Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-01-12
AFFAIRS IN Al EXAM DRIA
DISCUSSION OF THE Bonded DEBT
OF THE CITY.
The Total Amount ~ Shown by Last
Annual Rerert-Gen-
eral News.ye
Evening Star Bureau,
No. T0f King st,
Bell TNlenhape No. 1O6.

Inc question OF reminding the city DEBT
will probably be the principal subject for
discussion at the next meeting Of the city
council. The matter was brought up at the
last council meeting, held the 9th instant,
by Councilman Smith, who introduced a res
olution providing that the corporation attor-
ney be instructed to prepare an act author
izlng the city council to negotiate a loan for
the purpose of paying oft and redeeming
the present debt, to be made payable forty
years after Its date. with interest at $50
per cent. In the preamble of the resolution
1t was set forth that the city debt would
be due July, 1909: that the corporation had
no funds with which to make the payment,
and. furthermore, that the city had a right
to redeem the debt al pleasure This reso-
luton Is now In the hands of the finance
committee and the commissioners of the
sinking fund.
AT the time it was presented Mr. Hubert
Snowden. president of the common council.
gave notice that he would secure data and
discuss the matter at the next meeting,
which will be held Tuesday, the I'D in
slant
This marks the second effort that has
been made in the present city council to
secure action on the public Indebtedness.
In July, $780, resolution was introduced
by Alderman j. Mariotte Hill, provid ng for
the redemption of the debt by borrowing
money at 3 per cent 1t was referred to a
special committee. Some Of the members
OF this committee visited the city auditor
ana secured Information regarding the out
standing corporation bonds, but so far as is
Known no further acton was taken in the
matter. The latter resolution provides for
money at half per cent greater interest
than that named in Mr.. Hills resolution.
Total Bonded indebtedness.
According to the last annual report of the
corporation finances issued by Auditor
Price the total bonded indebtedness of the
city is s79S3OO, itemized as follows: Regis
tered coupon bonds, issue of 1872, 49,, 400;
registered coupon bonds, issue of 1879.
s74S.90O; registered coupon bonds Cheld by
the commissioners Of the sinking fund.-,
issue of 1872, IS, 100; issue Of 1879, s., 500:
certificate No. 81 interest bearing, held by
the commissioners of the sinking fund In
leu of destroyed bonds of the issue Of
1879, SC, 400.
In view Of the present agitation the fol-
lowing notes from the auditors report are
of interest as relating to the history Of the
debt: The publis debt in 1880, which in
cluded all the various issues of bonds,
stocks and notes then outstanding and due,
amounted to 81 ,01s.S30. During the fifteen
years, 1SSO-1S95, the debt had been reduced
in the sum of 500 $50, and of this amount
Sill 800 was retired into the sinking fund.-
the interest and redeem per agreement
through the general fund certain bonds and
notes required an expenditure of $4,000
per annum for each of these fifteen years.
THE public debt July l.. 1900, as shown
above, is $79S.3OO of which amount $1,000
is held by the commissioners of the sink
ing fund. To show the exact condition Of
the debt at the date Of this writing, Sep
TENDER 10, 1900, $50, 400. issue of 1872, and
s74S.90O. less 5000. this last named sum
representing purchase since August l, $7f'.-
900 should be added making a total of
$776,3OO, and a reduction Of s24453 in the
lnhf tn yryo wv nf w n
resents purchases made through sinking
fund. This has been accomplished with
out an increase. but with decrease of 10
cents in the tax rate. made in 1898 and
continued each year SINCE"
General Matters.
Deputy United States Marshal Joseph
Glover, today turned over to the care OF
Deputy Marshal U. M. Bland of Richmond
a prisoner named William Cain. who was
convicted Tuesday, in the United States
court Of robbing the post Office at Norman,
Culpeper county, and sentenced to two
years in the penitentiary. Cain will be con-
veyed to the Moundsville. West Virginia,
penitentiary.
The final services of the week of prayer
were held last night at the Second Presbv-
terrain Church Rev E. ". Register Of the
NJ. E. Church South conducted the SER
vices.
Extensive improvements at St Pauls
Episcopal CHURCH are being contemplated
by the vestry 1t is proposed to extend the
ediflce toward the east and enlarge and
remodel the choir gallery. new organ is
also contemplated.
Rev. C. R. Womeldorf Of Maranhao,
Brazil, will deliver an address onothe SUBJ
ject of missions in Brazil at the Second
Presbyterian Church tomorrow morning.
The United States court for the eastern
district Of Virginia, Judge Edmund Waddill
presiding, which has been in session here
since Tuesday. adjourned for the term
yesterday afternoon.