The Denison review. [volume] (Denison, Iowa) 1867-current, 1902-05-06

In another column will be found
statement of the city's financial status
as presented by the treasurer, G. L.
Voss and the finance committe COM
posed of Aldermen johnson, Wright
and Davis. 1t must oe frankly admit.
ted that the showing is not an encour-
aging one, but the republican council
is to be congratulated upon the fact
that by the practice of rigid economy
during the past year it was possible
last evening to order the rayment OF
s3,600 OF the city's debt. This brings
the Indebtedness below the $4,000
mark, but still leaves it about $4,000
above the constitutional bond limit:
$4,000 of the debt is bonded and bears
5 per cent. interest, the remainder is
carried by the banks at 6 per cent.
This debt cannot be refunded until it
is reduced to the bond limit or to about
S2l, 900. According to the finance COM
mite the annual income of the city
from all sources is about SIS, 900. This
includes taxes, mulct tax, licenses,
water rates, fines etc. The same COM
mittee estimates the expense of the
next year at $4,000. The salary roll
is about 81, 500 including mayor, coun-
Gil, police force, night watch, clerk.
solicitor and treasurer. Light and
water will cost the city about $4,000,
interest on indebtedness about 81 800,
the incidentals, such as election ex-
penses, fuel etc. will bring the total to
So 900, leaving $1,000 for work on the
streets and for unforeseen expenses.
If the expense can be kept below $l0,-
600 the city can next year pay $1,000
on its debt, saving $500 in interest and
in two years the debt can be reduced
to such point that the whole can be
bonded for 5 per cent. or less, thus
saving per cent, on 10000 To do
this means strict economy, $4,000 per
year means almost nothing in its Wis
ible effect upon the streets of the en-
tire city, it will mean that many need
ed Improvements must be delayed and
that many property owners will feel
that injustice is being done them in
not opening streets on which they
have made Improvements, for street
work is always great and in such a grow
ing city it is almost imperative, but
the city can not eat it's cake and leave
4 it too. We must either expect the
debt to increase from year to year or
else we must turn our back temporar.
ily.upon the demand for improvements.
By strict economy the city could be
out of debt in about years and be left
free either to decrease the tax levy OF
to expend about IS, 900 year in public
Improvements. In this connection il
should be stated that last year abou
So, 600 was received from water rates
!, This more than pays the expense O
pumping although it does not pay in
terest on the city's investment in it
water plant.
The city is now being run on yer,
economical basis the police force ha
been reduced by and one man and tn
: council has instituted number o
, m nor reforms.
The REVIEW would suggest tina
} either the slot machines be ordered GU
, or that fine be imposed for running
2 them. The town of West Side receive
, SIS 90 per week from three slot mac
hines and the owners have no though
of taking them out. We are in favo
of stopping them altogether, they ar
, against the law and not conclusive I
I good morals but if they are to run the
should be fined They could easily
made to pay the salary OF at least on
police officer.
+ In conclusion the REVIEW wishes t
+ congratulate the council upon the bus
! ness like way in which it has take
a hold of affairs and we also do not wis
! to withhold our need of praise frol
Mayor Carey for his laudable effor,
e for the city's welfare.