The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1899-12-29

FINANCES !
Council Meets to Hear a Report or
Their Condition.
A DETAILED STATEMENT GIVEN
The Committee on Finance shows That the
Impending Liabilities Are Heavy,
But That Resources Will Soon
be at Hand TO Meet
Them

There was special meeting Of the Borough
Council last night TO consider the financial
affairs of the Borough Council. bare
quorum Of members were ia attendance aud
the business transacted was kept within the
bounds Of the call. The session was brief
one The members present were Messrs.
Mcclure, Hand, Tracey, Brennan, Murphy,
Harkins Niswenter and Bell
Councilman Hand, chairman Of the finance
committee, presented a lengthy report show
ing that the financial condition of the bor-
ough had been investigated, aud setting
forth the probable amount required to meet
obligations on January lst 1900.
The report set forth ION the rst Of
January we will require $1,000 for the re.
dempton of water bonds aud on the same
date we will require for interest on SOS. 900
worth of borough bonds $500. On the same
date, for interest on water bonds, 1897. so.
making a total against January 1st, 1900.
IS, s77 so As an offset to the above amount
we expect to get from Mr. Bell, water super.
ntendent, $1,000 and from Tax Receiver
Burke $50, 0OO Mr.. Burke has paid on his
1899 duplicate, 49, 500, and tn would leave
balance on his 90. day settlement Of $40. 500
Besides meeting the interest and redemp-
tiOn of bonds there are due temporary loans
to the amount of $4,000 that will come due
during the month of January, as follows /:
January 3rd, 1900, $4,000 January llth,
81 900 January sth, 5000 January sth,
SO OOO making total of temporary loans
Sl2, 900.
There is due for redemption of bonds and
interest on water and borough bonds. Ss,s77.-
so We expect Mr.. Burke to pay $40 800 Oh
his go day settlement and from Mr.. Bell. by
the first meeting IN January. $1,000, which
would make S11 500. Deducting from this
IS, s77 80 for interest and redemption leaves
S2 622 80 for current expenses. The com
mittee recommends the renewal of the four
temporary loans coming due in the month of
January, 1900.
Some few months ago there was a com
municstion read here from the Taxpsyers
Association, warning us that we should not
borrow any money, only what we would be
able to pay within the year That is all very
well if the money owed to this borough was
collected within the year. The finance com
mittee, when making their appropriations,
figure the resources on all balances and, ae-
cording as the money comes in, pay
the indebtedness There is due on
Mr.. Burkes 1897 duplicate, 81 S51. .OS {;
and on his 1895 duplicate 81 OIL OIL :
anu II hiIs DuIAe pays according TO
promise, $50, 900 on his 1899 duplicate, there
will be a balance on his 1899 duplicate of
Sl009 53 and his three duplicates, s22 9l6.-
81 So, by this statement, you can see that
the borough could be in pretty good circum-
stances if this money was all paid within the
year. The borough would have no need to
borrow the outstanding temporary loans due
$4,000. Of Mr.. Burke's three duplicates
two of them at least ought to be paid within
the year. Deduct S12, 900 from $22, 9l6 22 and
it will leave a balance in favor of the Dor.
ough of Sl0,9l6 So Besides the above Mr..
| Burke collected at the colieries S. .6Be 81
The borough's share, we think, will be at
least 81 500 Besides the above there is due
on Mr.. Scanlsn's 1895 and 1895 duplicates
S2S, 900 which, we think, will be collected in
| 1900 Adding this to the total resources in
| sight which the borough ought to have it
would leave the borough in pretty good
financial condition
After the reading of the report it was de-
cided by Council that the 81, 200 note due on
January 3rd, 1900, and one of the SO 900
notes drawn on October sth, 1899, be re-
newed for 80 days. Mr.. Bell would not in
clude the second note for So 1000 drawn on
October sth, 1899, because he objected to il at
the time it was drawn, on the ground that it
was for permanent improvements, street
paving. Mr.. Neiswenter then moved that
this note be renewed for 80 days, aud it was
| so decided