The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1907-07-20
West Side Improvement Assu-
citation Finding Fault With
MerriIl's Opposition to Six
Per Cent Bonds.
PRESIDENT OF WORKS
BOARD Is STEAOFAST.
Believes 1t Would Not Be Right
To Secure Building of West
Side Sewer by Establishing
Bad Precedent.

Away down in their hearts. The mem
bers of the West Side Improvement ass
sociation are holding a grudge of good
sized proportions against President G.
w. Merrill. of the board of works. sim.
ply because he has taken the stand
against the issuance of six per cent
public Improvement sonds for the reals
ization OF the West Side sewer. At
the associations meeting Friday night
in the Baxter school. the West Side
sewer proposition came i'm for a good
share of the discussion and during the
entire affair the name of President
Merrill was coupled with il in an un-
favorable light. The West Siders
maintained that President Merrill
should have countenanced the issuance
of six per cent bonds, and If this had
been the case, it would have been
certainty that the bonds would have
been issued and the work started. They
stated at the meeting that the First
National bank of Richmond had stood
willing to take over the bonds at six
per cent, but President Merrill would
not sanction such "A move and thereby
delayed the start on the work of con.
structing the sewer. President Mer.
rill states that the board OF public
works at no time received a communi-
cation from the First National people
x,s;fl li,a, f.lr
bonds at six per cent.
MerriIIs Attitude.
The president of the board, i'm
speaking Of his position on the bond
floating proposition. made his views on
the subject very clear He said that he
did not favor the issuance of six per
cent bonds simply because 1t was not
just to those people who would have
to sign wavers and take their time
about paying their assessment on the
He said that the extra
one per cent is unjust. and further
more, the approval of the issuance of
six per cent bonds would set "A prece-
dent which would necessarily have TO
be followed in years TO come. He said
one section of the city could not be-
against in favor of the
other. and should the city once issue
six per cent bonds IL was a ten to one
shot that the practice would have to-
be continued. He further maintained
that the larger per cent of those people
favoring six per cent bonds are those
who would pay cash when the improve
ment is completed. and therefore woulf
not be directly affected by the added
one per cent interest on the papers.
Those who would be financially unable
to pay for their assessments immedi-
ately and would have to sign wavers
paying the assessment in small sums,
would be the ones who would be hurt,
as the added one per cent interest on
the issue would mean much to them
during the ten years which they
would have TO meet the assessment.
President Merrill also made the asser-
tion that up-to-date no bank. either in
or out of town, had agreed TO take
over the city's public improvement
bonds. Five per cent interest, Presi-
dent Merrill says is as high as should
be asked. and he will hang out for this
to the last TO prevent the establishment
of precedent which he believes would
be regretted afterward. and to protect
those who are not i'm any wise able TO
meet the assessment with cash.