Clarksville chronicle. (Clarksville, Tenn.) 186?-1872, 1869-01-29
TERMS OF SUBSCRIPTION.
TWO DOLLARS A YEAR, IN ADVANCE
$3.50 II Paid within Six Months.
800 at the End of the Year.
j o IL w O R I<
Neatly and Promptly Executed.

bridge to be held subject to the pay
ment OF said bonds and interest. In
1858 this bridge being no longer safe,
q Howe Truss bridge was, by vote of
the citizens, deterfnlned upon and
bonds of tho city, hayhig nom one to
ten years to run (from July 1st; 1859,
to July lst, is69, amounting; to tho
sum of 100000 dollars, were issued
tolls on said bridge to be held subject
topaymento of said bonds and interest.
From a statement furnished me by
the City Treasurer, the balance due
on these two classes of bridge bonds,
on the 1st Of February, 1se5, amounts
to say s27, ,l02 3S. But it is necessary
here to state that there is now In tho
hands Of the Clerk and Master of the
Chancery Court $1,000 subject to a
decree of said court as TO- which class
Of bond-holders shall first be paid,
and the additional sum or s2,s25 90,
now in the city treasury, making In
all the sum Of 81, 425 90, which deduct
ed FROM s27, 7,1O2 3s, now due on our
bridge debt, would leave the actual
Indebtedness on bridges sl9,677 o.
These bridge bonds are all past duo,
andI understand that a Judgment has
been obtained on the greater portion
Of them, and 1t is quite probable that
other bridge bondholders will wish TO
be placed in the same condition, and
1t Is advisable that some arrangement
should be made between the city and
holders Of these bonds satisfactory to
each party, and thereby prevent fur
ther cost in the case. And when 1t is
recollected that The credit system was
in vogue when the bridge was erected
and for several years thereafter, and
that In consequence thereof thou
sands Of dollars were lost to the city
in the way of tolls T; and when 1t is
further remembered that a four years
war has ihtervened, when no tolls
were collected and all sources Of rev.
enue to the city were cut off, and that
all this time these bonds were matur.
ing and the bridge, from the natural
wear and tear Incident to this state
Of things, requiring q very heavy
outlay, 1t would seem reasonable that
some mutual and satisfactory arrange.
ments could be made between the m
terested parties. I Will further state,
In this connection, that under tho
present cash system much better
exhibit as to the income from bridge
tolls can now be made. The gross in
come from tolls for the two Years
commencing on thels of November,
1896, ana ending OH the 30th day Of
November, 1868 amounts to the sum
Of Sc, 1885 92, or the average per year
of s4,167 96. Deductipg nil EXPENSE
as follows; bridge keepers salary,
$3.50; insurance, S2l0; taxes, U. s.
Government, $ll5; taxes, state and
county, S170 65; repairs, 5000; I'M all,
S1,l75 05-ieaves s2,992 81 to pay ON
the principal and interest of these
bonds. The interest Being about $3.50,
would leave S2,042 81 to pay annually
in liquideting the bonds; and cofise.
quently in few years both principal
and interest would be paid. Thus you
have statement DIS 10 the present H.
abilities Of the city SO fhr as bridges
are concerned.
In 1859 City bonds to tile amount Of
sos, 900, having from one to ten years
tB run and bearing 6per cent interest,
were issncd for the purpose Of improv-
ing streets. Our present liabilities on
these street bonds, as shown by
statement Of the City Treasurer, arc
as follows:
street bonds now wdue...,.....,.....,.,, s7,875 n
Interest now due on same. a,nA,. 400 90
Amount funded, due Ia lSS7.....-.". 0,ss0 25
....... si5,ioi 90
Thus 1t will be seen that our debt of
S25, 900, created In 1859 for grading
and Matchmaking our streets, and
probably large potion Of this i'm
debtedncss created in advance Of tho
real necessities Of the city, has been
reduced in the last four years some
$4,000, but in the meantime requir-
ing, and will for some time require
quite tax on citizens to meet the
present and future liabilitics-so far AS
past indebtedness on streets IL con-
cerned, to say nothing as to the pres
ent urgent demand for n considerable
outlay whereby our streets may be
made to meet the requirements Of our
extended city limits, and see no
way by which our streets shall be i'm
proved as they should be, but by tax
for that purpose--as our Income from
all sources now barely meets our In
tcrest account and other necessary cx-
pcnses under the most rigid economy.
In 1855 bonds Of tho city, having
thirty years 10 run, bearing 8 per cent.
iutercst--or more correctly, bonds TO
the amount of $4,000, maturing In
1855, and n like amount maturing In
1885, and $4,000 maturing in 1887,
in all 100000, with interest at 0 per
cent. payable semi-annuaily-wero
issued for railroad purposes. Our
present liabilities on these bonds, as
perstatemcnt OF City Treasurer, shows
rs follows: HH
Railroad bonds duo IN lss-'6'5 500 600
Inf due mi 10 Feb. Isl, 1863 ...,........... OlD
tf'..,.a'-t l.s,t n -, a., .ay ,M