The weekly Iberian. (New Iberia, La.) 1894-1946, 1921-03-12


NUMBER of questions put to us in a recent
newspaper article.
without wishing to prolong the controversy, and on
" because principle is evolved shall answer what
we can today in our limited space and time
The "Inherited Debt"
The "nherited debts which we stated being paid
yearly bv the present Board of Trustees from the cur
rent general fund include principally the two followngl
items:
FIRST:
$4,000 Certificates of Indebtedness issued to con
strc the Water Filtration Plant which provides chem
cay pure water for public and private use covered a
so bv this amount of $4,000 is the item OF hve ana nan
miles of six inch water MAINS LAID to proVlde water "
sections Of the city before enjoying this convenience
and necessity Also fifty five fire hydrants IN previously
unprotected areas of the city.
The Commissioners themselves attended to the en-
qneering features Of the filtration plant, saving con.
Siderable sum of money The five and a half miles OF
water ppc alone would cost today much at the entire
items covered by the $4,000 This amount will be clear
ed up three years, being pau eacn year IIo te
Citys General Fund
SECOND
list of old unpaid bills some dating back to the old
Mayor and City Council form of government.
These amounted to about $4,000, and were funded
by an issue of Certificates and the Certificates are PAID
each year from the current General Fund OF the City
This issue of Certificates will all be lqudaed in four
years.
Detailed information can be secured by any inter
ested citizen by applying to the Commissioners IN the
City Hail.
These figures bear out our contention that the pres
en Board of Trustees is paying from it's General Fund
for these "Inhered Tebts and should be given proper
credit for it.
THE DEMURRAGE CHARGES
We find by enquring at the local freight office that
the City has paid $81227 since June 49, 1917 or during
the entire term of the present Commissioners
We offer these figures for comparison with the
thousands of dollars stated in the newspaper article
referred to in first paragraph above.
One Of the officials in charge of the demurrage books
at the freight office informs that certain local mer
chandising pay almost as much demurrage in
one or two months the City has been forced to pay in
over three and half years. And these concerns are
amply able financially to pay their freight bills.
During the past two years labor has been scarce 1t
was not always possible to get car OF freight unloaded
Immediately when it arrived More demurrage was
paid during those troublesome years than has ever been
paid before both by Corporations and individuals. 1t
does not seem to be anybodys fault but of the un
fortunate conditions incident to the wars aftermath.
We scarcely can imagine how it dragged into
that article as political issue argument.
THE 5000 PROPOSITION
We were requested give the history Of the in
which "the City gave 5000 to local citizen for his in
fuence" in borrowing money from New Iberia bank.
AS there no secret about it, and nothing illegal
nected in any way with this transaction,
son why the request for statement should not be given
The City confronted by emergency demand
ing $4,000 The local bank had loaned the limit allowed
to any Corporation. private individual was re-
quested 10 loan the amount to the City. He did not
have the cash available but consented to it from
local bank He put up $4,000 in securities belonging
to himself against which the bank loaned the money the
City need The brokerage charge of per cent paid
to this citizen for services rendered
This transaction is common practice in commercial
and financial circles and is both legal and recognized
everywhere
The citizen who secured this loan is one absolutely
above reproach and recognized Of New Ibera's
leaders, both from business, civic and moral stand
point He would not have associated his name in thel
transaction had it been in the least SHADY"
The bank that advanced the money was informed
all the details and would not have taken hand inl
the deal if it was not 100 percent pure
And we proud to say that it is belief that the
gentlemen chosen to handle the affairs of this City