Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1906-02-20

AK liSt, were present.
H. sr & Company, agents
for the own~ of Santa Fe County
bonds Attorney r RI. Hanna, dur
| ing g, mt visit to New York City
| Ine petitions ask for a settlement OF
the outstanding railroad bonds of the
county, Judgment thereon and their de
/ linquent coupons on a basis Of 40
cents on the dollar at per cent In
terest or of 30 cents on the dollar at
per cent interest These petitions
were circulated by Attorney Hanna.
Judge N. B. Laughlin and others, sew.
eral months ago In speaking of his
interview with members of the com
pany, which followed. Attorney Hanna
today said:
Officials Spoke Freely
These company officials spoke quite
freely about the matter saying that
they were not in position at the pres.
ent time to consider q compromise Of
any sort since they were bringing ev'
cry effort to bear, In an attempt to get
Congress to arrange for the payment
of this county's bonded Indebtedness.
'l told them that the residents OF
this county were 50 situated that II
would be impossible for them to pay
out on basis of 100 cents on the dol
lar and that if they ever succeeded In
paying off the Indebtedness, they
would have to secure terms within
| their reach.
THE company representatives said
that they realized the load under
which this county was laborlng and
that If they failed to get the matter
settled by an appropriation from the
federal government, they would then
take up the question with the tax pay
ers here and see what could be DONE
in all fairness to both sides, toward
Arranging basis of settlement
Hanna Explained.
During the early part of our talk. !"
said Attorney Hanna, they said that
they had been considering the advisa
bility Of asking for a receiver for the
county. in order to secure settlement
Il quickly told them what such action
would amount to. If receiver were
'appointed and the county taxes were
raised In a proportion necessary to
make payments on the Indebtedness.
then the property holders of the coun
ty would have no inducement whatever
to remain here Real estate would
depreciate in value until all property
owners would dispose Of 1t as rapidly
as possible AS a result, the property
would be as far as ever from paying
off the indebtedness. told the com
pany officials that II this county were
put In such shape that the land was
yalueless to the present residents, it
would also be valueless to the owners
of the bonds They quickly saw the
point and all further talk of receiver
was dropped The members of the
company said that they realized that
the present state of affairs acted much
as mill stone about the neck Of a
drowning man. That as things now
stand, we Santa Fe County property
holders were not In position to ask
capital to come into the county and
that we could do nothing toward build
ing up our part of the county except
at a great personal sacrifice.
Need Chance
Il told them that If we were given a
chance, we could quickly place our
selves in position to pay off our In.
debtedness, as the Territory Of New
Mexico was making rapid advancement
and that the seasons had been very
prosperous. There Is no doubt but that
the bondholders now see our position
In clearer light and that If Congress
fails to take action, we can secure q