The Beaumont enterprise. [volume] (Beaumont, Tex.) 1904-current, 1904-09-24
H. B. BETTYS REPLY
TO JUDGE WHEAT

The bonds were dated Oct ~, 1905
They were approved hy the Attorney
General ana registered by lA' '''','
trollcr Nov. II, 1908 Ih"l on w,
same date Judge Wheat apl'"I." "'
Austin aud there met Floyd 'ht Vs.
ne does NOT state I'm his letter What
prlor arrangement he made with
Floyd Shock 10 have him meet nm ~
Austin. Judge Wheat at one "N'"cN
of the same date sold no iiuh"' "a
shock a Co." for their par Na'ht anu
ace ned Interest 10y plocin. me 10" w
in escrow with The Austin Na'"nI'
Bank M Austin for Shock q co" WIN
= contract giving Shock a CO., zen
days Optiun with thirty days IN Wh''"
~ pay for the bonds,
And this was all done before the
ink was hardly dry IN appr"'lnH s''"
bonds by the Attorney General.
What effort does Judge Wheat snow
IN his letter that he made To sen ta''
bonds To the highest bidder ailcr 'h'N
were approved?
This was the finest bond Jefferson
County ever issued II Was far slNO''
400 at & per cent to run To- forty years
with an option for The County I" '''
.lecm nj any period aitnr twenty years,
md these bonds were sold 10 FlnFl
Shock. for their par value a. SlH"'Oo''
md It's accrued interest amounting 10
$50 few hours after they hah b''h
.lyen n legal existence, Tac same
Ionds that Floyd Shock sold 10 me
state Board Of Education on Jan. Il.
1904. not two months later. Tor SliN.
l-S.3I A net profit Ia Floyd Shn"k 81
e17.72S.3i. Making Shock Il Co, Il
handsome dividend or two l. ansacllo
OF over Twenty Five Thousand dollars.
II the State Board of Education dlu
not have the money ON the IAN day
of November. 1903, il Is a matter "l
common knowledge that the SAID hoarh
is always in the market Tor such hl%ll
cIoss county bonds and would have
maid n good premium and did in less
than two months pay premium oi
over Seventeen thousand doIla.S 10
Floyd Shock for bonds. a matter thal
County Judge Wheat could have easily
determined by proper inquiry. even
this | know. Notwithstanding Judge
Wheat would intimate to you that
do not know where Austin IS situated,
Judge Wheat fails 10 state what
Shock & Co. paid Jefferson county
fer the privilege Of having an option
on SIOO. 900 Of Jcffc son County bonds
at their par value for tons days WIZ
the privilege of paving for same IN
thirty days Is il right that such favor
itism should be conferred upon "Shock
g Co." at the expense of Jefferson
County?
What business man acting in Judge
Whcat's place would have tea nf
500 600 per cent bonds, to run fol
forty years, rcdCemablc after twenty
wears, bonds that were bound 10 Drlns
a very large premium in the money
markets Of the world. in an option
Inv placing said bonds in bank IN
I escrow for ten days with the privilege
IF thirty DAYS to pay for said bonds
without any security or consideration
being given or paid by "Floyd Shoch
6 COZ"
And all this was done by judge
Wheat within a few hours afte" the
bonds were approved by the Attorney
General. giving them the legal right to
exist.
In conclusion, | beg of the reader tc
Judge would yOu have sold these bonds
t. thCy we're your own property, WIN
a. little diligence for the welfare Oh
your own advantage as the facts above
indicate. and if not, why should not
Tie County Judge be held to the same
degree of diligence in the investment
@" your bonds which you and youl
Dostcrity must pay?
Very respectfully submitted,
Ii L RottX.