Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-02-24

If a man owned half a million dol
lars worth of Marshalltown real es-
tate and income bearing property and
was in debt about $4,000 for money
borrowed. he would be facing bankrupt
cy from exactly the same distance that
the city OF Marshalltown now faces
such a condition, as shown by fiGures
furnished from the city clerks office
and estimates made by Councilman
Abbott, upon the request of this news
paper. 1t is not the purpose OF the
T.-R. to hold brief for any mans
contention during this campaign, but
the published charges that the city was
bankrupt have been misunderstood out
side OF town. greatly to this city's dis
credit and because of the work MT
Abbott has done in preparing his paper
upon our city affairs read at Cedar
Rapids. he has been requested to pre-
dition and explain in a general way
the causes for increased expenditures
during the year 1908 as compared to
1899, which is the comparison made
by the councils critics. 1t is not the
purpose of this article to excuse, just
ify or condemn such expenditures, but
merely to show what they We're. These
figures have been checked back by the
city clerk and declared to be correct.
Financial Condition.
At the close of the last fiscal year
the city had in cash on hand and $l9,-
552.93 held by the county treasurer. Il
total Of s27.3S7.S4 cash assets The
city then owed $4,000 in bonds. $780,
900 Of which We're a mortgage on the
water works. 1t also owed $26,S76.46
in outstanding warrants unpaid or
total indebtedness of S97,S76.46. De-
Quoting the cash assets, the city's net
Indebtedness was $704SS62 or $19,-
971.93 under the constitutional limit of
per cent of the taxable value which
was 500, 460.55.
AS additional assets not listed in a
financial statement the city has. ac-
cording to an estimate made by Coun-
Gilman Abbott:
Water works system $295, 600
Electric light plant .......... 10000
Sewer system $4,000
Fire department ............ $4,000
Old CITY hall 5000
Third avenue station ........ 1900
Detention hospital ........... 1000
Total ............ $500, 200
miles.
Paved streets ... 1122
Water mains OBSERVATION-DISCLOSURES. 5000
sewers aS.fJ
Street and arc lamps, 129.
Paid fire department with eleven
men and seven horses.
In reality them the city owns half
a million dollars worth of property,
outside of it's pavements, against
which it owes $4,000, and is still nearly
100000 under it's constitutional limita-
ton.
In comparison to Marshalltown's
$4,000 Ottumwa owes $166,O0O, Burl
ington $215,O0O, Oskaloosa S 600.
Keokul< 900, Waterloo 100000 and
none of them own their water works
plants. FIT. Dodge owes 100000 or
more but does own it's water works.
Some question has been raised about
including the $4,000 in the county
treasurers hands, but the city clerk
does so on the advice of the city So
licitor. Also the total cost of paving
intersections will be some $4,000 more
than has already been paid This is
not included as a liability now for the
reason that it will extend over per-
i01 of ho Low
council, in making street improvements
ial five mill levy.
Comparative Expenditures.
From the table of expenditures for
the past five years it will be seen that
the present city council has spent over
$4,000 annually during the past two
years more than was spent in 1899,
which seems to have been light year,
the other two years showing only $15,-
600 each less than the past two.
LIN this year $4,000 can be attribu-
ted to cost of paving intersections, ex-
tension of water mains ahead of paw
ing, engineering, and paving printing
Nearly $4,000 is due to cost of water
experts at the time of the fever epi-
demic, to the increased cost of pump
ing all water from the drive wells and
to the money spent in that year on
the new reservoir. Over $1,000 of the
total increase is due to the paid fire
department. About $4,000 is due to
salary increases, S3,454 to library tax.
S. 600 to increased street and sidewalk
all over town, $1,7OO
to new city offices expense several
Tin ouSand dollars for il1crea sod
cost of labor and the rest in miscellan-
eous items which are enumerated be-
low.
Levy for City Tax.