The daily sentinel., 1907-01-10


Under the head of communica-
tIons Clerk Connolly read one that
had been presented by the Ramey-Ud-
lock Investment Company, in res
ponse to a motion that prevailed at
the previous meeting of council re-
fusing to turn over the certified check
for the sum of 5000 which they had
put up as a guarantee for the pur-
chase of the bonds at par.
The communication was the report
of an attorney by the name of C. T.
Mead, of Denver, upon the validity of
the bonds and he presented his rea-
sons to the Ramey-Udlock people why
he did not think the bonds were prop
erly voted.
After reading the communication
Samuel N. Wheeler. the special coun-
sci of the water committee. said that
so far as the reasons presented were
concerned. they did not present any
tenable reasons whatever why the
bonds were not good. He said that
upon part of the questions raised by
Attorney Mead, the district court had
passed upon in the injunction mat
ter which had been argued before
Judge Stevens and that council ought
to be satisfied if the courts were in
the matter He said if the council
simply desired to return the check
on their own volition and not because
of the reasons present, he had no OBJ
lection whatever, but he did not de
sire the council to return the check
because of any purported reasons
against the validity of the bonds as
presented by Attorney Mead.
Alderman Davies had moved that
the check be returned, but after the
matter had been discussed he with
drew his motion. Mr.. Wheeler fur
ther stated that the city might have
reason for damage against the firm
who had made the bids for the bonds.
which it appeared now was nothing
more than an option taken by them.
Mayor Bunting also spoke at some
length on the matter and stated that
from conditions that have arisen in
the past month that 1t appeared that
the city had been used far period of
thirty days by parties. for their own
selfish purposes and that the city as
a whole and the inhabitants may have
suffered an irreparable injury
through the apparent deal by which
the bonds were held up for a period
of thirty or more days. while inter
ested parties were endeavoring to
land the contract. That the council
acted in good faith in accepting the
bid and if what Attorney Wheeler
had said in the matter that the peo-
pie represented by the Ramey-Ud-
lock people had all the data regard |
ing the voting of the bonds and all
other matter appertaining to the bond
issue, before they made their bid, on
the face of the matter 1t did not look
As if the council had had a fair deal
II was decided to hold the check for
the time being.
Tiersway & Hamilton, who have
presented two previous bids present
ed another bid last night. They
We're represented by Mr.. Julius Aich-
ele. Their bid was for spiral riveted
steel pipe. The amount of their bid
was S264,S95. The bid was referred
to the water committee. 1t might al
so be stated that Mr.. Aichele said
that his firm would take the bonds
at par and that they were perfectly
satisfied with the legality of the
bonds.
Then came the report of the water
that spent part of a
week in Denver. in company with At
torney Coles. They had interviewed
the general manager of the Denver
Union Water company and has ascer-
-ained a large amount of general in
from him. Chairman o.
Boyle also stated that they had visited
I'd many bond buyers and that they
'ound all of them united in the state
nent that the bond market was ex-
,eedingly dull at the present time.
because of the great demand for
money. He said further that in CON
with Mr.. Greer. the well
known bonding expert that the con-
census of his talk was that the bonds
should be submitted again to the peo-
pie, also that the water should be
condemned, before any other worl,
was done.
Attorney Wheeler then stated that
he must disagree with Mr.. Greer as
the bonds of the city of Grand juno
tion We're the same as those Mr..
Greer had approved for the town of
Fruita and that there was no differ
ence whatever in them.
Mr.. Wheeler said that If this coun-
Gil began condemnation proceedings
against the water of Hannah creek,
it would require considerably more
money than by endeavoring to Sc
cure 1t by purchase.
The question of the bond PROPOSE
tion was discussed at considerable
length AttOrnev CoIao vi.rgru bg,