New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-04-09

Sested was to raise more mon sne f. possibe and
build steam m power house 70 supplement lathe the
nsSsIsnt Every tme e the rain e held off for
over the duty of the people to build steam power
house to prevent the total loss Of the capital IN
little practical value to Austin but its loss leaves
the city badly crippled and in sore financial dis
tress.
FINANCIAL CONDITION OF THE CITY
w F. G. shanks, Editor of THE Bond Buyer
of this city. said last evening, In regard to the
financial condition of Austin:
1t was charged at the time of the passage Of the
law the construction OF the da n ah the
amount of sis27 900 that the dam was really pro,
qtetly bought long. If not large strips of land at
considerable distance back from either bank , T'
but which. the completion of the work, fronted
ola Sn se hHs ad
posed to construct beautiful villas thereby aaGns
projected to run to and from these suburbs; the
lake to be supplied with light craft of every rom
meree to be accommodated, as the Colorado above
Austin is not a navigable stream ouo
ever constructed. but the dam was completed about
repaired, and the lake created has since been used
as reservoir to supply the city with fa Austin
Light, Heat and Power Company had previously snS aX
Years ree to c run hs was
chiefly of Northern stockholders among the e iarg-
Of this city and a suit brought against the
city. and is now on appeal to the United states
At the time the dam was projected the credit Of Of
issue ine bonds BEARING the high rate Of the
interest on which was to be paid qnarery Commonly
pay then the bonds dq not ST s sell
Soatlon Of the franehss LsG5 Heat 5rot snd
Power ComPsany firm firm Of issue s par and the
bonds were sent to the National City Bank of this
bonds the brokers' had gone out of existence. The
bank held the bonds for long time and may nahe
interest the fiscal agent Of the m9nlCpaity antl
n ecdd Ra per the cent nigh
a rate for such city to pay, and refused to pay
the Snass the holders Of the would
to 10 @ S the nn are not Subject to
until 1910 the holders naturally objected to
by the Common Council 49,
at GOING oSe o b bo 5e large sum Of
which will be needed to repair the great aieTi i
Of the poor in the parts of the city flooded by the
ssdsfn ssr g6os Of aa
assessed valuation Of only so StS its tax rate IS
n Eh 5 eay wR so on dsn draw aF1
nd of hs nees the
fused pay the interest due January j. there nav,
before quorum could be secured. Boston holders
of some of the city. bonds Cnot necessarily the
cover the interest in defar {. am very much
eftabshes its vi" credit In the mean time may
expect early solicitations for aid for tae sufereTs
bondholders will probably respond literally but at
the same time pushing their suit to recover their
interest with risor 1t is peculiarity OF the
Northern people to demand their own but to give
freely in aid of the suffering.
TRAIN WRECKED BY SPREADING RAILS.
Laredo Tex. April s.--The northbound passenger
train which started from here over the 1nterna-
tional and Great Northern Railway this morning
was wrecked by the spreading Of the rails
Twohi about noon. The entire train except the
engine. into the ditch. Mail Agent S. E Bright
seriously injured and several others less
seriously hurt. Further details have not been
ceved here.
The Rio Grande has stand at twenty
six feet, without damage to the bridges here. but
the waterworks machinery is submerged and the
crops along the have been destroyed.
TRAVELLERS DELAYED BY WASHOUTS.
San Antonio Tex. April s.-A party of twenty
five tourists bound for California and twenty-five
Tyrolese immigrants. on the way to the Hawaiian
Islands to work the sugar plantations. who were
caught by the storm on the Southern Pacific Rail-
way west of De- River last Thursday returned
to San Anton iay and sent around by
of Fort and the Texas Pacific. After
the storm the found themselves a wild
Antonio and nine washouts and missing bridges
between them and FL Paso. The damage the
Southern Pacific between here and Ell Paso is esti-
mated several hundred thousa nd dollars.
.s