Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-02-06
THE CITY COUNCIL MEETING.
The Mayor Emphasizcs hts oonvic-
tion That the Apparent Discrepsn-
eics Wore Due to Clerical Errors.
a 1tnp at the Assessment.

Messrs. Drake and spoonts.
The minutes OF the last meeting
were read and approved without
change.
The finance committee submitted the
following:
Fort Worth, Tex. Feb. 8, 1S95.-Hon'
Mayor and Board of Aldermen-Gentie-
men; We your committee ON finance
respectfully return TO this honorable
body the following papers, to-wit; As
SCISSORS and collectors report of
amount OF tax roll for 1894; w. l..
Dobyns' petition to reduce assessment;
Chicago, Rock Island and Texas rail-
roads petition to reduce assessment on
blocks 1i8, il9 and portion of block
1875. all Of which have been reported
upon heretofore, and ask to have them
received and filed away.
S. N. FRY,
w. S. ESSEN,
X NJ. VAN ZANDT. JR.
The following 10 the report of the
assessor and collector referred to;
To the Honorable Mayor and Board
OF Aldermen Of the City OF Fort Worth
Gentlemen: / have the honor to In
form your honorable body that l have
completed the footings of the tax roll
for the year 1894 and that the same
amounts to, as follows:
Amount OF property rendered.slI9Ol,S5 $50
Unrendered on unknown list. 1,s56,26O
Total for 1894. 49, lO
The committees report was adopted.
Warrants were ordered drawn TO the
amount OF $lO2s &C for small sums.
The routine reports Of the city mar
/ shal and pound keeper for the week
ending January 20 were submitted by
the finance committee and approved.
The contract for lighting the city
buildings was let to the Fort Worth
Light and Power company at $97. so per
month.
Mr.. Van zandts resolution, intro
duced at former meeting, for the
drafting OF an ordinance creating the
office of city weigher was lost.
The following communication was re-
oeived from the mayor
Fort Worth, Tex, Feb, 8. 1870
the Honorable City Council of Fort
Worth. TeN.-Gentlemen: In obedience
to the instructions given me at the last
meeting OF your honorable body to ad
vcrtise In such financial papers as
shall deem eXpedlent for the purchase
OF bonds for our sinking funds, have
forwarded a copy OF the resolution to
our fiscal agents in New York. request
ing them to select such advertising
mediums as would in their judgment
reach the holders OF the city bonds
with the least expense. The action Of
the council in restricting the purchase
Of per cent bonds nj par win not, in
my Judgment, result in the investment
of our entire sinking fund Mt an early
day. Orders for the investment of
these funds were made early in Decem-
Der last Two months have elapsed
and only $4,000 OF bonds have been Of
fered and purchased. / do not believe
the interests Of the city will be con-
served by restricting our purchases to
per cent Mt par. 1t can make no ma
terlal difference from pecuniary
standpoint whether the js are pur-
chased at par or the 6s and rs Mt a
price equal to 5s AT par. When 6s are
offered on a basis Of 8 per cent bonds
at par, and are declined, IL will be cal
culated to arouse n suspicion in the
mind OF the holder that there is some
thing wrong with the particular issue
which We decline to purchase.
| From u financial standpoint. H. can
make no difference whether we buy g
/ per cent bonds at par or 6s at 1906 at
which some have been offered. a G
.
l city SIS per cent interest. This 5-S
1 per cent on the $4,000 would amount to
1 Si9S.75 per annum. and during the life
[ of the bond Uhirty years. to Sl4Sl2 so.
II is certainly the desire of the coun-
/ ell to so manage its sinking funds as to
Z give the city the best standing in the
I financial world and TO obtain the best
results for the city. 1t is not good poll
/ ey TO give any one issue of bonds pref
erence over any other issue, or even
] by implication TO discredit any raItiou-
I lar issue.
l have. therefore, respectfully to rec
ommend that your mayor and financial
committee be auth lrlzed TO purchase
for the sinking funds any OF the bonds
Of the city that may be offered, at u
price that will yield the city or more
per cent interest per annum on tho
Investment.
Yours respectfully,
p. u. PADDOCK, Mayor
II was decided, by resolution. to
adopt the mayors suggestion, after a
short discussion.
The mayor also submitted the follow
ing;
ITO the Honorable City Council of Fort
Worth. Texas;
Fort Worth, Tex, Feb, 5, 1851 re-
greet to announce that the management
OF the Office Of the secretary Of the CITY
waterworks has not been such MS Ia
.s.N