The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-10-28
THE SINKING FUNDS.
Some Further Facts Concerning the
Requirements.

Tuesday morning The Herald gave
some figures relative to the bond is
sues and the amounts required by or
dinance to be set aside to pay inter
est and create sinking funds to take
up the bonds. The Herald's matter
was prepared after a careful inyesti-
CATION by an accountant, who put the
matter In concise shape The matter
occupied about half a column. The
Standard took the position yesterday
that the figures were not worthy of
consideration and then spent four COL
umns in trying to disprove them. 1t
calls The Herald to task for emitting
one whole line from a quotation taken
from city ordinance, this line being.
for the payment of interest" The
HeraId's point was that the money had
to be set aside. What matters it in this
controversy why it has to be set aside?
What is the use of clubbing over
words? The people of Ogden must set
these sums aside to meet their debts.
Consequently they must make tax lev
les accordingly.
The following facts We're prepared by
the same correspondent who prepared
the other matter Let the Standard
controvert them if it can:
The Standard prints the ordinances
providing for setting aside the sums
of SIS 600, $4,000 and $4,000 as a sink
ing fund to pay the principal sums of
the $500, 900 bonds as they mature from
1908 to 1913 Even if there We're no or
dinances providing for such sinking
fund, would it not be only a plain BUSH
ness proposition to lay aside an amount
each year sufficient to pay off the bonds
as they mature? Would it not be a
wiser plan to pay the proportional part
of the total sum each year than to pay
the half million dollars from 1903 to
1913? Wouldn't it be easier to pay it
in that way than to pay such large
sums all at once?
For the first issue of bonds maturing
in ten years there should be a sum of
$4,000 set aside as a sinking fund.
For the second series of $4,000 sewer
bonds there should be set aside the sum
of Sd, 166 each year to meet the payment
when il becomes due.
For the second 800, 600 bonds there
should be set aside 1882 each year.
For the $4,000 Improvement bonds
there should be $3,571 set aside each
year,
For the two other issues of $4,000
each there should be set aside the sum
of S7,142 each year.
For the third 100000 bond issue OF
| 1898 there should be set aside the sum
of $6,666 making in all, within a few
hundred dollars of $4,000 the sinking
fund required by the ordinances of this
| city. The amounts given as to other
reductions in the estimates were those
! furnished by the Standard, so it can
not complain.
The Standard now places itself upor
record as requiring 100000 to run The
! city government. Now be honest
Standard and tell US what you arc
! fighting for?
| Are you ashamed of your course ii
advocating the election of goldbugs
when you claim to be the pioneer sill
yer paper of Utah? Is the few dollars
| of reduction You now claim can bt
! made in the running expenses of thi!
| city of more Importance than the sill
yer issue? Why don't you call tht
platform the Republican platform
! instead of our PLATFORM" Have yol
a copyright on platforms, and do yol
own the Republican party of OgdeI
City? Do you own the Republican can
didates, and are you proud of the gold
bugs among them? Are you also PROUD
of that part of the Republican plat
form which says that Republicanisn
and prosperity are synonymous?