Gunnison news-champion., 1906-05-04
TWENTY WAs A6U

sseesseoeeasooAoooAosooaoo
4. 2. Cs,lAssn and " A Gsllas
Fss da.ssaSsd psrss~ssAsp.
Ms. ki~sley Esov~d her csas-ctssa-
cry stand fson slse ~sss ed ~ slss
b~sldssg esss ~ ti.~ Scost blS~sk.
j. g. Noses. vho had hesa trasa
d'spssches .; Gasa,soa fs nsss
ysssN. hsts wssL has fsm,ly fs Sak
Lac City
John Andrews aud Cola.bss
Sts.ae brought frosn the Cebolia rich
sFecimeas of ore that caused Uack
tnlHsnG exc,tesaeat A msll r~n
msds Jp poeni. returned $son
10 the ton j h. Tsllaierro was =
pioneer miner.
Prank Adams took his position az
postmaster Ut Gannlson aud ap-
pointed Charley Bennett assistant
and Leon kreps. clerk Mr.. Alonzo
Hartman, the first postmaster had
held office for ten wears. the hrs,
two or three Of which he conducted
Uncle sam business IN one Of the
log cabins still standing IN
he grove this side of his pres
ent residence La 1879 the oiiie~
was moved TO the present town of
5unnison
.xsTxxexrSrs,r.xsx sx'vsrx.v@~ysv,ru.
town now out and owing in its
bonds.
The town is now indebted on its
old bonds about $50 900 90, and
the school district, which is COM
posed almost entirely of the town,
is indebted about S22 900 90 and
the debt of the county is S4O0,
900 90, OF this amount about one
seventh, OF So 600 90 is the share
of the town. In addition to this
we have voted for the issuance of
slOO, 900 90 in bonds of the town
to pay for the construction of
water plant for the town. The en-
tire debt of the town is S215, 900. 90.
ON this debt the taxpayers have to
pay a little over four per cent,
which amounts to IS, 900. The tax
assessment of the property of the
town for the year 1904 was 1881.
4s7 rs, and for the year 1905 was
x2s3, 900. 90. The decrease in val
uation for one year was s4s, 457.75.
The debt of the town is about
eighty-six per cent of the entire
valuation of the town, with the
probability that the assessment for
the present year will be even less
than that for 1905. ] give these
figures because there has been a
great deal of talk of inducing in
vestment of capital in the town on
the prospect of the construction of
a new water and light plant. The
first thing an investor asks is.
What is YOU debt and your tax
rate p The second thing he asks
is: What is your valuation, and
what is the income from rents ?"
DO these figures present anything
which will lead men to invest /,
You take any one owning a house
here which has cost him 81 900. 90
and the best he can expect is to
get rent of five dollars a month and
his taxes, insurance and repairs
will eat up about one-half OF it.
Does any one suppose that if we
tack on a debt of 500, 600. 90 more
it will be any better, | certainly
fail to think so.
1t was said by many at the time
the people voted to issue the bonds
for the water plant that the board
did not want to use all the bonds
but just wanted to have the au-
thority to issue the 500, 600. 90 to
give them a leverage and a mar
gin, that they did not expect to is
sue all the bonds. We were also
told that the board would sell the
bonds and invite none but cash
bids for the works. The board
lietH ictifS1 " SAD titltAl vi AliN AAlAA4SN
that it was said they would do.
The bonds have been authorized
and the board has accepted the bid
of Mr.. Sethnan to construct the
works for 500, 900 90 in the bonds
of the town. What do we now
find That not only did the board
fail to sell the bonds and contract
to construct the works on a cash
basis, but they agreed to give Mr..
Sethman SO, 10000 of those bonds
on an account that had never been
audited by the board. We also
find that Mr.. Sethman is holding
back because he can I sell the bonds
except at a great discount. 1t is
said that the very best offer he can
get for the bonds is sixty per cent