New-York tribune., 1873-04-17
WASHINGTON FINANCES.

TIGATIoN-MR srARKwEATIER's REPORT FALSE
AND FRAUDULENT--THE BOARD BANKRUPT
70 the Edttor OF The Tribune.
SIR In your issue of the 9th instant notice
communication from Alexander Il. Shepherd Of the
Washington Board Of Public Works assuming 10 correct
What he STYLES the gross Interpretations Of your
Washington correspondent, and pretending TO give
true statement Of financial condition OF the Board Of
Public Works have carefully read the dispatches Of
your correspondent referred to by Mr. shepherd and
with the exception Of the that the Board has
within few days cancelled over s2Oo0oOo OF contracts,
OF which know nothing. am satisfied that those dis
patches fa short OF the truth concerning the financial
condition Of the District Government. IL your cor
respondent has erred, is In not putting the Boards
liabilities high enough Aud as / have the necessary
material at hand VIII proceed, briefly as possible
70 aDayze and refute his statements by his own Worus
aud figures and the official documents OF his friends
MI Shepherd denies that the Board has, within few
days cancelled S2OOc0OO OF contracts, ana then'
with his usual recklesness adds The Board OF PUB
lc Works has not Cancelled single contract nor does IL
propose doing So save where contractors have
tailed u comply with their engagements" have De
fore me copy of the Boards report Of which Mr.
Shepherd is the rcpued author, in it find that the
Board has Cancelled contracts tSee statement OF
tables between pages / and 80 of Board ReportI MI
Shepherd next cOntadcts your correspondent by say
ing: 1t not true that after receiving the $O0OOO
appropriated by Congress the Board Will be greatly in
debt" He then says "Ths is not correct, from the
fact that the money appropriated by Congress- payable
the LIST OF July not 20 quidate debts OF the
Board pay for the proportion OF work yet 10 be
done for Government OF the United States"
This would the Board had already incurred
obligations for these improvements but they the
ground in their annual report, and also in Mr. Stark
weather report to the House Of Representatives that
the contracts they have entered into the cost
complete all work undertaken by the Board and Of all
projected improvements" it cannot be regarded in this
he NJ 49,
after having made this bold statement you will discover,
il you follow him, that he proceeds TO contradict by
placing this very appropriation IN his statement Of assets
10 Hqmdate present indebtedness. This is the way he
makes the Boards assets foot up s925O OOo and their
available assets after paying S5C0OO 10 contractors,
sl.7Sl,OoO.
LIABILITIES AND ASSETS OF THE BOARD.
Mr.. Shepherd next charges your correspondent with
'a reckless disregard OF fact in his statement of the
Boards liabilities He says; "The facts first that
the gross amount OF assessments private property is
s2666OOC OF this amount 100000 have been issued,
leaving 100000 yet available He next says, "he
account then would stand as follows:
1st Balance OF assessments above. s. OC6OO0
I'd Bal Of appropriations due by District. $4,000
30. Amount due by u 5. covered by apprOpria
uons available July $4,000
Assets a23loOO
Due 10 contractors. 100000
Leaving available .sl73l,OOO
This is Mr Shepherds statement Of the financial con-
dion Of the Board Of Public Works II will be observed
that be here speaks OF the $4,000 appropriation as due
from the United States covered by appropriation avala
ble July - while former part his letter he
that it not for work doDe but TO pay for work yet
be done for the Government" Here is fat contra
dietion and Mr. Shepherd convicts himself of the very
ofense he charges upon your correspondent On the
first Of last December the Boards annual report
transmitted 10 Congress by the President In this report
its financial condition stated and certified to by
af tho ,ard dino
that statement, which was published in THE TRIBUNE
the 7th instant, they show a balance in their
favor Of $l62252 25, exclusive Of the million and a
quarter then claimed from the United States, which
paid in January. This amount, Sl2lO92O o. added TO
the previous balance s62252 25 shows, II their state
ments be believed, that their available assets in
January, after paying all Indebtedness Tor improve.
ments completed and in Of completion, would
have been s14O3173 II. Since then the Board has
ceived out OF the appropriations made by Congress in
March 81 2535 75 This, added 70 the previous amount
would make the. Boards present available assets
$269Os o. after paying all Indebtedness The amount
due contractors Included IN this statement The work
10 be done in front Of Government property is also
included as will be by referring to the Boards
annual report that they include In their liabilities the
of completing all work undertaken. Therefore the
amount Se30Oo, appropriated for futnre work around
Government property and payable after the 1s OF July
should not be excluded, stated by shepherd, but
should DC added 70 the above amount. This would
the Boards assets S36C73 II, instead Of O0O
stated By him. These figures not mine They are
Mr.. Shepherds. have merely compiled them. They
show difference of 1,s85173 H. Now, which statement
is correctl answer neither. They both several
millions from the truth. The question is suggested il
the Boards statement, submitted in their report
the President the 1st OF November correct, what
excuse they after Congress had in January appro
pra:ed all the Board claimed, TO before that
body again in March and ask for additional apprOpr
alton Of two and a half millions If their report
truthful, they surely dd not need the money. But 1t
was not truthful and the Board at that very time
bankrupt 10 the amount Of more than 100000.
Mr.. ROOsEvELTs ATTEMPTED EXPOSURE.
Mr. Shepherd, with air OF seeming confidence, puts
forth following: "NOw the only embarrassment suf
fered by the Board which is entirely solvent and pro-
poses arises from the fact that the
lnents made for improvements not available until
the improvements are completed. Under the law, this
source Of cannot be anticipated" The total
these assessments puts s2GG5OOO $4,000 Of which
he states have issued leaving S2OGGOOO yet avala
blc Let deduct this amount from the total OF the
Boards available assets, shown by its annual report
and the appropriation since made by Congress, and
there would stu be balance Of Sl55O173 H. of which
but $9lSNO would be available now, and the whole after
the first Of July. This proves that, according TO its
nual report, there should be at this time
cash balance in the treasury Of the Board,
after paying every dollar of its Indebtedness of SGl773 IL
the annual report OF the Board transmitted
10 Congress by the President, its accuracy promptly
disputed by the Hon r. B. Roosevelt your city,
ber OF the District Committee and well informed dis
tric affairs Mr Roosevelt charged that the Board had
sent false report the President and that Instead OF
their liabilities amounting to ONLY $7OcO0OO stated by
rbern the work un~ertkcn would amount 20OJ0OOO
on the am OF December he Oh'red the Following pre-
amhle and resolution which were adopted; 500. ,.
CHAPTER OF laws Of 1872 10 was enacted that the deDt