Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1900-01-16
proposition, and to make further report
Of their doings to this board.
The report in full was as follows:

| DTUUOSIUlOus anu W mdho lul UuOl ICpOlt
Of their doings to this board.
The report in full was as follows:
MAJORITY REPOR TO RECOMMEND COM
PROMISE WITH BoNDHoLDERs.
Santa Fe, N. M, Nov. 20, 1899.
TO the Honorable Board Of County
Commissioners Of the County of San
ia Fe:
Gentlemen: The committee appointed
by you on August 10. 1899, to arrange a
compromise with the ibondholders Of
santa Fe- county bonds. beg leave to
submit the following report Of their pro-
| ceedings and recommend to your hon
| orable board to submit to the holders
Of the county bonds the proposition Of
compromise contained in this report.
The committee held it's first meeting
and duly organized Oh Tuesday, August
90, 1899, by electing Messrs. R. J. Palen
chairman and president, and George
W.. Knaebel secretary, and the follow.
ing subcommittee was thereupon APP
pointed, viz: a committee on data"
consisting of Messrs. r. J. Palen, NAL
celtno Garcia, Frederick Muller and
Levi A. Hughes; a committee on cor
respondence," consisting Of Messrs. r
G. Gortner, e. A. Fiske, Arthur Selig-
man and George w. Knaebel; and 4
committee on memorial to the bond
holders" consisting of Messrs. L. Brad
ford Prince, E. l.. Bartlett, Max. Frost
and e. A. Ffske.
Your committee has held several
meetings at one Of which the report
Of the committee on data was sub
mitted and hereto attached as a
part hereof, Is such report, marked,
Exhibit IA" and at another Of
which, the report Of the COM
mtttee on memorial to the bondholdars.
was presented and approved (Mr.
Fske. however, voting in the negative),
and a copy Of that report is also hereto
attached ~ a part hereof, marked Ex-
hibit 3D." In relation to the last men,
TONED report, your committee have to
state that the chairman OF such SUBJ
committee, L. Bradford Prince. was
called away east, emitting to have
signed such report, and Mr.. Fiske, the
fourth member of that subcommittee.
did not sign Its report, but submitted a
separate statement or report to your
committee, and which separate state
ment or report is attached to a minor-
ty report of your committee to your
honorable body, signed by Mr.. Fiske.
and such minority report Is hereto also
attached al a part hereof, marked Ex-
hibit &C."
In submitting the foregoing, your
committee desires to say that the rec
o~mmendation OF a compromise on a Is
per cent basis, IL based solely on their
conviction, after q careful investiga-
ton, that that is all the taxpayers Of
the county can pay consistently with
their remaining in the county. Your
committee would prefer to have this
debt, principal and interest, paid IN
full, to the last cent, and by their rec
concentrations do not wish to be
thought to In anywise encourage or
favor the failure to meet public con-
tracts according to their full require /
ments; but 1t Is manifest chat a debt
has been incurred in the county far be-
yond the abilities Of the inhabitants to
carry, and, II 1t is insisted by the bond
holders that the full amount Of this in
debtednees shall be paid according to
the original contract, then, in the opin-
ion OF your committee, the county will
have to be abandoned as a business and
industrial point, as It will simply be
10 continue to exist for the
larger part Of the population Of the
county now engaged in different enter
with the burden OF taxation
which will become necessary, to meet
the annual interest charge on the pre-.
sent debt. With the withdrawal Of the !
greater pat Of the personal property, It
10 quite evident that the land Of the
county under existing conditions, agri-