Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1886-07-07

.r,ora affective organization at so small a cost.
The members are volunteers, but tney respond
as promptly and zealously to the alarm as
though they were paid for their services The
NE record of the city is the best testing onial to
still greater efficiency, 1 respectfully ask that
the petition sent to your predecessors, request
ing the establishment of reel house, prop
erTy equipped, on North Augusta street, receive
consideration. The only serious fires we have
mad for M M the 1t
reel houses, and the difficulty of promptly
reaching it.
WEEKLY SETTLEMENTS.
T1oubt not that at the earliest meetings of
the Council the custom of supplying city en-
nIovees with StOre-orders. instead of paying
Them in money at the end Of each week. will be
large, and certainly they should have the OPP
por5unity of purchasing to the best advantage !;
/. e.-for cash. system of weekly SETTLE
ments, with those who would be benefited
the reby, can be readily arranged, and Justice
and right require that 1t should be done with
our delay.
THE COST OF IMPROVEMENTS.
It may be urged that the improvements indi-
Gated will require too great an expenditure.
city to meet that expenditure. If it were de-
sired to undertake the entire work ct thu
time, the cost would be less than $4,000. To
meet this. bonds at per cent, or perhaps less
rate of interest, could be issued and their par
would be $500 and possibly less. Provision
for the sinking fund would increase this
amount to S5ooe per year restoration 81 OF the
Sl0j-would more than meet the additional
charge upon the treasury, and would Cypress
no one.
Can Staunton negotiate such loan? Under
the act approved March Goth, 1875. the city's
bonded Indebtedness cannot exceed II per cent.
of the assessed values of real estate and Is per
cent. of the assessed values of personal prop
erty.. The aggregate Of taxable real estate
within the city is SI,757l96 of personal prop
erty SAL $50. This fixes the limit of bonded in
debtedness at 1854. 957.17. The present bonded
debt is $500 0O0. giving us margin, in round
numbers of SIS, 900.
Doubt has been expressed as to whether
not the city would be ultimately held bound
for is second subscription to the capital stock
of me Valley Roailroad Co. In casesit is, the
bonded debt would be increaseds5O,O 900, leaving
only SIS. 900 to make up the maximum allow
ance under the law. The conditions upon
been complied with, and in the opinion of
learned counsel the city cannot be held to 1t. On
the 2lst of April, 1874, Maj. t. G. Elder, the then
council, filed a carefully prepared and eabor-
ate opinion covering this subject. He held
conditions upon which the subscription was
based, released the city from its payment. As
matter OF 1act the CITY mas not recognlzesa me ne
and her proxies in the stockholders meetings
OF The Valley r. R. Co., have, uniformly de-
cllned to vote o greater number OF shares OF
stock than the first subscription of 100000 for
which bonds were issued represents Not on
~ tnis but the Council on the 4th of Feb'y,
1879, formally notified the authorities of The
Valley X: R. Co. of the failure to comply with
consequence thereof the subscription was re-
voked The notice was served upon Mr.. Key
ser, the President of the Co. other proceed
fngs confirmatory of that action have since
been had
The lapse of time and continued failure of the
Co. 10 make good its part of the contract. have
but strengthened the position taken on behalf
of the city, so that it seems altogether impro5-
able that we will ever be called upon to pro-
vide for this subscription.
If Eowever, in the opinion of the Council, it
would be unwise not to regard this $4,000 as a
poss BILE legal demand, to be provided for in tn e
future, then the city is estopped from any IN
av o nth the eRneudtnr,s IuHt he Iim,ted
10 the more pressing demands, such as the
schools, the poor house, the station house, tn
engine, &C., leaving a systematic improvement
Of the streets and sewerage, to the future
1t may be added, that of the $4,000 of bonded
debt bearing interest at 6 and per cent, all
except SS2,700, is redeemable, at the pleasure OF
the Council, from time to time, during the next
ten ears. This will afford the opportunity of
substituting bonds at a less rate of interest for
existing obligations thereby materially reduc-
inc the annual charge upon the treasury.
The available fund might be supplemented
by a sale of such of the city lots as now bring
in no revenue. The market house property,
tine school is removed. ought to command
good price, or better still, become source of
profit by being restored to its former uses.
resources of the council. There can be no ques-
ton to the pressing needs of the city, and in
the existing state of affairs, with labor cheap and
abundant. and so many worthy workmen seek
ing employment, it would seem that no time
more suitable could be chosen to commence
and prosecute the work, provided the necessary
means can be commanded. The measure OF
city's prosperity is not always the rate of tax
alton that prevails, or the annual accretions to
the Sinking Fund. If Staunton expected
nothing from the future, and proposed to invite
neither additions to her population nor increase
to her trade. then it might be well enough to
drift contentedly along, satisfied with an an
nual decrease of taxation, as well as of taxable
values and having higher ambition than
the rapid extinction of the debt. Parsimony
is not prosperity. l take it that you gentle
men, who have been selected to manage the
affairs of the city and promote her interests:
will be satisfied with no lesser measure OF
duty performed. Whilst neighboring cities and
towns, less favorably located; more re-
mote rom the raw materials possessing lnIe-
fractions for enterprise and capital, are earn
estly reaching out for fair share of trade, and
laying the foundation for future commercial
importance, our own city. to which SO much
has been given, has remained practically mac
believe that revival of business cannot be
much longer delayed. With renewed activity
South her mineral and timber resources.
water power, cheap lands, cheap labor &C.
plants. That Staunton may press her CLAIMS
for a fall proportion of these prospective in
dustries. 1 respectfully suggest the appoint
ment, from your body, of special committee to
be known as the
COMMITTEE ON MANUFACTURES,
whose duty it shall be to consider what special
encouragement the city can oHer 10 mahuiac-
turers, and what other inducements are here
afforded, and to present the SINE to parties
they nave reason to believe are looking for loca-
tiens. The invitation emanating from an ofhclal
source would command more careful consld-
GRAFTON. than if it came from individuals. 10
the same end, 1 further beg leave to suggest
that said committee be authorized to insert
suitable advertisements in some of the leading
trade journals, briefly setting forth the advanta-
ges of stanton a manufacturing site. In this
work, l am satisfied, the committee would
have the cordial cooperation of the Chamber OF
Commerce, the press and our citizens gener-
ally. Respectfully,
JACOB YoST, Mayor.
Col. Won Rorcke's Visit to Mrs. J. Il. Il.
Stuart.