The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1920-09-16
City May Be Forced to Go
to Chicago or Milwaukee
to Get Needed Money.
NOW ON RED LEDGER
Pabst Gets Assurance $4,000
win Be, Provided for Inme-
diate Needs Of Pay Rolls.

The city Of Kenosha went out this
morning to negotiate loans totaling
100000 to provide. funds to meet the
obligations Of the city between the
present time and the time when the
new tax levy viii be available some
time in January or February Of next
year Alderman Fred Pabst, chairman
Of tie finance committee Of the com
mon council, was decidedly uncertain
that Ike would be able to make loans
necessary to keep the city paying as
the calls for money came in.
His first objective was $50, 900 loan
which he declared must be secured to-
day III order to have the city treasurer
meet the wage checks which are com
ing in An examination showed that
the city was today overdrawn $4,000
and the overdraft was growing hourly
as orders already sent out by the city
were coming into the banks for pay
merit The city must have more than
100000 month for the next four
months ia order to meet its obligations
and Hid Of the money must be secured
through loans.
Banks Shy at Large Sum.
vas admitted this morning that
te tanks Of the city were shying at
suggestion Of providing the city
with SO large a sum of money. THE
banks here have intimated that 1t will
be impossible for Kenosha institutions
to furnish thu city the vast sum needed
to carry it over until the taxes are
collected, said Chairman Pabst. Gwen
dividing the amount among all Of the
city banks, and all Of them are city
repositories, there is big doubt as to
whether or not the money can be raised
here and we may be forced to go to
larger financial institutions in either
Chicago or Milwaukee and seek to Sc
cure loans to tide the city over. There
are big items which must be met and
some plan must be made for meeting
them. Just now 1T is pay roll money
that we must have. We need $4,000
today and we must get this from the
banks. We are assured that this loan
will be taken care Of but we must keep
driving right along for the bigger
money"
Bridge Bonds Sadly Needed.
Among the big payments which must
be met in the very near. future are pay
ments on the new bridge which are
estimated at S200,000 and then there
are big claims for the sewer on Cor
coran drive and for other sewer and
paving jobs, totaling pretty close to
half million dollars. The city has
contracted to pay these amounts as the
work progresses and if the money can
not be. secured, it is certain that the
work will be stopped as the contractors
have let it be understood that there is
no way for them to advance the money
until the taxes are made
The city council voted to issue bonds
to pay for the Corcoran drive sewer,
but the bonds were never issued. II
voted to issue bonds for the bridge
after the people have given their sane
ton to the bond issue, but the bonds
failed to bring par and they were not
sold. 1t is not improbable that at the
next meeting Of the council that a new
| effort will be made to sell the bridge
bonds and immediate action taken to
get bonds to pay for the Corcoran drive
sewer.
Situation Is Serious One.
The situation is regarded as one of
the most serious ever faced by the
city While it is believed that the city
will be able to get money to meet its
obligations, it lis certain that the cost
Of making the loans will be consider
able and the city may be forced to pay
for the accommodation for a few
months at q very high rate. OF course
this money and the cost Of getting it
must be paid out Of a new tax levy and
/ the new levy must be increased in or