The times. [volume] (Richmond, Va.) 1890-1903, 1895-05-12

take as 10 Mauchester's attempt 20 tax
its property. neither Mr. Bronaugn nor
/ can tell. II will probably resist me
assessment through every court IN "nlCh
II can be fought. In his printed state
ment for the committee he says.
This property viii probably become taN-
able the present year" He has no rkhl
TO add this assessment when mas Ho'
been made II presume1. TO the oio 1sssss
ment Of 1894 II the assessment LOT 80
has been made he should give US the
whole assessment and let rs know now
much. II any. Il IL lower than the assess
ment OF the great boom year 1850. Every
business man must admit that could NOT
make my figures on an assessment Wnicn
has not yet been made
And now. while MIR Bronaugh was max
ing FOR the Council this rosy hnahcial
statement of what he expected 70 ne 1.'
surplus arising from future Assessment
and publishing IL as reply 20 my state
mont as 10 4 deficit which actually exists
ON the only assessment which has neeH
made. why did he not publish as part
OF il something else which he eNpe'ts
and which much more materially an
the situation? Does not candor ana '"'.
MAY require that ne should also say thst
the city OF Manchester has negotaleu
or is about closing negotiations Tor lH'
sale 81 $4,000 OF bonds, additional 10 N''
bonded debt, which he states, IN MS re-
norr called "A Reply 10 Mt DOoley'
X Is a material point IA this discus
sion 10 know how many bonds the CITY
of Richmond can issue against Nanchts-
ter real estate " she is annexed.
l stated that she would be able 70 issue
only $4,000 over and above the present
debt. Mr. Brouaush undertakes To sho"
that The city Of Manchester can issue
s23i 600 Of bonds tn addition 10 her present
bonded debt. He arrives az This by NIX
ing up the old assessment ana the as
sessment Vet to be made for 1888. claiming
I'm iesuo bonds against SSli.o0 of southern
railway real estate which De hopes VIII
ho taxed.
r viii show the people Of Richmond
how this viii stand IL Manchester be
annexed.
The assessed value of Manches-
trrs real estate for 1894. as
per Br0naughs statement 20
the Committee on AnneNa-
ton. is~.......................s 2SisSs2 90
lie says In his footnote that
the above assessment for 1924
embraces water-line and
sfIeet-railway property az
present not taxable, amount
ing Observation-Disclosures. 5,o55 m
Balance OBSERVATION-DISCLOSURES -5-h.1N I'D
II We annex her all future bonds would
have TO be issued uuder our charter. when
allows only Is per cont. on assessed values
of real estate. Eighteen per cent on
S2.816Z0S equals SHs7T. She has already
issued si1N0. and as / am informed,
las negotiated sale OF $4,000 more total
$4,000. That is 20 say. about $4,000 more
than the limit which we could issue. IL
she can tax the Southern railway proper
ty. as she hopes al $4,000. she would
have S3.ln.o00 as the basis FOR bond issues.
At is per cent this would yield us $685..
000 against which she has sold say Sf-.-
001, leaving balance OF $1,000 TO he sold,
even ~ she can tax the Southern railway
property and there should Doe no reduc-
ton m the enormous assessment of 1880.
II she has not the right 20 tax the
Southern railway property then sle has
already sold about $1,000 more Of bonds
than We would have q right 20 sell against
her real estate. II she ia annexed. we
would be deprived OF the powr 20 issue
bonds on our own property o. the extent
of $1,000 because OF her ovef-issue. you