The Saint Paul globe., 1899-05-28
ACCEP'FS 100000 CASH
COUNCIL WILL RECEIVE THAT IN
SETTLEMENT OF THE OITY'S
CLAIM
AGAINST THE ALLEEEANNIA

500, 3,OGO-AIdermen Pass the Or
dinance Allowing the Street Car
Company to Use Cedar street.
Market Site Question Referred to
COmmittee-ROutsne Business.
The assembly and board of aldermen
| held adjourned meetings last evening and
passed resolution settling the claims of
the city against the Allamannia bank in
the sum of 500, ,0S2.O4 for $4,000 in cash.
| The resolution was adopted by the
board by a vote of to g. Messrs. Bloom
quist and Donahower voting against 1t.
and in the assembly all the members with
! the exception of Assemb!yman Nelson,
who was absent, voting for it. The reso-
luton reads as follows:
Whereas, The Allemanna bank is in
debted to the city of st. Paul in the sum
| or $S9, ,OS2. on on account of moneys of the
city deposited in said bank by the city
treasurer, which sum the bank is unable
to pay: and
Whereas. For the purpose of compro-
missing the said claim the said bank the
sureties on its bands and on the bond Of
the city treasurer. have made a pro-
posal to the city to pay within ten days
after the passage of this resolution, the
sum of $4,000 in cash. and in addition
to procure the release to said city. of the
claim now held by the Anchor Invest
ment company against said city for the
sum of $975.12, claimed to be due on ac-
count of the condemnation of lot 80,
block II, Subdivision HilIs addition; and
Whereas, The common council deems 1t
for the best interests Of the city to ac-
| cept said offer to compromise and release
the said bank from all claims on account
| of said indebtedness, and also the sure
ties on its bond and on the bond of the
| city treasurer; therefore, be it
Resolved. That the said proposal and
| offer of compromise of the said Alleman-
MIA bank and said SuretieS be and the
| same are hereby is in all things accept
ed. and the mayor and city comptroller
are hereby authorized and directed, on
the payment of the said sum of $50, 600 to
the city treasurer by said bank or sure-
ties within ten days of the passage of
this resolution, and upon the filing with
said claim of the Anchor Investment
company, in such form as may be ap-
proved by the corporation attorney, to
execute to said bank and said sureties
the necessary receipts or releases in or
der to fully carry out said terms of
compromise.
MARKET SITE QUESTION
The assembly transacted no business
except to concur in the passage of tho
Allemannia compromise resolution, but
the board of aldermen waded through a
SriSt of routine.
The aldermen referred the report of the
special committee on market site to the
committee on streets and declined to lis
ter to propositions which Christopher w.
Horr and III. s. Fairchild desired to make
relative to the purchase and leasing Of
sites.
The assembly, at a meeting Wednesday
night. voted informally to select the
block bounded by Ninth, Tenth, jackson
and Robert streets for a market site
When the report was reached last evening
Aid. Knauft moved it be referred to the
committee on streets and this action was
agreed to. The proposition of c. w Horr
to sell to the city the property known as
the ConStans site for market was also
sent to the same committee. The propo-
sition of Mr. Horr is to sell the tract
with a frontage of $40 feet on jackson.
23C on Tenth and $40 feet on Temperance
street for $52,500. Mr. FairchiEds plan Is
to rent to the city for a term OF twenty
years the Eagle street tract at 81, 600 per
year
| Although nothing was brought up at
| the meeting of the board, it mas been do
ctded by the aldermen that 1t would be
| much cheaper 10 lease a suitable tract
for market for five years than to put
from 100000 to coo into the purchase
Of site. For this reason the matter was
referred to the committee on streets for.
discussion and consideration.
THE ALLEMANNIA PROPOSITION.
The aldermen had the first chance at
the Allemannia bank proposition. The
report of the joint committee on WAYS
and means recommending that the first
| proposition of the bank to settle by trans
| ferring job lot of assets oe rejected was
! adopted.
]
| President Vanish of the AIlemannia
I bank, said he had made an effort to in
| crease the terms of a settlement above
! the $4,000 cash offer which he had made
to the committee. The stockholders and
bondsmen, however, could not raise more
| than 100000 in cash
M. ID. Mum, representing several of
| the sureties on the bond given by the
bank to the city in 1895, said three or
! four of the bondsmen had decided to
raise $4,000 and settle the claim. II the
proposition was not accepted the city
would have to take it's chances The 9TH
er bondsmen had refused to pay anything.
claiming they could not be held on the
bond.
Aid. Knauft said the rejection of tho
| $3O,OOO cash proposition meant that the
| bank would have to again go into the
hands of receiver. If this occurred NOT
| only the city but others would be put
! 10 considerable loss. Receivershfp and
| attorneys fees and court costs would
| eat up the money and there would be
| long litigation
First Assistant Corporation ATTORNEY
Iaylor said there was a question as to
liability of the sureties on the banl,
bond and also as to the sureties on the
bond of the city treasurer. In any event
there would be a law suit and law suits
were uncertain.
Inc resolutions as published above was
adopted, Messrs. Donahower and RIoom-
quist voting against it.
CEDAR STREET LOOP.
The street railway ordinance, granting
| the company the use of Cedar street he.
tween Seventh and Eighth streets, for
single track, was passed after an as
| sembly amendment objectionable to tbe
company had been eliminated.
MT Mum, representing the company.
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