Every evening, Wilmington daily commercial., 1922-04-21
CITY ASSETS REACH
SIXTEEN MILLIONS,
LIABILITIES EIGHT
Continued from page 4.


eAouGht tho city auditor should bc
commended for the report, for II had
been nm unusual duty TO get all the
ngures necessary. and It showed that
the auditors ofS'ce WAS cooperating
to the fullest extent with the City
Council.
Councilman James II. McManus,
chairman Of the finance committee.
said he WAS sure all tho members OF
the Council appreciated tho co-opcra-
tion displayed by tho auditor for II
hsd required considerable work to
compile the statement. lIe said the
hsures II contained wcre very interest
Ing and as they are more thoroughly
digestcd after studying tho report the
members will realize their Importance.
He referred To tho statement OF city
taxea upcollccted and due the city
And thought tho amount unusually
large. and he pointed out that II the
city were able to get In this cash there
would be no trouble In financing oil
DEPARTMENTS without stint. That there
N 80 mitch money outstanding In the
way Of taxes Mr.. McManus. said he
shcught was due To the lack OF CO.
a thosd departments responsible for
Ns collection. lie said " these Offices
would 70 after the delinquent taxes
"a strong "a they do In some other re-
spects tn. taxes would be collecte\
better than they are.
lie was referring 20 the Item In the
report which shows the total uncoi-
iscted taxes In both tho Northern ana
southern districts 90 he A66,bSs.oe'
This IL divided s34l .522.Sl In the
Northern district and Silb.Olo.2b In
the Southern district. For the year
1921, tho report sets forth. there is
due I'm the Northern district, &2I2,-
sapia. aud IN the southern district,
Sfi.ssiss. However. these figures
will be offset 90 some extent 10y the
payment on May I OF about Sso,ooO
by one ~ the big tax paying concerns
of the city At least this sum In
taxes due has been promised the city
at that time.
Mir. McMsnus pointed out last night,
after tho meeting. that the $3aS,ooV
due In 1921 taxes was Incorporated In
the city'- estimate Cf Its financial re-
sources for the current fiscal year
when the budget was made up last
spring. and the fsilure 20 collect this
sum has set back the city to that ex-
tent In It's financial arrangements 30
that there 10 little wonder the Coun-
oil IL finding II difficult 20 meet all
the demands made upon Il. He said
n all these taxes were collected there
would be no trouble at all In f'nenc-
Ing the city, for there would be ample
money for all purposes and safe
margin ON which TO work.
AIr Sheppsrds statement shows the
following interesting summary: As
es,s IN excess OF iabilities-Rosrd OF
Bark Commissioners. sa.2sb. .724A5; +;
Public building Commission, ss62. .os6-
So; street and Sewer Department, s4.-
bpsr2S7s; Water Department. So
TSa,oOa le; BOARD Of HarbOr Commits
.iuner.. si055.b 5.b6s.6o; Department of
Public safety. Bureau of Fire. s53q,-
sac oe Bureau q Police. it27.6S275; /;
total for the department 667.4sl.sl;
Posrd Of Public Education, s2.a74,-
7lO35. Mayor and Council. uncollect-
ed taxes. sa56,53s0s; total net assets
tlstIs1se lAsbilities-Net bonded
Indebtedness. ss.lll.s6 $3.50: liability OF
Pc1Rd % Health. $50 goo; total liabili-
tieI, tsa4l, $3.50, excess of assets
over liabilities. s7.e71 320.4o.
MIR. Sheppard's report will he in
corporsted in the annual report of the
city treasurer by direction OF Coun-
Gil.
The value OF the park lands
throughout the city, together with the
buildings thereon. is fixed at sa.222,-
si0. The total value OF the Public
Building. including ground. equip
ment and improvements made since
the structure was put up, is fHed al
ss62 .035s<. II shows that the Stree;
and Sewer Department has installed
sewers costing 81 ,sss ,2O2lI. The
cost Of streets that have been paved
in all parts of Wilmington mp 20 the
time the report was made up 3. ss.-
os2, ,la244. while against this item tho
sum OF sl,00O.OO0 IL allowed for de-
probation.
The Water Department has lands
buildings and equipment valued al
s3s93.51O17. while s1.164.552.70 is al
lowed for depreciation In this plant
The real estate holdings Of the Blu
reau OF Fire are valued at $3.50. 030 Sc
while tho fire apparatus is appraised
at sl57.360. The total value OF the
buildlnes owned by the Board OF Edu-
cation Is s2.al1. .s30.s5. while that de
pRrtment's land holdings are estimat.
ed % be worth s2Oe.sl7.
Following Is the report In detail:
STATEMENT OF THE PHYSICAL As
SETS AND LIABILITIES OF THE
CITY OF WILMINGTON. della
WARE. APRIL /, 1922
BOARD Of HEALTH
Assets
Ono incin6rator tcompletedD. $1,000 oc
Ono incincrator tuncom-
pietedl .......... ................. $4,000 oo
ih"hihties .s................ 20 900 OO
=
Liabilities over assets 40 ono oo
BOARD OF PARK COMMISSION
EkS-
land and buildings . 81 222 aio on
Jools ana equipment ........ 9sz 30
tash on hsnd .-..-..-........... p.2p2 8s
Total assets .......... s323o $50 es
bihs payable April ........-.. S62 90
Excess OF assets over liza
bilitics 81, ,2s5 724. a,