Five Mile Beach weekly journal., 1920-04-16

At last weeks meeting of the City
Commissioners, as stated in the JOUR
NAL on April 9Th, ordinance No. l03
carrying an appropriation OF $4,000,
passed on its third and final reading
One of the sections of this ordinance
declared: "That the net debt of the
City of Wildwood, computed in the
manner provided in section l2 of chap
ter 240 of the laws of 1917 of New Jer-
sey, including the amount of bonds
authorized by this ordinance, is
$5O7, 1913. .29." The law requires that
such supplemental debt statement be
filed in the office of the City Clerk,
upon the passage Of every ordinance
where mo ney is appropriated. In this
instance the city is borrowing money
by hond issue to pay off debt as
sumed by the discounting of note in
1917, the proceeds of which were used
to complete the high school building.
1t ie a case, some may think, Of "rob-
bing Peter to pay Paul" So, "nIoney
goes, no one knows"
The figures above do not ex-
actIy represent the true bonded
indebtedness of the City, because
the half million amount does not
include the water bonds, which
to Jan. 4, 1920, tofaled $663, 900.
The bonded debt of wildwood is
a little over One Million Dollars,
not including $173. 900 In the sink
Ing fund. Add TO this million the
fIOatIng debt OF $146.O 900 and you
have $1,146. 900, which represen-
ted the net debt of the City OF
wildwood at the beginning OF
the business day of Jan. 1, 1920.
These figures are taken from the |
City Treasurer'S statement. But,
aIasi we cannot stop here. This
does not include the school
bonds. The beautiful high school
building was erected during the
regime of Smith, Ryan and Hem
dee, but TO the best of our knOWl-
lished statement OF the cost of
this building, which is said 10 be |
about $3.50, 900 including the land.
This Is only gueSSVVOrk, for the
taxpayer has no means OF know
ing what II cost. Although the
City Treasurer is also Custodian
of School Funds the printed an
nuaI report, just ont. is silent on
the receipts and expenditures of
OF our four large school proper
ties. The taxpayer does know
that the city school rate has in
creased from 1Sc TO sac per 500
during the time that Smith, Ryan
and Hendee have been in power.
To the great surprise ofeveryone, the
political interest and excitement that
recent events have aroused, pervaded
even city hall, yesterday, April 18th,
1920, when the Com missloners met in
regular weekly session. The name Of
Davy Baird was mentioned, as we'll as
that of Richard Croker, once Tam
many Halls big chief. 1t was pretty
freely conceded at city hall that nei-
ther of these adroit politicians had any
thing on Wildwood political manipu.
lators. Even the fine Italian hand of
Matthew Stanley Quay, in his Palm
lest days, could hardly have matched
what was attempted to be pulled off
here within the week just past. All
this was conceded with the greatest
good humor, the Mayor laughing as
heartily as the rest at the mess made
by the "spilling Of the BEANS" as one
was heard to say.
The high political excitement of re-
cent date seems to have had depress-
ing effect upon our financial matters.
Tax receipts for last fiscal week were
only $807.99, and in the Water De-
partment but S623.16.
Joe Brown says he is done with poll
tics and is ready to step down and out
of his present position, if need be, cheer
fully. He reported that he was kept
right busy the past week and derived
much pleasure from the delightful pas
time of turning on trickling streams of
water for twenty-five new consumers.
And he was busy tapping mains, as
these nine instances will show: On
Sweet Briar road on Cardinal road for
Frank r. Murphy on Buttercup road
for Edna 7. Folsom on east 22d street
for Herman Goldner. The remainder
were for Henry H. Ottens, on 10th, 18th
and 18th streets.
Under head of new business, resolu-
ton was introduced and passed author
izing the issuance, by proper city off,
ciais, of a temporary improvement note
in the sum of $4,000. This note is to be