The record-union., 1892-03-21
THE DEBT OF SACRAMENTO.
A Wonderful Record of Quick Re-
demption of Bonds.
Source of supply of Water to Be
Changed to Wells That Yield Mill
ions of Gallons Day.

Under the above caption yesterdays
San Francisco Examiner publishes the
following article, which, though 1ncor-
rect in some particulars, does justice TO
The people of this city in one particular
lit shows that they are enterprising, and
have no intention of repudiating legally
acquired debt. That paper says:
People in Oakland opposed to the pro-
posed issue of bonds for public improve
ments have urged that bonds drawing 3
per cent. interest, to be redeemed IN
twenty years, would not sell, and incl
dentally mention that the credit OF Call
fornia cities has been injured among
fnanciers in the East and abroad by the
repudiation OF bonds by Sacramento.
As matter of fact Sacramento has
never repudiated any de0t, and is max
ing wonderful progress in paying off the
immense load of debt that is her heritage
from fire and flood.
Ten years ago Sacramento owed ST.
$4,000, fearful load for such city. One
third of this amount was due for interest
compounded the interest not being paid
for eight years. An attempt was made to
repudiate the interest due for more than
four years on the ground that the claim
was barred by statute of limitations. The
courts tossed aside this technical objec
tion, and then the city buckled down to
pay its debts.
At that time. only ten years ago. the
bonds were selling for IS per cent. Of par.
Now the Indebtedness is less than 81 ,000,-
600, the bonds are nearly at par, and the
city can be sure of extinguishing the en-
tire debt i'll seven years from now, If
such speed should be desired.
THE CITY OWNS ITS WATER WORKS.
This extraordinary condition of finan-
cial prosperity is due principally to the
municipal ownership of water works.
From the receipts of water Sacramento
The amount from licenses for sale of
liquor apportioned to sinking and inter-
est funds is $50. 900 year. With share
OF the amount collected by direct tax
Sacramento can pay her debt of million
in the seven years mentioned. But in
order not to burden the city the bond
holderS are expected TO consent to re-
-unding of the debt, the present bonds,
which draw d per cent. interest, to be re-
deemed by bonds drawing per cent.
Interest, the amount of interest proposed
10 be paid by Oakland on its indebted
aess. The principal holders of Sacra-
3nento bonds are Daniel Meyer. Samuel
Davis and George E. Bates of San Fran
cisco. AS they bought tmany of the bonds
st very low prices they make fortune
cut of the solyency of Sacramento.
Though the receipts from water rates
constitute an important part OF the in
come of Sacramento, the rates are low
about 90 per cent. OF the amount charged
IN Oakland. The quality of the wa, ,er
can hardly be commended, however, for
beside carrying silt in semi-solution the
muddy water may be expected TO be
affected by the sewage from Oroville,
Marysville, Folsom and other towns.
Therefore intense interest has been taken
recently in experiments in digging wells
the Snnur hS OF town A AnhOtt
appointed chairman of committee of
citizens to make the experiments.
PURE WATER FROM WELLS
The committee collected sufficient
sum ofmoney from few public-spirited
people (Sacramento men are always ready
70 give 1or their own town, and under
Abbott's direction two wells were sunk
The first six inches in diameter was
bored through l40 feet of clay and then
through 10 feet of sand and gravel. A
stream of pure water rose nearly to the
surface. a steam pump was applied and
$4,000 gallons OF water per hour were
pumped without reducing the water in
the well. A sample was analyZed by
Professor Rising at the State University
who certities that it is potable water of
unusual excellence and purity.
A second well, Ii inches in diameter, is
intended TO be used as supply for the
town. as it furnishes 100000 gallons an
hour or 100000 gallons per day OF clear,
cold water. The expense of distribution
of this water Will be small tor the engines
used for pumping water from the river
can be used for pumping from the we'll
y o reservoir is necessary. for the Holly
system of pumping directly into the dis
tributing pipes is used. The people of
Sacramento expect that the material pros
perity of the city will be increased by the
Improvement in the quality of the water