The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-03-14
CHAMBER NOT WORRIED
OVER Mr.. peters, WAR
Resignation OF Councils President
VIII Go Through Regular Cham
ncls to Action
THE OFFENDING RESOLUTIONS
Those Adopted by Directors of Cham
Der of Commerce Last Thursday
Were Passed On Findings of NUM-
cipal Affairs Committee.

ANpht
The Richmond Chamber OF COM
merce, officially. has absolutely moth
ing to say in response to the so-called
declaration of war oy r. Lee Peters,
president OF the Common Council.
Mr. Peters. incenscd that the Rich
mond Chamber Of Commerce should.
directly or indirectly. advocate the
sale of the old Ford Hotel lot to The
STATE for the erection of q State
office building, when it has been
planned that new municipal building
should occupy the grounds. yesterday
sent his resignation as n member of
the Cham Der of Commerce to Business
Manager Dabney and to President w.
T.. Reed, of that orga nization.
The resignation letter viii be turned
over to the membership committee,
which will investigate and report 10
the board of directors at the next
meeting and the resignation may be
accepted.
Studied City Finances.
The Chamber oil Commerce. through
its dir, ltorate, which met last Thurs
day, adopted report Of the mnni-
cipal affairs committee recommending
that a. stand be taken against the
liFl CITY money. un-
less II be evident that the expendi-
ture was for the meeting OF the
city's immediate requirements
Though the resolutions adopted,
based on the report cast no reflections
upon any member of any city govern
ing body. Mr.. Peters president of the
Common Council and member of the
chamber. and. as a member of Coun-
Gil, father" Of the new municipal
I.ttl IN. !, 80
Der. declaring war" upon that or
ganization. TLough other members of
the City Council are mem bers of the
Chamber OF Commerce no other resig
nations were minated yesterday
Resolutions Presented.
No official OF the Chamber yesterday
made any statement. Only the text
Of the resolutions adopted was given
out, officials declaring that the direc-
tors action was taken after thorough
study of the city's financial condition.
which shows the erection of a NUM-
eipal building, such as has been pro-
posed. an impossibility within the next
several years.
The Chamber officials present, 10
sustain them. the resolutions adopted
after study OF the city's finances
and after a cross questioning of City
Auditor Crenshaw. who was called
annual report of his office, upon the
cfty's fin. nciai situation.
Preposterous. Says Peters.
Mr.. Peters, yesterday. discussing
his resignation from the Chamber Of
Commerce, declared the resolutions Of
the Chamber preposterous.
The financial condition OF Rich
mond Is now better than 1t has been
for many, years and We can carry out
plans with thu creates, ease" he
said. Doesn't It look bad in the face
of the recent bond issue for street
improvements OF anyone to come out
and say that we are practically facing
bankruptcy? We have sold our NUM-
cipal bonds at Ia per cent and
got a premium for them. while other
cities OF equal Importance could not
find takers at 5 per cent The current
rate of interest for municipal bonds
in the open market has been S per
cent. but we found that Richmond
could market her bonds at IL per
cent. Does that argue against the
financial condition of the city7 The
building planned for this location
Is ideal and would be one that the
city could Justly feel proud of. The
people have had nine months in which
ton. but thus far noting has been said
against 1t except by the Chamber of
Commerce. / have had councilmen
and ex-councilmen TO call me up this
morning and express their sympathy
with me in the fight"
The resolutions adopted by the
Chamber directors Thursday after
report had been made OF its findings,
by the municipal affairs committee.
and which caused Mr.. Peters to sharp
ly criticise the Chamber and to re-
sign are as follows:
The Objectionable Resolutions.
Whereas. the unexhausted bond
limit In the city of Richmond, includ-
ing the values Of the recent annexed
territory. ana the estimated reassess-
ed values o. properties in this city.
effective 1916. will not exceed $4,000
600. which. under the law, cannot be
increased until our property is again
assessed in 1920: and,
whereas. the city of Richmond is
CONFRONTED with urgent demands for
essential Improvement necessary to
continue the welfare and prosperity
of our people; namely, the erection of
more elementary schools. the inn
provement of Richmond dock. I'M
provement OF Shockoe Creek and ex-
tensive street Improvement due to the
rapid growth of our city. improve
,ment in the gas works and other I'M
pOrtant movements ana denialuS iioHi
the various departments of our city
Therefore. be Il resolved, That the
Chamber OF Commerce, through It's
board of directors. petitions the Hon
orabie Council of Richmond that 1t
would be exceedingly unwise for our
municipality. for the present, to make
expenditures from our current reve-
nue. for any Improvement other than
those Immediately necessary, ana
that no additional bonds be sold other
than those LOW pending before the
Council except for sudn permanent
tmprovemcr Is as are necessary to pre-
serve thA welfare of Richmond,
recognizing that It would be most un-
wise for our city to exceed or CONE
uncomfortably close to its bond limit,
thereby leaving little margin, If anV.
to provide tor some extreme unfore-
seen emergency.
Resolved That the chamber petit
tons the Honorable Council that a
committee be appointed to confer
with a committee n the State OF Vir-
ginia, that was authorized and APP
pointed by the last Legislature In an
act approved March 81. 1914, which
COMMITTEES was designated as the State
building commission. The State hav-
ing appropriated under the same act
an amount not exceeding s1S9.ooo to