National Republican., 1874-05-09

as per statemept OF the
auditor, 10 February
Estimsted cd liability for sal. '''''' q
aries OF officers, EN-.
ployces, support OF
schools, police, fire de-
Partment, payment Of
Interest and sinking
fund on bonds, and
contingent expenses .-
for the year ending ' .
June 3d. 1874 $4,000 90
Now, do those sums, or the amount due by
the Old corporations, aggregate S11 ,225, ,910 .2Sf
Do understand you that that is the entire
amount of the Indebtedness A. The bonded
Indebtedness, with the old indebtedness of S4,-
$50 81, is little less in the aggregate than
SO, O,OO0, 900. This indebtedness Of 81 ,87,-
67032, which is to sccrue-on page 25--part of
It is due, and part of it to accrue; and up to
June 80, 1874, is, under the law levying the
tax, payable out of tho funds derived from
taxes, and is not treated as debt, the current
revenues when collected being sufficient to meet
that expenditure.
Q. Do you estimate that this s11, ,225 ,910. 90
cover all the liabilities of all the old govern
ments and the present government up to the
Both OF June, 1912 A. Yes, sir.
By the Chairman: Q. And the Board of Pub
lie Worksi A. No, sir: not the Board Of Pub
Q. Excluding the Board of Public Works :
A. Yes, sir.
Q. thought you said that the debts S.
527 $50 included the bonds that had been is
sued on account of the Board of Public Works'
A. They do.
Q. They include 81, ,OOO, 900 sewer bondsi A..
No, sir; those are not bonds. Those are sewer
certificates, based upon assessment certificates.
They are not debt Of the District.
@. This eleven and q quarter million in
cluded all the indebtedness excep! indebtedness
incurred by the Board of Public Works; is that
itl A. Yes, sir.
Q. Now please state how much is the in
debtedness incurred by the Board of Public
Works; that Is what have not been able to
find. A. Ifyou will turn to page 463, you will
ascertain that.
O. find there liabilities, 81 SIS, ,95S 10; that
| is to be added then to this eleven million? A.
No, sir; you are to take the assets from that.
Q. am getting at the total liabilities. That
makes an aggregate of SIS, ,778 ,S69 80; now, In
that aggregate are tho two millions of sewer
certificates included, or are they to be sddedi
A. There has only been about million and
half of those issued.
Q. Whatever amount has been issued, are
they In this sum of fifteen million! A. No,
sir; they are not in that sum.
@. Please give us the amount Of the out
standing sewer certificates. A. You can put it
down at a million and half; cannot give it
to you exactly, because they are fiuctuating all
the time; they are paid In every day on account
of taxes. Oh, excuse me q moment, about q
million Of dollars will cover 1t.
Q. A million Of dollars will cover the out
standing sewer certificates A.. The outstand-
ing sewer certificates; yes, sir.
A. That, then, leaves million sewer certif-
Gates still in the possession of the government
A. Well, there have been paid in over $500, 900
on account of sewer taxes, between $780, 900
nd &9Al ha ar1 haa
St5O,0OO Of them hypothetical to borrow
money on.
@. Then that is just what was going to
ask you, whether any of the million that the
board has not sold or disposed of, or that the
government has received In payment of taxes
whether any portion of that had been hypothe-
Gated. You say that about $3.50, 900 have been
hypothecatedl A. Four hundred aud ffty
Thousand dollars have been hypothecated. and
between S5OO, 900 and 100000 collected in.
That leaves about q million in round numbers
out standing.
Q. Where are these st5O,0OO hypothecatedl
A. In New York, with Morton, Bliss & Co.
@. To secure loan payable ewhenl A. Pay
able on demand. You will find that in out
standing bills payable; the last item in the
liabilities clause.
Q. OF the Board of Public Works7 A. Yes,
sir.
@. Five hundred and five thousand, two
hundred and twenty y-eight dollars and ten
cents. Did ask you when that Indebtedness
is payablea A. 1t is payable on demand, bear
ing per cent. interest
Q. Does that include all work that has been
done by contractors and is not yet paid fora A.
