Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1905-10-14
FIRE INSURANCE REDUCTION.

In this issue of THE BEACON
will lie found a notice given by
the Board Of Aldermen THAT they
propose to issue $4,000 more
bonds for the purpose OF erecting
II tower with II 100, 200 gallon tank
and to install filter at the water
works plant. 1t will be remem-
bered that about ten days ago an
Inspector representing the Under
writers agency, was in the city
and made a thorough and eXhaus-
tive inspection OF the waterworks
plant. THIS inspection was made
for the purpose Of determining
the insurance class in which the
City Of Macon should be placed
For the purpose of fixing rates,
all cities and towns are divided
into four classes. the rating being
fixed by the amount and quality
of their Gre-nghting equipment.
For a number of years Macon has
been what is known among insur-
ance men as a fourth-class town,
The Inspector informed the board
before he left that with the equip
ment as it now stands it would
not be possible to rate Macon as
a third class city until a tank and
tower were provided, the tank to
act as a reserve supply of water
in case Of accident to the pumps
a fire. OF course it will
be necessary for the matter of the
issuance Of the bonds to be sub
mitted to a vote Of the people,
and the Board will, at a meeting
soon to be held, order the election
and fix the date.
Now, let us see why we should
vote this bond issue and thus have
the rating Of the city changed
fourth to third class. In
the first place the rate books of
the Insurance agents show that
there is seventy-6ye cents per
difference in the basis
rates between third and fourth
class cities.
That means just this: Suppose
YOU own a store house or stock
of goods valued at $j00Q,00; the
differnce in the insurance on this
stock of goods or store-house be-
tween third andfourth class towns
be seyenty-fvc cents per
dollars, or $3.50 on
the $4,000 90 for one year, At the
same, as the assessment rolls re-
Gently filed show slightly over one
million dollars of taxable proper
ty in the city, and as 1t would
only be necessary to raise by tax
the interest on the proposed
issue of ten thousand dollars
amounting to 100000 and 10000
on the principal the additional
tax ON account of the bond issue
would be about half Il mill, or
about $3.50 un the $j000,00 above
mentioned, In other words, the
owner of the $5000,00 store-houSe
or stock of goods by investing
$3.50 in taxes, would effect a say
Of $3.50 per year in insur-
ance. Looks like rather Il good
investment, does it not?
The assessment rolls recently
filed show total of capital en-
ployed in merchandising and
manufacturing $lS5, 0S9.20 and
the store-honse property on the
six blocks constituting the bust
ness district of the city is valued
at $136, 10000 giving a total of
these two items of 1921, 239.20,
BY being rated as II third class
town, instead Of a fourth class,
Macon will save on these two
items alone seventy-iive cents per
hundred dollars, or 1859, 20,
nearly half the amount of the
bond issue, each year.
In view of the facts and figures
above set out, each one Of which
can be fully verified, it appears
to us that this rs the best oppor.
tunity property owners in Macon
have ever had to make II bonanza
Investment, one which will pay
several hundred per cent. Vote
the bond issue and by increasing
the tax levy about onc-balf q mill
a saving Of about 43 pei
cent, in the basis rate for insur-
ance.
WONT RIDE HORSES SOUTH.