Every evening, Wilmington daily commercial., 1922-04-24
UNpEPENDABLE ASSETS.

Aut etaltfncut oA tho Phy SASA' S'hN
financial assets OF the city Of Whining
ton, presented TO City Council last
Thursday night by City Auditor
Charles II. Shepherd. makes a very
fattering showing. 90 far Us figures
are concerned. II places the assets at
3l6.ll3.ls9. and the liabilities Cnclud-
ing bonded debit at Ss.l4l. .S6s.60. This
leaves the city. apparently. $7,s7l.s2o.-
20 "to the good"
Probably the physical assets OF the
city. including the Water Department,
public buildings and other tangible
properties. are equal in value TO the
estimates placed upon them by the
city auditor. But they are not liquid
assets OF face valus or more, which
could be quickly converted into cash.
They are. however, beyond q doubt a
sound and safe security for all the
liabilities ION the other side OF the ac-
counting
There .s one item in the listed assets.
however. which seems TO be OF some
what doubtful value and Is OF a char
acter which should arouse some con-
Germ in the minds Of all who feel an
interest I'm good business administra-
ton. 1t is the item OF uncollected taxes
which is set down in the city auditors
statement at .s5e.53S.O6. or uncom-
fortably close to half million dol
lare.
There are two questions which per-
t!nently apply TO this item: What por-
ton of these uncollected taxes Is COL
lectible? Why should there be such
large item Of unsolicited taxes?
1, has frequently been contended
there Is no valid reason why the taxes
due the city annually should not be
collected to the last dollar OF undisput-
ed accounts during each taxable year.
This ID done in other communities, and
In Kent county. IN our State. has been
done regularly for several years In
succession by the admirable admins
tration that has been IN service there
Cor nearly a decade.
4, d. so -hp.
complishment IS not legally possible
here in Wilmington. Collector Klund
OF the Northern district set this forth
very clearly in a statement drawn out
by the assertion Of Chairman Nc
Manus OF City Councils finance com.
mittee 10 the effect that the take.
were not being closely collected. Mr.
Klund showed that demand for ont
until May ! 81 the year following IN.
levy. and that legal proce edings 10
enforced collection cannot be takel
until six months after that date. Thus
IN respect OF taxes for the current fis
cal year IL viii not be possible to in
augurate measures for enforced col
lection until the first Of next Novem
Der. after which the ordinary delay
OF the law could intervene to aver
final collection almost indefinitely
The voluntary payment by taxable
OF the bulk OF the years levy durin
July and August each year is due {
the provision allowing 5 per cent re
bate on taxes paid during July. Will
August payments must be for the fu
amount OF bill. To all delayed pay
ments after September ! a penalty {
per cent Is added.
But even with due allowance fc
these conditions. including the lac
OF encouragement for the efectiy
measures OF enforced collection, Il
surprising there should be such Ion
delay in payments. These uncollecte
taxes. amounting to nearly half a m
hon dollars, extend back 10 the yea
1916; with an indebtedness for tn;
year exceeding $4,000. The charge (,
1917 Is more than $4,000; that (,
1918 nearly $4,000: for 1919, mo-
than s21 900: for 1920. nearly s6s
600. and for 1921. ss44.77o.52. 1t seen
surprising that such large amour
should have been permitted TO acc
nulate.
No doubt the main trouble exists
the indifferent and inefficient syste
that has so long prevailed, which n
been unchanged IN many respects {
none than half a century. One OF {
few changes that were made In 7
csnt years is the placing OF the c.
.ectors on a straight salary basis
oompensa tion-s3,o 900 per annum ea
Ard Withholding from them