Evening star., 1886-08-07
THE LIGHT INFANTRY'S FUND.
what Gentlemen Entrusted with Its
Management Have to Say.

what Gentlemen Entrusted with Its
Management Have to Say.
statement has been published to the effect
that there is considerable dissatisfaction over
the financial affairs of the Washington Light
Infantry Corps, especially because, as stated
That Mr. Timms had said the board of mana.
gers at recent meeting of the corps was una
Die to give statement of the assets Coz. Moore
1t was stated, had been requested to call a spe-
clal meeting of the corps.
WHAT COL. MOORE SAYS.
STAR reporter this morning called COL
Moore's attention to this publication, and he
said:
Il have received a request from the necessary
number of members asking for a special meet
ing 10 iurther consider the subject of the sum-
Iner cncam pnent, and such a meeting will be
heli next Monday evening. am not aware of
any dissatisfaction in regard to the financial
eonuItloh OF the corps, and the statement that
Col. 11Tnms said that the board of manag ers
was unable to give the assets is incorrect. He
ss'lu however that the complete assets from
the lair Could not be given. all the returns
were not In. In regard To the various items of
revenue and the interest on the bonded debt
full Information has been given and is ayaila,
pie cannot understand the motive for such
publications, but have reason to believe that
further add that his identity cannot remain
unknown very long,
MR.. TIMMS' STATEMENT
The reporter also saw Mr.. Timms, the secre-
tary of the board of managers, and he said;
1.-The article to which you refer, purporting to
be an interview, / have read before it was
printed in the form of resolutions, which a
member of the corps showed and said that he
was going 10 offer at the next meeting. There
is no particular reason why he should not but
his course lar shows that his object seems to
be 10 inJure the standing OF the corps in the
public estimation. He was undoubtedly the
person VINO furnished the information pub
ilshed few days ago, which purported to have
been overheard by reporter at one OF the
VINO was dropped from the rolls tor non-pay-
ment OF his dues and was placed on the roll oI
honorary members.
"However,' continued Mr.. Timms, at makes
but little difference who he is or what his mo-
tIves are. The conduct OF the finances of the
corps has been attacked, as well as It's credit,
ana III is the intention OF the board of managers
To call "A public meeting, to which citizens and
every one interested VIII be invited, and "a full
ana complete statement OF the assets and liza
biiItles OF the corps will be made. The state
Inent which made at a previous meeting was
not intended as a report OF the finances, but
Was simply figures used by me in the Way of an
argument to snow the Importance OF making
the encampment this season: near the city,
where We might stand a chance of making
some money"
-HE FINANCIAL CONDITION OF THE CORPS
"It may be well to say continued Mr.
Timms, that the finances OF the corps are now
managed by a board OF nine. which in April
last, under the revision OF the constitution, sue
ceeded the building committee. This latter
w L,
chairman eX-offlcio: Capt. j. L. Dyer, chairman;
Geo r. Timms, secretary: Capt John >. Miller,
treasurer; Thomas Somerville and Lieut.. E. III.
NeuIneyer-prIor To the com pletiOn OF the opera
house, III the 1all of 1854. and up to last April,
had charge of the finances OF the corps. The
present board of managers is composed as fol-
lows: Thomas SomerVIlle, presidents; Geo. F.
TimIns. secretary; r.. Ii. Neumeyer, treasurer;
w >. Rcose, Frank Hume, Capt. W. \. Dalton,
u. +. trdlner, D. Sim johnson and ChaS. L. NJ
Loeffier. W hen this beard assumed the man
aSement there had been issued S1U1 900 of
hrst mortgage bonds, bearing six per cent
interest, and S13,9oU second mortgage bonds
bearing seven per cent interest, leaving
$4,000 hrst mortgage bonds unissued and
S26,UoO second mortgage bonds unis-
sued. The floating debt amounted to
Sol ,6o4, which mad been incurred in complet-
Ing and furnishing the building. Tue present
port To the board is as follows: S1OI 900 first
mortgage bonds issued and $4,000 second
mortgage bonds issued. TIE tioaLlug debt has
now been reduced TO S32,6U4. To offset this
Indebtedness there S29, 500 of bonds of
both series which are considered as available
cash and when applied TO the floating debt will
be available within the next ninety day which
Will entirely wipe out this remnant of the
nOai1ng debt. Al present the interest on the
debt, the taxes and insurance, is S12. ..64. "A
annually, and with the reduction above
referred to OF the floating debt the annual
Liabilities for Interest, etc, Will be Sl2, 900
4 lie income of the corps from the rent oI the
Opera house is $4,000 a year, and the rent
PAID by the corps To the board ior the use OF the
irInory Is 81 300 year, thus leaving a surplus
over ali liabilities of 81 900. 1t is confidently
predicted that from revenues to be derived
during the next twelve months from various
sources at least : 1000 OF the second mortgage
bonds will be paid oil. Tue financial condIIlOn
OF the corps during tine past SIN months has i'm
proved materially, and the constant tendency
Is towards Improvement. There is no doubt, as
seen from the above figures, OF the ability
OF the corps to meet all its liabilities, thus
making the bonds IA desirable form of i'll
VeStnent. The creditors have been very indul-
gent, but in no Instance mas the interest been
allowed to lapse, and the desire the part of
the citizens seems lo have been all along 10 help
the corps perfect their plans iOr decreasing the
debt. such puDIlcti ions occasion "A needless uL-
esislness ON tile part OF the holders OF our secur-
ties, and render efforts to conduct our all airs
more ulItcult.