The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-10-30

speech recently driivercsfat Cleveland
IN which he said The incts nre that
never heard Of the measure cor tne'syu.
dictate or anything about il until early
ia July last, md year after this alleged
plot was laid bare. de- not even know
who are members OF the syndicate: !
never bad any conversation with any Of
them in regard to tho sale II was
contract made on thepart Of the Govern
ment by Grover Clcvelnnd's adminslra.
iion, and the only part 81 II relating 10
this administration is that the contract,
has been agreed to on the understanding
that the syndicate should gixe five mill
ION dolla,s more for it than under the
terms made by the Cleveland ndniuis-
tration. That is all know about IL;
the rest IL II lie" This is vigorous Ian
eunge but il il fully warranted by the
slaudcrous and utterly ercundlrss ac-
cusutious made against Mr.. Hanna,
"The reorgauzltio committee has in
no way been shown the pligbtcs, fyor or
given the least advantage, "-aid nlior-
ncy General McKenna, whose wud can
not be- questioned in ihc matter
Tho road viii be sold 10 the highest
responsible bidder, without any refer
cnce to his personality. II bid oi
SOL ,OO0, 900 i. maIe, md the organi.
zation committee does not increase It's
offer 10 SOP 900 900, the property will
80 TO the parties making the new PRO.
posal The guaranteed hil wns OBJ
tanned 10 prevent the possibility IL dis
ustrous loss lithis guarantee dia not
exist, an opportunity would he afforded
for bidders to form. combination aud
offer comparatively low figure Tor the
road
"The increase IN Tie reorganization
committees bid is ensily explained
Subsequent to the filing 81 the original
guarantee bid oisl5. 75l ,O50 a mum.
Der Of overlooked contentious were dis.
covered These included the bridge
across the Missouri river at OmahH and
"a number Of money considerations.
The bridge mortgage amounted 10
about Sl,20o,oOO, the lein on the
Omaha aud Council Bluffs division to
more than S2,O00O00, and other con
tcntions brought the aggregate to nearly
Sl,00o.0OO
In view OF these contentious the de.
cIccs OF the courts were unsatisfactory
and papers were prepared for an appeal
At that time the reorganization commit.
tee increased It's bid by 81 ,5l5,0l1 TO
cover thes additional sums, thus raising
the total bid 10 even S5O,0o0.00O Ia
all other respects tic DEGREES were just
and satisfactory"
Acknowledgement McKcnna expressly
STIMULATES that there was 40 formal
agreement made between thcgovcrnmcut
and the reorganization committee The
guarantee lid was arranged by letters
between former Attorney General Ilar-
mon and special counsel Tor the commit.
tee The agreement, he SAYS, gocS no
further than 10 provide for tie appear.
ance Of the government ia suits brought
to forcclosc the first mortgage bonds
and 20 bring suit for ioreclosing il own.
The sale Of the property, be says, must
necessarily bc under the direction Of the
courts with the whole world for bidders.
The TACT must not be overlooked,
snid Judge NIrkenna, that the govern.
mcnt's lcin is a second one, subject To
aiirst mortgage Of S33 900 900. The
advantage tic government hns secured
II hat at the snle under tie tceiccs Of
foreclosure there will he a bld for the
roads OF $50 100000 over aud above