Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1905-07-19

ter in the noted Watertown railroad
bond cases which for fifty two years
hung over the city and retarded the
growth of one of the finest inland cities
in Wisconsin. Watertown was incor-
porated in 1858, and in the same year
was authorized by the legislature to
issue bonds for the building OF rail
roads. Bonds to the aggregate amount
of $3.50, 900, were issued in 1858 and
1856. The amount of 5000, 900 issued
to the old Chicago, St. Paul and Fond
du Lac railroad were redeemed by the
company, now the Chicago and North
western railroad by issuing stock on
a 60 per cent basis. The other bonds
were never taken up by the railroad
companies.
At different times the city attempted
a ompromise and met with some sue
cess. OF the $4,000 Milwaukee aud
Watertown bonds $13, 900 were settled,
of the 5000, 900 Watertown and Madi
son bonds 500, 900 were settled, and Of
the $20C, 900 Chicago and Fond du Lac
bonds $172 500 were settled, making a
total settlement of $3.50, 500 of the
original $3.50, 900. The amount Of
$40, 600 judgments and interest, was
taken up by the City Debt association,
composed of business men and organ
lied in 1878. Later, an association Of
bondholders was formed for the pur
pose of putting a stop to such compro-
banded At this time, 1873, the debt
! with interest was more than the ss-
sessed valuation Of the city, and be
fore the settlement with Elias Mariner
in 1891 amounted to twice the value of
the entire city At this period an as
sociation known as the Union league
was formed. composed chiefly Of work
ingmen, who fought the payment of
the bonded debt under any circum-
stances, and for years every attempt at
/ getting service on the city was fought.
Mayor Fred Kusel was elected in
1872, but resigned in 1878 when it was
known that a service was demanded
of the city, and from that time until
1898 the city was governed by board
ard aldermen were elected each year
and qualified at a meeting having writ
ten designations upon their desks.
After levying the taxes and electing
city officials they resigned, and the city
was without a head and no service
could be had by United States mar
shals, who vainly tried to secure
proper service. On two occasions
members of the city council were ar
rested ard taken to Milwaukee on con
tempt proceedings, but were released.
The settlement with E. Mariner was
| brought about in 1891, when in con
sideraton of $1,000 he delivered to
the city bonds and judgments to the
amount of $l35, 600. This really
settled all the outstanding bonds with
the exception of the Metcalf Judgment
| The original claim was only Sc, 200,
but when the last payment was made
today the total principal and interest
reached the sum Of about $40, 600.
In 1866 Judgment in favor of Pit
kin c. Wright was rendered against
the city in the sum of $l0,257.61, the
original claim being 5000. At that
| time the city had full council and
proper service was had. This was
| afterward transferred to Obedia Met
calf. The point at issue was whether
the statutes Of limitation ran ten or
then elapsed, 1888, and the city coun-
Gil employed counsel to determine
whether the bonds were OuGlawed or
not. A new suit was begun by Met
calf in 1888 to recover on his judg-
ment but he failed to get proper serv-
ice. Later the city counsel waived the
/ informality and ''vouluntarily ap-
| peared' to defend, and the end of it
was that the city lost the case and
paid its final payment today.
In 1853 the city voted aid to the ex-
tent Of $50, 900. in bonds, to the Mil
waukee and Watertown Railroad com
pany the bonds to run ten years at 8
per cent. interest. Watertown, before
the advent Of the iron horse, was
prosperous city, and its paper found
advantageous and ready negotiation
everywhere. The city was secured"
in this bond issue by the promise of