Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1885-01-10
THE TOWNSHIP BONDS.

In the matter of re-compromisinS
the bonds of Lexington, Washington
and Sni-a-Bar townships it seems to us
best to make haste slowly. Especially
should all the facts be laid before the
people prior to any action at all; other
wise there may be cause for regret at
what is done.
We print elsewhere a statement Of
the county clerk which should receive
careful study. In this article we shall
endeavor to supplement the figures
there presented, with others that may
make the situation i'll each township
somewhat clearer.
Mr.. Skinker asks us to compromise
the bonds OF all three of the townships
at the uniform rate, in each, of 81 cents
for bonds and 65 cents for judgments.
The present rates of compromise,
agreed upon at the St. Louis bond
holders conference, are, for Lexington
township As cents for bonds and 47a
cents for judgments; Washington
township, 80 and 374 cents; Sni-a-Bar,
so and 32t cents.
Mr.. Skinker's position. and that OF
Judge Krekel, is, that Washington and
Sni-a-Bar should pay the same compro-
mise rate as does Lexington township,
as they hold that they cal do so with
the same percentage of taxation.
Let us see just how each township
stands.
The debt ofLexington township, with
simple interest from date of bonds.
now amounts to 1907 ,243. The assess
ed valuation of the township is $2,1Sl,-
234. With the old bonds compromised
at G5 cents, as nearly all of them are in
Judgments, the debt will amount to
$213,497. AT six per cent. it will re-
quire in round numbers SIS 900 annu-
ally to pay the interest upon this sum-,
or, with a small sinking fund, a tax Of
20 cents OH the one hundred dollars.
The state tax is now 40 cents; county
tax, S1.O0; school tax in Lexington 40
cents; and with the township tax at 20
cents would make the tax in the oun
try about $3.50. In Lexington $1.3S
will have to be added, making the tax
in this city $3.Ss OH the hundred dol
lars.
The debt of Washington township,
with interest as in the above case.
amounts to S126,750. The assessed
valuation of the township is, $685.
16O. Compromised at IS cents the
debt will amount to 100000. At six
per cent. it will take $5,4OO per annum
to pay the interest, or, with a slight
sinking fund, a tax of 20 cents GU the
one hundred dollars. The state tax is
now 40 cents; county tax,,S1 90; aver
age school tax in Washington town
ship, 81 2-3 cents, and with a town.
ship tax of 20 cents would make the
taxes in that township amount to
50 47s OIL the hundred dollars.
The debt of Sni.a-Bar township,
figured as for the above townships,
amounts to S74,7O0. The assessed val
uation of the township is S702, 497.
Compromised at Mr.. Skinker's figure
of 65 cents the debt will be, in round
numbers, $4,000. At six per cent. it
will take 5000 per annum to pay the
interest, or, with a moderate sinking
fund q tax of ~ cents on the hundred
dollars. The state and county taxes
amount to 81 &c; average school tax in
Sni-a-Bar township, 40 2-s cents; with
a township tax of 20 cents this would
make a tax of 81 so 2-3 on the hundred
dollars valuation in Sni-a-Bar town.
ship.
Allowing for d~elinquencies it will be
seen that these calculations are very
closely made, and that nc less rates of
taxation can be made to do. We sub
nit the facts to the people Of the town.
ships for their deliberate consideration.
There are grave and weighty argyll
ments upon both sides of this question,
but it does seem to US, all things con-
sidered, that our creditors should be
satisfied with the rate of compromise
already agreed upon by SO many of
their representatives, In a conference
sought by them, and it which their
terms were met.
We pause for an exposition Of reas-
ons why we are incorrect in that opiii-
ion.