The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-01-06

the board Of directors 10 conclude that the
city. before It undertook such radical
step as the cancellation Of the company :
franchises, would at iezS1 give the carpor-
alton and It's counsel full and ample notice
Of the time when these matters would De
heard and give fhe company an opportu-
uEtv OF presenting its rights from the
standpoint OF the corporation, and OF
the Stockholders who are residents OF and
heavy taxpayers in the city OF TacoUa.
rather than 20 consider the matter upon
tire representation Of numerous condhold-
erg residing in Boston. New York and
elsewhere, and who have probably nothing
In common with the interests % our city
and her people aside from the principal
and interest due upon their bonds. II the
company was given a hearing, or II there
is any manner in which il can be given
hearing at this time. believe IL can sat
isfy the council that its action has worked
q great injustice 10 the company and It's
stockholders Several months ago the pol
icy OF the corporation was radically
changed. and IL has instituted proceedings
against the General Electric Company
and the bondholders al whose instance
the receivership Is now maintained for
the purpose OF compelling those bon9hold-
ers To surrender the bonds and large
amount OF the stock OF the company,
" Inch the stockholders and the corpora
tfor maintain was procured illegally ana
fragdulently. These proceedings are now
pending in the United States circuit court
ar Tacoma. and II Is my opinion that they
will De successful or win result in forcing
these numerous bondholders into such
position that they must permit the corpo-
ration and iis affairs 10 be reorgan-
tied by people residents and taxpayers
here. This will result in the property
coming back into the control and under
the direction OF the Tacoma people. end it
council. or any other public body desir-
ing 10 promote the welfare or the city for
example, 1 will say To you that the pres
ent president and directors Of the company
desire 70 lay Belgium blocks betweea the
rails on Pacific avenue, instead Of the
plankiug which has been laid there BY the
receivers and that this permanent and
hIgh-cfass pavement viii b laid as soon
as the corporation can secure control OF
the properties through the proceedings IN
the court above referred TO. Ii is also our
policy. as soon as this litigation is closed,
To construct d line across the Eleventh
street bridge to the fats, with a loop
which VIII connect with the lies in the
southerly part Of the city, and also to
construct Ene along the water front TO
old Tacoma, as soon as the negotiations
now pending between the railroad COM
pany and the city result in such street
being opened 10 the public. These are only
q few or the matters winch i SoHil IKE
10 have you consider before approving the
ordinances OF forfeiture as passed, be-
cause / cannot believe and do not believe
that the members OF the council or the
members OF any OF the committees who
have investigated this matter, have ever
understood the situation from the stand
point OF their fellow citizens and fellow
taxpayers IN this city"
The document was filed without com
ment. The following resolution was then
introduced by Kleeb and referred 10 the
council In committee OF the whole, &c meet
next Saturday at 2 O'Clock, when both
matters will be considered:
Whereas. The Tacoma Railway K Mo-
tor Company is now occupying South
Twenty fifth street from Pacific avenue to
East r street with its tracks, poles and
wires and Is using the same for the pur-
pose of running the cars: and
Whereas, The occupancy Of said street
IS without authority of this council and
contrary TO and in defiance of the rights
and dignity OF the city TO manage and con-
troll the use of its public streets as pro-
vided by the charter; now. therefore. be IL
Resolved. That the mayor and board of
public works be and hereby are instructed
10 move said track, poles and wires from
said street and to prevent the use 81 the
same for railway purposes without the
authority of this council first obtained"