The Evening standard. [volume] (Ogden City, Utah) 1910-1913, 1910-12-13
nonmunicipal

I and If nnot, ono for nonmunicipal
| uses.
Public trust funds for municipal
uses are established for objects of
charity, education. pensions, and
other public benefits. or the los cit
les having population of over 10000
in 1908, 1l2 reported SD of these
,unds. or these funds 141 were for
pensions of city employees, 106 for edu-
cation. 80 for hospitals, and sc for
other objects. The assets of these
funds at the close of 1908 amounted
! tn S64 4.3SS.0S6. of which S5S,96S.S3o
was reported by cities of over 100000
population. The assets in Philadel-
phia amounted TO s2S,367.S17, in Chi
cago TO 1851. 1877. In Boston to S3,-
cog, $780, In St Louis 10 $2,Sl1,0 ,021; In
New York to $2.i6o, ,203 : and In Gin.
cnnat to S2.O32.OSl.
The assets OF the Girarj funds in
Philadelphia, the income of which
is applied TO charitable and educa-
tIonal objects, amounted TO total OF
SIS 5,573 600
Public trust funds for the use OF
libraries are usually for the purchase
OF books or the 1913 funds for IL
brarles. "a were In Boston, Mass.
Trust funds for charitable uses are
most numerous in Philadelphia. Bos-
ton. Chicago. Philadelphia and Cam
bridge. All Of the 80 hospital funds
were reported by cities In Massachu-
sets, II being in Boston and II In
Worcester
OF the total assets OF these funds,
$15.167,S67 consisted of Investments
-, ~ - h. cifioo rannTf-
ing the funds: $45,663,752 Of real es'
tate and securities OF their own city
and OF other cities: and S3,44i,461 OF
cash. The receipts from interest and
other earnings amounted to $3,41TOlT.
which is equivalent to return OF b.3S
per cent on the average amount or
assets held during the year.
OF the 15S cities comprehended by
the report, only 25 reported funds for
noDmunicipal uses, Is of which were
in Massachusetts and In the other
New England states. The purpose OF
nearly all of these funds is the care
OF lots and graves In cemeteries In
perpetuity. The total assets Of the
funds at the close OF 1908 amounted
TO 81, ,620,054.
The Ratio Of Debt to Value.
In this report the Bureau OF the
Census endeavors to make comparl-
son between the value of salable pub
lie properties In cities and the out
standing debt incurred In the ac1uisi-
ton OF construction Of such proper
ties. The properties included consist
of land, buildings. and equipment OF
departments: lands, buildings, and
equipment OF municipal and public
service enterprises; and miscellaneous
real property.
The total estimated value of these
properties in 1908 was S7,738, $4,000
and the debt outstanding against them
approximately 81 ,213 100000 The ra-
Ito OF debt to value was. therefore,
81 per cent The ratio of outstand-
ing debt, issued for land, buildings,
and properties OF departments to the
present value OF such land, buildings,
and properties. was 42 per cent; the
corresponding ratio for municipal ser
vice enterprises was Al per cent. and
for public service enterprises, approx
mately 81 per cent. From all tho
facts considered, the inference may be
drawn that somewhat more than one
half OF the reported valuation Of all
paid for by the cities from revenues
received,
OF especial interest is the ratio be-
tween debt incurred for water-supply
systems and the reported valuation
of such systems. The valuation re-
ported for 1908 was $500 900 600 and
the debt outstanding 1912 900 900. or
ASP per cent OF the valuation. The
corresponding ratio for 1907 was 1876
per cent The ratio between the debt
OF the water-supply system of New
York City and the valuation OF the
system was COZ per cent. Over one
fourth, or 269 per cent, Of the total
debt incurred for this class OF public
service enterprises is shown for this
city The debt outstanding against
the water-supply systems OF San
Francisco, Cambridge. and Atlantic
City is In excess of their valuation