Capital journal. (Salem, Or.) 1893-1895, 1894-04-18
WHERE is THE BOND MONEY
The City Council Reconsiders Mat
ters Relating to Bonds.


ters Relating to Bonds.
The city council met last evening In
regular session, Mayor Catch, Alder
men Smith, Duncan, Cross, Gray,
Klein and Albert being present.
The committee on ordinances recon-
mended the passage Of the ordinance
increasing salary Of marshal. Report
adopted.
BILLS PAID.
Knox & Hamill $5.24, w. M. Bushey
So, Salem Gas Go. S33 go, 8. T. q d. Co.
$3.50, Salem Consolidated Street Rail-
way Co. $4S5. 75, Gardner q Darr $24S5.
A. II. & l.. Go. $40, Salem Water Co.
slO3.74, Smith g. Shlndler 81, A. White
1920, r. e. MOores S7.75, s. T. & d.
20. So, =. P. Towle $39.75.
The following message from Mayor
Catch was read by Recorder Edes:
ITO the Alderman Of the City Of
Salem:
Sirs:-On February 6, 1894, we bond
ed ourselves to Rollins & Sons for $780,
OO-twenty years at 8 per cent. but
after patient wait have heard nothing
from the purchasers. AS see our
,onds have been advertised In the East
for sale now for some little while at
Sl.O7i, interest paying So per cent.
| hey are undoubtedly satisfactory to
Rollins & Sons. We should have had
ur money within a month after &C
epting the first bid; as IT lie, we have
been imposed upon aud our bonds
| hawked about the country that profit
night be made before taking them
from our hands. On February 9th and
since that time the bond market has
Deen rising: this Is perhaps the expla.
lation Of the delay. The city Is under
10 obligation to this firm after such
reatmeet and can place Its bonds easily
low at per cent. l would recon
mend that you instruct the city attor
ley to draw an ordinance repeating
iormer bonding ordinances and adver-
tising the bonds at 5 per cent. In
loing this we can save the city $lO,OOt
and do our duty as cOuncllmen."
At this juncture Alderman Albert
presented correspondence and data go
log to show that the delay was al
caused by the mayors contumacious
conduct in delaying the preliminary
work necessary to Issuance of thu
bonds. The Alderman went so far al
to charge the mayor with nonfeasanc'
and read the penal statute prescribing
imprisonment as the penalty for th'
same. Here Albert stated that he die
not go out of the banking business
when he went into council, that he haC
for years dealt In city securities an'
he proposed to continue In that line
aud furthermore that Rollins d Son
were paying him we'll for his work II
this line.
Cross moved reference to special com
mittee, Albert moved to table; ayes
smith, Albert; noes-Duncan, Gross
J Gray, Klein. Lost. On motion to re
! fer; ayes-Duncan, Cross, Gray, Klein
noes-Smith, Albert. The mayor az
} pointed Cross, Duncan and Klein a
! such committee.
} The following bids were opened 70
D constructing sewers: A. B. Smith
/ block 81, $40; block 5S, $24O; Jas
Robertson, No. 81, $26s; No. 5S, $S94.5C
Archie Mason. No. 81, $l63.5O; No. 81
y 1881. 80. On motion an ordinance wa
a ordered drawn awarding contract {
lowest bidder.
Il The general license ordinance an
l. ordinances to establish grade Of Churc
street and 18th street were read fri
:, and second times. Referred.
! The ordinance fixing the city ma
8 shals salary at $1,000 was read tt
= third time and passed. Ayes-Smitl
- Cross, Gray, Klein, and Albert; noes
Duncan.
The saloon license ordinance Wi
l. read the third time. Duncan move
"a same be tabled, ayes-Duncan, Smitl
"a Albert; noes--Cross, Gray, Klein. tt
re mayor voted no. On passage, ayes
N Smith, Duncan; noes-Cross, Ora
Klein, Albert. Albert explained tn
hIa noOativa vote Waa for the DurDo