The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1892-04-15

regular order of business be taken up
and the mayor and newly elected al
dermen installed. Carried.
Mayor c. G. McCulloch then va
Gated his seat and the oath of office
was administered to him with becom-
ing dignity by City Secretary JOney
Jones.
Aldermen ,elect King, Poage and
Slaughter were requested to come
forward and were sworn in by the
mayor.
In vacatipg his seat ex.Alderman
John F. Herbert made a nice little
speech thanking the mayor and the
members OF the old board for courteses
extended and wished them all har-
monious and successful association to.
gether to the best interests of Waco.
The retiring aldermen shook hands
with each other ard were in tern
heartily shaken, Pleasant farewells
were said aud they gracefully retired
and took their seats in the auditorium
Their former seats were at once
filled by their successors.
To the Honorable City Council of Waco, Tex
GENTLEMEN: In assuming the
duties of mayor to which | have been
called for the second time by the suf
frages of our people, l am not IN
n lndful of the responsibilities imposed
upon me. The two years just past has
been a period of great financial depres-
sion, aft citing not only our city, but
every other city of the great state Of
Texas, and, in facs, the whole civilized
world. This great depression, want
of confidence, aud shrinkage of values
is a source of alarm, not only to our.
selves, but particularly to all finan ial
people and corporations having their
money invested in the cities of the
South and West Notwithstanding
this condition of affairs / feel safe in
stating that the city of Waco is more
prosperous today than any other city
in the country. By reference to the
annual financial report herewith sub
mltted marked exhibit A you will see
that our financial condition has
been again improved and the cur.
rant debt considerably decreased dur
ing the past year. Our bonded debt
Is very small compared with all our
Texas cities, which have made any
pretentions to progress. We have a
good showing of assets in the way OF
public improvements and just claims
against abutting property owners and
street railroads for all expenditures of
this fund, and there is no cause for
alarm for the future growth and pros
perity of our city.
1t is not now question of what has
been done in the past, but what can
be accomplished In the future, and
how best to subserve the interests OF
our citizens for the next two years.
Every just and legal contract of the
city of Waco made by former admin
istrations of the government should
be faithfully carried out by the in
coming council, no matter at what
cost, in order that the honor and
credit and good name Of our proud
and beautiful city may be protect
ed at home and abroad. There
should be no longer delay in issuing
funding bonds tc pay off those out
standing and overdue bonds Which are
called the Waco and Northwestern
railway bonds. The remaining
S42, 900 of this debt is held by various
owners, some of whom are impatient
to collect their money, and a pei
cent bond can be sold at about par
and will serve to pay off the old issue
save our credit SO far, and not increase
our debt one cent. Delay will serve
to damage our credit, beyond any
question. Economy and reform
should in my opinion be the policy Of
} the city council this year, and | would
respectfully suggest to your honorable
, body that inasmuCh aS ua connot