The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-07-27
fAcomA's REFORM TREASURES.
fsneeling Warrants and Generally I'm
proving the Cfty's0 Credit.

tsneeiing Warrants and Generally Inn
proving the City's0 Credit.
TaromA, July 26.-lSpecial. The policy
si financing the city in the interest of ali
he taxpayers, as against fnancLagln the
interest Of individuals, which was out
lined in the OBSERVATION-DISCLOSURES during
he late municipal campaign. will result,
Civ Treasurer McCauiey says, in saying
$50 go interest year. before the end of
ia nrst year in Office. and eventually, IL
&aelsy's money can be- had as desired,
sasipe out entirely the great bur,ien of
nssss on outstanding warrants. There
rssyer s90O. 600 of these warrants when
Asgfr admistration came into office.
fesly thousand dollars of the warrants
have been called in. and on August / IT is
ggoposed to call in $4,000 or 81, 900 moro.
Indesd. II Is the policy of the sinking fund
commission TO 60 ahead and redeem out
standing 10 Ter cent warrants as fast as
the getting in hand of the city's funds will
warrant beside this, IL, as is expected, it
IL decided ina day or two that the city
has right to issue 100000 on funding
Nstsnts, this money Will be secured on
funding Warrants. Warrants drawing 10
per cent interest will he called in, and
funding warrants drawing only 5 per cent.
sill be issued instead.
. Ia the meantime all the necessary pa
pfs have been prepared for bringing suit
against ex-Cily Treasurer Boggs' bonds
nsn for all the money not turned over to
We new city treasurer. and the suit will
PROBABLY be brought next Tuesday. IL
sould have been brought this week but
iaF ihe fact that one of the collateral bonds
Issued as security by one of the banks hay-
hg city deposit on hand contained a
Hning technical defect which. while de-
handing consideration, does not neoes-
nlily inJure the validity of tho bond.
hhlle the cash not acknowledged by
Wy Treasurer McCauley as having been
sa'nsd over to him by his predecessor. ex-
Treasurer Boggs. reaches the enormous
san Of $4,000. still thatis not the exact
saeuat on which the city will sue to re-
msef. Mr.. MoCauley offered ho certify TO
~ hoggs that he bad received $4,000 in
ash Of thee $4,000 reported on hand
saea he esmeJnto Office. Boggs refused
Naeeept such receipt. Ha wanted a
"eeipt Tor thefull amount based upon has
~sa books. In turn McCauey, who is.
1'SsF TIE charter. supposed 20 have city
'saas IN cash On hard. refused 10 receipt
uesps Tor the amount which he eonsid-
Sea cash, being s56,O0o. In the mean
s~s the amount OF the city's funds which
Aea'a be on hand in cash has been re-
-4esa aooaESie1. 90. leaving. say Sou. 000.
- aedueiing the amount for which Nc
sAslsY vas willing 20 receipt as cash, there
"a balance OF &i4l. 600 due the city.
Aaa yet Rus does no6 represent the
sssoans on which the city will have 90 sue
ss oondsmen. because Mr.. MeCauley
- eeea reducing che accounts. and is
- dong 50, by drawing cash with which
.ssSesm the heavy intsrest-bearing war
@ consequently the amount on which
VII Slh sue Is changing from day 10
-, o9a the amount via be, approxS-
sssy FSsl,G0 oy the first OF next week.
- the exception of SI4o. 600 repre-
- a. being tied up in suspended
- tae balance Of tins amount can be
sedppon readily TO very considera-
silent The bonds given by the yarl-
saaAs not having the cash on hand for
saean's Of their deposits viii be held
=. aslty. bus not as cash. until the mat
s0sae Instances the city has agreed TO
these seooants~if the warrants
ha9 sese returned Ia one instance
,.fAaeolar, where there were $50 coo in
x5~AS on hand. as understood by the
A. representative. this proposition wEs
pied. This bdnoh OF warrants is
a.. A~s' and viii undoubtedly be sold
"a thelntersst OF the bank.
- sale Of the tl00. coo Eleventh street
~ 49, eoads On ChieagaJ recently A. par.
-, aA interest, is taken as an indication
a. s'tJ > credit Is not snflening under
s'aissrssloa. '''''S' " ~
senator Shot by . Woman.
So Nsv., July Mrs. M. A. Hart
A. aud killed state Senaior NJ. ID.
a. MS evening. The Cause of the
= g Is not known. Mrs. Hartley Is
@s&t aNU hRe q Of