Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-01-04
S5,O1,O)0 RAISED
7. BYC|TYLAST YEAR
HadIey Points Out Great Mum.
Der Of Uses to Which
Money Is Put
FUNDED DEBT S2O2, 900, 600

Funds are available in old existing
,saps for a vast amount of public i'm
Increment, according 10 Controller
Hadley. in his statement covering the
financial condition Of the city. There
was about SGD, 900. 900 raised by the
city during the last year ny taxes aud
other ways, be said.
The statement reads:
I'm the year 1921. now fast drawing
70 n close. the receipts OF the city will
spproximate S65, ,000. 200 from taxes
md and other miscellaneous revenu,
sources, and S24 $4,000 from the
negotiation Of long term city loans.
The receipts from taxes and other mis-.
cellaneous sources have been used for
current operation and maintenance Of
the city's many functions and activi-
ties lthe police and fire pnyrolls alone
approximating $4,000. .000). and the
receipts from negotiation OF city loans
have been used for large permanent i'm.
movements, including the Frankford
Elevated. the construction Of moderr
pIers and wharfage facilities. main and
branch sewers and bridges. the Art
Museum and Free Library, for opening
of new streets and grading and paving
same, and for repavlng of permanent
character on the main thoroughfares Of
the city, for the Improvement and ex-
tension of the water supply, modern
I5ing fire fighting facilities. and for
hospital buildings.
"The cash balances of loan funds
for carrying these numerous classes Of
improvements into effect are replenished
from time TO time by negotiating pre-
vlously authorized loans to rcplenish
the Consolidated Loan Fund, created
by authority of the Legislature of 1913.
whereby single loan fund may be kept
replenished by periodical sales If vari.
Gus loans in order that number of
improvements may be carried on with
out an excessively large amount Of
loan cash lying in the treasury.
The city's funded debt outstanding
January ], 1922, after paying Of
s6, $50, 200 Of maturing loan. amounts
To S202. 199.350. In addition. there is
St00,270 800 of loans authorized and
appropriated, and therefore available
for miscellaneous specified improve
ments. These unissued loans. together
with the loan cash balance on hand AT
the close OF the year. represent the np-
preparations tOf permanent improve
nlents upon the City Controllers books
available for immediate use.
AT the close nf 1921 there is an.
proximately Sl5, 400 900 of these ioun
funds under contract. including such
projects MS the Frankford elevated,
piers, main and branch sewers and
bridges, Art Museum and Free Library,
grading and paving of streets and other
permanent improvements. The re.
maindcr, amounting to sol 900 900. has
not b"cn put under contract. but il
Immediately available for great
variety of public improvements. includ-
ing 1000, 600 for high speed transit
lines, SI0O0.00p for piers. $4,000. 600
for removal of Grade Crossings. 81 900. =
900 Tor grading and paving of streets
and country roads, 81 500. 900 for main
aud braucb sewers. 81 900, 900 for con-
Structiou of Art Museum, So, 900 900
for Free, Library. 81 300 900 for Con
vcnt0u Hall. 81 800 900 for Municipal
Court building and the balance. $40.
100000. for n great variety OF other
municipal improvements. Funds are
thus at present available in old exist
ing loans for vast amount Of public
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