| Show m If W H m WM mm I 1 Galveston ston of Afflictions Vow Now faces y i I w WW x A w AA W f W W tk SerIes of Remarkable Misfortunes hut lIo luis I tle Texas City Cly WIh a U few eW men in Now OW York II Aether wh lher the thO city cIt of ot II t far t Wai oil bankrupt or with Ha IIA HaUm It v tj be LII be permitted to 10 tori Um jn light ii d shall with Its it rn rk ri lit t II can P S 8 1900 1000 r oat reat at of Septembers r mi fijI horror and Ind extent of ot which hUll has hasu rU 1 liy by tho 1118 u Jut tut ut Hi 01 first of ot n a series of ot o I have hae been visited 0 II city C It t TIer There has haa been PI 01 Inveighing against r have borne They gopI b ly 11 l the he ie p ir nobly oblY strong In llio faith will ili shine shinei LI 11 i M r thi III t will tabi thi sun Hun auk ak the th Ih i u thY this th mi illI ml to 10 I e tn who ho hold hohl thu the thur thua wh h I ir fl L Ih t h 1 ty a I r ur tar in Ih t have hao Insisted vry Y l 3 of ot Interest g jil ial M II In alII In hae has hll o the thu Ual Ia I J I L ami out that with OnU ono blotted out by one ut of utIe tb l j of Pt the th i It ity Uy rIt in III the tho Ie t of ot the tho tax taxI t i y y not cot n t I i propertY has haa ita bi n lost but mit tho tha thaI I Ii g to tn con n i has hns ha affected tha thu thaI I vt the H n 0 I N Na i a 01 oi ili Ir capital but ut It dO dont tk sk tho bondholders V does n k for tor u Il readjustment of ut tho Iho In tora rate xo to Unit that tho thu burdens burdon uti llio thu city will not bo ho no su print rr lt The city rity ply Illy puy the tho interest rate ratu a IL I rate made when the tho city was rich prosperous It seems to the people nf ot that the bondholder who lio 1111 money Invested In III the tho city Just OH nil the have hn should bo be 10 willing willingto to a II portion u or of the tho weight put upon tho the community by uy tim the great storm It Is IF tho of or the tho city cit that tIui the tho readjust tho the debt doht on OIL u II basin of or about three and u II quarter tier lieI tiercent ier cent cellI of Ot 6 G pur cent cOlli the thu rate raIl The rho bondholders seem eoin to bo be will willIng Ing IngA A 4 will wilt come corne from ton toll to Now Nol York within the tho thirty days Ihl H to confer conf r with Iti the tho bondholders committee If U an nil I agreement lt cannot bo ho reached nt at this will bl be face to neo with tho the bald blank wall wILli all of ot bankruptcy Clint diane let S H secretary of or tho the treasury lu In the cabinet nf of o Cleveland nt Is J I chairman of ot o t the tho bondholders betil held orb ers N W IV Harris Co have noted ai III agents nt of ot Halves Halveston ton and It Il was tills firm Orm that all at al I tin Ui bonds wie sold The Iho gross gIot municipal debt Je t of or toll In la only and hUll him been absorbent In the tho Kinking lund leaving OM net outstanding The rhe conces concession once Ion sion froni tho the bond hollIH there toro fore amounts to tu a n year eal In In Interest terest flos Pern best beet acquainted with and Its HH abilities that with the debt refunded on a three aind a quarter per cent basis baRis every do dot dolar tar lar of or will 1111 be bo met Inet promptly At Atthe Atthe t the tho aino time It Is li acknowledged re reluctantly 1 that persistence In the de demand mand for to cv I five IIvo per For cent will Involve tho the city In bankruptcy While is III i n a 1 beautiful city ww VI I IH i II HH 1 rw 1 S j 1 1 I to believe that Oat Gal X Action ollon will I not 1 or C JI Wo We havo oelY natural to vu f We le o had before the tho storm anti I cannot wo see eu why wh ve wu should tot not come cOllie Into Inlo our own To bo hu sure lIuro wo WI I great reul problems to lo 1 sole tint but lift without problems j would bo hu a II mule I Tribune H I I I H I H I delightful to live IIvo In with Ith n a climate like Ilk that of ot the Mediterranean Its Ils life Ufa practically lirac depends tI nd 8 upon U pen the tue shipping Slit hg Grain