Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-01-13

pearing not to be issued and signed I'm con-
I0Imlty with law, the accounting officers OF the
such as were Improperly signed.
The Treasurer alsG declined TO receive draw
packs unless based on revisions made upon the
complaint OF the property holder or his duly
authorized agent or attorney, and DRAWBACKS
Issued against the so-callei ii. D. locke. as
sessmentSt and drawbacks In which interest
nad oeen mclaoed until the legality OF their
PAYMENT OF SPECIAL ASSESSMENTS BY TR8
UNITED STATES.
Inc treasurer refers TO the report forwarded
Dy tne Dlstrlct commissioners to Congress that
the United States is Indebted to the Dstr,c5
$65, 1927 for street improvements since 1871.
and that one-half OF the work done In Slash Run
sever, Tiber sewer, and Boundary sewer sholld
be Charged to the United States that hail
amounts to $l,O4O, 1874. The treasurer saws
that the government is not given credit for its
snare OF all the appropriations II given credit
for one-ha Of the appropriations made for In
terest on the Is bonds, By the acts or February
1st, 1875, March Sd, 1875, July 81 1876 and March
50. ls.l; the Indebtedness claimed of sos 49,. "a
canned Dy the District CommiSsi )ners, would
De extlDgulShed and leave the District in
debted to the United States
AS to the cost OF the work done on the great
main sewers. one half OF which, 1914 4l92I, is
charged to the United States. It may have
escaped attention that the assembly act of June
70, 1913, under which the sewerage assessments
Ia question were levied. was disapproved by
Congress, and the issue of sewerage certificates
QlScOntlnueG; and that by the action of the late
board of audit 81 O35 42S SO Ia sewer certtfcates
ana $552. !e4. 60 In refunds OF sewer-taxes, were
converted Into ee-siXty-flve bonds and that
the United States Is chargeab bic with the pay
ment OF one. half the principal and one half the
interest OF said bonds. The remainder OF the
same class OF bonds through the Court of
Claims. under the act OF June l6, 1850. The 10.
Cebtedness set up In the report does not seem.
therefore, to exist.
THE LINTHICUM LOAN
IN pursuance OF authority conferred by the
act OF the assembly Of June 26th, 1873, the gov.
ernor OF the District borrowed from the Li1thi-
cum Institute 0,GO0, giving four notes. dated
at as many different dates in 1873 and 1874 for
Slo, GOO each. payable five years from date and
bearing interest at per cent. The notes are
sun outstanding, though at or after their matu-
rlty the interest was reduced TO per cent which
is The rate now paid The loan was made for
the completion OF the Curtis school Building OF
georgetown, which Is mortgaged for the secu-
r1ty OF the loan. Since the completion OF the
building, In 1875, the public school authorities
have permitted the Institute to occupy q room
IN IT, Iree OF rent and to conduct therein night
school Tor INDECENT white boys The Secretary
OF the Treasury and the First Comptroller have
recommended that the matured notes be paid
ana me interest stopped. on the ground that
the District no longer needs the loan ana can
borrow at lower rate.
TIE GUARANTEE FUND
Tne District Commissioners have turned over
10 oe+ the Treasurer the following, being the
amount retained from contractors as a guar
an1ee 70 Keep new works In repair: District OF
Columbia 365 per cent registered bonds.
ssi,eoo; district OF Columbia 3 65 per cent.
1907, tcoupon), 800; United States 4 per cent.
rounding certificates, $l2O; cash, $5i.O9. The
accounts represented Dy the above have been
Ieadjusted SO as to show exactly to whom the
ponds are due and for what purpose they are
held. In order to make this readjustmenI, the
treasurer was obliged to sell portion OF the
ABOVE described securities, but was enabled to
cOmplete tne Iead1ustment not only witho 1t
loss TO the contractors interested, but at posi-
i've advantage, by reason OF appreciation of
nally made.
ISSUE OF THRKE-sIXTY FIVE BONDS UPON JUDO
AENTs OF THE COURT OF CLAIMS
section OF the act OF Dune 10th, $780, author
i iZes Inc secretary OF the Treasury TO demand OF
tnIeeslXty live loan to be issued In satisfaction
OF the judgments OF said court, which bonds are
10 De accepted at par by the claimants Since
l the assage OF the act In question, bonds OF the
thIee- e-slxty-hVe loan have SO appreciated iu
Value that they now command premium Ia
the market. The public interests seem TO de
naad 1n, that the United states and tue DIstricj
should have the benefit OF this premium. ana
that the act OF June Is, 1880, should be SO mod,
NJ q as to leave 1T optional with the Treasurer
OF me United States, as sinking fund commis-
judgments or the Court of Claims, when nav
ment Is demanded thereon. either In money. T.
DE obtained by the sale OF bonds OF the three-
Sky y-hve loan. or In bonds as the act nov pr
VldeS, as may ne most advantageous to tue Dub
lie interest. pN"
RECOMMENDATIONS,
the following recommendations are made
l: That, in the present favorable condition OF
the revenues OF the District, there be no further
increase or the bonded debt OF the District bY
the funding of floating debt and accrued in
teIest. 2. That section Of the act OF June i6
1850, be modified to enable the Treasurer OF the
United States to satisfy the judgments OF the
Court OF Claims In three sixty i've bonds. or in
money, to be realized from the sale of bonds.
for fho
interests. 8. That authority OF law be given for
tne investment OF the permanent annual apprO.
prlation for sinking-fund on the three sixty
nVe loan ID any bonds OF the District of Co
lumbia. 4. That the provision recurring the
aforementioned appropriation to De invested
10 tnree.slxty. .nve bonds at par be repealed. 5.
mat the deficiency In the appropriation for In
good before the first proXimo; otherwise there
QSs1 dividend.