The Topeka state journal., 1908-05-26


latter arrangement il the bonds are
over subscribed the smalled investors
VIII be given the preference, in case
tnat theo onds are not fully subscribed
tne trust company agrees to guarantee
thas the bonds not subscribed will be
soid at par. The trust company through
scott Hopkins and j. B. Larimer. OF
Its board of directors. stated that 1t
DID not care to purchase the bonds It
self as 1t had opportunities of invest
Ing In bonds netting a higher rate of
interest.
Several OF the councilmen stated that
the Prudential Trust company offer
should be drawn up in more definite
form, that sales of bonds should be
subject to accrued interest and that
premium should be mentioned. Mayor
William Green replied that this went
without saying that the sales would
only be made subject to accrued inter-
est and that premium bids would of
course receive first consideration.
On a motion to refer back. Coun-
cilmen Blakely, Fraser, Van Ness,
Kutz. Horn and Miller voted aye; vot-
ing no. Councilmen Howard, Jordan,
Stanley and Tandy.
We desire to have an opportunity
to bid on these bonds" said A. A. God
ard. I'VE will submit our bid at any
time. tonight If you wish 1t. We will
ium. You represent the taxpayers of
the city and you want to do what is
best for them. Considerable has been
said about giving moderate investors
chance to invest and I am aware that
the people of moderate means should
be given a chance to buy If they want
to. But have you stonped to think
about this. If these $4,000 in bonds
are offered at large to the people of the
city it means that $4,000 will go off the
tax rolls next year, for these bonds are
nontaxable. 1t just occurs to me that
there is not so much sentimental rea-
son for selling these bonds II 1t Is re-
allied that this $4,000 of property goes
off the tax, rolls. We will buy the
whole issue and pay a premium and
agree furthermore to sell the bonds to
private investors il they desire to buy
them from s-at athe price we bought
them and not charge cent more.
I'VE are simply acting as your
Dental Trust company to the council
Your fiscal agents. We will do what
ever you request US to do. The point
is, to let the small buyer get control or
them. .Weadon't want the bonds ourselves.
We are here to try to help the small
investors as well as the large investor.
This offer came to us first, We did not
make 1t. We simply agreed to act as
suggested when the city came to US
II can't understand why the State
Savings bank can't subscribe for these
bonds through the agency" said Mayor
Green.
James Troutman objected to the
wording OF the offer made by the Pru-
Dental company to act as agents be-
cause nothing was said about premium
with respect to the reception of bids
"All that is said is par" said he.
'srhe Prudential never did bid for
these bonds" said ]. B. Larimer.
'It isn't asking to buy these ponds.
agents for the sale Of these bonds.
There is no possibility Of the Pruden-
tial making anything out OF IL unless
dishonesty and there is no hkelihooo
that such will be the case.
An epidemic of typhoid fever will
sweep over the entire city is the dire
full words of DR.. S. J. Crumbine, OF
the state board of health to the CITY
council unless sewer Is constructed
in the Second ward.
"I don't think that there is anotner
community in the state OF 5000 or
10000 people without modern SAM
tary sewer system. The conoition
| that YOU have down there Is unusual"
said DR.. Crumbine. the conoltion
;s certainly a menace to the health
of the whole city and most certainly
typhoid fever will sweep over ina.
part OF the city if the present system
Of things continues.
"From the standpoint OF health ano
economy a sewer snoulu a,t,, ohnsa-
clan 1.-THE expense of keeping the
present sewage removed will amount
r. about as much as the sewer would
cost. At least I know that mas oeen
my experience. ca
councilman Miller of the Second
lward declared the people We're not
I readv to build a sewer yet because
thew could not afford to bear the ex-
nenses. :. He. stated that the majority
we're Just paying out on tnelr noines
.nd others still were out of work ana
ehot tha exnense of a sewer was be-
vond them Besides he stated ne un-
derstood sufficient fall could not pe
secured The city engineer, how ,;
stated that he thought plenty OF Iaii
could be procured. .,ro-
The council agreed to report Iavor-
.hIy for a sewer and instructed the
c;tv engineer to outline the BOUNDARY
~ Tho benefit district. Thirty days VIII
he given for people to remonstrai.e !.
and If they are largely opposed TO II
the sewer will not go H.
II will cost $7.375.78 to establish
ere station near Seward ana WoooIuiI
avenues in the 9Th prec1nct OF lne
Second : ward according to an es.l. ST..
mate made by s.;-,:+e g; .. wir incIudes the
cnst >of a building, site and equipment.
a two-story building. practically the
-aro l., size and general construction
sc st.f fion No. 5 to cost $4,000; ground
ao ha, 1a5 feet, $500; one chemical
susins en- Ds ss.1oo: two horse. :4oo; one one
set set patent FIRE harness. s9e:6l: one
Sar,eweii Sc. electric gong and indicator
si75; one station fire alarm o6 box .szo: szo:
furniture, bedding. etc. sioo' Is, .nl
Gas stoves for heating $4o' misceI-
,aneous equipment $110.17; one drive
Well Well with wi pump etc. ss1s. The esti-
mate was. sent to the committee on
ways and means.
North Topeka is to have street
f.;, hep;nnine with June and ending
I,,Jv 18th The shows Will De
brought here under the auspices of
the North Topeka Civic club. A reso-
luton granting the use of Gordon