The Wilmington morning star., 1944-12-14

| the city sinking luna IOI $1Ll wi,
at a premium of $14,207.
Councilmen also ordered that the
sidewalk paving program would be
discontinued for the present time
because of unsatisfactory work
manship and cold weather. 1t was
the decision Of the council that no
fur her payments should be made
to the contractor, F. D. Cline, OF
Raleigh, until each section of new
! sidewalk has been inspected and
written report made from the
office of the City Engineer, de-
signaling satisfactory workman.
ship.
The provision was made, how.
ever, that work already started by
Cline be compile ed.
The Raleigh concern holds the
sidewalk paving contract on q
yardage basis, prices varying from
4;1.94 to $2.65 Ter square TO-, de-
pending upon the type of the pres.
ent sidewalks.
The City Council heard at it's No
ember % meeting from a property
owner that widespread criticism OF
the sidewalks was being made by
Wilmingtonians, and Councilman
Edgar L. Vow admitted yesterday
that his information was that "the
citizens are justified.
City Manager A. C Nichols dis
closed that the work had not been
satisfactory and that payments to
Cline had not been made on any
work done since October II.
'Those sidewalks that we can &C.
cept after an inspection by the City
Engineer will be paid for
Called before the council for a
report, City Engineer J. A. Lough-
lin said the paving work was found
unsatisfactory two months ago. Il
have not inspected all the work, %
he replied to a query. THE only
solution appears to be to tear out
unsatisfactory work and do it over
again"
Loughlin, answering question
by Councilman Robert LeGWin, ex-
planned that the public would not
be recharged for the repla cement
work.
City Attorney w. B. Campbell
commented that II don't see how
we can continue paving during
cold weather. The paving freezes
every night .-.-..
Councilman Vow, who initiated
the motion that future paving work
be suspended, declared that the
Sidewalk, paving program has
been Criticized right much and
from what Mr.. Nichols tells me
I understand the citizens are justi-
fled
II do not believe the public
wants us to continue a program
that has been unsatisfactory and
one on which payments have been
held up. I no longer have conf
dence in the contractor, if my in
formation is correct.
Il move the program be
stopped, Vow continued. I'm not
willing to let the public spend mon
ey on program that's not right"
Mayor Ronald Lane added 81
don't think it's fair to continue the
program if unsatisfactory work is
being done"
The City Council also approved
the purchase of $4,000 of one
and one-half per cent U. S. Treas
ury bonds. The amount for the pur-
chase of Government securities
was taken from the proceeds of
the sale of municipal bonds and
other cash in the sinking fund.
The sinking fund now stands at
$672,973, and it is expected that by
June 30, 1915, it will reach SILT, 1000.
This will increase the sinking fund
to more than six times it's amount
in 1910.
1t was explained that several
resulted from the trans
action involving the sale of NUM-
cipal bonds. Net earnings of these
notes will be more than the City
could have obtained even by re-
tanning the bonds, it was pointed |
out
The first maturity of the $1,OOO,-
900 of term bonds the sinking fund
is to retire is 100000 on October
l, 1948. The block of new Govern
ment notes will mature Is days
prior to this date, on September
Is, 1913, while the municipal bonds
sold had maturities ranging from
1916 to 1857
This purchase Of Government Sc
curities and the Encouragement of
it was explained, now
provide the sinking fund with $685.
900 of assets maturing at, or just
before, the first sinking fund ma
turity date, compared with only
$135, 1000 prior to this transaction
The City's $1,000,000 in term
bonds were issued from 1908 to
EMPI0YE