The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-12-14
THE CITY'S DEBT.
Will Be Discussed Tonight as
Well as Naming Streets.
Council Session Promises to Be
Interesting.
observation-disclosures
Division of Opinion as to Method
of Paying Them.
Some of City'S Bonds Have Been
Refunded Often.
observation-disclosures

The street naming trouble will not
be the only fighting attraction at the
city council tonight. Since the report
from City Attorney Dreaming to the
effect that the city should pay off the
electric light bonds of $4,000 at the
end of ten years and not allow them to
run twenty years as was ordered by
the council, there has, been all kinds
of sentiment worked up at the city
hall and over the city. Two parties
have lined up their forces for and
against the bond proposition and to-
night the matter will be threshed out
to a final finish. Mr. Dreaming and his
strongest supporter, Councilman Jor-
dan from the first ward, contend that
this refunding of bonds practice in
which the city has been engaged ever
since its Incorporation should be stop
ped as soon as possible. They say
that If the electric light bonds are al
lowed to run 20 years with the four
electric light plant will cost almost
twice as much as the original cost of
construction. Their idea is to pay off
the bonds at once, or within ten years
at the very longest. They say that
this will save the city $4,000
However, the other side of the ques-
ton as supported by City Treasurer
Hale has its strong points and if the
matter as presented by Councilman
Jordan will fall through. Mr.. Hale
gives out the information that at the
present time Topeka has a bonded
Indebtedness of s1.2OO.OOO. None of
these are improvement bonds. This
isn't so bad, but today the city owes
$3.50. 100000 in bonds alone which does
not include the water bonds. In 9TH
er words the city has over 100000
bonds due this very minute and at
per cent. Added to this there are
$4,000 worth of bonds. due in 1910,
100000 due in 1912 and $4,000 in
1913 A total of $253,O 900 worth of
bonds due in four years. These bear
per cent interest and are costing the
city $4,000 a year interest. And the
taxes of the city are as high as the
people will and can stand.
Now comes the proposition-can
the city afford to pay off the new y
per cent bonds for the electric light
plant when there are thousands of
dollars due bearing 5 per cent inter
est? This is the well founded argu-
ment used by the city treasurer and
the city clerk against the new bond
issue.
The worst feature of all these old
bonds is that have all been refunded
three and four times each. 1t is argued
that it is utter folly to allow these
bonds. which are due in four years, to
be refunded for the fourth and fifth
time. 1t is true that the city would
save a large amount of money on the
compete payment OF the new eleCtTlC
light bonds but is Topeka in condition
to pay these and allow the others to
go on at rate of per cent and pull
ing $4,000 year from the city. The
new bonds would cost but $500 at
the very most and they would save
$4,000. If the interest on the old
bonds were saved it can be seen that
the profit from the new bonds would
be equaled in two years-where, |
on the other hand the whole ten years
would save but 5000.
With all the arguments there is
room for a fight on both sides and it |
will come to a head at the special !
meeting of the council tonight.
Taken all in all there are four or
five blocks of sidewalks along Kansas |
avenue that should be condemned by |
the city and required to be renewed" |
In a discussion concerning the side |
walks of the city, Engineer Rogers |
made the above statement this morn !
ing After thorough investigation |
it was seen that in front of some |
numbers on Kansas avenue there |
were sidewalks constructed of wood, |
stone, iron and brick, all in bad con-
dition In other places there are side
walks of huge blocks of stone which !
resemble the ruggedness and abrupt
ness of the Grand Canyon. Unless a
person is a high stopper it is, impos-
sible to navigate over this sidewalk |
without stumbling and falling, As far
as the general appearance is con-
cerned this is disgraceful. A birds-eye
view of the sidewalks along Kansas