Wichita daily eagle. [volume] (Wichita, Kan.) 1884-1886, 1886-06-02
a TALK WITH A FARMER ABOUT
THE BONDS.

n TALK WITH FARMER ABOOT
THE BONDS
An elderly gentleman from the
country, successful farmer and bus
mess man, stepped into the county
clerks Office yesterday and said, 'sMr.
Clerk, l have come all the way from
home, this morning, IL The city to try
to find out something about this rail-
road business that we are expected to
vote upon on the S.h day of June.
Now, Pm naturally opposed to voting
bonds to any kind OF company or
corporation, and had made up my
mind to vote against them, but 1 have
heard some talk on the street since l
came into town that has set me TO
thinking little. One man told me
that the county would be in great
deal better condition financially with
the bonds than it would be without
them. | think that we ought TO have
more railroads, hut believe that they
should be built by the parties who
own them and who expect to make
money out of them.
Still if | was sure that the coming
of these railroads depended upon the
bonds carrying at this election l be-
lieve that l should vote for them.
Now l want you to explain to me how
the county can betfercd by issuing
these bonds.
Well, we will take the st. l. Fl. S.
e. w. railroad, which is the only
bonded road in the county outside of
the city of Wichita. The bonds is
sued to said railroad outside of the
city of Wichita amount to $6S, 600 of
per cent twcnty-year bonds. The
annual interest on this amount is
$4,76O. The Fit. Scott 'oad paid in
taxes on its property in the county
outside of Wichita $4.969.35. Deduct
the interest paid, S4,760, leaves diff
ference in favor Of the taxpayers of
S2G9.35.
DO your records show these figures
to be correct?
Yes, sir; these figures are taken
from the records in this Office.
Now, do you think that we will reap
benefits in the same ratio should these
bonds prop ositions carry and these
new roads be built into our
county. do most assuredly. We
might figure little more. These
three roads will give us 1l5 miles of
main track, besides side-tracks and
buildings. These 115 miles of main
track at the same average valuation
placed upon the lines we already have
for this year will give us 1874 ,O92.9 80
for taxation, and at the average rate
levied for the year 1885, will give us
as taxes from these new roads ST.
72279. The city of Wichita this year
will pay one third of the entire taxes
of the county consequently will pay
one-:hird of the interest on the $780,
900 6 per cent bonds. This will leave
two-;hirds of the amount of annual
interest TO be paid by the tax payers
of the county outside of the city. One
third of the bonds we will call $685.
600 for convenience, this leaves for the
rest of the county 1907 600 at 6 per
cent the interest amounts to 1913, 420.
The city of Wichita in 1885 received
but One-tenth of the taxes paid by all
the railroads in the county, a little
oyer 81 200 dollars. AT the same rate
she will receive out of the amount
paid by the new roads So, 172.27-this
will leave $40 ,550.72 which the rail-
roads pay on their property outside OF
the City OF Wichita. Now you zee
that the new roads will pay upon the
same basis upon which the roads we
now have are taxed on property out
side Of Wichita-the taxpayers out
side OF the city pay interest on bonds
$lS,420.00 leaving a balance in favor
of the taxpayers Of 81, 130.72, prem
ium of over SIX per cent. upon the
amount you have paid as interest
Oh the bond.. In fact your taxes
would be Sl,l30.72 less than they
would be if we did not have these
roads.
Well, am surprised, but am con-
WINGED that the figures are correct and
shall 90 home 10 talk it over with
my neighbors.
Well, now, my friend, this is only
one small item in the long list of adj
vantages W ich will accrue to us if we
get these roads. The building of
these roads into our county will give
us cheaper rates, will quadruple our
population inside of five years, will
advance our county to the head of the
list i'm every respect, will make
Wichita the creates. city west of ST.
Louis and
And you need not say anymore
Mr. Clerk, | am satisfied. Good day.