Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-07-31
THOSE HALE NOTES.
Foxcroft Hires Money to Pay
Compromise Committee
For Notes It Purchased from Holders
Who Wouldn't Compromise.
By This Action the Taxpayers Are Annually
Saved Over $1,000. /

town meeting in the Town hall, Sat
urday forenoon, which was one Of the
shortest, most harmonious. and with
all one of the most important ever held.
Promptly at 10 o'clock, Clerk w. NJ.
Steward called the meeting to order
and proceeded to read the warrant
which was the same as given in the
Journal several days ago.
Article | was to choose moderator
| and the ballot resulted in the unani-
nous election Of VIM. +. Cakes. who
was sclectman at the time the famous
Hale defalcation was brought to light.
When article , came up for action.
| John +. Hughes, Esq, chairman of the
| FoEcrOft compromise committee was
introduced ana made the following ex
PLANTATION Of the objects of the meet
| ing:
The object Of this town meeting, to-
| day, is To refund the town debt at Il
lower rate Of interest ana have the
! town assume the debt as far as it can.
| At the time this committee paid the
/ note holders, ii gave $9l25.22 i'll notes.
to individual note holders on two years
| time. Therefore these notes are not
| due until year from now; but the
amount hired from the bank now
amounting with interest to ST. 500 90
which is all du, in August. we wish the
town to take up. which can ~ done by
giving town notes to the amount Of
S23.S%1.i6 ut 3A per cent. interest the
amount voted by the town. ana a small
amount remaining in the committees
hands making up the difference. W.
have made arrangements with the
Savings Bank to take notes payable
$4,000 per year commencing two years
from this coming August. This Will
give us two years to pay the individual
notes outstanding"
Following Mr.. Hughes explanation.
Hon. Willis +. Parsons made the fol
lowing motion: Il move that the town
vote to hire at a low rate Of interest
The sum of $23 SSH IS to enable the town
committee, John +. Hughes. Josiah Is
Mayo and Wainwright Cushing to set
tie. at p cents on Il dollar. with the
holders of notes against the town IF
FoNcroft, amounting to 9J.325.Si; said
notes 50 settled to bc cancelled ana
surrendered to the town treasurer ana
list thereof 70 be properly recorded
/
at once seconded and was unanimously
adopted. not the slightest show Of any
| opposition being apparent.
| In relation to article , Mr.. Parsons
made this motion: II move that the
| town vote to instruct the town treas
urer ana sclectmon to procure said
sum of $23,S31.i6 by issuing town notes
| therefore at rate Of interest not OK
ceedinS 3ai per cent. per annum. to be
| used by the committee. and for the
purpose named in the preceding vote
| This motion was also seconded and
unanimously adopted. not voice being
raised against it,
In relation 70 article regarding fur
! Their instructions to the town treasurer
and selcctmen the following motion
| made by Mr. Parsons. and seconded
| was unanimously adopted: II move
that the amount of each note so given
by the treasurer ana selcctmen to make
! up said sum Of $23.S3l .i6 be rs follows;
$4,000 payable III 3 years from date
thereof.
$5,ooooo payable in years from date
thereof.
50. Qo9.oo payable in years from date
s5.ooa.oo payable in 6 years from date
thereof
s., >&l.iG payable in years from date
thereof
After the adoption of this motion the
meeting adjourned sine die as there
was no other business to come before
il.
4 great deal has been written about
the famous Hale notes. but the follow
ing brief history OF the defalcation and
outline Of the great work done for the
town by the Foxcroft compromise com
mittee Will be Of interest to the readers
Of the Journal.
The Hale notes" it will be remcm-
bored, We're notes given by the late
Judge Eii1s J. Hale against the town
Of FoXcrOft while he occupied the Of
flee Of town treasurer for so many
years. This money which the note
holders supposed was being used by
the town. was hired II different periods
during his UCcuplnce Of the Office and
quietly appropriated to his own use.
judge Hale committed suicide. in 1894,
when he found that it was no longer
possible to conceal the cmbcZzlement
ana thus escape punishment under the
laws Of our State. His books were at
once ovcrhauled and investigated and
coming like a thunder clap from a
clear sky when the town supposed
themselves to be nearly free from debt
they were suddenly involved in debt
Of about $4,000 by this dcfalcation.
After a while several Of these notes
became due and the town was sued
and the cases taken to the law court
where in a few Of them decision un-
favorable to the town was rendered. |
Following these decisions. the town
elected at its annual March meeting, in
1898, the FONcroft compromise commit
tee, so called, and Instructed it to COM
promise the Hale notes upon a basis
Of . cents on a dollar the whole
amount not to exceed $4,000.
This committee was composed Of
John F. Hughes. Esq, chairman, Hon.
Josiah r. Mayo and Hon. Wainwright
Cushing. Mr.. Hughes is senior mem
Der Of the well-knoWn firm of Hughes
& Son. the piano manufacturers, q