 enter into
any negotiations so long as the bondsmen
refuse TO admit that fsensee's shortage is
actually what the acc ountants report Ii to
be. Isensee's friends are anxious for a
settlement now, believing that it might in
hnence the grand jury now in session, and
before which the matter is soon to come
mp for investigation. IL q settlement Is
not effected IT will without doubt be an
issue ia the approaching municipal cam
paign. Candidates will be called upon 10
pledge themselves 10 demand. in case OF
election. q settlement which shall REIN.
burse the city for the full amount of the
shortage.