Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1915-02-11

In accordance with chapter ~ of tlo
public statutes, the city can safely bond
to tho extent Of FIVE per cent. Of Its total
valuation. FOR taxation pos which
would he sa49, M 45. but for bonding pur-
poses. electric light and water bonds.
being sclf-supportinC. must not bo taken
into consideration 80 that the lceway for
bonding purposes would be t949, 7a4. 10 less
the amount OF school. street, railroad
refunding ana Ethan Alton Park bonds,
which amount TO Sis6.NuN, which would
leave for bonding purposes si63,794. ~.
have submitted thu above statement
for the information Of the people and
also 10 rcfuto the statement We so often
hear. that our city had reached the dan
already issued.
healthy condition. as our water plant
alone, If sold tomorrow. would wiz
out our total bonded debt.
WATER DEPARTMENT.
With reference to this department,
owing to certain conditions, which Were
brought To my attention. and found
existing. was forced to take drasti5
action. in which charges were brought
against the commissioners which caused
their renova from office, the result OF
which. new commissioners were elected,
and W. II. Wilson, a graduate Of our
university, was elected superintendent to
replace j. +. Kidder, who had served
as such for several wears. New and
up-to-date business methods were adopt
ed by NJ. Wilson. the result of which,
rtr9, ~. .l-1r, t;-,n rrnInv tia n1.N
management, clearly justified the over
hauling Of this most importart depart
ment, as according to the fiscal report
for the year 1914, there is a net surplus
Of earnings of Sc, l23. N, after all operating
expenses are paid, also interest on lis
outstanding bonds, and five per cent. OF
it's gross earnings. which have beer
placed In its sinking fund.
BY virtue of the charter its surplus
earnings must also be placed in the sink
Ing fund, which with the above amount
mentioned that have already been place
there, amount to the grand sum 4"
ss,&o.Ht.
With reference to tho above result,
will say that if the department is con
tinued under the wise and able manage
mont of its present commissioners, witt
". Wilson as superintendent, for th'
year 1918. the sum Of at least N2,0oDt'
will he placed in the sinking fund at tn
close of that wear, for the payment -
It's bonded debt, and nj this rate, In ~
near future, that portion of our bondc'
debt represented rs water bonds. will h'
entirely paid,
Water bonds 70 the amount Of $50, o0n
were retired last year. also sl0,Hn.0 stree
Improvement bonds Those bonds wor
retired with money taken from the SIM
ing fund.
ELECTRIC LIGHT DEPARTMENT
The gross earnings Of this departnep
for the year 1914 amount To $50, 500
less operating expenses, interest on il
bonds. and three per cent. depreciatior
on its total investment, leaves re
surplus earnings for the yeai 1914 O
Sl,3S7.S7.
This showing shoul DC most CRAFTY
Ing TO all fair minded people, as II clear
ly shows the protection 1t gives our citi
zens, In insuring to them q low rate 10
electricity. as compared with some o
kilowatt hour, as against II cents "
would ho obliged to pay, II Obliged 4
%patronize a privately owned corporation
Owing to personal requests and anony
nous letters received by our exper
auditors, to do certain things. woul,
most earnestly urge the people Of Bur
linrton to be %vigilant az all times. in on