The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1900-06-21
REPORTS ON BONDS
z. G. Simmons Makes an Accounting
With the City in Regard to the
Refunding Scheme.
AID. SMITH LOSES HIS JOB
Attorney Slater Decides Against the Alder
man Drawing Pay From the City
Middle Street Sewer Trouble.

sion at the City Hall MOnQdy evening
and much business of an interesting
nature was transacted. ~sTk
AS soon as the meeting was called to
order bids were opened for the work of
macadamizing Chicago and Julius
streets. The lowest bid was presented
by James Cape & Sons, who bid 81
cents per square yard of macadan,
$1.50 a foot for the brick gutter, CSC.
for the curb and zoe. for the excavat-
ing. This bid will probably be ac-
copied, as the matter has been left to
the committee with power to act.
The construction of the sewer on
Middle street caused trouble. Although
| bids had been asked for the const1uc-
ton of the sewer, the residents of. the
street sent in remonstrance and
after litigation had been threatened
| by both sides the Council allowed the
prayer of the petition of remonstrance
and the sewer will not be built. The
| low bid for the construction of the
sewer was presented by the Reichert
Construction Company of Racine.
The matter of protests against
sprink1ing was presented in a new
light to the Council by the City Attor-
ney, who held that the Council had no
right to rescind their action after the
sprink1ing had been ordered and con-
tracted for. Under this ruling the
sprink1ing of Milwaukee avenue to the
city limits will continue. Prairie.
avenue citizens made an objection to
| ~ &c Of
street and this matter was referred to
the committee on judiciary. - S9
| The Harbor committee reported that
! there was great deal of trouble on.
the new docks. The1ast, or rather the
west $50 feet of the dock has been
placed in soft ground and in order to
make the dock of any value it will be
necessary to drive line of anchor
piles at an expense of $3.50 to the city.
! The matter was left to the City En-
gineer and the Harbor committee to
report on at the next meeting of 1.-THE
Council.
The following report of the reftInd-
ing of the city debtlwas presented by
Hon. q. G. Simmons:
Kenosha, Wis, June II, 1900.
Statement of the refunding of the
city debt:
Received for bonds sold to the First
National Bank, Chicago ,.........,.... S173 $50
CIR.
Amount paid for old bonds. ............ $685.
Amount reserved to pay for one bond of
! 800 outstanding ACKNOWLEDGEMENTS. 100
Paid Northwestern Autograph Co., Chi
cago, engraving bonds $500. ........$E 100
Chas. B. Wood, attorney, legal opinion. 30
James Cavanagh, legal service in pre-
pairing bonds ACKNOWLEDGEMENTS. 100
James Cavanagh, expenses railroad fare,
phone and telegraphs ...............,. 9
City Council for special meeting. 30
Cash paid to City being netpremium on
sale of bonds. .........,........ 1858
s178, CSC
Herewith please find certificate of
deposit for this amount, S3368, being
net premium on bonds. l also send
with this, old city bonds duly can
ce1led to the amount of $4,000
There is still outstanding $1,000 of
the old bonds. 5000 of this amount is
in the hands of the First National
Bank, Kenosha, and will be cancelled
when we can deliver to the First
Ndl1OudI liz AcSI 4l1OOO
of the old bonds, making total of
$4,000.
There remains outstanding single
one hundred dollar bond which has
not been presented, and Up TO this
time l have not been able to locate it.
The bonds issued being III denomina-
tons of 81 900, the First National
Bank, Chicago, will not pay for frac-
tiona1 amounts and require me to de-
liver the full $1,000 for cancellation.
Being unable to furnish the single
one hundred dollar bond outstanding,
the First National Bank, Kenosha,
will have to carry the 5000 held by
them until we get the missing bond.
The preparing of the bonds was a
matter of great difficulty, requiring
much study, care and thought. 1t was
very successfully done by Mr.. Cavan-
agh. Very truly,
z. G.. SIMMONS.
Aid Curtis moved that the report be
accepted, which motion was carried by
a unanimous vote, after which Aid.
Curtis offered the following resolution:
Whereas, the Honorable z. G.. Sim
mons having successfully re-adjusted
; the bonded Indebtedness of the City of
Kenosha by the refunding bonds. Be
. . it therefore
Resolved, That the thanks of the
City of Kenosha be, and the same are
.. hereby rendered to the Hon. z. G.
Simmons for the interest that he has
/ taken in the welfare of the city and for
the successful negotiation of the said
bonds thereby reducing the interest on
} the bonded indebtedness of the city
from FIVE to three and one-ha1f per
|. cent per annum, thereby causing a
: saving to the taxpayers of at least
So, 500 per year; and be it further
Resolved, That the thanks of the
City of Kenosha be, and the same are
hereby rendered to Mayor German and
Ho., lanes Cavauaph for the i,1+ereSt