The Paducah sun. [volume] (Paducah, Ky.) 1898-1906, 1904-07-22
BOND MONEY MAY
BE LOANED OUT
The.Mayor Has Proposition
From Local Bank.
He Thinks Considerable Improvement
Work May Be Done This
Year.
OTHER MUNICIPAL MATTERS

Inc CITY mas uU luttutiou VI ionh-
ing out the 5000, 900 to be secured on
the bond issue, according to Mayor
Yeiser. A number of people seem to
have an idea that the city after bor-
rowing the money, expects to loan it
out again at lower rate Of interest
than is being paid by the city. but
Mayor Yeiser explains the import of
the proceedings in the Board of Alder
men last night, when the matter Of
losning the money out was referred,
by saying that he has proposition
froms . local bank to pay an annual
interest of "a per cent. for daily bal
ances If the 5000, 900 secured by tee
sale of the street. market house and
city hospital bonds, is deposited with
the bank.
Mayor Yeiser stated that this was a
good proposition, and while he did not
really think the interest was enough,
he is confident the city viii accept the
proposition. Last night the aldermen
favored it, but the council will nave
to act before anything definite can be
done towards accepting the PROPOSE
ton.
1.-THE money we will get on the
bonds will not all be expended in the
course of the next year" Mayor
Yeiser explained today "snd think
the city should get some benefit out OF
it's deposit. We will spend the money
as fast as the installments for i'm
provements a re paid, but will have
daily balance credited to rs, the same
as business Arms do which receive In.
terests on their deposits.
Mayor Yeiser stated that he had re-
oeived notification from big banking
concern in the east that in event the
Western German bank of Cincinnati,
which has accepted the bonds, does
not send the money, that bank will
be more than glad to take the bond
issue and pay the money Immediately.
Mayor Yeiser states he is in favor
of starting the improvements as soon
a. the money arrives. and expects to
have about three months Of favorable
weather this year after work begins.
The market house and hospital can be
worked on in winter, but the street
work has to stop when cold weather
sets in.
In speaking of storm water sewers
on South Third street, Mayor Yeiser
stated he was not IN favor of putting
them In. "we have drainage for
Third street to the river which can be
perfected without laying sny storm
water sewers, and be q great saving to
the city. 1t is but one block to the
river and the city can turn the water
of Third street at every cross street
and run it into the river"
This plan the mayor will urge the
city TO adopt.
Some of Mayor Yeiser's ideas are
pretty good, but some are quite anti
qusted. For instance be says he thinks
brick pavements are better than con-
crete pavements, and he fsyors them
in preference to concrete, although
the experience of other cities, and the
work that is being done all over the
world today in the way of building
pavements, do not bear him out. The
mayor seems to have derived his idea
of concrete or granitoid psvements BY
some of the samples of badly construct
ed ones that have been permitted II
Paducah. Concrete pavementn can be
made to last for many years, and are
acknowledged to be the best that pan
be put down in city, but some q he
pavements made in Ped11Ah
would naver be recoQnizad - h.