The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1888-03-08

White females ,............. 8 IL
Colored males. ..,............ )
COlored females ..-.... 5 10 %
FINANCIAL CONDITION OF THE CITY,
IT'S BONDED DEBT. PROPERTY, &C.-Cer-
tain reports have gone abroad Injurious to
our city, and calculated to impair the high
standing of our credit. 1t matters not
whether this was the purpose of those
who have given currency to these reports,
the fact stares rs in the face. that the
public prints of city just 40 miles east of
us, comments unfayorably on our condi-
tion. and in a private letter from a
gentleman i'll another city in the
State, it is stated, Il hear bad things
about you, That you have spent $4,000
or $50 .000, have attacked the Sinking
Fund, have re- Issued bonds which had
been redeemed, and so hurt the credit of
the city that bonds which brought los can
cannot now be sold for 100 What are the
facts?''
Why, the facts are, that in June, 1886,
The bonded debt was. 1901 100000
The Sinking Fund was. 81 1903. 43
March 5th, 1888, Treasurer Hoge, in re-
ply to enquiries made By a leading bank
ing house in Richmond. Va, states,
The bonded debt at $315, 800. 90
The sinking fund at, ........ 70,343. 81
Increase in bonded debt -. Sl4, 100000
Increase in sinking fund. ...... 1902. %
Increase of bonded debt over
sinking fund in two years.. 81 ,S57.7S
For which increase the city holds valua.
bic property. asfolows;
New pump, sc ..,..............S 1908. 50
New aims house.. .,........... 100000
Electric lights for streets ... $4,000
Electric lights, commercial $50. 6,940 20
New school building ........... II ,644.65
S37 ,65S So
Or total addition of S37. 65s. So of valua-
bic and necessary real and personal prop
erty, as against an increase in the bonded
debt of s., s57.7S.
Treasurer Hoge further reports to
Messrs. Williams s. Co.. of Richmond,
Va, that Stanton has never defaulted an
interest, that all obligations are promptly
and fully met.
Upon enquiry of the treasurer, we are
informed that there are no Stanton city
bonds offering on the open market for
sale that the sinking fund is prepared to
take any that may be offered. He further
states that the books Of his office show
that the city was never III a more healthy
financial condition. The collections are
more closely made than for years past, all
obligations are promptly met, and parties
holding Stauntol city bonds, are not offer
ing them for sale. preferring to hold them
as investments-reoei their interest
every six months, without delay or abate-
ment.
BY the operation of the electric light
plants, the lighting of or streets costs
absolutely nothing, and besides q sinking
fund is being created from this source, by
which all the bonds issued for the com
mercial light plant will be taken up as
they fall due. So that in five years the
city will have this valuable franchise, ab-
solutely without one dollar Of cost to its
Treasury,
There has been no increase in the rate
OF taxation, it remains at just the same
figure, it has been at for years. There can
have been nc extravaganza expenditure OF
money, or it would be shown in such an
increase Of the city debt, as to cover the
valuable property added to its assets. The
handsome school building on Main street,
stands as a proud memorial to the liberal
lty OF the city in the eause of popular edu-
cation, and another building Of like style
and finish will soon be erected for the
col0red children of the city. The electric
light shines brightly out upon the darkness
as beacon Of enterprise, push and pluck
on the part of cur Mountain City. The
Almshouse, which crowns one of the hills
in the Western part of the city, invites
the unfortunate to its CHEEKY presence,
and gives comfort to those who seek its
shelter. While all this has been done, no
other interest of the city has been neg
4NotNA3 etli ITO OHliSStbiDDo INV,
interest paid without default, warrants on
the treasury paid in money, valuable prop
erty added to its list, and all paid for. The
question is asked by those who do not seek
information where it can be had how can
all this be done? To one who investigates
the matter, there is no trouble about it.
The financial affairs Of the city have been
managed upon strict business principles.
its taxes nave been diligently collected,
and faithfully applied to the creation OF
values Of great and permanent benefit to
the city, which should be cause CT JUST
praise to every citizen. We are in splendid
condition, and when we take into con-
sideration the comforts we enjoy, there ls
nothing to complain of as to any burden
of taxation. Our splendid climate and
magnificent scenery, invite those seeking
homes, and enterprise and well directed
energy, receive in our highly favored land
abundant reward. Let Us keep before
US The good things we enjoy, and ~
united effort and SinVlapnSS of DurrO SA