Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-01-04


ment would impair the obligation Of the
contract, and 9gtunlly it is said that some
of these bOndloldcrs might sue Elser;
he might be exposed TO litigation u be
Obcyed this order of the council. Well,
I thought it had been settled law ever
since Daniel Webster argued the case of
Ogden vs.. Gibbons and the supreme
court decided Dc seycnty-hve years ngO
nearly. that the law in force at the time
n contract is made Is q part of the con
tract 1t is new law to me, that man
can make contract, with the provision
Of u statute then IN force and say THAT
statute impairs the obligation of my con
tract" by all the courts of all the
statcs of the nation and the supreme
court of the United States II is held that
the law Of the land is a part of con
tract. Now. when these gentlemen who
now hold these bonds become the pur-
chasers of them they do it with tho
knowledge " the provisions OF the gen.
! eral law and Tue organic law of the city
Of Fort North Here IL the charter,
which in express terms provided for the
investment of these funds and surely they
would occupy a very untenabe position
il they won, TO come in and maintain
that this law, which IL the basis of the
issuance oftheir bonds. impairs the obi
cation of he bonds.
No,v tb.ra 10 n motter or great inter.
,y, AVA ',,,J,;1.t, NV trend CAM Rail in
,,iI, r" Saracteri1ea as absurd md ri.
}i c,,inys' n,oy I've huf of course that
jon. nnr inoEe n 80 because ANYBODY
sors sn # ayo, ihe obIest man In Inc
,-rid ,,.,ri1 sov so thnt yvonld NOT es-
t,IlItl. WI 80 oni ,sa viii trv 10 70
ot ~ Hu ,i ~ tho law mon that
Srl,iact Nirha Greatest rontest in this
cos, h. n'at p5is fnnd shall not be In.
ycsfci q, bonds Of another series, ma
t,,ri,,,i - a iator da,
''S SH,s,. NM M ,Tomn1eton made a
,ooJ 6,nlanntion 81 thai me bonds IN
T.bi.h 4 H. ,,r,noscd 20 iuyesi draws q
n,r n, i,,taroIt IL StoOOD should be
,yi,bJrr,.n ram tbe treasury of me eli,
nuJ in,"sted In ANYTHING nj q per cent,
In .fyti,n aud two.t Thirds venrs Won re-
ni,r, H. frnd That viii nut 100 cents
KIM is ar, Ina c"nts ,vitbdrnVn
Nnne NO hands whose sinking fund
il Jcsknd ~ he invested will mature IL
u u,bo. cn,rcctlv under about
t,.,,,t II ,-aors Itcyce In apnroNi
r',toI,l ~, .oors or nine Years we may
,,. ~ ,bnso bonds 'mniure. thore
v,in H,u' 10 The nrocess which
,,a 'I,,,,ai no rcnlncement of
douo M dolior Of the find with.
S Sr., ~. t,o n,,rnosc ~ inyestnent
- H. ssid "frnn whom does ibnt
~ u IS-t,, novs ~, -the tavnavrrs
o.'.,s " iI1,at " tbs on,v way tbe citv
oo., r,n,,e,. W.ll thev will any
~, .iTo,. 1' 80 ," I'M holm anytbipef'' SIM
nd 80" x W. gn,ostmopt u nof made Forty
n .,, XII 5Nlinrs iies tborc liz and stiil
hous'aln ro,'' nav intercst an $40 OO0
r ~, tanis This invcstment nre.
Win ol s,nd Iron, Wing idIr and while
n ,.''s ,v W., seln NV mis- money by which
NJ ,,tt.in,, fnhJ is rcnlnced vef II pre-
Wv, wv s,Ht's IN NM from living idle The
,, H's I'M NJ" s,iii INV tbjs q nor cent. Al the
IN W. ~ tGc sivtcnn veots the CITY
nv Ni,'', ,,,,cl tbcsc bofds and would do il
-, IN ~. oSorcisn az wise judgement
M ."V ,,nst in,nrS,sed mon tbese
hanJs l,c 6rst ploce The cify nscs
~ t,,,st e,nd fnr noving tho bonds aud
or ,e IT'S w. tho ,ntSor{,v mcntinncd Nv
TS an, I'm ~ vcsterdsv Wmiams ys. The
| 90 ,e Sboyb,nn ia Investment Of the
trnS, " ,,r6 ~ anotbeT f,,nd ,mnresses tbS
,s,,s t ahonoc ~ mnon thc nroner,v mr.
cnroa y. nhisi,ed NE ,lty bv cxnress
eT,ho,iy,, ~ law In tbis casc. obtains
anoiber .nst fnnd snnnlantinr mo orgj.
nal NH Il docs Il for q certain purpose