and OULI cotton form tha tue bulk of ot tilt tile exports Naturally 0 dives ton would bo ho bothe tile the greatest cotton colton Port pott of ur America and would rank ronk or fourth In Ingrain Ingrain grain Cotton distributes a I gleat deal of ot money through labor channels and the tho men hilOn Who IlO tov tho the baled In Inthe intile tile the holds huhl of ot ships nhip ate Ill among tile the best beAt workmen In the tIle world In III are Rr ar approximately throe three thousand cotton CI The terra term crewmen grows out Jul of ut the fIlet that In hI older to tle space In ships the tho cotton bales already n lIon I ore are Ar Into the smallest possible compass The Tho work Is I cry MTV hard Ilard and a it high order of at skill kiil My Hy screw screwIng tOg Ing In cotton the carrying capacity of or a ae 1 e 3 can bo be about thirty three and per ler cent above that by IW the tho most mo t advantageous storing without YI t bout machinery nor Following great grent storm many families left lon BO that with v VY V V the tho dead tho tue population last hiat summer was Willi reduced Those who Will 10 nie i re of or good heart nut lilt cup of ot was Wall nut not by b thu tho One by hy Otto one tho the props sup supports ports which naturally they thay lean bali on Oil toll full away awn UPON l It wits was the tho wheat crop of ot roxas In tW thu not them part ot of the thore Is grown a I Mediterranean No 2 wheat which Is Ii of tt superior and In ill great demand Usually a it largo large PUN por portion tion of ot the crop crol goes ton toll J mean ships hij menu bean lII on money With Willi tho wheat crop u II failure them thEe Wild was none HOn to export no flO need for ships on that ac account account acCoUnt count Then collie a n heavy hea blow Tim The corn 01 op of ot tile the west ost Was as blighted failure of ot wheat and failure of nf corn would have been borne complacently had hlll It tint riot h OIl that l to 10 the cotton crop of or tile the t Hut But the lie of the tue Ih crop Crill wn nut not enough rue Tho ocean trade of ot if the tho become 1 last full fali ull Ocean freight rates rales rat became BO fiCi choup that tillit It pay to siv cot cotton cotton ton toil Into Inlo the ships rile The bales haloM rolled lolled In ill and tho thu vessel soul aay All 11 this tIme the tho olty of or of Its it good mime hud hItti ben burn pay paying ta paylag lag ing regularly tile the Interest on fl 11 lt It This Tilis entailed and ami anI Lilt but It WItS was done In De Do December cember comber however there was no moro more nancy forthcoming With an nn empty treasury there was nothing to do but to announce to the bondholders bon holders that the tho thoD December D r Interest could not be paid J Iy effort had been beell made to 10 ti II tho the bondholders and to obtain a 1 helping hand from them hut but the tiit bond Idels could see sec only on oni OJ lI fad tatt that they were entitled to Interest on their V V V V V H H I hi 1 hO or T 1101 SUn Repudiation Is III far till from train tim the i 1 desire or of ot the til I of or but hut sheer r Inability to pay IS growing out of at an all act of ut IC 1 God la is hardly halll to their discredit lt I H n loner of ot In Ill InI I Charge of Finances 1 I H HH iH bonds anti and It was tho the duty of or I to pay lIlly It II Negotiations N by mull mall falling a com COIn committee l of ot lIzen WItS was with Scaly at itt It Its 1111 lt bend to coma CollIe to New York Vork and lay Iny the tile whole CURe he be before fore fIrs tIle Ihu bondholders frs committee That wits was to tu have readIed hero here n 1 17 On Oil tile tho III road rond to lu New Nell York Mr AIr Scaly Sealy Seu was Willi IlM It tt I icken and died t The jho committee returned to Gall with bis body bolly Meanwhile len Gen Henry Honry M fl U 17 US US S A formerly chief of ot the tho I corps Alfred Noble of ot If Chicago Who vim built the locks and dams damn of If tile the th Sault file Marie MaJ C of ot GalVeston and later