The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-11-25

TIE city C~aaeu lnvessi9ates the
spsta0 MN water c.. oosa Deal
- letter Fsem she Mayer.
4 speeiAi msessn3 OF tie city council
Vas called yesterday morning IL discuss
tie Spring Hlsl Wafer comparys bonds
villa The easy coanrsl nat The heads OF the
various city departments The situation
was placed before the cpanei ~ CONE
mani-asisn srsm the mayer. After lonE
ciscusszsn. whsch show "a appreciation III
me serioae position il which the city
might ind itself. q re2olutscn gas passed
Instruesing the mayor, city comptroller
corporation counsel and finance committee
70 Investigate the matter. and report next
Monday night Al the regular meeting Of
the council.
Mayor Woods Communication was ~
fellows.
To the Honorable the City Council Of
TIE City Of sezttie-Gentiemen The inn
msQiase occasion for the calling togetesr
os yeuF honorable body on this date 10
nrst time TO the executive office OF the
eitf, ~ the fact that 2Se,Due OF the hoaas
Agsigst the ola Spring HltI water plant
n hs year sa asys e1aa sss y s s
OF BY the sprtng Ain water Company
These hoRds have always been sup
pessa y ~ a nc sssf Officers and ne puslls
nsde fail payment Tor t the ps.ns accord.
Ing 10 It's contract with the Spring HUI
water Company ~ the time Of The tyans-
The county records seem to show that
there Is SIN . suhSistsng lien AGAINST the
Gay water plsnt for the security Of .hess
ins information OF these facts. lie unster-
signed, together with Jour city eompgrcl.
Ter and corporation counsel. made such
ssy o. x sns e eSsnns d T YES
tigatif n has necessarily been vary iiasfs.
ard aur Informs ton Is not corr'eie Wa
are informed that the Spring Hill Water
Company upon receipt q its purchase
money from ths eiss PAID OF ~ .s..,s
OF second bonds, amounting To ti5ooet
snd rendered 60 the holders 81 the bonds
the holders rue aseay e s :. ee eay sa
before maturity. unless premiam OF
bonus were paid to them,
Tia. the spring Hiii Wafer Company.
lperty, without any notice 70 the city. ct
holding this money, and lending II ~ se=
attic for the purpose Of avoiding paymeat
holders. expecting To have tha money on
nand Tor its loans when the bonds should
That said bonds masured On the srxs
day Of the present month.
That the Spring Hill watsr Company
has, since isso always paid the interest
on these bonds. as II fell due ssmi-an-
That on account Of the financial strin-
gency now prevailing, said Spring hin
Water Company Is not able at present 10
realize the money from the securities on
which II was loaned, and declares itsaK
e he unable 70. meet said bonds until ii
shan have few monthsf time in which
TO realize on Its securities.
That through lnadvertence or over
slshf The legal advisers and Officers of the
city In. the latter part OF the year 1880
allowed Nnal payment 10 be made for the
CITY water plant without seeing that all
prior liens thereon had hesn paid on.
a. Inat Tour ainerens LAWYERS we're act.
times during the long period that elapsed
peswsen the nsst contract with the Spring
Hin Water Company In isss ana TIE fnai
closing Of the sale In November, 1850
IN some confession or MISUNDERSTANDING
besween the different LEGAL advisors OF tha
city. which gass an opportunity for this
nnrrrtnnate oversight,
no has been Ioared IN the city Of Seattle
BY the officers OF the Sprinx Hsll Water
Comnany. and 10 now held BY such ofYic-
ers IN the form Of loan securities for the
retirement OF said bonds
That we are assured by the of~icars ~
the Spring HUI Water Company that they
VIII pay said bonds and save the CITY az
Seattle from any loss on account thereof.
we are informed by the attorneys Tor
uncerfasn DELAY will be tolera led and shst
they VIII proceed At an early date n IN
,orse their len against the water plant
The executives and officers Of the city
desire your advice and direction in reia.
ton 10 this matter. and therefore sun-
mil TINS brief communicate for -eu,
ccnsioeretion. toTether with such ether
.ntorm,ssscn - may b brought 10 ycuy
r. = have the honor e remain. with rrea.
respect. Nv, D. WOOD. Mayor"