St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-01

New buildings during last z years)30 fold
1t must be understood, however that at
present the system is to assess real estate
under its actual value and personal property
at 30 per cent below its actual value, which
would make the actual value Of st. Paul real
estate today about 100000, 00O and per
sonal property value S95. 100000 mOkiug
grand total valuation OF 1898, 100000.
In 1880 the city limits of St. Paul embraced
an area of 1912 square miles, and in 1890
they include 55l2 square miles.
In 1882 the city purchased Lhe water works.
paying as purchase money $3.50 00C, and as
Stunning the outstanding Indebtedness Of the
company, sind undertaking the redemption
of 81 90, coo worth of bonds, making, with
subsequent issues of bonds for extensions,
ETC., total of So 360, 900. The 100000
worth Of bonds, which were bearing heavy
rate of interest, were redeemed and replaced
by 4l2 per cent city bonds; by this means
saving of So, 900 annually in interest was eff
fected.
To day the estimated value of our water
works. including l66 miles of water mains,
reservoirs, conduits pumping stations and
plant and various acquired rights, ETC., and
the offices and property on fifth street is
placed at s., 800, 00U, or more than sufficient
to pay off the whole city debt.
Out of the receipts of the water works
Sl10, 200 of the interest on the whole city
city debt, or about one-third. was paid in
1889.
BY the purchase of the water works the
city obtains daily supply of 1904, 600 gal
Ions of pure water at greatly reduced rate.
Hes all this been brought about by bad
management or extravaganza on the part of
the Democratic city government?
All this has come about while our city debt
has been increasing from $l.500,000 to
$1,000, 900.
But this is not all the city has to show for
Its past expenditures and present indebted
ness.
ST. Paul has assets aggregadng over $780,
rrThi ah n Folio
Thirty-six school building valued at
R1.12O900.
Thirty-nine school sites valued at So %. 900.
School furniture and fixtures valued at
S283 220, making total value of $1,927.
O2n, on which the bonded Indebtedness is
only $500, 0"0. standing out at de per cent.
We have fire department second to none
IN the country, which represents in assets
S501, 731, three-ffths of which is i'll Duild
ings and real estate.
We have police department. though in
adequate in numbers to the extent of terri
tory they have to cover. yetis so efficient that
our city is the most orderly and peaceable in
the West and serious offenses are rare.
The cost of main tanning the police depart
ment, which consists of 169 men and Off
eers, and includes an excellent electric
alarm and patrol system, was last year $17S,-
F83.
department for licenses alone was $417,-
49,. S5, more than twice the sum necessary
TO maintain the entire department
st. Paul, too, has a park system, not yet
fully developed. ii is true, which embraces
36512 acres. divided into 80 parks, distrib-
uted throughout the city. This is exclusive
of our magnificent boulevard system, now
projected and well in progress. and at to-
days valuation are worth about S1,500,000.
We have, too, magnificent court house
and city hall, which cost the city about $500,
OOO ard Ramsey county like sum, and is a
credit to St Paul, while its site is worth
100000 more.
We have lO2Ia miles of sewers constructed.
upon which has been expended over So,
R5n,00U.
We have 39l3 miles of paved streets, 439
miles of graded streets, and 526 miles of
sidewalk, which represent several million
dollars outlay, which, while not built at the
expense of the city. except at CROSSINGS, etc.,
yet go TO show the progress made by the city
during the pastten years.
We have one of the best lit cities in the
United States. our lights consisting of 2, 14I
gas lamps, 1852 gasoline lamps and so
electric lights. the total cost of which during
1889 was S143,508
We have three magnificent iron bridges
spanning the Mississippi, and in other parts
of the city there are located nine other iron
bridges, two stone bridges. twelve wooden
bridges, which represent total expenditure
of over $l,500, 600 with their approaches.
We have city workhouse which cost $50,
o00,an almshouse, which represents S2O.0u0
1895, 900; q new hospital costing 100000
four police stations and sites. and the ole
city hall property, worth about 1925, 900; 6
morgue and site. costing $12, 900; public
library of over 10000 volumes, and othe
property valued at not less than 100000.
Prior to 1880 our city bonds sold at 81
only, and we had to pay z and per cent IN
terest on them.
In 1880 our city bonds sold at par, and tht
rate Of interest was reduced to 5 per cent.
In 1881 The city's per cent bonds sold a
8 per cent premium.
Now the rate of interest on our bonds
only per cent, and the premium paid 70
them by capitalists equals almost 10 per cen
on Ale per cent bonds.
Since 98l the city treasurer has receives
as premiums on the sale of its bonds the tota
sum of S93, 947, which has been turned Int
the city treasurer.
The interest on treasurers bank deposit
during the last ten years amounts to S46
926. SO for the city and 1892. ID for Ih
board of education, or total of S50,71S.51
which was paid into the treasury.
The best financiers say that If a city's Il
debtedness does not exceed 3 per cent of il
assessed property valuation, and its bond
or,a Cttfn or ,Nf hon anti