The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-12-09

thfnx liz. q clear understanding cg the
present 6nsncsas condition Of the city
The Posr-IxTEfEFgKxcEz correspondent
was Disgusting tas matter q day or two
ago With Iez6sng business man when the
latter produced some figures which BE $50
recently ossained from tie city AUDITOR
and which be said had convinced hin,
although belisFer in the principle OF
municipal ownership Of lIghi and
water works, taAt IL would Oe
very unwi-s for the city 70
inour any additional liability ct this time
AZ tie suggestion OF this gentleman the
reporter ha. since verified these figures oy
calling upon the proper officials In the
FIRST place IL appears that since Decenosr
the city has been in default for interest
on bonds 10 the amount % $1,000. and
thai q large part Of the delinquency - OF
several months standing. For iss, the
interest charge viii be 81. Ga5, or a tribe
more than s, 80 per month. Here. then.
j. demand liability Of 81. 035. 8 large
part Of which is nov due and al OF which
should be paid within one year and none
Of which can bs stood OF BY the issa-
snce OF warrants Add 20 this the ordinary
expenses Of the city government, which,
wiEh salaries reduced 20 minimum. are
estimated ter is95 at 81. 0oo, and IL sp-
rears that about 81. 90 must be raised
during 1896 II a.! liabilities are met. OF
course the principal resources 10 from taxes.
The assessment is approximately s4s0oo. 90
and the levy IL I2I4 mills. II il were all
paid the income from this source would
be $50 90 but as a matter of fact the de-
iinqacncy for 1s93 was $1,000, or over 10
per cent, and there is little reason to
reckon upon larger payment this year.
Counting, therefore. upon 90 per cent. we
have $50. 90 There are now fifteen saloons
paying 500 per year each. and should they
all continue anothe- wear they will pay
into the treasury 5000. Other licenses
and fines amount TO about 81 900.
and the incosae from the water
works, costing SIS, 900. is about $4,000.
which is not enough 10 pay operating ex-
penses and the interest on the water bonds.
We thus have liabilities of So, 600 and
only s47 600, at a liberal estimate, with
which to meet them, leaving about the
same deficiency g year hence IL the same
conditions continue as that which con-
fronts the city now. In this connection il
should be borne Ia mind that the present
deficiency results not from any recent ex-
the complete footing of the treasury by ex-
Treasurer +. 81. Issnsee. whose shortage
was approximately s69, 900, OF which sl4,-
600 was in the interest fund, SIS 900 in
various other funds and $4,000 in special
street funds.
1t is extremely doubtful If proposition
to issue more bonds for any purpose would
now carry. and some of the city's most
careful business men argue that If special
tax is levied ii should be for the purpose
OF paying interest and protecting the city's
credit. instead of putting in an electric
light plant. which many believe would cost
two or three times the amount of the esti-
mates when completed, and would then
cost nearly as much TO MAINTAIN as the
city is now paying for forty lights. Ii is
true that forty lights are not enough, but
IL is also true that ii is as many as the city
can afford. The special light committee of
the Board Of Trade reported last evening
that Whatcom creek affords water power
sufficient for 100 arc lights and 1900 in
candescent lights. which il is estimated
would cost about $4,000 and would
yield an income OF $3.50 a month. and
could be operated by four men. Many
conservative citizens, while admitting that
the theory is good. argue that 1T is con-
dition ana not theory that confronts
US. " and that the condition does not at
present warrant the experiment.. And
there seems 10 be some doubt whether the
Law would permit the city 10 compete with
private corporation in furnishing light
for private use. Ii not, there would be no
| revenue, and with no more lights than are
now in use the city would gain but little
The problem is one of the first that the
new council will be called upon to wrestle
with