The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1914-06-05

Fpruperty owners. The mayor remark
en- that there were few houses at
tiiat place and II the request was
granted Il. would put light at
every one OF five adjacent street
corners. whereas II is the rule TO
have a light only at every other
corner In such parts OF town. The
matter was referred to the mayor to
do as he sees at.
Would Make an Exchange.
The attention OF the council was
called to the fact that the Omaha
railroad owned a strip of land along
North Fourth street, which was low
and through which there was a
, drain of the surrounding territory.
The company has bridge over an
alley at the rear end OF the lot.
Councilman Lack thought the com
pany could be induced to pay $500,
and give the city the old board, IL
the city put In storm sewer here,
and filed I'm the lot. The matter was
referred 10 City Engineer Blomquist,
who said he would correspond with
officials OF the company In regard to
this matter. ...s
Mayor A. @. Meyer this morning
submitted to the city council his an
lnual message. The document con-
tains much valuable Information, and
Is as follows:
'iMaukato, Mimi, May 80, 1914
To the Council of the City of Man.
kato, Gentlemen: The auditor OF
our city's books has just completed
and forwarded his report of the
city's finances. Last year I sent you
message calling your attention to
certain details and summaries of the
report then submitted as Section
thirty-eight of the charter requires
me to do, and | believe Il well this
year to again call your attention to
certain parts of the report just sub
mitted. After a years activities I'm
any line II Is always well to pause
for a moment and take q retrospect
over what has been done and ac-
complished and to see whether we
have progressed or refrigerated. Last
year I called your attention to the
fact that the amounts I'm the differ
ent funds were not sufficient to do
the work expected OF each depart
ment and ! seriously urged upon you
the utmost economy and the greatest
care I'm handing the funds OF the
city.
This policy has been successfully
followed by every one connected with
this administration. and Il is with a
great deal of pride and pleasure that
I make the following comparisons OF
/ the funds as shown by the two re-
ports.
1--WE find with satisfaction that our
F, municipal cout Is almost self-sustain-
ing. There is still a balance of
s1,S69.76 on hand as agains last
years balance OF s1.557.50 an In
crease OF $312.26. On account OF
this splendid showing no tax levy
has been made for this fund this
year.
The Sinking Fund.
This fund has a cash balance OF
S316.S2 and investments amounting
to s16.259.64, being a total OF &c.
1884. The corrected balance last
year was s7.s74.S9, an increase OF.
| SS,2S4.75. This increase Is partly
due to the fact that $4,000 was
paid from the general fund TO re-
place investments which were not
represented by assessments due from
property owners. Besides the above
increase $1,000 was paid out in retir-
ing bond. '.. i.''. - .."'''-
II call your attention to the fact
that the sinking fund has not re-
ceived its interest on its investments
since the year 1910. and that this
interest now amounts to s1.290O9.
This sum should he paid to the sink
| ing fund and will make the total
sinking fund balance S17,S6655, an
excellent showing and a fine sum
Of money to have In readiness to take
care OF bonds OF the city coming
due In the future. The auditor calls
cur attention to certain technical er-
rors I'm taking over investments for
the sinking fund. The matter has
been taken up by the city attorney,
, and the necessary corrections will be
made.
Permanent Improvement Revolving
Fund.
Last year the city paid from the
permanent Improvement fund to the
permanent Improvement revolving
fund s5.560.90 TO meet an excess OF
| certificates outstanding There Ia,
however. still discrepancy OF Sc
037.97 which will have TO be met by
the permanent Improvement fund
when possible. No certificates OF in
debtedness should be issued against
any improvements that are not as
sessable. and there will be no discrep-
ancy In the accounts of this fund
The discrepancy above spoken OF
existed at the time this administra-
! ton. went into power. The revolving
fund has by the payment above spo-
ken OF been Increased by s5.5s09o.
| Permanent Improvement Fund.
! The total resources I'm this fund
/ last year was s7.36445. OF this sum
$5.560.90 was paid into the revolving
fund leaving us q working capital of
, only s1,S03.55. The fund shows as
| follows this year:
Balance on hand. .... S12.552. 81
Balance tax assessment. S.261 ri
Total working capital. "a. 1924. 25
1 Increase In fund. ..... 3,549. so
II