Santa Fe daily New Mexican., 1896-05-28
THE BRICE-COLER BONDS.
Vague Compromise Proposition Pre-
scented to board OF Trade-kesOIu-
tiOn Passed Reiterating Former
Expression of Board Against
the Bonds.

The called meeting of the Santa Fe
board of trade, held IN the rooms of the
board last evening, was largely attended
by the representative business men and
taxpayers who compose that useful or
ganization.
President E. L. Webber occupied the
chair and Secretary George W. Knaebel
officiated at the desk.
Mr.. A. Staab, who recently visited
Washington specifically clothed by the
board of trade with authority to act with
reference to the disposition of the aban-
doned Fort Marcy military reservation,
reported that while at the national capi-
tai he had interviewed Senator Brice and
others interested concerning the pro-
posed valuation by congress of the So
called Brice. Coler railroad bonds against
this county. After reciting the we'll
I known fact that the effort to validate
those bonds took the form of an amend
ment to the house bill! approving the ac-
tion of the last legislature, authorizing
the issue of $4,000 in bonds for capital
rebuilding purposes and certain bonds
to aid in the construction of the territor-
ial insane asylum at Las Vegas, the agri-
cultural college at Las Cruces, the mill
tary institute at Roswell, and normal
schools at Las Vegas and Silver City, Mr..
Staab expressed apprehension that, un-
less Santa Feans withdrew their opposition
to the valuation of the railroad bonds,
none of the other bonds would be ap'
proved by congress and that this city
would ultimately lose the capitol.
He referred to the great wealth and in
huence of Senator Brlce and the Colers
and intimated that, in view of the hos
tility of congress to anything of the ma
ture of reputation, they would probably
be able to carry their measure in the
long run and that further opposition
might result in great injury to Santa Ft
without defeating the bonds. He added
that Senator Brice had indicated will
ingness to have the bonds scaled down to
reasonable limits, after they had beer
validated, provided of course that all Other
and prior bonds of the county were also
scaled down.
Hon. E. A. Fiske strongly dissented
from the views expressed by Mr.. Staab
In unqualified terms, he pronounced the
Brice-C Coler bonds fraudulent from theil
very inception, and said that, in the light
of. this fact and the decision of the United
States supreme court declaring such
bonds unconstitutional and void, there
was neither moral nor legal obliga
ton to pay them and efforts to avoiG
their payment could not properly be
called reputation. He said that con
gress would not knowingly do dis
honest thing, and that Brice and Colel
never would have come to the people O
this county with any sort of a PROPOSE
tion if they had not realized this fact
; AS to the suggestion that Santa Fe nigh
lose the capital, he said the city could ia
better afford to lose the capital than t'
: be saddled with the interest on these
bonds. Mr.. Fiske thereupon offered tn
, sub Joined resolution:
Resolved, That this board again reit
crates it's determination to resist b,
: every honorable means in its power tn
, valuation of the alleged bonds, fraudu
lently and illegally issued by the officer
of Santa Fe county, and commonl
: known as the Brice-C Coler railroad ali
: bonds.
Gov. Thornton and Mr.. Boyle strongl
supported the resolution, pointing out tn
, fraudulent character of the bonds and in
| sisting that there was no moral or lega
obligation on the people to pay them.
/ Mr.. Palen said that he had listened wit
} deep interest to the legal aspects of tn
case as presented by the lawyers ant
} hoped that an equitable adjustmen
would result from the discussion.
Gen. Bartlett explained that he shoul
: be obliged to vote against the resolution
as he was opposedto all forms of repudia
tion and thought those bonds should b
compromised and ulti mately paid.
The resolution was then passed by tn
votes of all present except three.