The Montgomery advertiser., 1908-12-01
 BOND ISSUE
 IS ORDERED One Hundred and Fifty Thousand. ELECTION SET FOR JANUARY 4 Margin Is Left for Future Election tn Emergencies.  Eorcefm Speech of Charles 3. Teasley Influenced Board of Revenne as to Amount of Issue Pro-
 posed.
ELECTION SET FOR JANUARY 4

Following a speech by Hon. Charles B. Teasley before the County Board Of Revenue Monday. the intentions or tne members of the Board underwent partial change and instead of calling for a bond issue of $25O.000, as was first desired, it was decided that xiSo'- 600 would be the amount Of the issue, upon which the people of Montgomery County will vote on January 4.
 In his speech, Mir. Teasley advocated the smaller bond issue. branding the S250,0O0 in bonds as unnecessary and unwise. There was no need for the County to assume a bonded indebted ness to its constitutional limit, he de- clared, as that would prohibit, for space of thirty years. at least, q bond issue for emergency cases The pro- posed bond issue, he declared, is in- tended for the purpose of meeting the obligations of the County, and to re- lieve the present straightened hnan- oiaI condition. Though the money Is absolutely necessary for that, there is little need for more, as the revenues of the County which he showed in fig- ures. amply provided for all necessary work on roads and bridges. said Mfr. Teasley.
 Taking into consideration his argu- ments, and his opposition to the beg bond issue, the Board voted for the smaller issue of s150,000 in hfty-year. { 1-2 per cent bonds.
 A motion had been made before this by President Fleming to call an cleo tion for $150.000 in bonds. but was lost. After the speech of Mir. Teasley, and after an earnest confab of the Board, it was decided to reconsider the vote on the Presidents motion, and 1t was carried on the reconsideration.
 In his argument, Mir. Teasley showed that the revenues of the County will amount, during the coming year, to about $230,000, which Is $215,000 from taxes. about $10,0o0 for licenses to State and County, and about $5.000 from court fees. Taking from this the $75,- 900 necessary expenses of the County he showed a surplus ample to con- tinue the necessary road and bridge work of the County.
 It was the general consensus that the bond issue Is necessary at present, however, there being outstanding con- tracts from 3100.O00 to $15o.000. which can not be paid in the present condi- ton Of the County exchequer.
 Proof of Cash Needs.
 Proof of the County's urgent need of cash was forthcoming at Mondays meeting of the Board, when much of the time was taken with explanations to disgruntled creditors of the County, These, contractors mostly, had received the oounty's certificate of indebtedness for the work done. to be paid as 1t showed on the face, whenever sufficient funds accrued to the County. This '.script," as 1t Is generally termed, will thus be outstanding for an indefinite length, and some banks refuse 1t. as one contractor declared, because of the lack of a definite time of payment. There are other contractors who kick because of the fact that the only means of procuring cash for the script is by discounting the paper, while the Coun- ty. when settling. offers no interest, thus making the transaction somewhat of c loss to the contractor. But 1t is generally recognized that the County can do no better at present, and. usual ly. the paper is taken cheerfully.
 It is probable that this impecunios- ity will continue but a short while more. as the taxes are beginning to roll in, and in event of the bond issue being carried. there will be ample on hand to pay indebtedness, and to con- finue the County's necessary road work.
 There Is little or nothing being &C., compiished in new work on roads at present. the lack of money preventing the Board from entering into contracts