Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-01-17
LOAN Commission
RECEIVES REPLY
FROM MARION
Slate Treasurer Would Place
Burden fol- Long SQuabbIe
Over Investment of School
Fund on That Body.

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p's''h ~ NY COMMUNICATION 81 inc
s',nr u'S ptopoa'l'S " gov aS " 'onl
''''H'""' i'i 9bui "pp'"Nu' 'e''a'"
F'tu'i ''eR' iii "'''n 'ne Porlhaheh'
s'''"ol una was pr"poseu pS me 10
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i"P'silS lneIe'o' aehlfe to state
Vl't NY reason III proposing an III
=, .Va'H''ni "a 'hls luun ~ we way "a
eHi's III p'nNs, ana again SUBMIT
uHb 'liH pfopoailloh 10 YOU WIS pe-
v"ua' oi tne illl lllHl u was my uIl-
ueiHtAn ing lha' you ald not uell-
nl'eiS uisappioNe such an lhVessnieh '
] your resolution ADOPTED at the meet
lnS "H 'n' llis' ~ july l9l'i was Z"
'ne ei.e'' ,n"' ol' Oh inc piuS re-
/, celNfn from we various halN's LOT ue-
p"sI'H 81 lle permanent schooi luhd
) pe 'eJee"u LOT 'ne purpose OF invest
ing saia iuhps III me state hlkhWaN
) n'nus, ana 'heIealter' lhe supreme
; .'ull naNlhs ueeloel thA' YOU ma nor
) naNe lhe power l." alie'1 the lnVes'-
; l',it 90 Al'e' l"ileH put hleteN all
'"NisolF power OF power Oh Veto !
M"s ~ tne 'plpl"h lhal Nnu hau hoi
N'StlNeh' pS way el aeposlt 'h ihe
h'ilhA' Auu Tor l'ls reason summit
yea 'ue pVhh S''uil'''s
'ou h'N'f 'h your ''lF we VIII
NC p'epn'eV =" receive any lullhH
pfep"Nlu'h Mhieh you 'l( nave ~
l''es''Hf 'e !" INC Investment OF TINS
l"Hu a9 WI p1"t hlne "eloeN 'NlloI-
row moinlni' desire TO direct your
"llentinh 10 inc ia'l lnal u ~ I'M
:. poss'nle Withln iiml''d Spa,e oil 'lm'
70 gunner 'obs'neF SECURITIES OF inc
Known M'l'n "' 'l'' ""H'a "'lch !
'''s'''t'" T." you i"l your approval
~ WIS az" is' my "esl'e " prea'hs
to you LOT your approval oni'
the hlEnest class ol SECURITIES
paying 'he hlHnost i'te To 'le school
l"iiu' hau h"pen th"t j presenter
lo you Huth class ol securities ms
Noulu meet Your approval uphesitat-
insiy. However, IN view OF what ono
nemDef OF your BOARD lold me ON
Monday the iiitn day OF January,
IVA al the state capitol VIZ, that *
Was the purpose 9l your hnara 20 dis
approve every lass OF security Which
would be presented by the state treas
uref without regard 10 lheir SAFETY or
the rate el interest on income thoN
would earn Tor the current school
iUhu uhlll the state treasurer oS ln'a
course "l elimination. WoNlu re com
Peiled 10 summit To inc BOARD
the state highway bonus ana
constrained now 10 INFORM You
thW as the httcr bonds Dear
only per cent interest ana
only % was md Tor them Wheh Of
ieted some Time ago ~ the open mar
net ana us o'her' be''er AN" more se.
cure investments expressly "uth"ilNed
ana approved by the constitution ana
hearing hish'r rae OF interest are
aNa''anl' some OF winch nave already
been proposed by me Ter your ap.
pfoN'+ ln my Judsmen' as trustee oil
lnese iunoS the s'"'e n'shNaN hohus
Nrt an improper inNes'mehl l"r 1hem
anu J must r'sPeetiuiiN ,llhe 'o "p-
prove 'heae h'has OF SUNNI lpeh
TO Nou Tor thnt purpose
nave reached 'h's CONCLUSION pe-
cause heile'e II was 'he purpose of
the ieaefaI statute granting ING
seh"ot luhas 20 MAKE me " trustee Oh
lhem' charEea WIN the sacred au'l