The Birmingham age-herald., 1911-05-29
LANE DISCUSSES
 THE BOND ISSUE Says Voters Will Be Well
 Informed CONFERENCE TODAY City Attorney Boyd Will Meet With Commissioners = Election will Be Held at End of Adver-
 Using Period

Although the commissioners will not meet today in formal session they will hold an informal meeting and go over the details of the proposed bond issue. So much was given out by Commis- sioner A. o. Lane yesterday when dis cussing the bond issue proposed to be for $1,500,000. He added that the city attorney, Capt. Romaine Boyd, Com missioner Weatherly and himself had gone over the laws relating to bond issues and decided that they could have the election immedlatels, after the legal advertising period had passed.
 The discussion this morning will be held with all commissioners present and Captain Boyd. city attorney. The three officials charged with relieving Birmingham of her financial emhar- rassment are keenly alive to the fact that the sooner the issue is voted upon the better it will be. not alone for the commissioners but the people gen. orally. It Is stated that there will be issued a most exactng and minute statement of what will be done with the money secured by the issue and into what funds 1t will be placed for ex- penditure.
 In speaking of the issue yesterday Judge Lane said:
 Judge Lane Talks
 q cannot reveal the entire details of the bond issue proposition just now. However, will say that Commissioner Weatherly, Captain Boyd, city attorney, | tba sition thoroughly during the past two days and have concluded many things in connection with it. However our official conference will be held this morning when President EXum will be on hand to give us the benefit of his knowledge of financial affairs. It is our present intention to call the election as | soon as possible"
 l Judge Lane gave six succint state ments relative to the issue as follows:
 "1. The citizens shall know every detail of the issue.
 "2 The voters shall be the judges of the proposition.
 "S. The proposed issue will be thor oughly advertised. | A. I have no doubt in my mind that | the issue will carry.
 | "5. I have the utmost faith In the people.
 "6. They will know that we did not create the deficit"
 Old Regimes Work
 Judge Lane, in speaking of the bond issue yesterday in an informal manner, said he believed the people of Bir- mingham would indorse the request and that they would realize that the finan- cial situation was the handiwork of a regime which had been utterly re- pudiated by the people when they voted for a commission form of gov | ernment.
 | "We will give every opportunity for the voters to become well informed of this proposition,' said Judge Lane in addition "A statement will be formu- lated to the voters showing what the money will be used for and this will be published for general information. The voters in considering the question will find that the situation that exists in 1he city affairs Is the making of oth- CTS than the commission and they should certainly render us the co-oper- ation we seek and vote. for the issue we ask The commissioners have | tremendous task before them in hand ling the city affairs properly and, believe, will be assisted by the voters.
 "rhey will certainly know that we will move heaven and earth to remove the deficit of our city, and will try to keep it removed once it Is done away with Personally I have the utmost faith in the judgment of the people of this city, and I do not hesitate to say that the bond is- sue in my judgment will carry safely. l do not believe that 1t will be advisable | to await another tme."
 The statement of Judge Lane relative to publicity of the intention of the com missioners and their desire for full light upon the bond issue and all the details is a reflection of the opinion of the other commissioners. It is stated that the gov erning body of Birmingham realizes the seriousness of the request and will ask the voters and citizens to enter fully into the details and get at the correct so- lution on a common plane.
 Conference Probably Today
 The city officials will perhaps have their conference on the bond issue this morn ing. That is the prevailing belief. and as some of the details have been worked ont. it is believed that there will not be any great delay in getting the issue before the people
 Should the bond issue carry, and the general opinion is that it will, Birming- ham will perhaps receive one of the best premiums ever given Birmingham bond. It is stated that the issue will be for 10 years. and that every energy will be ex- pended not only to retire the present in I0ebtedness, but to so operate the city | government as to induce an income suf- l ficient to retire all the bonds of the city m the length of 10 years. However. no | official statement as to such an effort | has been made.
 | The splendid financial credit of the city is said to be responsible for the opinion | that premium will be received higher than ever before for local bonds.
 Five Per Cent Bonds l The bonds will bear per cents and will | be in small denominations There Is disposition to permit the home investors | to have the first bid at the issue should l it carry and such intention may be | part of the commissioners. | The bond houses throughout the country are watching the bond issue pending here and are saia to have representatives in Birmingham now studying the will of the