The Portland daily press., 1871-03-14

provided ior by sinking
For contingent exl enscs, II 500
For publlc buid ngs, 1000
For civ buIi"ing, 1000
For cemeteries and public
groudus, 500
kor street. sidewalks and
bridges. $4,000
For support of the poor, $500
For For wafer .xlenses, 900
Temporary loan of 1se9-7O 10000 7s4,5OO
s3,c565OO
Payments on the above have
teen mace as follows, viz:
City notes maturing dur
lug the year paid from the
sinking lund Tor leuuctiun
OF the city debt to Feb.
2Sth 1871, S25,3O0
Bonds due in 1877 paid by
exchange OF State OF Maine
bonds per ordnance. 1900 27.300
From which deduct available
assets OF The city ~ icaole
b, ordinan.e &c., 10 10
other lurpD-e Than the
payment of The city tunued
IeO viz. 100 shares Port
land G ,s fshttO, $1,000
Trust funds which the
CITY pay the interest OnIy 13.C00
Amvnnt o. i king uud, say 359, ,65O S8
Notes receivable secuted by
r.kage, 1900
7143 shal IS Portland & Os-
densourg railroad, 46S, $50 SO
Actual funded dett Of city, 1850 $40 12
Deduct bonds projected by
mortg ige OF the At. & ST.
L. r. X, Co., for paym mt
OF which sinking fund
has been established by
said company, say, 1853 900 90
Balance, ga ,54y II
Rochester r X. Co Sc
cured by m tgase OF said
road and sin King tund, 100000
Bohds is led to Building
Loan Commissioners, Sc
cured Oy mortgage oil real
estate &C., s95.O0O
Net liabilities OF Municipal
Loan, as above, 25so,5ao IL
4,l55,649 12
Paid Portan' & OgdensbuIg
II. II. a sessments during
year 1866. 1881 so
g 1sss-70, 19j4U50
:" 1S70-a1. 500,010 U0
7141 shares at sloo each, s7l4,3ouO 90
Tne unsecured debt of the city amounting
to $l,764,549 II would have been considera-
bly, reduced the past year but Tor the pay
ment Ot assessments OH the Portland and Oo-
densburg railroad stock. The means tot this
end have been raised fiom sales u $780,
OF State OF Maiue bonds e,lmaed the previ-
GUS year as assets and by the ,'ssae OF 2D7,0t0
of CITY bonds amounting - $4,000 in all.
This debt appears, aupi iaes 10 qu' 'a'ST'
Yet taking INTO accouy0 Tue reai estate anu
other PROPERTY OF ,ae city estimated at a
round million OF collars and the prospective
value of The railroad stock which IS not val
ued in the above;statement OF assets, che debt
may be considered as relatively light, espsc-
i9y when set off against our valuation o. So },
OoOO0O with our population and business
steadily Increasing 10
t1,ox ANpt1l al
ue of the Pouland, and o Idenshurg stock Is
not vet determinahle, but few considerations
bearing upon the matter may be )f interest to
our taxpaying citizens. The present actual
earnings OF the road with but 33 miles iu
operation show very encouraging margin OF
net Lrotit as may be seen from the last annn-
al report OF The directors. Recent inspection
of the books show a net profit OF the past two
months OF about $4,000 The Presumpscot
river. that great natural advantage possessed
by our city and SO long owe, looked is now be-
ing developed by the road and must soon hold
the same relation TO Portland that the Merr-
mack does t. Boston. The water power of
this river for its economy of use and service,
the Solidi!y OF lit banks and bed, aud its con-
stant, uniform flow throughout the year, is
perhaps unsui passed in this region OF valua
BILE wafer powers. Lake Sebago, the great
natural reservoir of waters flowing from hun
uIcu uiiiS, tuc IOOL vi WulCu tuIS IOdu SktTlS
for two miles, affords an inland navigation OF
thirty five miles in summer, and in winter a
sure harvest of ice, at a summit level OF 250
feet above our harbor and only sixteen miles
from the city. This road opens to US also the
SacO river with its water power and broad
valley filled yet with valuable timber. Aud
in penetratinf, as the road does, the old In
dian "Chattagee" region it opens up to our
city the richest agricultural portion Of Oxford
county, the trade OF which now first receives
the stimulating influences OF railroad Tor a
breadth OF 10 miles and in extent from Hiram
to Battle 1t is expected that the road will
be rnnnine for regular traffic to Fryeburg in
June and TO North Conway soon after.
THE STREETS.
Last year the expenditure upon our streets
was unusually large amounting to about $780,
600 against $7S,0O0 the year previous. The
reason in part of the excess l have already
suggested. No such outlay for the current
year will be necessary and l recommend that
all appropriations in this direction, as we'll as
in all others, be carefully scratinized. But
while We observe the closest economy in this
respect, in the employment of the public
funds placed 10 our charge, we are neverthe-
less to remember that the city is steadily ad.
vancine in wealth and population, and COM
meIcial importance and that we must keen
of web Of railroads whose demands for
street, and other facilities for travel and traf
| fic, Must be met at whatever cost. Access
must be afforded them around the entire cir.
Gle OF the city and TO every point OF our har-
bor And while upon this subject OF streets
| let me commend 10 your favorable considerl-
| ton the neglected condition of Washington
ST. This is one of our most travelled thor
| Oughfares and its location on the margin o
Back Cove may ultimately make it inviting
for valuable residences and places of business.
THE PUBLIC SCHOOLS.
You will learn by the repor: of the school
Committee that their Department is in excel
lent condition. But there is one great and
| increasing evil in connection with our schools.
| 1t is estimated that nearly 40 per cent. OF the
| children between the ages offive aud eighteen
| are nOn.stterdauts. How large proportion
| of these are ,ruants am unable 10 say; but
| the fact itself is alarming aud demands a lem.
| edy il one can be devised. commend the
| subject to your consideration.
| STATE INDUSTRIAL SCHOOL FOR GIRLS.
In my address last year called your atten.
| ton to the necessity of a State Indnstr;o
| School for Girls. During the last session n
the Legislature some 800 ladies or This cit,
petitloneu that body for affirmative action /,
that direction. and the City Council unani
mous'y instructed NE in that behalf to presen
the petition of the city to the same end.
not only with great pleasure performed tn,
duty assigned me, but personally appeared
before the committee ON Education who hac
the matter in charge and ureel, as best "a
able, the Importance of such all institution te
the welfare and morality Of the State. Tbt
Committee reported to the Legislature there.
after the following resolution whicn was
passed.
Resolved That commissioner be appointed
by the Governor and Council to devise pau u
for an Industrial School for Girls on the family