The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-19
COMPROMISE PLAN
ADOPTED BY BOARD
Original Bond Issue Ordinance Withdrawn and
New Scheme Approved Under Suspension
of Rules-Other Matters.

unanimous approval was given by
the Board of Aldermen last night to
the compromise plan for the issuance
OF street bonds proposed by Chairman
William II. Adams. of the Street Com
mittee. Alderman Gunst. patron Of the
original resolution. giving 1t his full
approval. Under suspension of the
rules two resolutions were adopted as
presented by SIr. Adams. the first in
structinG the Committee on Finance 10
report a plan for financing an issue
OF S1.000.000 of twenty-year bonds to
be used for street improvements, to
cover the cost OF work, list of
which. with estimates. is TO be fur
nished by the Committee on Streets.
the bonds to be sold necessary over
a period of Ave years. The companion
resolution instructs the Committee on
Streets TO prepare list of proposed
aEgregating 100000. the work TO be
provided for, from the proceeds of
bonds according to an ordinance to
be reported by the Committee on
Finance.
Got Into Deadlock.
Mr. Adams said that II appeared that
the tow branches of the Council had
got into deadlock over the ma tier
of street bonds; that there was friction
between the Street and Finance Com
mittees,, leading TO talk about mil
i lSi riders" opening Jack
sions. He said that he had been as
sured that his plan met all the objec-
tons raised: that street improvements
should be made from twenty-ycar.
not thirty-four year bonds, and the
bonds should he sold from year to year
as the work progresses, without en-
barrassinG the city's credit. He be
whatever in either branch to the com
promise. having been assured by mem
bers OF the Finance Committee that
mittee. he said. would furnish list OF
improvements to be made, similar 10
the list OF sewers adopted in the bond
Issue for that purpose. Other work not
listed could then be carried out from
year to year from the annual appro-
priation for streets.
Mr.. Gunst asserted that the Adams
plan for short term bonds, sold as need
ed for carrying out a DEFINITE plan OF
In fuller detail what he had intended
to effect in offering the original prop
osition.
Jealous OF City's Interests.
The views OF Mr.. Adams, he said. were
entirely in accord with his own. and
the objections of the Finance Commit
tee having been met, he believed the
proposition would meet no opposition
Replying to some assertions made in
the other branch OF the Council. Mr.
in proposing a bond issue for streets,
were as jealous OF the city's interests
and credit as the Committee on FL
nance. and had no desire TO push the
sale OF bonds beyond proper bounds or
to flood the market with the immediate
sale of so large sum. The Adams
resolution, he believed. would accom-
plish the purposes proposed and sim
plify procedure. allowing the proposed
ordinance issuing long term bonds for
the bridge, schools. Ford site and other
purposes OF more permanent invest
ment character to go through as rec
commended There was no jealousy, he
asserted. the plan for comprehensive
street improvement being big enough
and broad enough 10 give glory to all
He did not agree that the city was as
close 10 its bond limit had been rep
resented or that adoption both OF the
Adams plan for streets and the pending
general issue recommended by the FL
nance Committee would in any way en-
danger the city's credit.
He expressed himself as entirely on
posed 10 the ward distribution OF street