The Bridgeport times and evening farmer., 1919-06-03
Announces That Ice Will Be Sold at 60 Gents a Hun dred-Means By Which Debt Will Be Tremen- dously Increased - Re funding Bonds to Be Sold This Year and Next.

Mayor Clifford B. Wilson read to vthe Common Council, last night his most interesting annual message. Its chief feature was q recommendation for the repeal of the ice stations previously authorized by the Council. upon the announcement that the Bridgeport Ice Delivery Co, other wise the Ice Trust will reduce house. hold rates to 60 cents per 100 pounds.
 This concession had been forced by the Times-Farmer and other newspapers which had agitated vio- lently against so cent ice, demanding of the city government that it con struct the municipal ice plant which the people had ordered, by referen- dunn ballot.
 The mayor explained the Grand street bridge affair by stating that the contractor who took the contract to build the bridge was incompetent, and that the city was obliged to give him the contract because the charter requires contracts to be let to the |mx-1-s> responsible bidder.
 AS1ts Q smile went around the Council chamber. where 1t was well known that millions of dollars of warrenite have been contracted for without any bidding, or any such charter fol do rol-
 The bridge was designed to cost s211,o ,ooa and will cost between s70O,- 900 and SsOO.Oo0.
 The message recommended a com mission to investigate the need for a rehabilitation home for those crippled in industry. The Council voted ac- cordingly.
 Speaking of the s1,,2Oo. 900 refund ing bonds. the mayor said the city's
 
 decreased by the issue of these bonds. They are, however, issued at a hiEFer rate of interest, so that the charges for carrying the debt will be increased for ten years to come.
 The message in part follows:
 The finances of the city are in very favorable condition. Since my last annual message there have been issued pavement bonds. for other than water-bound nacadhm amounting to s150.Ooo; and bonds for sewer con- struction amounting to S65OOOO.
 On April 1. 1919. there remained on the Auditors books, in the First Dis trict, S4S. .331 .5e: and in the Second Dis trict, s1.O59. .946.92.
 The General Assembly of 1919 au- thorized the issuance of bonds for the following purposes. viz: Construc- tion of public buildings. s425. 900: street paving, s1,oo0. 900; completion of Grand street bridge, s200.OO0: refunding bonds. $1.25o. 900: sinking fund. $200,- 900: notes. not exceeding one year, ani5 in amount not more than S5O0, 900 These issues will not all be sold this year but the following have been ad- verttsed and will be sold the middle of the current month. 9cis.: Construc- ton bonds in the sum of S425, GOO. which item will provide for a new Second Precinct police station on the East Side at a cost not to exceed $75,o0O. the land for which has already been pur- chased: for the completion and equip ment of tho new Isolation hospital, S9S.000; for garbage collection and equipment, SO GOO; for ash collection equipment, s50.00o: for addition to Ch1ldren's Home on Palisade avenue, 325,00o; for a municipal garage. $15o,- 900; for street pavement, $500. coo; and for the completion of Grand street bridge. $20o.ooo.
 owing to the industrial inactivity of the reconstruction period through which we are passing the Financial Advisory Board which was created by an Act of the General Assembly of 1o1e. advised. as necessary, the issu- ance of refunding bonds in the sum of e1,250,00O for the purpose of paying off bonds maturing this and also next year. This will not add to nor de- crease our net debt.
 If this action had not been taken. in order to retire bonds falling due |, this year, it would have been neces- sary to levy an extra tax of two and one-half mills on the current tax list, and at lea Tt as much next year.
 These refunding bonds will be paid off during the life of the improve |. ments which we are now enjoying within the next ten years at the rate of e126. 900 per year.
 The Sinking Fund Commissioners have invested all their available funds in bonds of the City of Bridgeport. It, will be necessary for the Sinking Fund Commissioners to sell s20o,O00 of bonds in their hands on July 1. : 1918, in order to retire bonds falling : doe at that time. If these bonds are ], sold from tho Sinking Fund fl will fem taiI a loss to the city Of several thhu- sand dollars, owing to the fact tfat the bonds in the fund are taxable and will bring a flower price than | tx- exempt bonds. 1t is proposed th9ye- fore to issue bonds in the sum of A2AA-eeo to take up those maturing