Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1873-08-25
s43.750,00, And the several pay
meuts would be as follows:

1874 April Is.
1st Installm III ent would be S4S. .750. 90
Interest On S292 500 from 1st
July, 9R mos. ats per ct Is, $500
Total OF lst payment at this date .67,275. 90
1875 April is,
2d Installment ofprincipal
would be S4S 5000
Interest on s243. 75O being bal
ance of principal for / yr 19,500.00 M
Total OF I'd payment At this date 65,250.0O
1876, April Is,
Sd lnstalment Of principal
would be S4S.750.00
Interest on s195 900 being bal
ance ofprlncipal for yr. i5,600.00
Total of Sd payment at this date 81, 5000
1877, April Is,
4th Installment of principal
would be :S4S, ,75J. 90
Interest on $14S.25O being bal
ance of principal for Tyr. 11,700o0
Total a OF 4th payment at this date 6O.45O0o
5th Installment Of principal
would be $4S, 5000
Interest on S97 500 being bal
ance of principal for yr. 7,S0000
Total Of 9TH payment at this date 6,550.00
1879, April Is,
9th and last installment of
principal WOnld be SA9;750.00
Interest on $4S,75 being bal
ance Ofprncipal for yr. 100000
Total OF 9th and last payment
at this date 81, ,650.o 90
Total amount of6 annual payments is $3.50, 90
which IS fraci ion over S2per cent. upon $780,
The difference between paying Z per
cent. and per cent. on the Dodge
judgments would not materially vary
this per centage-probably not more
that J Of one per cent while it would
not at all affect the principle as appli-
cable to all the other judgments, which
shall be compromised at 65 cents with
six annual installments bearing 8 per
cent interest.
1t has been said of this settlement,
than it was better than fifty cents on
the dollar; and the NATIONAL DEM
oCRAT Of June 10Th, in an Editorial
says: "Reckoning money with ten
per cent, this settlement is. far better
than fifty cents on the dollar, cash."
Let us test this by a few figures
IF the county had made1 loan of
1925 600 aud paid off $3.50 600 at so
cents on the dollar, and had agreed to
pay interest at the rate of Is per cent.
per annum, payable at the same time
and in the same amounts, that the
several installments are pabable by the
proposed compromise, the county would
have made over 81 400 by the operation.
The results would have been as follows:
1874, April 18th.
Loan payable at 19 per cent interest $2a5, 900 90
Int. ON 225,OO0 for 91a months at Is
per cent, aa,O62.5O
Total principal and interest due this
day s57,O62 so
Deduct amount of payment due this
day by compromise 67,275.00
Balance due this day on loan 1S9, 1877 so
1875, April 10Th.
Interest on $S9, $3.50 for one year
at Is pei, cent per aunum a4.1Gt75
Total principal and interest OF loan
due this day 923, 49a5
Deduct amount OF I'd payment due
this day by compromise GS,25oOU
Balance due this day ON loan 155,6y925
1876. Apri! 18th.
Interest on $l55 699.a5 for 1pear at
Is per cent. 28,oa5.86
Total principal and interest Of loan
due this day 1S3,7a511
Deduct amount of Sd payment due
this day by compromise 6i,35000
Balance due this day Oh loan 1885 II
1871 April 10Th.
Interest on l9375.11 for year at
Is per cent. q. .4S7, so
Total principal and interest of loan
due this day 14o.s6a SO
Deduct amount of 4th payment due
this day by complomlse 6045O. 90
Balance due this DAY loan 81, 4l2.G3
1878, April 18TH
Interest ON $S0,412.63 for year at
1S per cent H. 44.2
Total principal and interest of loan
due this day "a, ,SS6. 80
Deduct amount Of 5th payment due
this day by compromise Sc, $4,000
Balance due this day on loan 3S, ,336. 30
1879, April 10th.
Interest on s3S 1850 year at IS
per cent. 6,9OO.64
45.237.54
Surplus saved out of last payment,
over the balance due this
date for principal aud inter-
est Of loan y7,41a4e
Amount of 9Th payment due this day
by compromise e., ,65O0O
It may be said that it would be
impossible to raise $225,O0O. This
may be true or it may mott do not
profess to be banker or fnancier, [
only profess to be a lawyer. One pro-
fession is as much as [ can manage.
But 1 know this proposition Is arith
metically true; that if the county was
to issue $281.250 Of bonds payable in
one to six years or of debentures
receivable in payment of taxes, and
bearing interest at eight per cent. per
anuum, and was to sell them to the
tax payers of this county at eighty
cents on the dollar, the amount real
lied, would be $225,000, and know
that this amount of bonds or debeutures
would be $11250 less than the amount
of $2925O0, which is the amount of
the compromise, counting it at sixty
five per cent. on s450,OOO.
1t may be that the taxpayers would
not buy these bonds or debentures, but
if they are anxious to levy tax large
enough to pay off the whole debt at
once at fifty per cent, and are able to
pay such a tax, [ think they would
take them readily, when by getting
eight per cent. on the face Of the
obligation, they would get ten per
cent on the money advanced, and
when paid, would get one dollar for
every eighty cents paid out.
But wish to submit another illus
tration in figures to show how much
these creditors receive, reckoning
money worth ten per cent. per annum.
Statement of amount of principal
and interest which creditors would
receive, computing interest at ten per
cent per annun on each payment
from the time of each payment respec,
lively up to April Is, 1879, both at
simple interest and at compound
interest,