The daily tribune., 1905-04-15
BUSINESS IN CITY
MANAGEMENT
Continued from p.s. ~


while at the same time they CRY
graft" to somebody else. think
that you Will notice In this also that
only few days siuoe you were expect
cd not only to swallow the stories and
nonsense put out In such . paper. but
in the very same issue Of that paper
there was large bill for blank space
there which you were expected to pay
for. to the tune Of Si8 ~. and that
during the very days Of your cam.
paiRniug when you were supposed to
be studying those questions and not
to be asleep to your surroundings.
All that in the very paper slander-
ing every person opposing IL. and cry
ing gang" and graft all the time.
This would not be mentioned II
it were the only instance. I Gmply
use it as an example. believing that IL
is within the memory Of every reader
when I state to you that your admins
tration during the past two years has
made large Fart Of its progress by
scaling down suoh bills. and tho very
same party to whom I have Just
called attention. has had moro bills
scaled by far than any other person
having dealings with this city during
all Of those two Year,. When We look
at the fact 1t would seem strange that
some men ut least have not . seuss Of
honor and right in them sufhoiently
to be just IN their dealings with the
public, but the fact that they have
had the favor Of public confidence
bestowed upon them seems not to count
for much. They treat that conf
denoe lightly. It soon falls below
their notice; 1t is forgotten, the
question then uppermost 10 WHAT Is
THERE IN IT? These arc questions
II prudent, honest business admipstra.
tion must contend with to succeed.
One more feature have been asked
to speak upon, namely; the handling
Of your water bond sinking fund.
As to this fund you arc required
to keep and accumulate els.bOO eaoh
year until Jan. 1909. that you may
then have on hand . sufficient fund
to lift about half Of your water bond
indebtedness. THIS SINKING FUND
SHOULD BE SAFELY INVESTED
and in such manner - to draw q
near per cent interest ~ possible -
an Offset to the interest as the sAme
time on . like amount Of your bonds.
1 have been charged by Mr.. Frank
Moore's Ex Parte - having given A
LEGAL OPINION thas this fond
could not be used; the charge 10 not
true. l never gave such an opinion,
nor made such . statement; suci,
allegation, however, very properly
belongs to its maker. and I am not u
all surprised at him. Il eoes very
we'll with the other statements; for
instance: That Wilkes 10 Peabody
man; he is mean TO the poor; An Aris-
toorat, stuck up. ready 70 leave N
after election; holds down the price
Of city paper to IS cents when II
would otherwise sell for 20 or "a
cents and 10 fighting Unols Tom Rob.
insou's street railway. etc. All such
twaddle and nonsense goes very we'll
together and 10 too false and too fool.
ish for notice
But where and how 70 boat handle
your sinking fund 10 . matter Of bust
ness confederation. Your ordinance
is iron clad In its requirements tha'
1t be kept separate and aocumu lated
to meet the bonds. But il 10 not busi.
ness In these times TO let 1t lay and
rust. 1t should draw interest to onse,
interest accommodating on tho bonds.
How best to do this 10 . matter no~
for your adnainistration 10 work ont,
your council together with youI
treasurer, and his bondsmeu too 70,
they will be interested In that matter.
With proper caution IL might BE- fsss
ible for the city to handle part oi
that fund ~ against its own outssand
ing paper, but that would reQuirs