Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1888-04-20

certifes to the correctness of m1y statement.
and Mr.. Cochran can hardly have anything
over the signature of Mr.. A., or IN las hand
soritSng, that will disprove it."
Well, let US see how about this. I will
first publish verbatim what Mr.. Argen-
bright did write me, which is as follows:
SrAUNroN, MARCH 80, 'SS.
j. 4. Cochran, ESQ.,:
SIR-I find that the accounts allowed as
miscellaneous on August End, 1887, amount
to $346.5O, including one for $274.50 to the
Thomson Houston Electric Co., of Boston.
The last account was not charged to electric
light, either operating or construction ac-
count.
N. ARGENBRIGHT, Clerk.
In addition to this I have a written
statement from MIR. Arista Hoge. Treas
urer, showing that he has paid out in
bonds and cash for the electric light plants
and running expenses, over SIS, 600. and
that the account for services of expert
amounting to $274.5 is not included in this
amount. 1t seems to me very singular
that one as accustomed as Mr.. TamS is
to dealing with figures should make a mis-
take Of $l1 90 in transcribing his first ar
ticle, especially as he could find amounts
IN council book which would make just
few cents over 50 270, the amount be
claimed the street plant cost.
[ have been informed that in the last
week he has with his own hands, after
painful consideration, marked one item
of $22 AZ. terror, should be charged to
operating ACCOUNT He has also, think,
discovered that other items heretofore
charged to the street plant, ought to be
charged to the com mercial plant. l will
state that these accounts are considerably
mixed on the Council books, but one thing
is certain; if Mr.. Tams put in the $274 SO
in his first statement, be certainly made
big mistake in saying that the CONNER
cial plant cost only &c. $40, for any one
who will go to the trouble 20 add up this
account will see charged to construction
account of these plants after deducting
the $22 AZ, 80 recently discovered to be an
error, the sum of SIG ,449.40 which certain
ly leaves after deducting the sum OF
SO 2S1 05 eleven dollars more than the
amount first stated by MIR. Tams as the
cost Of the street electric plant) the sum
OF 81, l66 35 as the cost of the commercial
plant. Take your choice Mr.. Tams! You
have busted on one or the other of these
plants. I would like also to remind Mr..
rams that he put wages at $S00-ln his
carefully prepared statement, when he
proposed to give, to the cent. the operat-
ing expense of the street plant for 1887.
On the payroll for March, 1888, and
charged to operating account of the cleo
trio light. is charged the wages of two
employees, one at $50 per month. the other
at $40. This would make 81 $50 per annum
and to this add $3.50, amount added to Mr..
John T. Longs salary by reas son of extra
duties imposed upon him by the electric
light service. This makes ST. ,24O for labor
instead of $500, however, this may be an
other error in transcribing, for surely Mr..
Tams could not leave off the $1G0 increase
IN MIR. Longs salary purposely. even If
he did get the other labor at $500 II 1887.
Now about the bonds.
Mr. Tams says:
AS Mr.. Cochran has done everything in his
power to bring discredit on the bonds of the
city, by making such reckless statements as
the following: ''Staunton bonds (sixes) that
formerly brought $4,000 are to-day dull at
par or $4,000, &C."
Oh no, Mr.. Tams. did not bring down
the price of the bonds; l helped, while a
member of the old council, to make them
worth Sl06 90, but you and your friends,
by your extravaganza expenditures of the
peoples money, brought them down until
they went begging at par or 500, before |
had written line or said one word about
them. 1t does seem to me that a man
must be surcharged with gall, who would
lay the decline in Staunton bonds at my
door. If | had had my way. they would
be worth $l06 to-day.
Now for the old chestnuts.
Mr.. Tams says:
First-That the bonded debt of the city has
been increased by this council only $14, 900
which fact Mr.. Cochran had to admit.
Secondhand by its financial policy, this
co0nai1 hos added the ya1uo of fha citv
assets, numerous useful and permanent i'm
provements worth $780, 1880; which state
ment Mr.. G. does not undertake to dlsprove.
Third That the sinking fund has been in
creased over 100000 IN excess of what the
law prescribes; which fact Mr.. G. cannot dis
prove.
Fourth-Tbat the city now has contracts for
sale of commercial electric lights, amounting
to about so, 1880 per annum and that the
street lights for the year 1887, cost about
81 $50 90; neither of which statements can
Mr.. Cochran disprove.
In reply TO first question, will say that
if you will pay Mr.. B. T. Bag by the bal
ance due him on the new schoolbOuse,
which is due and being pressed for, your
bonded debt will be Increased more than
$14 900. Why don't you issue the 81 900
,, you are entitled to issue under the resolu-
ton of September 9th, 1887, and then take
the 81 coo you have wrung from the poor
people of this city, without the color of
law or authority, Oh their water tax, and
pay off Mr.. Bagbyl
Poor Bagby, however, will get no money,
suppose, until after the election.
In reply to second question, 1 will say,
| What man, or set of men is there. that
can't pay sos, 15s 40. when they have
$42 029 SO in cash and bonds to do it with,
as [ will explain further on.
Third questlon-In former article. in
going over these old chestnuts, Mr.. Tams
had the sinking fund under head of NJ 4,
as follows.
''Fourth-That the sinking fund has bee n
increased from $57 300. 43 to $50, 347.65."
But he has somersaulted again, and
now brings it in as No. 8. Let us see about
the So, 900 increase alluded to-. [ learn from
the Treasurer that this sum is composed
of delinquent land tax tickets, and liens
upon real estate, by reason of the city IS
purchase of delinquent lands. More than
likely one-half of these tickets will not be
collected in the lifetime of any member of
the present council. | can see no reason
why the council should put parcel of
''fea bitten' claims like these to the credit
of the sinking fund, unless they propose 10
use the cash that should go to the sinking
fund. and now represented by these dila-
pidated assets, in some of their many
schemes tor spending money. Mr.. Tams
speaks in No. 2 of the permanent improve
ments amounting to $36, 15S.40, as if he
had exhibited great financial ability in
paying for all these things and had only
increased the bonded debt $14, 1000. Sup
pose we look into this matter The present
council received from unusual sources the
following amounts of money:
l. Jno M. Carroll late Treasurer, S S.058 81
g Gushing tickets, over-estimated
value ....................... .......... 1882 so
3. Delinquent land tickets. ........... 492, 40
$14.6 74 Oh
4. Actual resources of 1887 over