The morning journal-courier., 1908-07-31
Demand Certificates Held by
Local Banks in Anticipation
Of Taxes Will Be Paid
To-day.
COST CITY ABOUT $4,000
No Decision Yet Reached on Pay.
ment of Patrolman Landy-
Health Board Transfer
Held Up.

The city Of New Haven today will
clear up about s421, 900 worth of demand
notes which have been issued In antici-
patton either Of the taxes which are
now being collected or Of the bond is
sues which have just been sold. These
are all notes issued to be recalled
whenever the city is able to do so and
the interest rates upon them are higher
than the more permanent loans so that
the city has been paying rates Of from
AIS to 6 per cent. on these Issues which
under the circumstances is considered
very favorable. The issues are all un-
der seven months old those which were
made In anticipation Of bond issues be-
ing the oldest and dating back to De-
Icember while some of the notes In an
ticipation OF taxes are only two to
three months out. Controller Rowe
brought the matter up at the meeting
of the board Of finance yesterday and
by the approval of that board of his
measures for their payment the pay
ment has been authorized and will be
made today. There will then remain
only about $4,000 OF these notes still
unpaid and II is expected that these
can be paid next week so that the city
will be cleared OF these unfavorable
burdens.
BY the arrangement by which taxes
for next year will be payable January
l now instead OF August the city will
no longer have to issue these high In
terest notes in anticipation Of taxes
and will thus save around $4,000 a'year
which represents the average interest
charges. All these notes which are to-
be paid or today are held by local
banks.
Although the board OF finance dis
cussed the I.andy petition again at the
session yesterday afternoon and In fact
talked informally over 1t for nearly an
hour they came no nearer a settlement
and have not even get definite date
for the final action. The members have
not yet made up their minds on the
matter but It is quite evident that the
payment will have opposition anyway.
A transfer of $500 which the board Of
health asked for was tabled because It
is the opinion Of the board that when
a transfer Is asked the department
asking It should not only send in a
brief request to that end but should
also send representative to the board
of finance to explain the matter and
answer any questions the members Of,
the board may have to ask. In order to
have the health board do this the mat.
ter was tabled yesterday
The long planned trip OF inspection
of the fire, police and other city de-
partments which the members agreed
upon in order that they might have de-
finite knowledge Of conditions before
they acted upon the estimates is to be
held on Tuesday. The board will meet
at 1 o'clock and after lunching will
start out to spend the afternoon TAX
ing In the town.
The communication of the Associated
Civic societies asking that the board
of finance appropriate $500 extra next
year for the vacation schools and play
, grounds was read and tabled until the
estimates are considered The COM
munication states that the extra money
: is needed on account Of the large in
crease of children who are taking adj
vantage of the schools and the need
: for new materials and repairs.