of ot the tho United States corps COliO Oil on the tho Marlon Isthmian canni louto me ElIC studying the tho problem of or pro Protecting from any uny storm tho the future may bring IrIng forth FOH FOlt SALVATION Gen Gell built hullt tile the Jetties nt at Gal lal Galveston veston IR Is the most emi eminent nent marine engineer In ill tho tile world to 10 I Ony men suggest lIt JIll Oal S C stoll will viii do clo no 10 matter how hos great tile the Whether It bo hI l u IL I wu MU wall WhIt WhIttie tie Io raising of till the th or OL both hoth tI I In II are 1 re i I bled They y Ii that tillit with 1 Ih the I tie city allies will bf ht restored d confidence will WillI I ant the future will bring to toJu Ju veston the tile and ami l It deMeros How Hol well ell spirit Is IN held IH is shown by y the of Clarence Clart editor of the Tribune and 1 I IIi 11 Ii Kempner one OM of nf tile the put In III charge of tile the city by b Governor Buyers Mr JIll says ays Tits The bondholders been IlIum termed formed and are Ir obtuse Wo We hava defaulted rl In Iti December Interest us IN usI INI I r foretold rort a I year ear ago not bolt by hy design Iut out of Inability to tn pay pa If It the tile bondholder had accepted our r pro I a 1 year ago UrO till the city would now no nohe be he solvent As AliI It Is Ill they the tiie must hoOch learn by falling coupon that their r has hall been beell greatly Impair Then they will see Mft tho the truth It U IK Is not lint u It fi ale e of 01 It Is municipal bankruptcy caused Ruled by hy tho the annihilation of of ot out our property values ON OF ot I H if Kempner said ILl Since tile the great disaster of or Septem September ber 8 1900 1000 up tIll to tu December 1 I 1901 the city paid every evory dollar of ut It Interest on her bended debt whirl accrued This was waN done by hy encroaching IlIg on ID HOUR ml of ot the tim sinking Moie Morl than thana a n year ago N W Han harris Is Co Cof CoI CoIt It I f Now York quoted former Judge Sid Sidro roy rey ro Dillon as ns saying that thu the attitude of ot constituted one ono of ot tho the notable evidences of ot gout good faith and nd municipal Integrity that hud lIver ever been bren brought to tu his II II Ill Tin rile city now nott finds that tillit It cnn can no longer lon er pay Interest at ut tile HIP present nUe S 1 IA Jo c Her ier Industrial and Und f financial late Fole in tile the f Ir lands Hands of a o few Men Menon III I o l tot ot fN li on 1 its III t bonded deut debt It Is III not r the till bondholders to tile the principal 11 of t their thull debt one dollar It Js is not t the ile I 5 of ot UH u tN bonded deli delit t to lose lotu any ln pOllion of ot the tile capital they have hu Invested but It does dOOR ask that on Ott ao ne count of ot the shook to growing I I out of ot tilt tho destruction e of ot property ami amilos I los IIII of ot of ot 1000 1900 m the tile bondholder do o consent to A Artful rend I of or for tOI u II Irlo P of ot years under a It of ut Interest ments which will yield a II return of ot about three and a 1 quarter vr cent t per Ir r annum u Instead of ot live per 1101 cent as RH It now stands Theio Is iN no desire threat of re hO roo limitation tile the an n g a unit faVorS paying jivery wery tilt It possibly I can call The rIll of ot com composed posed of live 1111 men ami attorneys IIII Into Inlo who hoM hands tho tile government of ot the tile city linn been licen by tite tho governor of ur tile the state under u II Oct net of ot o tile tho legislature claim that they have offered the tile nil that without Wi ii lion flail will possibly yleM nil 1111 that the tho cnn call obtain by hy a n judgment of or court tendered In ill their favor And Ami now It II tests rests with a 1 tow few men man In I Mew Nev York city cilY to say whether Galvos ton toll bowed with tile thu weight of or many f 1 Ii have added to her Ier herI misfortunes 1 I union ull n th blot of ot tho the t J York 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