The Portland daily press., 1872-03-12

March 81, 1871, $3,029,2OO
The amount of bonds author ,s ~
lied to be issued by the
City Council from time to
time during the present Hr HHr
financial year which will be
For payment Of land front of e--u -s -@
Market Hall, 1000
Drains and sewers, $4,000
Marginal Way Bridge. 5000
Land purchased enlarging =
Land purchased of B. DALEY e... .H..-
for gravel pit, - .e 800 tai -.a
Contingent expenses, 1880
Streets, sidewalks and bridges $4,000
City building, T - $500 q
support Of poor, 3,Ooo-s $4,000
ss,15s2oo
Less bonds maturing during
the year paid from the sink
ing fund for reduction of
the city debt to March 6th
1872, $4,000
s3,O2s2oo
From which deduct available
assets of the city applicable
by ordinance &C., to no 9TH
purpose than the pay
ment Of the funded debt ----.-~s
viz:
Light Co., 8 $4,000
Trust funds on which the
city pays the interest only, 1900
Amount Of sinking fund, say, 411,s7s 80
Notes receivable secured by
mortgage 1900
7143 shares Portland & Og-
densburg railroad stock, -- S52O,s79 80
81 q az e 1902 1922 ss
Deduct Municipal bonds protected by
mortgage of the Atlantic g. St. Law
renee Railroad Co., for payment of
which sinking fund has been estab-
lished by said company, $4,000
Leaving balance of municipal loan unse-
cured, $1,715 800 6S
SUMMARY OF CITY LIABILITIES.
Bonds issued in aid of Portland & Roch-
ester Railroad Co. secured by mortgage
of said road and sinking fund, 500, 900 90
Bonds issued to Building Loan Commits
sioners, secured by mortgages of real
estate, &c, $4,000 90
of the Atlantic & ST. Lawrence Rail
road and sinking fund, S7s7,OOO 90
$685., 900 90
above, 1,715,32o 6s
s4,os7, 1920 So
BY this statement it will be seen that the I'M
secured liabilities of the city are ST. u.s. 320,6S.
Last year the amount reported was 81, 75O, 600,
6S, making reduction Of 1874, $50, of that class
of debt.
The stock held by the city in the Portland
was paid the sum of $714, 300, is not placed in
the lists of assets. At present they are una
valuable, and have no determined value.
l have called the debt proper of the city ''un-
secured liabilities" simply to distinguish them
from those for which we have ample and UNI
questioned pledges. But this debt is really Sc
cured by the public property valued at over
million of dollars, the taxable estates and the
public faith.
MANUFACTURES.
While it becomes us to be cautious in the use
OF the city credit it equally is our duty, by all
proper and wise means to foster every enter
prise, whose tendency is to increase our popu-
lation and wealth, and utilize our resources,
And in this connection permit me to refer to
the movement set on foot under the auspices of
the Board of Manufactures, with the coopera-
ton of the city, as promising important results.
The Board have recently entered upon the wide
distribution of their circulars suitably illustrat-
ed with view of the city, which give forci-
BILE exhibit of our really remarkable advantages
for diversified industries. Several responsible
parties contemplating new or enlarged oper-
atoms, have thus been led to visit our
city and inspect its facilities and may in due
time be expected to locate among us. Proprie-
tors are placing in the hands of the Board such
information respecting their property as meets
the wants of persons in search of buildings,
apartments, or lots adapted to mechanical en-
Payments. Several citizens of means also have
sought the cooperation of the Board in placing
their money by the side of manufacturing eX-
! perience and skill The Board thus promises