The Birmingham age-herald., 1910-04-10
TO THE PUBLIC

TO THE PUBLIC It has come to my knowledge that an unsigned statement attempting to show the financial condition of North Birming- ham on January l, 1910, has been pre- pared and Is ready for distribution.
 This statement is so absurd mislead- Ing and inconsistent with facts that I deem it proper to lay before you cer- tain data bearing on the same subject. and certified to by your city auditor. Re spsctfully, FRANK P. O'BRIEN,
 Mayor. lThe auditors statement follows):
 Birmingham, Ala April g, l9lO Hon. Frank P. OBrien, Mayor, Building. Dear Sir-In compliance with your re- quest. to furnish you with a condensed statement bearing on the financial con dition of North Birmingham, on date of annexation, I have the honor to submit the following:
 ASSESSED VALUATION AND GEN ERAL BONDED INDEBTEDNESS North Birmingham had an assessed val uation on real and personal property for 1909 of s2,340,126, and a general bonded indebtedness of SAP, ,000, or IS 6-7 per cent Of the valuation, which is unparalleled in the United States. In addition to the
  tzed issues aggregating $155, 00O which are on hand unsold and at the present time in my custody.
 PUBLIC IMPROVEMENT BONDS North Birmingham, furthermore, had public improvement bonds to the amount of S1900OO. issued for street and side walk improvements. the cost of which is assessable against abutting property; but on account of very large commission having been paid by the said citys au- thorities, when the bonds were sold, and extensive rebates having been made in the assessments, the total cash in that city's public improvement bond fund, to- gether with the assessments uncollected and accrued, would be insufficient to re- deem the said bonds by over s20, 0oo, were liquidation to take place now. This con dition will be somewhat improved upon now, as Birmingham is receiving interest on deposits of the said fund.
 NOTES AND OPEN ACCOUNTS. North Birmingham had on date of an- nexation notes aggregating s95 16s.7S out standing, besides accrued interest, and open accounts aggregating ss, 332 s2. CASH TURNED OVER TO BIRMING-
 HAM,
 Applicable to general purposes,
 including payment on above
 notes and accounts .......,...... ,927. .S5 Said amount being the balance
 
 ing debt bond fund and de-
 ficiency in revenue bond fund) School grounds and school im-
 provement bond funds, the pur-
 poses of which are explained by
 their names ...................... .s3s SsS. .S3 Electric meter deposit fund (which
 is a trust fund, and belongs to
 the people who made the de-
 posits) .--.--...................... 542. 20 Public improvement bond fund
 (see my remarks under head of
 public improvement bonds) ... .SS3, ,7S5. .56 UNCOLLECTED GENERAL REVENUE While the books of North Birmingham show that the uncollected 1909 taxes amounted to s3,613.9S, and back taxes to e4,347.S0. the collections will fall snort of these amounts very considerably, owing to the miserable way the books were han dled and Irregularities in the certiication of delinquent taxes to the register in chancery. No other uncollected general revenue of any consequence.
 REAL ESTATE AND OTHER PROP
 ERTY.
 While North Birmingham had good deal of real estate and a water and light plant and other property (the value of which will be appraised by disnter- ested real estate experts), same cannot be taken into consideration when the question on hand is paying debts.
 If it were possible to realize on the uaid property the proceeds would fall way short of redeeming the general bonds.
 GENERAL REMARKS
 North Birmingham had been hopelessy fnsolvent for some time, and it was get ting worse every day: the only way the city managed to keep afoat was by is- suing bonds for special purposes and us- ing part of the proceeds for general pur. poses.
 This circumstance Is, of course, to 6 great extent responsible for, the heavy indebtedness, with so little to show for it This citizenship of North Birmingham should especially support the proposed bono issue inasmuch as it will receive more benefits from having become par of Birmingham than any other municipal ity coming in on January l.
 cannot conscientiously sign thi' statement without commenting the for mer treasurer of North Birmingham MT c. V. Hoover, to whose integrity an( backbone 1t is to a great extent attrib utable that conditions were not an! worse than they were. Yours very truly
 Yours very truly,
 c. S. PETERSEN, City Auditor. The State of Alabama-Jefferson County Before me, H. S. Ryall, a notary publ in and for said county and state, per sonally appeared C. S. Petersen, who being by me first duly sworn, deposes ant says that he is and has been for the pas year the auditor of the city of Birmng ham; that as such auditor he has ha' charge of the check and audit of tn books and records of the city of Nort Birmingham at the time of the annexa ton of said city to the city of Birming ham, and that the foregoing statemen was dictated by him from original dat arrived at in this said audit, and that tn facts recited are true and correct, to tn best of his knowledge and belief.
 fSiened) c. S. PETERSEN. Subscribed and sworn to before me thi the 9th day of April, 1910
 (Signed) n. 5. KY ALL.
 Notary Public.