The record-union., 1898-02-12

Sduitapiy tiie DufQen or the projects
which have received the attention of the
chamber lately suburban railroad and
a beet sugar factory would be accom-
plished facts before the end of the
year without relying wholly upon out
side capital
RESOLUTION OF THANKS
Chairman Schaw OF the Committee
on Commerce spoke as follows:
Mr.. Chairman: Now that the new
ofhceB have taken charge of this cham
Der, 1t is fitting that a few words be
said Of the retiring President, Joseph
Steffens
L have had opportunities during the
past fifteen or twenty years of knowing
great deal OF what may be termed
Mr.. Steffens' semi-public life and his
connection with the commercial inter-
ests of this city.
Some years ago Board of Trade
was organized here. Its birth and life
was largely due to the efforts of Mr..
Steffens and I think he was it's presid-
ing officer during the whole of its exist
ence
While the main object of this Board
OF Trade was the advancement of COM
mercial and industrial pursuits, yet it
was broad in its views and nearly all
questions Of public interest were fully
discussed and carefully analyzed. Mr.
Steffens was always ready to give his
time and ability to advance any meas
ure for the benefit of our city, county
or State, and many of the papers he
read before the Sacramento Board of
Trade advocated measures that we are
fiy1y I'D
Something over two years ago, this
Chamber of Commerce was established
and Joseph Steffens was Immediately
and unanimously selected as it's Pres
ident and he has ably filled the Office
until tonight, and I desire to say what
ever success may be claimed for the
Chamber of Commerce it is largely due
to the indefatigable industry, busi-
ness sagacity, and prudent care of its
President. During it's brief existence
vast amount of bushes has come be-
fore us-all of which has received care
full and painstaking treatment Our
President has labored faithfully to
bring all matter coming before US to a
successful conclusion; and While all
subjects treated by US have not termi-
mated as we hoped they would, there is
a satisfaction in knowing we tried our
best.
While we change Presidents tonight,
it is not because we need or want a
better, but we were forced to admit
the justice of Mr.. Steffens' claim to be
given rest. He has, while acting in
the capacities 1 have named and in
others, earned for himself a reputation
as public spirited citizen that he may
Well be proud of. Such services as he
has rendered, Sacramento cannot be
substantially recognized because they
are beyond price. We can, however,
pass a vote of thanks to our retiring
President, which 1 now propose.
MAYOR LANDS FIGURES.
Mayor Land was introduced, and, af-
ter brief prologue, read figures re-
the city to be practically out of debt,
as there is enough money in the re-
demption fund and on hand to pay
nearly all the outstanding bonds if they
could be got hold of at par. He said
that if the commissioners would float
the $137 900 of levee and sewer bonds,
the others could be paid off and the
Indebtedness wiped out very soon. The
water receipts and licenses would be 50
large that the taxes would be reduced
to 81 q. The city, however, needs sew
eral things. First, 1t needs water
main running on street to Twenty
fourth, and costing about $125, 900. The
eastern part of the city needs a new
system of sewers, and the city needs Il
new City Hall, which a few years ago
would have cost nearly S250,0 but
can now be built for $4,000 These
Improvements could be made and still
run the city's tax down to 81 %, and
after five years to 81 20. If his ideas
were carried out the commissioners
would sell their bonds and close out
the commission. The % per cent now
laid aside for the sinking fund amounts
to $4,000, including the licenses. if
the commission keeps on for five years
collecting the so per cent at the end
of that time we would have on hand
S250,O00, for which we would have no
use. The total amount of debt at pres
ent Is about $237, 600
The figures presented by the Mayor
are as follows:
Outstanding Indebtedness)
1888 bonds heldS by outsiders SPOT 209
1S93 bonds held by outsiders. .... 1872, 600
1893 bonds held by outsiders ~ 32 100
1909 bonds held by outsiders. ...... 80 40J