The Penn's Grove record., 1920-07-09

WISE the DuSlueSS anu pledSuE0 IEdulC
of the state is subject to serious inter-
ference. and damage will result to both
life and property"
The governor advises an ~investiga-
ton Of all contracts for the building Of
state roads. He suggests that If a con-
tractor is undertaking work which he
is incapable Of completing proceedings
should be opened at once to compel
immediate completion of the contract
or its surrender.
1t is pointed out by Governor Ed
wards that the $15,000,0O0 road tax
now being raised will not build more
than half of the roads originally plan
ned, and steps must be taken by the
next Legislature to provide for inanc-
ing the balance Of the work. This need
nor interfere with the duties that now
devolve on the new board, the COVER
nor said, as for two years to come
there will be available each year about
SO, 200, 600, so that a partial program
can be continued.
State Shy About $50, 600.
How TO pay about 100000 of claims
against the teachers retirement fund,
which are now due, with SOL 900 is a
problem now confronting State Treas
urer William T. Read. One solution
presented is the sale of some of the
securities bought by the old teachers
retirement fund for permanent invest
ment purposes. The objection to this
course is that the securities available
xrD,,1I Lo-o - - 4-- II IL
time at a loss because of the present
condition of the market.
The deficit of approximately $4,000
to meet the quarterly payments is at
tributed by the states financial officers
to the unsound policy followed in the
administration OF the old retirement
fund, which has been superseded by a
guarantees perpetual %solvency of the
fund. The new plan is worked out
by ~actuaries on a basis which'it Is be-
lieved will make it self sustaining.
Second State Bonus List.
In compliance with the bonus act of
this year the Civil Service Commission
filed with the state comptroller sched-
ules for tie payment of bonuses due
state employees for the last half of the
fiscal year ending last week.
The total required under the regula-
lions worked out by the Civil Service
Commission and approved by the State
House Commission and the appropria-
lions committee of the legislature was
$433, 226.26, or $29,226.26 above the es-
innate made last December. The total
appropriation was 100000.
Between $4,000 and $4,000 of the
additional amount has been used to
provide a bonus for teachers In certain
institutions and to making a more lib
eral allowance to state employees who
were in service during, the war.
The shortage of approximately 1884,
goo is being met from unexpended bal
dfhces in several state departments
available for salary purposes, which
would otherwise have lapsed. This
will make possible distribution lof the
second half of the bonus on the same
basis as~was made in April.
The bonus legislation was intended
to provide some financial relief to per-
4 tildLC1ll tIiHiOS CCS PHI lit oldbO -
and employees entering the service
after January 1 last do not participate
In the second distribution.
Seek Gas Rate Raise.
An. increase of approximately 30 per
cent over present rates to all classes
of is asked by the Public
Service Gas Company in an applica-
ton filed with the Public Utility Com
mission. This action is a continuation
of incessant efforts TO bring about a
boost in rates. The company sought
first TO obtain the desired increase
through means of an "oil >~differential,"
which was refused by the Utility Com-
mission, and after this failure the COM
pany served noticeithat 1t would apply
for am increased rate. The company
now asks that the price of gas be
boosted 40 cents LOCO cubic feet. The
application was taken under advise
ment, and a date will be set for a pub
lie hearing.
The Application vas made by L. u.
Fl. Cilmour, general counsel for the
Public Service Gas Company The pc
tlflOn SetS IOrIn lIldl ol'e4 dtE@ GA
pense. for the year ending July 81,
1921. will show an increase of ~ cents
LOCO cubic feet over the operating eX-
penses, upon which the Utlity Com
mission last November fixed the pres
ent rate of S1.t5.
An order allowing the Monmouth
County Electric Company to increase
IFS trolley fare from 6 to Z tents in
each of its fare zones was filed by the
Public Utility Commission. Applica-
ton was made by the company for an
Scent fare. The company wentkinto
the hands of receivers in 1916 and is
now being operated by them. The
original fare was 3 cents, and an In
crease TO 6 cents was allowed by the
Utility Commission last October. Inc
company serves Red Bank, Runson'
Eatontown, Long Branch and interme-
date municipalities and territory.