Show Officials Balk at Paying 5 Per Cent on Land Deal City Commissioner William Murdoch in ch charge of ot finances and City Auditor Samuel F. F Nicholls Nich- Nich aU oils balked Thursday at payment of 5 per cent interest on 1000 deferred payment on a land purchase purchase purchase pur pur- chase authorized in behalf of the city on May 19 P Price of ot th the two acres acre l located near Fairmont park is s of which tho the grantor A. A W. W Palmera Palmer was a to rece receive ve 1250 cash and the balance in notes of ot 1000 each callable annually or more fre tre- After a conference with Commissioner Commissioner Commissioner Com Com- missioner Murdoch tho the auditor said Salt Lake City has ha sufficient sufficient sufficient money to pay cash for the land Ho He pointed out that the city this year has paid less leas than it had 1 per cent net for money to borrow pending receipt of taxes to offset operating expenses Thus it was explained nothing but bad business could define a proposition where the city would allow itself to pay 5 6 per cent Interest Interest in interest In- In terest on en one deal while another cost but 1 per cent |