Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-10-12
BUSINESSAND MINES.
Mayor Baskil Stops tho Issue Of
Illegal City Warrants.
DELAY IN SALE or CRY BONDS.


aud Mining Item.
In their treatment Of Mayor BaskinH
communication 10 tho City Council on
Tuesday evening, tho municipal solons
evidently did not count on tho mayor
putting an vfioctuhl block In tho way
VI the city contracting any further In.
dobtedness. But he has done 70, ami
now refuses to permit city warrants 10
Issue for the last appropriation
iist passed by the couucil-.ig,.
36y.Gi-lor the reason that such
Issue would bo invalid. As the wsr.
fants would DO voiu Il follows that tho
order for them boz the shape Of the AZ.
ptopraiion referred 10 is nno illegal,
ana those who hlI claims ngainat the
city wuioh were accepted at ihnt time
wal have She pleasure Of Hguring on
ihum a; some future Ja.v.
This action by the mayor was fore.
Swallowed Ia tho communication which
lie sent 10 the council On Juusday
night, though that bOly was ia too
much Of pickering mood to rocOs.
nizo tue fact. The ro.ona were given
IA opportunity to arrange the matter
themselves, but they would not
Their, fore the mayor took 10 upon him.
cell 10 perform the necessary action.
Mf. bntkin does tula upon tue show.
HH.. 49, d.. ...Ha L.. H.. d..
MIA communication. There uto now
outstanding some s-2l, 900 Ot city war.
rnutf, ana all thnt lhu whole issue Of
t0ndu could bring u the city, when
they Htc sold up ~ tue limit OF the
city's Indebtedness, would be- S-.5, 900.
AZ tho sale nt this bguiu b. not yet
contaminated the p0uluOu the mayor
T. In con DO readily seen. Uluu tnis
~ jtct hp SAID, 81 shull not 40 ono
| collar beyond the amount of Indebted.
meas which the city can contract
legally. Whatever the council nas
done or mhy 90, I VIII not 10 bryUiu
the lawful limit" That Ia where the
matter stands To-Day.
the CuY bonds.
There has boon good deal Of cor.
responding and tel graphing going on
since yesterday Afternoon, In couse.
| quvuCU Of the iailutc,uuuuunced in last
| evenings NEWS, u dispose II the
| City'r hludH at Tie present juuutufr.
| rue $50 600 which Blair x CO. directed
| BgugtrJ. IA, Bacon ~ advance 10 the
eiiy has been Withdraw, Hud the an.
nUuncemeut Of Treasurer Duke that
he wac really 10 redeem certain out.
standing city warrants falls TO the
| ground. There II no cash ia the C.ty's
Golfers for the purpose.
The negotiations are, however, still
In progress, und may 10 successful after
few dRys delay. The cause VI the
failure rests NJ this end Of the arrange
menis, and not with BlHir * Co. This
renders necessary an exp.aua.i0n that
| will satity the bond buyers that no
game was being put up on item. Tie
fact h that tue Item Of u reduction Ia
the city's deut-cOntfactlug ability,
caused by the correction Of the assess
muut litt by the board OF equalization,
was not taken iutO consideration.
| IL bad become apparent that upon the
basis OF the assessment OF 1892, bond
buyers would not take up ,he uity'-
paper, 10 the Mayor aud finance com.
mitiee delayed uutil they could get tue
assessment Of 1898 ~ a basis Of opera.
ton. The municipality was no pressed Tor
money that when the iifst announce.
ment Of the total county assessment
was made this was proceeded upon.
II gave borrowing capacity 10 the
city OF about 81 $40 900, against which
there already was 81, 10000 In bonds.
This statement, WIN a financial ex-
hibit VI the city, was forwarded to
Blair 4 Co., and arrangements made
for the latter 90 furnish $50, 900 down D.
When the revised assessment list was
made out, however, IL aggregated but
fi3, S76, 900, giving n borrowing Capac-
| Ivy Of Sl,765,OO1 Blair 4 90, had
recognized that the bonds would be-
legal only on condition OF TAX ng up
city warrants, anu an ordinance
was passed by the council 10 meet this.
Hut when the bondbuysrs discovered
that tho City's borrowing capacity had
been reduced 100000, they became
chary Of the Transaction, and the
result was yesterdays action. They
evidently feared that the whole $500,
900 in bonds would be Issued, and az
$40, 900 Of Il would be invalid they did
not want any. The fact Is, however,
that the Mayor aud finance committee
did not contemplate the sale Of more
than $3.50, 900, which would be within
the limit, and when tho case IL fully
set out before Blair * Co. there will be
nothing, 10 far as h now known, In
the way ~ their taking the l45 thou
sand-d0lar bonds for which they have
agreed 10 pay Sll2,5UO, as well o. the
other l95 on which they have an option
at the same figure.
MCu GOLD STRIKE,
| Special Hlyufch % Tho NEwE
SHERIDAN, Wyo., Oct. lO.-A. H..
Washington, general manager VI the
| Bald Mountain mining anu milling
| company, on last Thursday discovered
a ledge OF the finest gOld.bearlng
quartz ever taken from the Bald
Mountain country, The quartz Is
transparent white, with here and tnofc
dark brown or gray tingu. The speci.
men Mr.. Washington btuu ght 10 town
was literally piastered with gold, re-
sembliug very much the quartz found
| in Nova Scotia. hut little more work
can be done this season ~ there ha'
been already several snow storms In
the mountains
AN UNsATlsFACTORY CONDITION.
A correspondent writing from Leorn,
Idaho, on the situation there, ssyr'
"rimta up here are very had NJ pTet-
| ant guF CIODa nre moor the average