Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1911-04-12


WITH spencer' paper 81 ins hand they|
have not left me . shred of reputa-
ton. Neither the Tribune Of the
Gazette paid any attention to Spen-
Ger. and this is taken as an addi-
tional proof that Spencer is right,
and that you folks down there do
not dare to say anything against
his Interpretation Of your last tinan-
cial statement. =
Does Spencer sell lies and false
hoods about his home city to the
liquor element for use in their fight
in other cities? Or is he trying to
make himself SO odious that people
will buy him out at a big price?
People at Willmar generally treat
his sheet with the contempt it de-
serves. but unfortunately people of
other towns do not know what a
low down and unprincipled fellow
he is. and when they see Willmar
paper containing such statements
as those copied by the News-Ledger
they place some credence in the
same. For their benefit we will
state few facts from the published
financial statements of the city.
which Spencer deliberately misrep-
resents.
First, instead of running at a
loss, the net gain of the finances of
the city for the past year. as stated
in said statement, is So, 312.92.
The total liabilities, as taken
from the balanced statement
amounting to $164, 1887. includes
the city's net investment in electric
light plant, water system, sewer
system, library, fire apparatus. etc.,
etc. which is placed at 1872. 725. 40.
The $17.187.21 due the electric light
and water department owned by the
city are of the same nature as un-
divided profits. If the city paid
this amount, it would have that
much larger surplus in the water
and light fund. It is both liabil'
ity and an asset. Would any sane
person attack the credit of a banl
) because it has large paid-in CAPT
tai. a large surplus or large amount
, of undivided profits? Yet ever,
| bank statement lists these items al
liabilities of the bank. Had Spen
Ger attacked some bank in the same
, manner that he attacks the credi
> of the city in which he lives h
would perhaps more speedily hav'
received what he deserves, but al
long as it is the city as a whole, N
= one feels like going after him TO
E the same reason that one hates t.
bother with a polecat.
t Instead Of borrowing $1,000 Of
tax certificates for the purpose o
paying off this years bills, as Spen
Ger falsely asserts. the city re
. newed that much of the $4,000
). in certificates issued last year, thu
d reducing from the general fun
j. this obligation by $500 this year
u These tax certificates are an oil
matter which has been renewed fron
e year to year since 1902. When tn
E old village organization gave wa
y to the city organization. the latte
/. issued $4.950 in tax certificates i
= order to begin business in compli
e ance with the new city charte
;. which required that the money mus
= be on hand before bills could be in
!; Cured. The city loans this none
to itself from the sinking fund
Instead of wiping out this obliga
tion at one time by added taxes
the city has preferred to carry i
/ along and reduce it from time t
time.
1t is true that the city owe
$50 900 in bonds. thirty thousand o
| which are funding bonds, whic
were issued at the close of the lon
saloon regime to take up outstand
ing village orders. Of the fit
thousand, $4,000 are charge
against the city municipal plant
which pays the interest On tn
same. But it is also true that owe
$40, 900 have accumulated in tn
sinking fund to pay bonds wit
when they become due, which re
1 <lo l2~le - h. ,oosl e.