Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1918-04-17
G., Election OF funds to nay them OH 9
regular stated intervals.
Disrussion of Bonds.

regular stated intervals.
Dis.ussion Of Bonds.
Prior to that date, the law required
that, Immediately upon being issuen.
there should be started a SINKING
fund that should reach maturity az
the same time as the bond ana mus
afford means for its cancel alton ,Ihe
law was mandatory and should nave
been obeyed. We have
refunding bonds to the. amount ol
$40, 100000. for which there are no
sinking funds: There are also SOM
school hon1s in the anne condition.
Some of the bonds for which certain
of these outstanding reeunding bonds
were issued at time had SINKING
funds established in good faith ana
normally growing to accomplish tne
purposes for which they were des' gn,
ed. but they were seized upon ana
appropriated by former administra-
tons and used as current funds, for
the evident purpose OF. making a
show o., reduced expenditures.
This was clearly a breach of trust.
and would. in my Judgment. have
constituted ample ground for the m
peechment of the officials so acting
had the proper charges been formu-
lated and pushed.
Included in this list are $50, 100000
bridge bonds issued March 1. 1889,
drawing Z per cent. paid by the city
for 20 years. was 100000; this is
sue was refunded April 1. 1909, for
100000 at a per cent. interest paid
on this issue to 1918 was $14,400.00.
bonds of approximately $S5,0O0.00,
rand the debt still stands.
And still another s%3O,OO0.OO issue
of waterworks. refunding bonds are
due and no available funds on hand
TO retire Them. These bonds were is
sued August /. 1882, as follows: For
street improvement, 100000; for
waterworks $15,00O.0 90: for fire ap
paratus ~$6.000.O0; totallins $4,000
90. at Z per cent interest. ON october
81. 1897. these bonds matured, and
$4,000 paid off out of the sinking
fund. and the balance $50, 900. 90. re-
funded at 6 per cent. This $50. 900. 90
issue matured November l.. 1917, and
are now held by the city pending sat
isfa ctory negotiations for their sale
which means they must be refunded
the second time.
Prudence would dictate that when
this is done such r%efunding bonds be
made either Of the serial variety. or
II not. that a sinking fund he started
and %sedulously guarded against pre-
datory administrations.
Welfare Work to Re Expert.
What may be called welfare work,
including food inspection. police ma
iron and care of dependent poor is
now recognized as being a necessary
part Of very progressive administra-
ton. and I feel that we can take nc
backward step. In fact. l desire to
see the matter of poor relief handled
If possible, in a more efficient man
ner than at present. To my mind,
the position requires the services OF
a person whose view has been broad
ened by the excellent special train
ing now given in that work. BY one
who has taken it UP as a vocation and
who is interested in it as such outside
Of the remuneration it affords. Sucf
a worker should visit dependent fam.
lilies frequently and regularly, know
the size Of each. the earning power
of the wage arner in each and de
termine scientifically how much as
%sistance was required. Such a worke,
would make a study of each separate
family, learn where they were. lack
ing in efficiency and by friendly .coun
sci and instruction endeavor. tt" max
them as nearly self supporting as pos
.sible. If the ~inef1ciency were foun'
to be due to chronic invalidisan, hav
the cas- Investigated, and II foun'
durable, our hospitals have offered t
receive such cases at a low rate an
our physicians have pledged them