La Junta tribune., 1899-08-23
.MA.l we eesvso.

bonds to E. H. Rollins & Sons. Of
Denver. an investment company
who are engaged in the business OF
buying and selling municipal Sc
curities, the transfer taking place
on the roth Of the present month
A representative OF this firm made
a proposition to the city council az
a recent meeting to refund the
bonds on fifteen thirty year plan,
and unless they take immediate ac-
ton in the matter the city will have
TO commence providing a sinking
fund for their payment in 1907,
when they become due. The in.
vestn,snt company will probably
dispose OF them in small parcels to
eastern purchasers in the near fu-
ture and in that event it will be an
utter impossibility to refund them
as the bonds contain no optional
clause and are not due until 1907.
The Daily Democrat OF last Sat
urday contained column editorial
on the subject Of refunding the
bonds Of the city water plant. 10
which il was claimed that there
was no necessity for refunding the
bonds at the present time and that
it would be unwise in any event.
1t was asserted nat the proper
thing to do would be to shoulder
the burden as it comes due and be
done with il. OF course the editor
Of the Democrat, T. T. Wall
Street and few others may be 70
well fixed financially that little
matter Of $4,000 is mere ba9a-
telle to them. They would simply
say bring along your old bonds,
and here's your money"
Unfortunately there are others
Of US who are not 20 well 6xed e.
nancially that we can be indifferent
to our creditors or the methods
they propose to pursue. IL is ad-
mitted that il would be . good
thing to pay of the bonds as soou
as possible and stop the interest.
but whether we could do 70 in the
next eight years without working
an intolerable hardship upon small
property owners is quite another
matter. The interests Of the pco-
pie as a whole must be considered
in this bond proposition, and not
the interests Of few individual
millionaires like the editor Of the
Democrat and T. T. Wall Street,
who have money to throw to the
birds.
Taxes were abnormally high last
year, Sso on every 81. 200 valuation
for city purposes alone. snd it will
probably be found necessary to
make levy equally ~ great this
year. Last year . sewer system
was put in, the cost of construc-
tion being paid by the owners Of
abutting property. and adding to
the burden Of taxation, as it in
cluded those who were able to pay
and those who were noe as we'll.
This year new sidewalks and the
building Of new reservoir are in
contemplation. and if the IS mill
levy necessary 10 establish the
FIRST installnent il the bokd sinking
fund il added ii win simply force the
small property ipwnefS to the wall
and make. Il necessary for tl5sn
TO dispose 81 their sinteixsts Il
saefi6ce. II tliis event our
local uiliionaises vot1ld hsvs :
good thing. Mii6 ts&afion always
sssulss u. III, dspst tssiiiati1if I " glrsop-
- values sad lAsys essla ~ -
mp aad holdsis unlil afssr ~ bpnds
sspss .raid - shsS sslI = - Gpsae'
adsanee.
II the pssfunding pspposisisni
nede,h hyahs sipvsstasatp css ~
= faksa, ep i Ill giv6 ~ tera -
y rostua = 49, ~ ~ I ! ~
u,ent1 eeat ~ Deeqeyy ( Syie>qk
woeking : hssdsli9 ~ i.
sssb,s - = bsiia s. !: s