The Birmingham age-herald., 1915-02-05
ASKS INFORMATION
 ON DISPOSITION OF
 CITY SINKING FUND
J. c. WaldrOp Thinks Out side Auditors Should Be Allowed to Go Into
 Whole Subject

J. c. waldrop of 3sf5 North Twenty
 second street, who for a number or
 years was employed in the tax offices
 of the county and is familiar with the
 local tax situation, yesterday reopened
 the matter of the city's sinking fund
 in an interview In which he offers sug-
 gestions. MT. Waldrop said:
 As a member of the committee of 100 I have been anxiously awaiting
 some explanation by the city commits sioners of the shortage of s70e,000 In
 the sinking fund which was disclosed
 at the final meeting of the committee. "The tabulation of figures which were read to the committee by Felix E. Blackburn, one of the committee, were compiled. AS he announced, by Hon. Frank V. Evans. the state examiner who unearthed the recent frauds in the state convict department result ing in the arrest and conviction or
 Theodore Lacy, from tables of Sigures furnished by the president of tho com | mission, and although published ex- clusively in The Age-Herald several days ago. no one, not even a member Oi tnt CoiiiiHiSSloit up to thc pA tStha time, has raised his voice to question ]. tho correctness of Frank Evans fig Ires.
 In fact. the chairman of the com | mittee, Hon. Sidney J. Bowie, in his eff
 fort to plaster over matters and pour out some of that oil of peace men 1 toned in the press practically admitted 1 that the sinking fund had been raided | and money withdrawn therefrom !lleg- 1 ally. but attempted to justify the same
 by saying that the holders of the bonds for whose protection this fund was created had not complained. theief why should we worry?
 "Now. how could the bondholders, who are nonresidents, be expected to t, know about this enormous shor ta ge when our own people here knew noth- l ing about it until 1t was brought to | light by MT. Blackburn? Ia appears | that this deficit Is of long standing. gradually increasing up to the present | time, when it explodled of it's own weight But what does few hundred | thousand dollars 'shyness' amount to | among friends? There is not trust | company in this city or in the state
 
 I have for one minute dared to handle and tamper with a trust fund in the | manner as has been done with the sinking fund of the city of Bi.ming ham. But 1t was contended by the l chairman of the committee that the l city had in fact received the benefits l from the misappropriation of the money | of this fund, therefore no harm or wrong had been done. If this be true. | why have any restrictions at all as 1 to the sinking fund? Why no. go ahead and take the balance of y267,- l 900, which is admitted now to De in this fund. and apply it for general municipal purposes? It would still be | just among friends and the bondnold : | CTS would not be any the wiser.
 "The committee acted wisely in only receiving the report of the subcoinmit- | tee and not approving same. nolwith- standing the arguments of the chair | man in favor of sustaining the with drawals of money from this fund at various times. It occurs to me that the | governing body of the city, as inti,- J viduaIs, and also the comptroller, are | eivilly liable for the illegal and an- 1 lawful dissipation of the sinking fund and that they, as well as the city, | should be and could be required to re- | store all moneys Illegally and wrong fully withdrawn from the sinking fund The people should not be satisfied as | to the condition of this sinking fund and of the general finances and gem l eral funds of the city until the same | has been audited by a thorough and competent auditor and that by someone | not in the employment of the city. and | that the commission should recuse i themselves from selecting and employ 1 ing such accountant. There is not enough lime in Alabama to make whitewash sufficient to cover over and wipe out the figures of Frank Evans , and the enormous deficit which hi. statement shows Now. what will give | quick financial relief to the city? Tn, I first and most important step is tt secure by proper Legislation equaJiza- | tion of taxes and taxable values. Mex we should aec cure as quickly as pos sible munfcipa: ownership of water works plant. When we get these re | forms. there will be no necessity o an increase in tax rate"a