The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-09-22

l Ny the OF stOn0s report
ed at Yesterdays Meeting OF b
board of Audit aud Ffnance-Aetien
as to the Pest House Well Likely be
Reconsfdered
The most important feature OF yes.er-
day afternoons meeting Of the board
OF audit and finance, which was one
of the regular semi-monthly sessions.
was the report Of the chairman, Mr..
H. c. Mcqueen, about the refundment
of s148, 900 of the old 5 per cent. bonds
and the issuance in lieu thereof a like
amount of 4 per cent, as allowed by a
special act of the last general assembly.
ratified February 29th-
In accordance with this act the board
about last July called in $4,000 Of D
per cent. bonds due January J. 1917,
and issued $148, 900 Of 4 per cent bonds,
which were purchased at auction by
Messrs. E. H. Rollins & Sons
The object of the transaction was 10
save the city money, and the chalrmans
report shows that the city will save
over s21 900.
The report, which was adopted, is as
follows:
One hundred and fo~rty-eight thou
sand dollars of tine 1912, 5 per cent
bonds have been refunded into 4 per
cent thirty year coupon bonds, dated
July LIST, 1899. This leaves $4,000 or
the old bonds unpaid and we have so
far failed to locate all Of them The
! interest, however, was stopped uly !
{ by advertisement Messrs. F. H. Roll
Inns & Sons, who bought the new bonds,
being DESTROYS of finishing the trans
action, | proposed to them to close It
up with the s14S,0 900 delivered to them,
to which they agreed We received
from the sale of the S148, 600 new bonds
a $3.50, 17O.67, which includede the pre-
mium at the rate Of 81, 200 for the Sl5O,-
900 bonds. So there is on hand S2,17O.-
81 and S 1000 of the old bonds unpaid
| suggest that they be paid out Of this
premium and that the $17O.67 be turn
ed into the sinking fund. l have here
So, 900 of the new bonds, NOs l49 and
$50, which can be destroyed, reducing
the bonded debt $1,000 and the annual
interest from July LIST will be Sl,50O
less. The whole cost of refunding the
$50, 900 was $636.11, including advertis-
ing, printing, procuring and furnishing
to proposed buyers certified copies OF
the refunding act, engraving the new
bonds and commissions for taking up
the old bonds which had to he done be-
fore we could deliver and get the money
for the new ones. AS the 5 per cent
bonds would have run until January,
1912, the ~refunding them is a saving TO
J the city of over $21 600"
After hearing the chairman's report
the board looked over the s148,O 900 5
Der cent Old bonds, which were refund
| ed, and burned them. Two OF the new
bonds, Nos. 149 and $50, which had not
been used, were also burned. Their
value was $4,000.
ABOUT THE PEST HOUSE.
The board will NO doubt, reconsider
its action in refusing to concur with
the aldermen in awarding a contract
for building a pest house.
Alderman Handy, of the special COM
mittee appointed by the board of alder
men from among its membership, to
look into the matter Of erecting a pest
house. appeared before the board and
asked that the action taken at their last
meeting disappearing the contract be
reconsidered, and urged upon them the
necessity of Wilmington having a pest
house.
The board did not deem it advisable
to reconsider the matter at This session,
owing to the absence of two of it's mem
bers, but deferred it until some meeting
when all the members are present,
and it lis Thought such a meeting will
be held shortly.
MONEY MATTERS.
Clerk submitted a statement of the
examination Of the books of the treas
urer and tax collector for the month OF
August showing:
Cash on hand August H.. $25, 633 AZ
Receipts month of August. 7,43S.41
Total $50, O71.9O
! Disbursements month Aug. 5 7,583.S4
Bal. to Sept. account ........ 25,4SS.O6
Total s33, OH. 80
Bills were audited and approved as
follows:
Current expenses ........ ......$36S.S
| Commissions of city attorney
for back tax collections. ..... 1872. S2
Total $491. 35
The board adjourned subject to the
call of the chairman. At the meeting
were Mr.. H. G. Mcqueen, chairman, and
Messrs. w. A. Riach and Jesse Wilder.