Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-12-27

ter OF the United otdttS treasury,
which registration the Secretary Of the
Treasury shall make such prfvifsion as may
be necessary.
CommissiOners to Estimate.
1.-The Commissioners Of the District of
Columbia shall submit to the Secretary of
the Treasury an estimate of the amount to
be expended under the provisions OF this
act prior to the beginning Of each and
every fiscal year until the work is COM
pleted. and the Secretary Of the Treasury
shall notify the treasurer of 1.-THE United
States of the amount required to meet the
proportion of expenditures contributable
from the revenues of the District of Co
lUmbia during the next fiscal year. and the
treasurer of the United States shall there
Upon issue and sell sufficient bonds au-
thorized by this act to provide the re-
CURED sum. The bonds shall be sold at
rot less than their par value to the most
favorable bidder or bidders, after the pro-
posed sale has been advertised by ten
consecutive secular insertions in two daily
papers in Washington and two daily papers
in New York. the bids to be opened under
such regulations as may be prescribed by
the Secretary of the Treasury, and the
award to be subject to his approval. The
proceeds thereof shall be deposited to the
credit of the general revenues of the Dis
tr1ct of Columbia and the bonds hereby au-
thorized shall be used for no other purpose
whatsoever.
ANY of the bonds hereby authorized
may be called in for payment after the
expiration Of five years from the date of
their issue by the treasurer Of the United
States. at his discretion. The last of the
said bonds originally issued during the first
fiscal year and their substitutes shall be
first called in. the bonds issued next pre-
ceding last during the same fiscal year
shall next be called, and this order of pay
ment shall be followed until all Of the bonds
issued during the first fiscal year shall have
been paid. This rule shall apply In the
redemption of bonds issued during each
fiscal year thereafter.
Notice of Payment.
"A notice of the time On which payment
will be made shall be mailed to the re-
corded address of the owners or holders of
the bonds selected to be paid and interest
on the particular bonds so selected at any
time to be paid shall cease at the expira-
ton of thirty days from the date of such
notice.
The treasurer of the United States az
eX-ofticio commissioner of the sinking fund
of the District of Columbia, Is authorized
to invest prior to the date upon which the
bonds issued under this act can be called
any money provided for a sinking fund on
this loan, In such Understanding securities
as may be approved by the Secretary of
the Treasury.
The Commissioners of the District of Co
mmbia are hereby authorized and directed
to provide for the payment of all the ex-
pcnses connected with the engraving and
issue of the above bonds
Features Explained.
Mr.. Keenan,, in reading the bill, eX-
planned its features, stating that the pro-
visions as to the bonds themselves follow
the ideas and practice of the Treasury De-
partment. The life of the bonds the COM
mittee would leave to the judgment Of the
Com misSionerc Rpnlvipp tO If
Commissioner Ross, he stated that the COM
mittee is of the opinion that 3 per cent IS
the lowest rate of interest at which the
bonds can be floated. To Commissioner
Macfarland, who inquired to- the COM
mittee's ideas to bridges, Mr.. keenan,
said a pubic bridge across the Potomac is
favored, a memorial bridge and several
across Rock creek.
Captain Beach, the Engineer Commits
sioner said he would have 1t appear upon
the records of the hearing that the Com
missioners agree that it is inadvisable to
take up any bill on this subject or take
definite action with regard to a general loan
without having first consulted the appro
priatiOns committees of Congress, and that
without action Of this kind it would be
premature on the part of the Commissioners
to consider this matter.
Commissioner Macfdriand said 1t appears
that every citizen Of the District favors the
completion of the general plan of sewage
disposal, of the water supply and the cree
other improvements suggested that would
be matter for future consideration. He
added that Congress may adopt the first
of the plans suggested by the Commits
siOners in their last annual report, an adj
vance of the necessary funds by the United
States as a loan, stating that Congress
must, of course, be consulted in the matter.
Mr.. Lambert explained that the bill pre-
scented is the result Of long and careful con-
sderation by the duly appointed represen-
tatives Of great number Of the citizens of
the District, and it was presented. he added.
not with the belief or unalterable purpose
Of these people that 1t shall be approved
by the Commissioners in its entirety, but
merely as a suggestion, as a starting point.
Not Asked to Commit Themselves.
The Commissioners are not asked, he
stated. to commit themselves to the sup
port of this bill, but they are asked to as
sist in perfecting a measure which Will
be satisfactory not only to them and the
people Of the District, but also to the Con-
gress If there is any provision in it which
the Commissioners may deem Objectionable
or unwiSe, they will be expected to so state,
after their careful consideration of the pro-
posed measure, that all may come together
upon it. The bill is favored by the Bust
ness Mems Association. said Mr.. Lambert.
and he Is Of the opinion that the board OF
trade Will favor 1t or one very similar to 1t.
Mr. Shoemaker expressed himself In
similar manner, and Commissioner Mac
farland, In assuring the delegation that
the bill will receive the careful considera-
ton of the board Of Commissioners, and
the committee will be duly advised, said
the suggested coming together Of the Com
missioners and the citizens Of the District
in this matter is, in his opinion, the very
way in which the people of the District and
the municipal executive officers should act
in all matters. He believes, he remarked,
in such coming together, and he told the
gentlemen that in his judgment they had
presented the matter in the only proper
way The whole community, said the Com
missioner, seems to favor in a general way
the proposed bond issue, and only by act
ing together can the people or the Com
missioners hope for success in the matter.
FUNERAL SERVICES HELD.