The daily journal. (Salem, Or.) 1899-1903, 1903-10-02
FRISCO
BOND
ELECTION
Bay City Turns New
Leaf in Its
History.
Only Two Proposed Improve
ment Projects We're
Voted Down and
Out
chronIcIe. sept. sOth.

Chronicle, Sept. SOth.
San Francisco turned yesterday
new leaf IN It's history, 27234 Of tn
voters decicing that the city shoul
cntor upon IN era OF municipal in
proven snt. by means of borrowe
money. Ten OF the proposals submit
ted 70 the voters were ratified b
substantial. and, in several case
overwhelming majorities in excess {
the two-thirds required by law
The vote polled was large on,
considering the nature OF the election
II exceeded that cast at the primar
election. when only 26,O3o voters wen
TO the polls It would have been hea'
fer but for the Misunderstanding o
the part of many voters, who faile
to register 25 days before the election
The day was passed without unusua
incidents. and the bulk Of the vote wa
polled early in the day.
The city and county hospital propc
sltlon leads the list OF measures L
win popular Endorsement Receiving
nearly 30 per cent OF the total vot
cast. Next came the new schoo
houses. which fell little short Of IN,
hospital vote. and close IN rank stan,
the sewer. new streets, county Jail
public library. small parks and th'
Missionary park proposals. The plai
10 connect Golden Gate Park and tn,
PEssldio. and that for the purchase
OF Telegraph Hlll had a closer vote
but were safely Victorious.
The Items That Failed.
The unsuccessful propositions were
those relating to ST. Mary's square
S2O5 900. and Twin Peaks Park, $3.50.
600. With these two Items subtracted
the total face value OF the bonds foI
which the people have declared Ii
S1777l, 900, The omission OF the two
smaller items does not affect material
ly the total aspect OF the bond issue
The maximum tax levy for one year
on the 81. Mary's square bonds would
have been Sl2.SOO. for 40 years, $685.
OS7. The maximum annual tax lovy
for the Twin Peaks Park bonds would
have heen $3.50, and for the 40 years
s27sOs2.
How the City Voted.
An examination Of the vote. which
was not counted until late last night,
owing 10 the large number Of propo
sltlons voted upon. disclosed no slrils
Ing peculiaritles In the ballotlng The
two measures that lost we're defeated
by the votes of tho business and older
residential sections, rather than by
he votes OF the newer districts OF the
'ity. Hut. as rule. the business sec.
lion rolled up as big majorlties as the
divisions OF the city which are yholly
given up to the homes OF the small
householder where the greatest
strength OF the proposals was expect.
"a TO be found
Plan Of the Issue.
The plan for the payment OF the
1885 600 In bonds was that they
.hould be paid on In 40 annual In
.tallments. The aggregate tax levy
or the arst year would be 81 OSs. 100,
md for the fortleth year Si69.sis.
rhus the total principal and interest
o be paid during the 90 years became
ISt ,tt6,9O7. The interest decreased
.aoh year sl6.S6s,1S.
The bonds are TO be OF the kind de.
nominated serials" All bear interest
Il the rate OF 80 per cent per annum
rhis bond issue viii be susceptible OF
'opular participation, for the reason
hat many OF the single bonds will be
u low denomination. the face values
'eing SiO0. $500 and $1,000, The total
number OF bonds OF all denominations.
Is arranged ia event that an tho bonds
'arried, Is ao,62i. OF this total. a62S
'onds are OF the denomination OF SiO0.
otaling t96s. 500. There were to be
67l $500 bonds totallng sS.Sss 500
There were 20 be ls.StS $1,000 bonds
Otallns tia.si9O00. The bonds viii
oteh a premium. the amount OF which
5 yot speculative. The charter em
'owers the supervisors 70 sell the
'onds MON time 90 time. AZ required.
.nd la such quantities as they may dc.
ernine" As All the money viii not
y required Al once. % course all the
,onds viii not be sold at once. A.
Iood margin has heen allowed. and al
. possible that TIE improvements may
. made without sale Of all the bonds
sewer syalom ..,....,.,,t IsSo.e00I
sspairlnE aud improving ae-
eopted streess ,,,.,,,,.. i6ll,oooI
'Aildeens Fairgrounds '... 7ti.ooo'