The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1912-10-25
C|TYOOCKSSELF
SUPPORTING IS
CLAIM OF SEC'Y.
Mr.. HENDERSON PREPARES AR
TIcLE TO SHOW BOND ISSUE
PROPOSED SHOULD NOT IN
CREASE TAXES.

That there may be no misconcep--
ton in the popular mind as to the
purposes of and sources of revenue
from q municipal dock, Secretary Le-
land ]. Henderson, of the Pensacola
Commercial Association, has prepared
the following article. It presents very
concisely the plan for opera ton of
the docks and attempts to remove any
impression which may exist that
bond-issu for the construction of the
dock and connections would increase
taxes.
Mr.. Henderson has submitted the
following article:
MUNICIPAL DoCKS-wHAT ARE
THEY AND WHAT WILL THEY
COST THE PEOPLE?
It Is not clear to every one what is
meant by municipal docks. If the
ordinance introduced in the city coun-
ell last night is passed and bonds
voted, the docks and switch connec-
tions between the proposed docks, ex-
listing docks, railroads and industries
will be constructed. owned and oper-
ated by the city of Pensacola in the
same manner as the city water works.
When the docks and switch connec-
tions are completed, the mayor. with
the approval of the city council, VIII
employ a manager who has had ex-
perience in the operation of docks,
who will have charge Of the docks
and switch connections the same as
tie superintendent of streets or su-
perintendent of water works.
Many people are laboring under the
idea that If they vote for bonds they
will have more taxes to pay. This
is q mistaken idea. The docks and
switch connections should earn more
than enough money to pay operating
expenses. interest on bonds, and pro-
vide for the sinking fund to pay off
the bonds when due.
The main reason for issuing bonds
is to supply the people who buy these
bonds security for the money. None
of the banks in Pensacola will loan
money unless they have security. In
cases of this kind, there is no other
way to supply satisfactory security
to investors than to have the city %
Pensacola secure these bonds.
AGGREGATE OF 10000 TONS.
The docks proposed to be construct
ed can accommodate at one time, ships
with an aggregate tonnage of thirty
thousand tons. An average modern
carload is about ten tons per car. Il
/ would therefore, require three thou
sand carloads to load these ships. II
they come in loaded to be unloaded,
It would require three thousand cars
to handle the incoming freight or six
thousand cars all told. The switch
ing charges alone would be twelve
thousand dollars, at an average rate
of two dollars per car. The dockage
| charge would amount to from one
hundred to one hundred and fiftv dol
lars per day. The average time these
ships could be expected to unload md
load would be about ten days. At this
rate. the earnings from switching and
wharfage would be more than one
thousand dollars per day, or 1850 600
per year.
The average expense covering OPP
Grating expenses. interest on bonds
sinking fund depreciation fund and
miscellaneous expenses, will be about
$50 per day, or $4,000 per month, or
| $4,000 per year. It will. therefore,
be seen that docks and switches will
| meet all obligations if enough ships
dock to aggregate five thousand tons
instead of thirty thousand tons.
You can cut down the possible ca
pacity of the docks six times and still
earn enough to meet all ooliga ions.
| The highest and lowest averages given
are extremes A conservative esti-
| mate should most likely be based on