Evening journal., 1900-05-14
LETTERS FROM THE PEOPLE
High School MuddIe
LdItor Of EYenlng Journal.


to the Board of Public Education.
Three of the most prominent. sue
cessful. best-known and most public
spirited members of New Castle county
bar say that the money necessary toll
complete the new High School building
can be borrowed legally as hereinafter
eNplained. They can demonstrate that
TO the bankers and lawyers
After the Archie S. Reed and Brother
i Company received a fair hint by hav-
ing the last November instalment Of
eighty per cent. of their months out
Il lay paid In note of the board, and a
second warning by the non-payment of
the February instalment, leaving them
n Win an Investment and financial as
set In the new High School building
Of about thirty thousand dollars. nearly
twelve thousand OF which was yOlun-
tdrily reached to get the building suf-
hciently advanced to have Ii in the
shape safest TO avoid detriment from
the probable compulsory suspension BY
the boards lack OF funds, they found
the building In a logically mechanical
position. where additional work could
not be done without extraordinary det-
riment by delay, unless the sum OF
sixty thousand dollars, necessary to
complete the building. was available
! When completed the property will have
; cost two hundred and fifty thousand
dollars, and owing to rise OF cost OF
material It would az present take three
: hundred and fifty thousand dollars to
J buy Il.
lt takes ninety-nve thousand dollars
at least TO complete the building and
! pay for it, and that is the smallest sum
that business wisdom can counsel bOr-
rowing, for eight reasons.
First, Il Is as easy and quick to bor-
row ninety-fve thousand dollars as
fifty thousand.
Second, The Identical security that
would be backed up against further
borrowing would be given for the
e smaller sum as for the lcrger, for
5 which II is good, sufficient ana instant
D ly commanding security.
d Third. Is there a Wllmingtonian
that Will advise the board that It is
f wise to finish the building with a fifty
, thousand dollars that will destroy their
ability to Immediately raise the forty
q five thousand dollars necessary to be
}. paid before they can occupy t.?
Fourth. Delaware state law makes
the contracting builders lien a ntsl
mortgage Of about thirty thcAand
+. dollars en- the property In which the
\ board has invested about one hundred
thousand dollars, which Is good secur.
ity to the contractors for lawful inter
est OF six per cent per annum sine,
W last February, plus any special damage
n to the building or their business by rea
i son Of the boards violation of its con
m tract, Notwithstanding they require,
h the double security OF a heavy bono
'r and the hold-hack of twenty per cent
a. for the completion OF the work.
In Fifth What difference Is there II
,e principle, equity on moral science
,n whether the property Is fixed to b.
e. legal security to the same party TO
We ninety-five thousand dollars or thlrt
n, thousand, as It now Is. there being
d. difference In the mere matter Of forr
ed of adding sons legal papers and non
IA whatever In practical result2
A. Sixth: Is II better TO have one hun
dred and thirty thosand dollars pre-
in ducing no value or benefit. and cost
ne ing them at least eighteen hundred dol
OF lars per annum with the far more ser
ig lous public loss and injury of leavin
rn hundreds Of children without schoolin
e. after the first Monday or September
or handling their business so that IN
ne whole investment becomes productiv
u, Of promoting public and popular inter
os ests Of value too great to be calculate
he In money?
by Seventh: The board can withou
el waiting for any additional legislativ
te authority put twenty thousand dollar
p, per year into building investments an
.e. pay on the debt in iive years or the
nj can get authority for the whole amour
ne at the next legislative session.
e, Eighth The board can deed th
Dn property TO the A. S. Reed & Brothe
Is Company, have Il Immediately CON
OF pleted and then forthwith occupies
The company can give a good and sui
iicent document of the nature, solemn
lty and binding force OF deed wher,
by the court would II necessary con
pei them at their own expense 10 Civ
IN to the board a good and sufficient wal
IL ranty deed OF a title in fee simple
the Board of the property free of a
membranes Should the A. s. Rec
IT, & Brother Company mortgage n
Mt property, their obligatory instrumeI
H. to the board and the mortagagee's oil
'ts ligatory instrument to said compan
To can cover that, or Il could be fixed thu
the boards payments could be mad
n directly to the mortgage. and he cou
a. make an obligatory instrument thi
IA would prevent his refusing pay offer'
at any time.The reciprocal papers can
made so that the board can have the
property In fee simple and perfect tit
Just as soon as they can pay for !
The deeds could be held as collater
in security and a sealed instrument r
=" conveying the title and fee simple in
deed or guaranteeing the redelivery
the deed as soon as the amount Is pal
10 could be made.
HE with admiration for the publ
ar spirited. enterprislng and liberal cha
on actor OF the Board OF Public Educatio
red we trust they must see how unnece
red sary it is to plan, prolong and magni
led an acute trouble into a renewed an
ere intensified public distress by borro'
hly ing only fifty thousand dollars. doil
injustice to our fellow citizens WI
lie have directly and indirectly homo
an ed and trusted them by their takil
in up their money and by their contrac
ME and creating partisan, political disse
fee efona in tho wards af fiitiirp election