Omaha daily bee., 1902-03-29
AFFAIRS AT SOUTH OMAHA
Republicans Hold Big Meeting at ArmOry
in City Hall.
KoUTSW DISCUSSES CITY BUSINESS
Representative Of Financial Concern
Says Present Holders of Bonds
VIII Not Consent TO the Re-
~ newal Arrangement.

Another enthusiastic rally Of republicans
was held at the troop armory last night.
As a week ago, this meeting was held under
the auspices OF the Swedish-American
league No. 2. John Nelson presided and in
troduced the speakers
One OF the first speakers was Frank
Koutsky, republican candidate for mayor.
After the hearty applause had subsidized
Candidate Koutsky spoke, in part. as fol-
lows:
"As you all know, 1 am not much OF a
speechmaker, but / do desire to say a few
things about municipal affairs. Since l have
been city treasurer more personal taxes have
been collected within the period of two
years than during any similar time in the
history Of the city. The records of the
office show, as expert accountants vouch,
that every cent collected by me as treas
urer has been accounted for. Some people
say that ] received money on daily balances
from the local banks. This Is an absolute
misstatement. Tit banks do not now and
never have paid me a cent of interest on
daily balances. This practice was discon-
tinued over two years ago for the reason
that the city might have large sums on de-
post one day and the next the treasurer
might issue a call for warrants and draw
out all OF the money on hand. l have done
this frequently in order to save the city in
terest which 1t pays on warrants"
The brief address of Mr.. Koutsky was
well received and he was given an enthusi-
nstic reception as he left the rostrum.
other candidates on the ticket followed
Mr.. Koutsky and the meeting was consid-
cred one OF the best SO far held during
the campaign. There was another rally at
Evans hall, Twenty-eighth and r streets,
where the candidates also spoke.
.TPrus city Must Bring SUIT.
eft the Johnston KeIly-Miller combina-
liion expects to deliver to c. Bevin Old
field the recent issue of s14O. 900 OF renewal
bonds It is badly mistaken" This state
ment was made yesterday by a representa-
tive of one OF the big bond buying houses Of
the east. Continuing, the representative
said: I'm the first place, considering the
undetermined work which has been done
and the manner in which the ordinances
were passed no bond attorney would consent
20 such a deal. Next is the reluctance of
holders of the present bonds to let go of
securities which they now hold and take a
lower rate Of interest. One concern in the
east, a big banking house, virtually controls
the original issue and 1t will not, to my
certain knowledge, ask its customers to
turn in the bonds they now hold for others
to be issued at a lower rate Of interest,
Just because some politicians who are going
out of Office want them to. The original
bonds were issued for twenty years straight
and the holders will endeavor to force the
city to carry out it's agreement. At any rate
the renewal Of this issue OF bonds at this
time is illegal for the reason that the pres
emit city charter does not provide for an
option after the expiration Of Ave years.
1t is true hat the old charter did, but the
city has been working under the new char
ter for n year now and 1t cannot go back
to the old charter because the combination
mentioned suddenly takes 1t into its head
TO try and save the city money. II is a safe
wager that II the present city authorities
attempt to perform their part OF the con-
tract with Mr.. oldfeld they will meet with
some stubborn opposition from the holders
of the present bonds"
Democratic Tactics.