The Alaska daily empire., 1914-04-18
Real Estate Valuations
 To Show Big Increase

It is estimated that the tax levy for 1914 will produce a total for both real and personal property of approximate ly $54.OOO and that the total income for the city this year will be SSTOOO. Councilman William Britt, chairman of the committee on assessment and taxation said that he had been trying to familiarize himself with conditions as existing now and compared with last year and had sought information from the most reliable sources avail able and had reached the following conclusions: First, that real estate val ues have increased fully 259o, that there will be an increase of the reye- nues from licenses.
 Last year the real estate was valued at $1,555.O65; personal property at $5lSl7O of which an exemption amounting to S14,OOO was deducted leaving grand total Of S2,O52,5S5, on which levy of S41,O51.70 was collect ed except a few hundred still unpaid. IL is estimated now that the levy on real estate for 1914 will amount to SSS,626 and that the personal proper ty valuation will be increased to $7OO.- % and yielding in taxes approximately Sl5.OOO. It Is estimated that fines and torfeitures will total $4,0OO and that the license tax will yield SS0,OOO. mak- ing a grand total of SS7,OOO as com pared with s7O.6SO last year, This does not include the earnings of the city dock nor the profits to be derived from the municipal coal yard.
 Financial Report.
 A brief report on the financial condi- tion of the city shows a general fund oyerdraft amounting to $34,442.94 with accrued interesting amounting to $1.- 335.5S: a salary fund overdraft of $2,- 627.34 with accrued interested amount ing to S46.7O; unpaid claims amount ing to $6ll.l5 on which the interests amounts to $12.4O; a balance due on coal amounting to SS,369.95. with coal in the bunkers valued at S3,136, leav- ing net indebtedness of S2OO.95. The total defecit amounts to $373S3.72. Interest Bearing Warrants for Claims
 Against City.
 The present city council, following a very long discussion on the financial policy to be adopted. practically agreed to ntinue the system of the previous city council of issuing interest.bearing warrants in payment of all claims ex- cept salary and labor, when funds are not available for the payments of such clai- S, the labor claims are, however, to be raid in cash or warrants convert. ible i4to cash without discount. Mayor Beck said that he was in fa- vor of paying the labor claims but believed that some of the creditors of the city could afford to wait for their money, the lighting company and the water company for instance. For mer Councilman J. B. Marshall was present and upon request explained the plan of issuing interest-bearing warrants that had been adopted by the former council Councilman J. R. Will lis said that it would not be fair that some of the creditors should hold in- terest.bearing warrants for claims against the city. and others be com pelled 10 wait without. recompense un- til such time as the city can pay. Coun- cilman William Britt said it was only fair that if the city wanted something it should do like private citizen, pay for 1t: he was therefore in favor of continuing the policy of the previous administration of issuing warrants bearing interest on claims from the time such claims should actually be- come due.
 Wharf and Coal Accounts Separate.
 A resolution was passed at last nights session of the city council that hereafter the wharf and coal ac- counts would be kept entirely separate from all other accounts of the city and that those institutions would be treat ed as separate corporations.