The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1913-12-28

That the case now pending in the
court of record against Commissioner
Frank r. Pou, who is charged with
eonspiring to falsify the registration
books previous to his election. does not
appear to involve the validity of the
issuance of $500, 900 worth of municipal
dock and belt line railroad bonds by
the city, is the preliminary opinion of
Dillon. Thomson & Clay, bond experts
of New York, in letter received by
City Clerk G. W. Eggart yesterday. AL
though this agitation. say the attor-
neys, does not appear to involve the
validity of the bonds in the slightest
degree. vet its existence may have q
prejudical effect upon the price which
the city may be able to realize from its
obligations.
The New York attorneys call the
commissioners particular attention to
under this opinion Is conditioned upon
the bonds and eou7oz1S beanS 81 efutea.
W tsas q ~ s.teE
teriay afternoon that after the hoIiz'
days the commissioners would have the
bonds engraved and placed on the
market as soon as possible.
The case against Commissioner Pou
will be called for trial in the court of
record early in January.
The following letters we're received
from the bond experts yesterday:
ID l n OLERH-
New York, Dec. "a, 1918.
&c W. Eggart, Esq, City Clerk, Pen
sacoia, Fla
Dear Sirwe beg to advise you
that we have received from the clerk
of the supreme court of Florida copy
OF the opinion in the case of T. r. Pou
In error, vs. "A. G. Ellis, as sheriff of
Escambia county, defendant Upon
consideration OF the various matters
we can see no reason for Withholding
the Pesnacola, Fla, dock and terminal
bonds Of 100000, and we have &C
cordingly prepared the same and send
it to you herewith. Please give par
ticular attention to the fact that the
validity of the bonds under this opinion
is conditioned upon the bonds and
coupons being executed by the officers
who are in Office at the date OF the de-
livery Of the bonds to the purchasers.
under proper proceedings for the sale
thereof.
.sOf course, it is a matter for the
careful consideration OF the city Off
Gals whether it is desirable in the in
terests of the city to offer these bonds
while the present agitation, however
unfounded, may be continued Al
though this agitation does not appear
to involve the validity of the bonds in
the slightest degree, yet its existence
may have a prejudicaI effect upon the
price which the city may be able to
realize from its obligations.
with the compliments OF the sea-
son. we remain.
VERY truly yours,
DILLON, THOMSON & CLAY"
LETTER TO THE MAYOR.
New York, December p, 1918.
Hon. AdoIph GTeenhut, Mayor, Pen
sacola, Florida
pear Sir-At the request of the city
Of Pensacola. Fla, We have examined
into the validity of an authorized issue
Of 100000 dock and belt railroad i'm
provement bonds Of said city, said
bonds being of the denomination of
81 900 each, numbered from 1 to 400
both inclusive, dated October 1. 1913,
payable October I. 1913, hearing inter
est at the rate of 1-2 per centIITn per
annunn. payable semi annually April
and October 1; said bonds reciting that
they are issued under and in full COM
p1iance with the constitution and laws
Of the state Of Florida. and ordinances
of said city. including among others an
act of the legislature of the state of
Florida. eititled: An act to IegaIize
and validate the ordinance OF the city
Of Pensacola, passed November p,
1872, approved November %, 1912, enti-
tied An ordinance TO provide for the
issuance Of bonds OF the city of Pen
sacola, Fla, under and by virtue of an
act of the legislature of the state OF
Florida, entitled an act to authorize
the city OF Pensacola to issue negotia-
Die bonds for municipal purposes and
provide for the payment thereof, ap-
proved My IL. 1905 and the election
held pursuant thereto on the Goth day
OF Decernher, 1912. ana all proceedings
in connection Herewith, to authorize
the issuance OF bonds pursuant there
20 and the levy of a tax for the pay
ment of said bonds" approved Nav %,
1913, and ordinances and proceedings
Of said city duly had and adopted in
accordance with the constitution and
statutes OF said state and charter of
fr,ont.n,.eea On p -