Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-05-02
MAYORS APPEAL
FOR BOND ISSUE
For First Time He Breaks Silence
Regarding Salt Lakes
Financial Condition.
GIVES DEFINITE STATEMENT.
CITY Engineer Submits Estimate OF
Necessary Improvements Contcm-
plated for This Year.

There was a pathetic meeting in the
office of Mayor John S. Bransford last
evening, when for the first time the
chief executive presented the financial
condition OF Salt Lake City Aside from
the figures submitted Mr.. Bransford
communicated nothing new, for dur
ing the past twelve months the read
ers of the Deseret News have been
aware OF the fact that expenditures
have exceeded the revenues and the
city financially has been on the rocks.
The meeting was an invitation affair
extended to the editors of the five
daily papers and public spirited cti-
zeus. Four-fifths Of the daily papers
were represented by reporters, includ-
ing the Tribune and its evening APP
pendix and the concourse of citizens
was summed up in the three names,
NJ. II. Walker, George Y, Odell ana
j. II, Johnson.
HAD A SINECURE.
Several councilmen, including A. J.
Davis, and iMessrs. Fernstrom and
Ferry, were present but interest CEN
tered ON the special auditors whom
sacreligious Mulyey long since dubbed
the $4,000 American beauties" They
formed tableau armed with portfolios
and We're prepared to answer divers
and sundry questions on the part of the
palpitating invited tax payers. Aside
from one or two queries by Mr. Walker
the special auditors had a sinecure.
Mayor Bransford opened the pro-
Ceedinss by making a statement of the
condition of affairs and affirmed that
II was not his purpose to conceal any
thing. The plain statement of facts
was that tho administration had to
have more money to carry on its
scheme for improvements which We're
absolutely necessary commensurate
with the growth of the city. Tho
mayor stated that at the first of the
year there was not a cent in the treas
ury for this purpose. and 1t was run
ming behind each month.
After reading a prepared statement
he called on City Engineer l.. c.. KEEL
sey, who went into detail regarding the
contemplated improvements.
FERRY's EXPLANATION.
Councilman w. Mont Ferry then took
the floor and the burden of his intro
ductoTy remarks was that the meet
ing had been called for the purpose
of letting the opposition press know tho
true inWardness of the financial status
of the city. He, like the mayor, at
firmed that the only solution was the
alternative of issuing 100000 city bonds
or increasing the taxation.
At the conclusion of the meeting.
NJ. Fl. Walker. banker, went on record
as being in favor of a bond issue.
This scheme of pulling the admin
tstration out of the financial mire and
allowing posterity to pay the debt con-
tracted rather than raising the ire
n l..
taxes prior to election apparently found
favor with the powers that be assem-
bled.
MAYORS EXPLANATION.
Mayor Bransfords statement in full
was as follows:
In regard to the proposed boad is
sue, J feel that an explanation If the
city's financial condition and its cur
rent requirements is due 10 the lax
payers in regard to the recommends
ZION 10 make Improvements from the
proceeds of bond issues instead Of from
current expense funds. Each year
the city is compelled to incur a cur
rent indebtedness corresponding to
the excess OF the current requirements
over license and departmental reNen-
ues, Such current Indebtedness is in
Cured in anticipation of the teven-
ne from taxes. and in July pf >ach
year = tax levy is made sufficient to
provide for such current debt.
The requirements for the year 1908
and the anticipated revenues have
been estimated and carefully consider
ed IN detail by the committee on cs-
Inmates and apporuonment, ana it is
found that tax levy at the same late
as last year will be insufficient to
meet the requirements unless there
is an extraordinary increase in he
assessed valuation. Accordingly, the
recommendation was made 10 submit
10 tho people the proposition to incur
n bonded Indebtedness of 100000 fer
water ana sewer purposes II a bond
issue h not approved by the people.
improvements must cease and Hn in
crease In the tax levy Is inevitable,
The necessity for a bond isslc or
an increase In the tax levy is shown
by referring to- the auditors balance
sheet OF the revenue funds and the
report OF the committee on estimates
and arportionment recently submitted
TO the council.
AUDITORS BALANCE SHEET.
The auditors balance sheet of rev
enue funds Dee. 81, 1907, shows
revenue surplus Of Si9,0l75l being