Everything.
BY Mr.. Stewart: Q. Up to what date'. A.
Up to the date of this report; there has been
little done since.
Q. What is the amount that you put down
in your answer that will be required to COM
plete the contracts that have been. letl A: In
round numbers about million AMI half dol
lars.
By the Chairman: Q. All the contractsi A.
Yes, sir.
o. That does not include the sewers, A.
Yes, sir; 1t includes everything.
By Mr.. Thurman: Q. These assets and secur-
ities on hand; what are they-sewer boudsi
A. Those are the sewer bonds, and lot of
other bonds and certificates. .-- ,.. ...
Q. What Is the meaning of this, an asset:
"Balance due on account of general sewerage
from District of Columbian A. The sewer
law levied tax of twenty three hundred and
odd thousand dollars, and only appropr lated
50, ,100, 900, leaving q balance due, assessed and
taxed, but not appropriated, to be appropriated.
suppose It was an oversight. 5..
Q. OF that amount, s197 ,OO0l A. Yes, sir.
@. Assessments yet to be realized, as per
statement Of auditor, s2,4i6, $50. A. If you
will turn to the next (third) page, Statement
of Auditor J. q. Lay you will find his esti-
mates Of the amount to be yet received on ac-
count of assessments.
@. Is that for sewerage and also for street
improvements A. No, sir; street improve
ments alone.
O. Street improvements slonei A. Yes, sir.
Q. Did you add amount due from the Dis
trict of Columbia for cleaning and repairs OF
streets, pumps, market houses, &C., $3.50, ,2QS, >
60i A. That Is advances made by the board
for cleaning streets and repairing pumps and
market houses, lamps, and things Of that kind,
to be reimbursed by the District Of Columbia.
Q. That was an amount advanced BY the
Board of Public Worksi A. Yes, sir.
Q. Then all these sums, each 60 TO make up
this aggregate of assets of 1915, ,2s9 so, on
page 463, with the exception Of the last item,
which is "amount Of property on hand, as per
report Of superintendent of property, Sis,
| $50, 49," all those items, with that exception,
consist Of taxes Or assessments that are TO be
paid BY the people, .hs tss paSersi A. By the
property owners yes, SIR:
BY MI, Hubbell: Q. Be kind enough to ex.
beverage from the District Of Columbia; do
not understand that. A. The law which levied
that tax, levied tax. of about two million
| three hundred and ninety odd thousand dollars,
but only appropriated 81, 100, 900 of Il, leaving
s197, 900 taxed and assessed but not appro
briatsd. Il wis en- oversight In the Law.
BY Mr.. Wilson: Q.Itis not an asset then
| until It Is appropriated "A. Well, but the tai
| is collected for sewerage purposes. me
| Q. Well, simply want TO get at the fact
A. It requires the action Of the Legislature te
| make an available as5et.
By Mr.. Thurman: Q. In Mr.. Lays state
ment, page 464, 6e puts down the total amount
/ of Expenditures on account Of Improvements
I'll, $50, ,Sso.s5. he thep says, "ope third ss-
.sS,sbIs p. os shss sIlSsR G9s tAIya F s asses
By Ne Stewart. Q. That does not include
| sewerage Inpro1smspti A. No, sir; that Is
about the Amount that y assessable. s-F 2
By Mf: Thurman: O.. Without including
| seweragei 4. WAbopt Including sewerage.
O. Arc not those e5,2fT ,5s1 40 now duel
The time Is extended, 10 It, noti A. Yes, sir;
| you Will see there, "deduDt improvement GER
tihcatesn At the last session Of the Legisla-
ture they authorized the anticipation of ~, 900
600 of the assessment By what Is called the
greeuback certificates, predieated upon assess,
/ fnent certificates as collateral, the assessmeni
certificate being deposited with the commits
sionsrs Of the sinking fund, and these green
back certificates being issued to make thoss
rartffcataa ayaflable the cOmmissiOnars Of the