The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-04-10
TOO VALUABLE TO DISPOSE OF.
AID. KROUsKOFF OPPOSED TO
TRANSFER OF GROUND RENTS.

AID. KROUsKOFF OPPOSED TO
TRANSFER OF GROUND RENTS.
Was Aware of the Nafure of the As
set when lie Introduced His Reso-
luton to Extend the Time for Set
thing at a Discount of - Per Cent.
He Does Not Favor the Idea of
Transferring the Debt to Private
Parties - Ex-AIdermnn FnIIignnt
Recalls His Ground Rent Fight.
Was Promised Then That the Re
ceipts From This source should
BE Devoted to House Drainage.
The city's ground rent asset will very
likely cause some discussion in Council
before the disposition to be made of it is
finally settled.
Alderman Krouskoff holds that the most
important work in which the city is now
engaged is the opening of the streets.
House drainage and street paving can
wait he says. They will cost no more
another year or the year after then they
will this year. while land for opening
streets is increasing in value each year.
rent lot owners to make their titles fee
simple, he holds that the city is the gamer
when the money is used for opening
streets, as property is thereby brought I'M
der taxation. which will in the course of a
few years return the city larger revenue
than the present interest on the ground
rent balances.
Alderman Krouskoff was disappointed
that the Council did moi pass the resolu-
ton to extend the time to the ground rent
lot owners to settle with the city at % per
cent. discount
The fact that the grounds are an avail
able asset is not such a new thing" he
said. II was aware of it, and so we're
some of the other aldermen. I knew
this when introduced the resolution to
extend the time. The first resolution Of
fering a discount of Is per cent. TO ground
rent lot owners to settle with the city
passed unanimously. and l had no reason
to expect anything but that this resolu-
ton would pass also. The only reason the
resolution was not adopted at the previ-
Gus meeting was because the time had not
then expired. AS it was understood among
members of the board that
the time would be extended
parties who desired to settle, but who had
taxes and other liabilities to meet were
assured that the time would be extended.
When an alderman gives an assurance of
this kind in good faith, think he should
be protected in it by the board"
Alderman Krouskoff said it is not i'm
all RI ha
ground rent lot owners to settle may yet
be extended by the city.
The number that would take advantage
of this offer" he said, sis not large, and
the city's assets would not be greatly de-
preciated thereby. Besides the money
would be used in a good purpose in open
ing streets. There are more things than
one to be considered in connection with
realizing on this ground rent asset. The
debtors should have some say in the mat
ter. 1t is of considerable inn
portance to the debtor sometimes
who his creditor is. While it might really
make no difference, the holders of the
ground rent lots would view any change
with apprehension. They could expect no
favors in settling then. and would nave
to pay in full. l. for one, believe that the
city should deal favoraby with our own
people. If a discount is allowed our own
remains here in the city AS to these pub
lie improvements, l don't believe in I'M
dertaking to do everything at once. Let
us do one thing at a time, and leave some
thing for somebody else to do"
DR.. l.. A. Falllgant, who had a great
deal to do with making the ground rents
an available asset of the city, said yester-
day that he had always considered the
ground rents an available asset of
hA
thought of taking advantage of it
by disposing of it to a
private party as seems to be Mayor Mel
drim's idea. The original total of the bal
ance due upon the ground rent lots was
nearly 100000. This has been reduced
about one-half by the owner converting
the lots to fee simple at discounts rang
Ing from 10 to 30 per cent, large amount
having been brought in at the latter figure
and used in paying for the new water
works
1T was due to my opposition" said
Dr. Failigant, that the entire amount
was not settled a a discount of so per
cent, IN which case the money would have
been paid in and spent long ago, and the
city would now be lacking this valuable
asset. I always considered the ground
rent balances as worth par and was I'M
willing TO allow any greater discount than
10 per cent. When the ground rent cues
ton was decided in the city's favor and
discount was offered for settlement. I was
promised that the amounts received from
this source should be devoted to house
drainage, but instead they were diverted
TO other purposes, among them the water
works. If the remainder of the ground
rent balances is applied to the construc-
ton of system of house drainage it will
only be carrying out my original idea"
HUNTED EASTER EGGS.