Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1900-01-16

seven hundred and thirty.six dollars
and eighty-seven cents will pay interest
at 4 per cent Of on a debt of S2tS,421.15,
which sun is less than % per cent of
the total debt of $500, 051. 2T of Santa Fe
county, or in exact figures .2275.
That the amount of Indebtedness upon
which interest at 4 per cent can be paid
as above computed, upon a basis of AZ
per cent tax for the county outside the
city and a g per cent tax for Santa Fe
| city may be too low. il possible. but that
the computation upon a basis of 5 per
! cent tax for the county generally. and
a 6H per cent tax for Santa Ee city is
too high and cannot be paid without the
disastrous effects heretofore indicated
seems to me certain. Vague theories as
to a more efficient administration and
thereby increasing the product in cash
of tax levies seem to me to be too vision
airy to be made the basis of figures for a
fair compromise of our county debt: and
ii they might be considered for that
purpose, they have already been dk-
counted for some years to come in the
above statement, which assumes that
.G5l2 of any annual tax levy in this
county can be collected. The average
annual percentage Of collections to levy
of taxation in this county for the nine
years 1889 to 1893 is as above stated
but 30, and it will, in my judgment be
conclusive evidence of economy and re-
form in the administration of the affairs
of Santa Fe county If our percentage of
collections for the next ten years shall
equal the .6512 upon which the above
calculation is based. More than that.
the above computations do not provide
for any sinking fund or other source
with which to a in the future the
principal or any part thereof of the
debt of this county. That is left wholly
to be accomplished by the hoped-for
proshgrity which may come to II coun-
ty, if Wy compromise of its debts, its
present discouraging financial condition
can be SO amended that capital may be
attracted to and invested within its
limits.
Making due allowance for h%oped-for
financial improvements in Santa Fe
county affairs, the utmost which in my
opinion, this county can do in offering a
compromise of its Indebtedness, which t
can expect to carry out in good faith, $
to offer payment on it's debt of a per-
centage midway between the amounts
shown by the two computations above
made of s per cent and 90 per cent. or in
round numbers, as the extreme limit, to
offer to compromise upon the basis of
the payment OF Is per cent of the pres
ent Indebtedness, with a reduction OF
the rate of interest to 4 per cent per
annum.
EUGENE A. FIsKE.
Member Committee.
| cOucur in the above report.
MARCHING GARCIA.
On the matter of the petition of j. A.
Elston to be recognized as the owner
and holder of certain coupons attached
to refunding bonds numbers SOB, 5O4,
sos, SOC, 500, el5 and $50, under the act
OF February Goth A. d. 1891. amounting
to the face value of $219.5o it appearing
to the board that the same have been
lost and that the said Elston is the real
owner Of the same, and he having given
an indemnifying bond to Santa Fe coun-
ty to hold 1T harmless for any payments
that may have been made on said
coupons, the prayer of the said Elston is
granted and he is recognized as the
owner and holder of said coupons and
to the payment there of when
any payments shall be made the said
bond is ordered filed for the benefit of
said county.
The board adjourned until January 2,
1900.
c. w. DUDRow,
Chairman.
.TANAsIo ROMERO.
Clerk.