Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1898-09-30

the properly was purchased for the surn
OF 800. 600. OF. course twas supposed
that for that exorbltant sum the CITY
would actually get the property, but
10, and behold it leaked ont that THE
PROPERTY SOLD WAS COVERED
By AHUGE MORTGAGE Invests
CATION followed and tao real facts,
taken from the fdclaI RECORDS, are thu,
summarized: 81 =.s$..>. I y
The property was six lots, in block
81 Of Minneapolis, OH Seventh Avenue
south, between flitn md Sixth slrseis,
the land Le.ug $50 by $50 feet, OR
ABOUT ONE AND ONE Halt
ACHES. Ioe contract ior purchase
was made aDou5 may ~, 1898. II
called for a warranty Ge,d 10 be dellv.
cred, and such was MADE and dellveiel
June IL, Dy Brackett. It was about
this time that 1t was discovered that
the property, instead of being clear, as
called for in the warranty deed, WAS
INCLUDED IN PROPERTY IHAI
HAD BEEN MORTGAGE MARCh
2, 1893, 10 IHE NEW YORK LIFE
INSURANCE .OAPANY FOR THE
SUM OF $13O,OOO. The city mad n,
yet paid any money. foitauatsly,
anu In the storm Ut public c.4i4clsln
that was AROUSED, if was EEK pecteu
thai none would be paid, I'D the u.s.
covery IN time, was regar deu as Alost
fortunate. However, those who nal
engineered Inc deal, including MIR.
Brackett. proceeded IN the ways anu
means best known to themselves to
get the money paid over. The first
down payment ($25,0oO) was covered
by pretended ''aulitlona- security
Decd" Bra, kstt deciding other prup
erry to the Guy and beng paid the
sum OF $4,000 toward his purchase
money of 500, 900. But it Was then
found that THIS DECIDED PROF.
ERTY WAS ALSO INCLUDED II
TIE SAME MOR1GAdE IHAA
Was ON HE nOoflIAL PROP
ERIY. The nowl Was louder man
ever, ana committees of citlzeua
WAlse1 Oh The clty's officers III pro.
test, and even puDnc meetings were
held, volclng the protest to tue may o.
and uoard tnat no NOR money Should
be palo. The oracle was worked, how.
ever, AND BRACKETT WAS PAID
ANOTHER $25, 900, he giving another
decd as Traditional security" ~Lu
THE PROPERTY DECIDED BEING,
a. bEFOhh, SOME or ThE SAMk
MOnTuAGkD PROPERTY.
Ane SUM Oh @5O,vOU hau now been
PAID and no reuuctlOn Whatever maAo
III the mortgage lnde oteduess on all,
OF the property lnvolvea, and $5O,u~u
was stlA cue BracKeIt on the purchase
CONTRACT. l.. was ag;sel that this de.
TERED paym nc OF $o1, 90 should draw
interest 1T the same rate as the lnsur.
ance company's mortgage was draw.
ing, and, hnaily, ny an arrangement
winch Mr.. Bracelet stated was made
by himself aud Mayor Eustis aud Guy
Treasurer \. Y. Hangar, tie latter
commence d the payments OF such in.
~terest, Hangar having issued therefor
'oertlncates OF lndeo;euness for $4,000
on the late Washington bank. such
pay ments O1 interest were con-
tlnued more than u year, or until
February, 1896, wnen they were dis.
continued w haugal, and the certiti.
Gates cancelled. Something like q, 600
was thus paid to Brackets. Meanwhile
the New YORK Lille na0 1Lrocl Jsed It's
.whole mortgage, the foreclosure ?prv-
sceedlngs beng g. divided, q that 49,.
900 OF the total o. $3.50, 900 stood agains y
tho Hospital SITE lots; the balances be.
ing divided as between the otne: par.
cells which had b=en decided as add.
tlonal security Also as to one Of the
latter deeds, The first, it was discovered
that the lots had not been, as supposed,
decided at al. as the description placed
them in book No. ninety" instead
- ! MI.
by q deed Of April, 1896. .e"
All efforts by Mr.. Brackett and by
the city itself, were unavalling TO get
from under the New York Life claim,
to which there was ALDO. added further
deeds, mortgages, Judgments, ETC., etc. ,
involving Bracketr. increasing che en-
barrassment and entanglements. The
upshot of the whole matter was that
the city was ont the amount paid
Bracket, $4,000, the interest,"
paid ON the other o,000.
and had to pay the Now York
Lies claim Of gu, 600, to complete the
city's title. 1 !. ~ :
The only defense ever attempted for
Mayor Eustis was that he DID NOT
ACTUALLY VOTE FOR THE
STEAL AND WAS NOT PRESENT
AT THE MEETING OF THE BOARD
OF WHICH HE WAS A MEMBER
WHEN IT VOTED THE ] PUR.
CHASE. on this point let friend
Bracket speak. The 5deal was investi.
gated by ) special committee of the
city council which brought out the
facts a. above outlined. and before that
committee Mr.. Brackett himself ap-
peared and made q full statement which
10 on file in the clerks Office in Mime.
apolis. In the course Of his statement,
as if filed with indignation that w.
Fl. Eustis, his old political and per.
sonal friend, should seek to avoid his
full responsibility, Mr.. Brackett said:
1T having been stated that Mayor
Eustis was not conversant with this |
transaction. and did not approve it. !
must here state .(although 7 am sorry |
that he is absent, for I would much
prefer to make it to him), in justice to
myself. the facts in this case. con- |
EFERRED FULLY WITH THE |
MAYOR, AS 1 DID WITH THE |
BOARD OF CHARITIES, THE |
CITY ATTORNEY AND THE AL
IDERMEN, in connection with this
(,lna1 ANrr NuT3 - a rNYr u ~ - s,yyy. /