The daily tribune., 1909-03-31
We, OURSELVES, ADVANCED
PRICES ON CITY WARRANTS

know why it was that IL this pape'
Thought the warrants issred on th'
general fund of the city illegal thu
editor of this paper should have In
vested in them in recent years.
That question is plain to answer
AT the time we bought the warrants
and as far as we know, they were il
legal but after buying quite quan
tity of them, we made an investiga
tion and found that the fund ~al
$50 900 overdrawn and still getting
deepsr In the hole, and therefore
we disposed of them, thinking they
we're not the safest Kind of an invest
meut. IS
But while asking this question
Mr.. Wilson did not cay that 1t was
the editor Of this. paper. aud no ope
else, who advanced the price of these
same warrants from ninety cents on
the dollar to ninety five cents, the
present price. At the time the head
of this paper ent cred the market tile
price was ninety cents on the dollar,
or discount of ten per cent. There
were other buyers in the field, and
in order to get quick Investment,
the editor set "a price of ninety two
cents. After month or two this
price was met by the other buyers,
and The Tribune's editor then ad-
vnnced them to ninety -four aud then
to ninety-five cents. And we also
brought the price Of water warrants,
tlien being issued, from ninety. two
cents to ninety eight cents, at which
price they were still selling until
there was no more issued. And by
doing this we saved the city employees
several hundred dollars.
Aud Mr. Wilson, being q city bl-
derman, did not tell you that several
thousand dollars worth were rold by
city employees at his store for eighty
cents on the dollar. Since it Is IL.
legal for city employe to buy city
we are not accusing Mr..
Wilson OF doing this. but we have
heard that tho warrants were sold
at his store; who bought them we do
not know, and neither do we know
who they we're bought for. But we
have heard, and it was common talk
at the time. that about SEQ. 600 were
sold in this manner, and at eighty
cents on the dollar. or "a discount of
twenty per cent, loss of just that
much to the employees of the city.
We are simply telling you things
that Mr.. Wilson overlooked to state.
And now as to the matter of city
printing. Two years ago the offices
Of the city decided that a municipal.
ity OF this size should not receive it's
printed stationery for less price
than that charged the small merchant.
So whom the city called for bids
for its yearly supply of stationery
the offices furnished the same price,
as was charged the mer-
'hauts. The publishers thought 1t
only fair for the city to pay the price
the merchant did. and SO refused to
longer discriminate against the mer.
,hant In such n manner.
The result was the city sent out OF |
town for prices. and we understood
At the time that 1t was the councils
Intentions to plaoo the printing out
'f town for execution. OF course the |
printing offices made roar about
This. as Mr.. Wilson stated. and the
printing offices won the fight, pres.
sure having been brought to bear,
We have understood by the merchants
who protested against the work going
out OF town Tho merchants saw the
wisdom Of charging tho city the
same price M is charged to every body
else, and many Of them "soen" the
,ity aldermen about Ut And the
work was placed with Tribune.
Now ms to the prioo OF legal mat
Ter. Mr. Wilson admits In his article.
that tho law provides n price OF
Bighty.four cents for the first issue
apI fnrtx ntaht ,..t. 49,