The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-31
OFFERS new PLAN
FOR STREET BONDS
Finance Committee Will Endeav-
or to Unravel Tangled
Situation.
soUTHsIDE IS INTERESTED
New Sewer Will Soon Empty
Above Old Manchester In
take Pipe.

Serious complications over the water
supply of South Richmond may resul,
from the delay in the City Councils
handling of bond issue proposition
for the past three or four months
Within six months the drainage OF
large part OF Clay Ward will be empty.
ing into the river above the intake
pipe OF the old Manchester Water
Works And vet no funds have been
provided with which to connect South
Richmond with the main reservoir sys-
tenn and settling basins Another COM
pication likely to result will be that
the city will default OH its promise
TO give South Richmond gas within
two years from the date of annexation.
Even were the bond issue now avail
able, the gas holder and mains could
hardly be completed by next April Is.
Money is lying idle i'll the treasury TO
Improve South Richmond streets. which
cannot be expended because the sew
ers and underground pipes have not
been laid. And the city is borrowing
from the banks to meet payments on
the new Mayo Bridge. for the Ford
site and for the new public schools.
because the bond issue has not been
agreed upon.
Cause of Delay.
The delay is que to efforts OF mem
bcrs of the Board of Aldermen to put
through bond issue for streets or
the shoulders of the other proposition
1t is believed now. however. that a sat
isfactory plan has been worked out
which will accomplish all the purposes
proposed. including the streets, but the
slow formalities of Council action will
make II several months yet before the
actual money for the projected enter
prises will become ayaila bic.
For year past a general bond issue
TO carry ont some of the items of the
annexation agreement has been in con-
temptation. When the annual budget
was made UP the School Board was au-
thorized TO expend 100000 on new
schools this year. the money to be pro-
vided from the sale of bonds: the block
on which Ford's Hotel is located has
been purchased by the city at cost of
Sl6S.oO0. The site and franchises OF
the old Mayo Bridge have been ac-
CURED and contract awarded for the
new bridge which is now under way.
What Was Proposed.
Several months ago the Finance
Committee reported a general improve
ment bond issue OF sl.400,O00 to pay
for the bridge, the new schoolhouses and
sites, to buy the Ford property, to re-
tire certain outstanding 5 per cent
bonds of the old city of Manchester,
and to provide sewers, water and gas
Tor South Richmond. All of the items
mad already been agreed upon and
voted for by the Council 1; was only
question of financing them. The
Council adopted The bond ordinance. but
in the Board of Aldermen efforts were
made 10 amend it by adding $1,000. 900
for streets. The proposition has gone
from one branch to another until II has
become hopelessly tangled. and IT has
become evident, in the opinion of many.
that no bond issue could be noated
with so involved record. The III
nance Committee therefore is preparing
TO start all over again. and will this
week report new ordinance similar
to the first.
In the meanwhile those who fought
Tor the street amendment have agreed
that II is poor financing to issue
thirty-four- year bonds for street i'm
provements. the life of which will he
ABOUT hfteen or twenty years, and that
1t Is bad policy to depress the market
by large sales of city bonds. merely
to have the money lie idle in bank for
years until the work has been planned
and executed as was the case with the
sever bond issue. nearly half of which
is 6ti1 in bank Conservative mem
bers OF the Council have no idea OF
turning over to the Street Committee
Sl,ooo,OOO for general ward division
on the plan by which the annual appro-
prlation for streets is divided, when
any four wards north of the river
might combine to squeeze the other
three, regardless of the needs of the
city at large.
The New Program.
If the program now tacitly agreed
upon is carried out without amendment.
leaders of the Council. including those
who first proposed the street bond is
sue. believe that all of the purposes
sought will be attained without diff
Guilty. The Finance Committee will re-
port practically the same ordinance as
before, providing for the bridge.
schools. Ford site, gas. water and sew
ers and other purposes itemzed. and
the bonds will be issued as soon as
possible Then the Adams Gunst res
olution will follow, instructing the FL
nance Committee to report a plan for
Issuing sl.00O,000 in twenty-year
bonds. to be sold during period of
five years, the Street Committee to
furnish definite list of the work 10
be done, with estimates of cost. so that
the Council and the city will be put
on notice as to where the citizens
money Is 10 be expended