The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-28
DEBTS OF THE SUBURBS
THE ANNEXATION WILL COS rNDl-
ANAPoLIs OVER sI3o,ooo,
For This Amount Owed by Bright
wood. HaugLviile and West Indian
npoIis Must BE Assumed.

Ten days after the publication of the an
nexation ordinances tomorrow the suburbs
of West Indianapolis. Brlghtwood. Haugh-
vile and Mount Jackson will be legally a
part OF the city. Many of the ~suburbanites
who are opposed TO annexatiCn have been
trying to impress their ~neighbors or any
one VINO will listen 10 them with remark
able statements regarding the immense
benefits the city will derive from the TAX
Ing in of their particular suburb. Many al
lege that the city will be the only gamer
by the measure. IL is safe TO venture that
but a small portion of this element IS well
informed as 10 the Indebtedness of the
suburb in which they live; nor do they
realize the size of the suburban debt that
will be assumed by the city when ii makes
the suburbs a part OF itself. The aggre-
gate of this debt accumulated up 10 yes
terday. including bonded Indebtedness and
such outstanding warrants as the compiler
of this record was able TO learn of. amounts
10 s131. 460.sS. This rather disproves the
theory that the city has the best part OF
the bargain. but instead. as one of the
progressive citizens in one of the suburbs
remarked yesterday, the suburbs were get
ting the best part OF the deal and the city
was getting virtually nothing but an in
crease in it's population.
In West Indianapolis the bonded indebted
mes is $50. Geo. The payment of these out
standing bonds Will extend over a period OF
twenty years, according TO the agreement
made at the time of their sale. Council
man Mccain. OF this suburb, has made a
painstaking search into the bond question.
and the above result announced by him mas
been verified through the suburbs clerk
and treasurer. The following is Mr.. Nc
CaiE's record. showing IN what year
the various amounts of the bonded in
debtedness come due: In 1897, $1,000; in 1898.
y, 100; in 1888, 5000; 1900, 1900; 1901. s.. Zoo;
1866, s., O00: 1909, $4,000; 1905, $1,000; 1903. Sli.-
600: 1919. 5000: lgl1. $1,000; 1912. $500; 1913.
s1.00D, making "a total of $50. 900. About $40
900 OF this amount is represented by four
brick schoolhousss. $4,000 by the City Han
and the remainder has been accumulated
In equipping the fire department, getting
fire protection and electric lights and in
issued besrine interest at s per cent but
the premiums paid on them Will in many
cases figure the interest down to 3 or 4
per cent. According to the report of the
auditing committee which investigated the
books of the suburbs clerk and treasurer,
and whose report was made on the 10Th of
this month. there was a balance or Sl03-S0
IN the treasury. Against this amount
there were warrants outstanding
amounting t. SS73.97. and this
amount was H. eased by S973.96 by the
Council on Friday night. which allowed
bills aggregating the above figure. This
brings the total of outstanding warrants up
TO ~s1,s47.9I. and deducting s1O3.S0. the bal
ance i'm the treasury, from this still leaves
warrants outstanding amounting TO 81.
The total OF the bonded Indebtedness and
outstanding warrants against West Indian
apolis is $S1. 744.11.
THE H~AUGHVILLE DEBT.
The debt OF Haughville ranks next in size.
the Indebtedness being $31. 971.37. with a bal
ance in the treasury against it of s., go 10.
which. when deducted from the amount
outstanding. still leaves s29. 35l.22. The
statement of H~aughville's indebtedness,
which follows. was secured from Thomas
H. Wiles. town clerk for this suburb. Be
fore giving Mr.. Wiles's table. il is well to
state that the committee which investi-
gated the towns books last July found a
discrepancy of S1I6.33 in the report of the
board issued April q. 1896. and those who
were responsible for this amount. which is
at the time 70 MAKE ~ a ane reP Tbc promtse .
the auditing committee showed a bonded
Indebtedness OF $4,000 on the 9th of April,
1S9s. OF this amount $500 was Cancelled.
which left a remainder of $24. goo bonded in
debtedness- a table follows:
Outstanding warrants in all funds. $751; 81
Outstanding bonded Indebtedness
Outstanding Indebtedness on school,
houses q, 900. 90
Total Indebtedness .$31, 81. 81
Balance in general fund... 2S5 81
balance in fire sinking fund........ 1.67IS
Balance in schoolhouse bond fund.-. 563. 20
1926 IS
Road fund overdrawn.............. go
Balance in s.. go Il
The balance in tho froootrr r-ro~ l.
Quoted from the amount of Indebtedness.
leaves a debt of 500. 351. %.
WHAT BRIGHTWOOD OWES.
The m regarding the indebted
ness of B~rightwcod was secured from ]. ].
Valdenaire. town clerk for that suburb. and
the condition OF the treasury was ascer-
tanned from Mr.. Joseph Cook, the treas
urer. The bonded indebtedness of Bright
wood is $4,000. all OF which was secured
TO fund the debt incurred by constructing
the water works system and plant. The
bonds were sold to Seasongood & Meyer, of
CINCINNATI, u. who paid a premium of
H.771-1 for them. They bear interest at {
per cent. Were issued i'm February, 1885. and
are payable as follows: Four thousand dol
lars In 1900. $4,000 in 1905. 5000 in 1910 and
5000 in 1915.
The outstanding warrants are as follows.
S~tillinger & Lee. contractors.......... $4,000
borrowed from county treasurer. loo. O0
BiIs allowed by board at last meet
ing 49, So
Total 70 961 "
Mr.. Naldinaire said. when asked if this
was all or the warrants still unpaid. that
some mat were issued might have been
held out but that he did not know anything
apout mat part Of the business. The out
stdnulng warrant debt. when added TO the
ponded Indebtedness. amounts TO 500. PSI. 81
however, the loan of 81. 500. made from fhe
county treasurer. will DE deducted from the
SUBURBS July installment of taxes. Mr..
Cook. the treasurer. said that the 81 "a;
Wnlch mad been borrowed had also been
expended and that the treasury was ernntv
at the present time. In addition TO thiS
may be added that the debt is still being
increased by the hauling of gravel nno5
the streets. which still continues.
Up
West Indiana polls MAY HIVE Exc..,-
ed Ixxn-DoE-Ca-4