The herald and news. [volume] (Newberry S.C.) 1903-1937, 1909-01-05
SINKING FUND COMMISSION.
Report to Newberry Delegation Show
ing Work of Commission for
The Year.


Sinking Fund commission for New
berry county TO Newberry'S repres-
entatives in the general assembly:
Hon. Alan Johnstone, Hon. c. 7.
Wyche, Hon. Arthur Kibler and Hon.
Godfrey Harmon, Members of the
General Assembly for Newberry
County.-Gentlemen: In accordance
with the provisions of an "Act to Pro-
vide for the Appointment of a Sink
ing Fund Commission for Newberry,
or Number One Township; Menden-
hall, or Number Eight Township;
Stoney Battery, or Number Nine
Township, and to Prescribe its Pow
ers and Duties," approved the 9th
day of February. 1908, the officers
named in the said Act met on the
9th day Of February, 1908, and Or
ganized by the election Of J. Monroe
Wicker. county supervisor, as chair
man. and Fred. H. Dominick as sec
retary.
The commission found that there
fas due and owing by Number One
ITownship for c., n. & L. R. R. bonds,
SIC. 900, $4,000 Of which will not ma
ture until Jan. l, 1913. Of these
-bonds. $4,000 has been retired by the
commission, which resulted IN con-
sequent saving of interest on these
bonds Of $4,000 per annum.
The commission found that there
was due and owing by Number One
Township for c.. n. & L. R. R.
bonds, $4,000. $1,000 Of which will
not mature until Jan. l, 1911. Of
these bonds. $1,000 has been retired
bv the commission. which resulted in
: the consequent saving Of interest on
these bonds Of $4,000 per annum.
The commission found that there
was due and owing by Number One
Township for Augusta. Edgefeld and
Newberry R. R.. Commonly known
IS 3 Cs.) bonds $4,000, bearing inter-
est at the rate Of seven per centum
per annum. Of these bonds, $4,000
has been retired by the commission,
which resulted in the consequent say
ing of interest on these bonds OF
$4,000 per annum.
The commission found that there
was due and owing by Number Eight
Township for Augusta, Edgefield and
Newberry, R. R. Commonly known as
3 Cs.) bonds $4,000, bearing interest
at the rate Of seven per centum per
annum. Of these bonds, $500 has
been retired by the commission, which
resulted in the consequent saving OF
interst on these bonds Of $500 per
annum.
It will thus be seen, that there is
still outstanding Of Number One c.,
n. & L. bonds. $4,000: Number Nine
| c.. n. & L. bonds, $4,000; Number
!One 3 Cs., $27.400; and Number
Eight 8 Cs., $4,000; and that by the
payment and retirement Of the above
named bonds, there has been a total
saving Of S95300 per annum in inter-
est.
The entire eypensas of the commits
sion for per diem and mileage of
members and secretary, books, blanks,
stamps, stationery, etc., for the year
1908, amounted to $1O0.26, which
amount being deducted from the
amount Of interest saved, leaves q
net saving Of $95274 per annum on
account Of the work Of the commls-
SON.
There is now levied township tax
Of one-haIf mill for the first named
bonds: two mills for the second nam
ed bonds; one and one-half mills for
the third named bonds; and three
mills for the last named bonds, all for
the payment of the interest and prln-
cipal Of the said bonds.
Including the amounts now on hand
and the amounts to be collected for
the year 1908 as a result Of the above
levy. there will to the credit of the
various township funds, after the
payment Of the interest aecruing OF
the first day of January, 1909. the
following amounts, Approximately
Credit to the first named bonds
$4,000: the second named bondS>
s22OO.OO: the third named bonds,
:: S2300.00: and to the last named
bonds $11O0.OO: and if these credits
are applied to the outstanding bonds,
!, there will leave due and owing the