Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1901-01-23
CITY COUNCIL.

slOu OF tDs Olty Oouuch lnrs hihbts luz
volume OF business transacted was not
large, though several important mat
ters were acted on. A resolution to
abolish the Board of Police Commits
sioners was introduced and referred to
the Joint commi' tees on police and gen.
eral laws; an ordinance providing for
the lease Of property at the outlet iocE OF
the Alexandria canal vas recommitted
to the committees on public property
and financs; the report OF the commit
tee on fDance adverse to the pending
Of the cisy's debt at present and re-
port OF the sinking fund commissioners
on the same subject, were adopted, and
an ordinance fixing the rate OF speed
for electric cars at eight miles an hour
was passed. There was large num-
bsr OF spectators without the bar il the
chamber OF the Common Council,
though but few appeared in the lower
board.
BOARD OF ALDERMEN.
No new business was presented 10
the Board of Aldermen, and most of
the two hours and half was spent In
recesses. There was no debate, and
unanimous Concurrence 10 all papers
which came In from the lower board.
COMMON COUNCIL.
The board was called to order shortly
before o'clock. After the minutes
had been read Mr.. Evans rising to a
question ofprivilege defended his course
in reference to his resolution adding
an additional member to the committee
on streets. He denied that his resolu.
ton was offered for personal motives,
He quoted Mr.. Hill's statement in the
Aldermen that the resolution was aimed
at Alderman Dobie and that IL had its
origin In personal feeling against that
alderman. This Mr.. Evans denied and
asked why Mr.. Dobie had not defended
himself but had fallen back on the
strong arm Of his self.cons;itutsd
champion Mr.. Hill He illustrated his
position by quotations from the poets
and several anecdotes and wound up
by saying it was the "ransomest" set
be ever knew.
The france committee reported sd-
versely upon the resolution offered at
the last meeting by Councilman Smith
for refundiog the city debt. &c.
Mr.. Lawler said that the remarks OF
Mr.. Smith at the last meeting required
some answer. The finance committee
had invited Mr.. Smith TO attend the
meeting. They met, and Mr.. Smith did
not show up. Why, the speaker did
not know. The speaker did not un-
derstand the purpose OF Mr. Smiths
resolution. 1t was perhaps boom
erang. 1t was, he thought, scheme
to get the present city debt into the
hands of the legislature, which will as.
semble tomorrow, and add an additional
debt to the present one. He said the
city OF Alexandria would soon pay the
last OF its 6 per cent. bonds, about S32, :
600, end after that the city might seek
for lower interest; at present Alexan-
andria paid the lowest interest OF any
city 10 the State. He said such resolu-
tions as Mr.. Smiths would have tend
ency TO prevent the city from borrow
ing money at any rate.
Mr.. Smith defended his resolution ID
a paper which he read as follows:
feel satisfied that if my resolution offered
at the last meeting of the City Council is
adopted, and an Act passed By the General
Assembly Of Virginia authorizing tho City
Council TO issue loan for the purpose of re
deeming and paying the present debt. that
IL Uln 6u neg0IIslcu MI inc rate oil three and
ons.half per cent interest per annuw. The
loan is to run for forty yesrs, and am In
formed and believe that the present bond
holders will be willing to exchange the old
bonds for the new issue on account of tho
length of time they are to run. The out.
standing indebtedness of the city Is due and
payable on tho LIST day Of July, 1909. and
the City Council under the Act OF the Gene
raj Assembly has the right to redeem them
at any time prior to that date so even IL the
bond holders did not exchange their bonds,
the new loan could be negotiated and the
bonds redeemed. some OF ou- people seem
10 be doubtful about the ability Of the city TO
negotiate the loan at the rate OF interest
named, but from the information / am able
to gather from reliable sources | do not
doubt it for moment. The bonds Of the
cities of Richmond and OF Norfolk which
bear four per cent interest per aunum and
now have but q few years to run are selling
for one dollar and four cea's and i see from
the papers that the city Of Martinsburg,
West Virginia, has just asked the Legislature
of that State to peTmit 1t to negotiate loan
al three and one-half per cent per snnum. /
called attention 10 the fact that as the bonds
of the city OF Alexandria had risen rapidly
In value that our real estate had as rapidly
deprecated In value j was met with the
assertion that there had been general de-
cline in the value Of real estate In the cities
but after investigating this assertion fnd 1t
Is not true. The recent report OF the Auditor
of this State shows that In the past five years
the appreciation Of the value Of real estate in
the cities has been over eight million dollars.
60 that the depreciation of the value Of our
real estate is due to some other cause than
General Decline" Mr.. Smith here read
tsbulatei statement showing an increase in
values In Gil Virginia cities save Alexandria
and Roanoke Ny idea TO- that whilst our
Anancors have been devoiiug their best
energies to the extinguishmen Of our debt
they have neglected TO look out for t1e wei
fare Of the people by providing for the i'm
proyement Of our city. l contend that the
money paid By the people in taxes should
have been applied to the improvement Of the
city and not to the payment Of the debt
which no one asked and no one expected.
The people who pay the taxes today have
right to expect that 1t should be applied so
that they may receive the benefits from il.
Our bonds would have sold for the same
price today and oar credit been ast as good
IL we had paid our interest promptly. 1t Is
contended by our Auditor. Mr.. E. F. Price,
that the Sinking Fund" is established In &C.
cordance with law, and he cites the opinions
OF Col. Francis L. Smith, Capt. George A.
Mushbach and Mr.. Samuel g. Brent to sus-
tain his position. ! am perfectly willing to
submit the question to these three gentlemen
for their decision, and II they should decide
adversely to my position lam willing to pay
whatever charge they msy make for their
services. The Auditor, In his comm lnication
to the Alexandria Gazette, labors hard to
make il appear that have attacked the in