The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1921-05-07

:, A eho Commltteo room 0l
tne motion Of Harry Fitzpatrick the,
were allowed to address the commit
Tee although the time limit for publf
hearings expired two weeks ago. TIL,
representatives were Colonel j. u
aiii' w. B. Bloomfield, ]. H. Murphy
members of the Belt Commission, ant
Frank H. Jubert, general manager o
the road.
ColoRef Hill told OF the deve,ov
ment which had been given commerG
m New Orleans by the Public b.
naiiroad and declared 1t. to be wonae,
iui. He declared 1t to be uniue in, thA
IL was the only. municipalIy-ownea raii
road OF the kind in the world. r-H
said the s5.ooO,ooo was to b. spent i,
iurther developing the Ine on the
east bank. to keep up with the com.
mercial Development OF the citv
Pians do not call foI spending all of
tne $6,OO0.o00 at. One time, but the
Belt Commission desires the author
ity to spend tho money as needed. n.
explained. -"
M. beHman urged favorable re-
port on he ordinance. THE onlv oh,
]ecti@1 which has been offered 1,
ags.nst the taxing feature" said he.
fhe possibilities 'of the levyink of a
tax to pay of the bonds which the
Belt Commission desires to issue for
the developing Of its line are extreme.
ly remote. The Public Belt Railroad
Is on firm basis, and is further pro.
tected by the ratefxing power of the
interstate Commerce Commission. In
the event the railroad could show
tnat the rates allowed it were causina
II 70 operate at a loss the Interstate
Commerce Commission would dlov
tnem to be increased. The deveIon.
ment OF the Public Belt Railroad ia ot
such serious importance to New Or
leans and the entire state of Louist
ana that this ordinance should be in,
corporated In the new constitution.
Louisiana has a great interest in II.
because all products which ara
shipped overseas must be handled
through the port Of New Orleans and |
he Public Belt Railroad was de d
'eloped by the city to facilitate the
moving of freight to the docks"
Mr.. Fitzpatrick added his voice in
upport OF it, saYag,. Because the
BUSINESS men Of New Orleans are an
'ehind this and that the Public Belt
.aiiroad has done so much for ths
ity' lam going to vote for a favorable
eport ON this ordinance"
Conrad A. Buchler of westwesc
DID OF the desire Of the people of Jet
erson parish to see further deyct
pment OF the Public Belt. "Taxipe
over Incorporated in this ordinances
one that will never be used" sai.
e. The business exchanges an
lterested in this railroad and the,, ,
are on the commits
on. The exchanges are Jealous CT
leir interest and these bonds. win
aver be issued until 1t is assured the .
venues OF the Public Belt are suf.
;ient to care for them
Esmond Phelps, delegate to the con.
ntioD but not member of the com. y
lttee, urged an amending of the or. !
nance to meet all obligations :
Il nave talked to Mr.. Lee and learn
at one OF his principal objections is F
az no sinking fund is provided for Il
retirement of the bonds" said he. n
have been talking to Mr.. Joubert b
q ne tells me he thinks this can he
ne. AS these are long time bonds
uid suggest an amendment proyid.
that the Belt Commission begin =,
ing aside sinking fund fifteen :,
hrs after the date of the issuance ~ ~
the obnds." ~
ne suggestion Of beginning the Lii
KING fund at that late date did mot II
'eai to Mr. Peterman and Mr. Lee lv
am opposed to issuing any bonds DC
ess provision is made 10 immed
'iy begin laying aside Of sorlh ces
amount to provide for their ult:
e retirement" lssid Mr.. Petermap. an
also am opposed to providing for - -,
granting of any authority to lew -, ~
ss unies sit is Submitted to a refer. ~,
um OF the electorate for their an. w,
val." W.
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