The Barre daily times. (Barre, Vt.) 1897-1959, 1913-04-16
For Barre's Sinking Fund,
Now Amounting to
About $4,000
NO ACTION TAKEN
BY THE ALDERMEN
Board Refused to File City
Attorneys Report on Two
Complaints


Bids on the deposit of Barre's $32 ,0O0
sinking fund were submitted by three
local banks to the chairman OF the al.
dermanic finance committee and the city
treasurer ana opened last night at the
regular meeting of the board of alder
men. On the motion of Alderman Kceie,
the proposals as forwarded by the Gran
ite Savings Bank & Trust Co., the Peo
pies National bank and the newly or
ganized Quarry Savings Bank g. Trust
Co., were referred to the finance com.
mittee. The substance of each bid rs
read by the clerk when unsealed is Civ
en- as follows:
Granite Savings Bank 4 Trust Co.:
| referring to your advertisement ask
ing for sealed bids for the use of the
city of Barre sinking fund at this time
amounting to nearly S32 900, and which
amount will probably not be disturbed
until May /, 1916, we hereby agree
to pay interest at the rate of Az per
cent. per annum on the sinking fund
if the same is deposited in this bank.
| interest to be payable semi-annuallv if
| desired, Granite Savings Bank g. Trust
Co., by Ii. g. Woodruff, treasurer
Peoples National bank: Referring
to your published notice asking for bids
on the city of Barre sinking fund OF
about $4,000. The bid Of this bank
is at the rate of AGO per cent. per an
mum, payable semi annually on Sl0.00u.
$4,000, or the whole amount, C. w.
Melcher, president"
Quarry Savings Bank & Trust Co.:
Referring to your request for bids for
the use of the sinking fund OF the
city OF Barre, would state that we are
at loss to know exactly what you
would expect regarding the time whith
you propose to ask for bids on the
funds.
|. AS you state that they probably
will remain until 1916, and i'm view OF
the uncertainty of the length of time
for which you desire bids, we submit
the following propositions, namely
I'VE viii pay you at the rate of 50t
per cent. interest annually, payable on
demand, this to include any funds that
may be added to the sinking fund dur.
ing the year 1918, and any further
sums that may be added to said sink-
ing fund thereafter as long as this bank
shall remain depository of the snls-
ing fund. ~
II. "We will give you SOC per cent.
interest annually, payable on demand,
for said sinking fund and such addi-
tions as may be made up to and in
Guiding September /, 1913
LII. we will pay you 4.76 per cent
interest annually, payable on demand.
for said sinking fund and any addition
hot l,,, 10 4
1916; thanking You for your courtesies
in the past, we remain, Quarry Saw
ings Bank & Trust Co., +. G. Rowland,
president"
City's Liability.
To large volume of business trans
acted was added rather lengthy anu
discussion over an opinion
which the city attorney recently hand
ID down on the liability of the city for
lamages caused by the overflow of Stew
ms branch to the property owned by
Brown, Carroll 4 Co., and the Peoples
Lighting, Heating & Power Co. The
opinion was submitted to the council
Il meeting in March, when a report
rom the street committee, based on
he city attorneys opinion, made un
ayoTable recommendations on the re-
Iuest of the companies aforesaid fer
laInages from the city. In the opinion
eference was made to the cty's pur~
'ose in acquiring land now owned and
occupied by the Brown Carroll Co, the
ity attorney declaring that il was orig
nally bought by the council to avoid
aging land damages. Others, includ-
ng the city clerk, held through two
uccessiye meetings, that the purpose,
owever stated in the opinion, had no
caring OH the point at issue. Objee-
ion, however, was raised as TO the iil-
lg of an opinion in which. it was al
,ged, an erroneous statement had bcen
Conversation apropos the clause un-
er fire waxed warm at times, as il
ad waxed at a previous meeting. i. g.
owland, who was present at the SOS
on, was interrogated and he sustained
le clerks contention that the city had
different purpose in acquiring the
md After the much mooted ques-
on had been put through the traces
II a half hour or more, Alderman Ban
oft called for the yeas and nays on
question a. to whether or not the
,iniOn should be placed on record. The
.sponse was given as follows: Mo-,
ldermen Hoban, Bancroft, Keefe AMI
rown; yeses, Aldermen Patterson and
awsOn. The opinion, twice referred
ck to the street committee and thenae
the city attorney, was thus deprived
a niche in the vault at city hall.
Then followed a question as to what
oud be done on the request of the
20 companies mentioned. since .hs
rect committees report had been au-
declared null through Che
ards refusal to accept the opinion.
derman Bancroft's motion that the
quest be left on the table was car-
u.
Removal Of Garbage.
for the fire committee. Al
rman Bancroft told Of a consultation
tn the Barre Merchants association.
,mbers Of which had asked for SON
-ence with the committee Of the whole
consider a proposal to engage some
e 10 remove garbage AMI refuse from
p rear Of all stores connected with
; ASSOCIATION. The request promised
s..- aewsE