Show t FINANCIAL TROUBLE AGAIN IN EVIDENCE Depreciation of Scrip Value Ii Hits its City Government d H. H H Hard ar d r rd CONTRACTORS RAISE BIDS 1 i Bill Drawn to Ask Legislature JJ t lo It v f for fot or R Relief e Ie f in iii t the I 10 JI t C Crisis r 0 c i Depreciation of oC 10 iO per JCl cent In the i value uc tC it scrip ci i Issued as a It lieu Hen O against I ie ie real al on public improvements IJ by Salt SaIL I Lake ake City lias caused the tile delay wf uC opening the llio bids on oil public work worl for 01 or tho ho ensuing year car from Crom roni Feb Feh 28 to I H 11 1 1 1907 until a a. bill CUll can bo be i Introduced in lii the le legislature changing tho scrip erl I Issue uc The flue banks in Salt HnIt LUko have ho refused to tn lIU buy tin the 1 but hut will loan no II Hf cents on U the tho dollar on C it It with Interest est until it becomes duo due helo scrip l i is I issued Mul on the till public zi Improvements it j is stated that thal It costs the tile eft city about i 15 5 per cent moro more for fou tit tho contract work worl than thai where whelo the tho thom f 1 m money ney l I In nahi in fn warrants Bids wore were to tu be lie opened tl by hy the board of or public Thursday morning at n a special i F meeting but it ft was postponed on nn account account ac uc- count of the refusal of tho the banks to toI I take ta scrip at Its face value aluc The lull bill I which will b bo be to the 4 A IH lit hing drawn b by ia Councilman L T. T II it Black City d Engineer Louis C. C 4 J ey allt and the tho lie city attorneys asso asso- dated I Report Plight The plight t of the city's finances as ns t shown b by City Auditor 4 Hu Rudolph ph n i- i was aN a the cause caus of the tho banks banks' 8 HI to buy huy the thc lelI scrip The contractors contractors contractors con con- tractors would f oon be unable to se secure se- se cure CUVO anything I I on ii the he scrip t to 1 be ho I issued l cd on me s I I the tho coming year eai UI During the past year eal 1 time tile banks have become become- Hooded flooded with scrip and man many contractors hin have 1 re ie- ie e. e s fused to present hills bids o unless uriles the method meth meth- od of or payment 1 Is designated in iii tIme the It i in stated that where r scrip f Is Issued the contractors make their hills bids about 15 h per pea cent higher highe kt on account of H Jl running Irvin from three to ten nl before It becomes delin i I clu lUCOt nt c me bill lIil to be lit Introduced will bo lie made maele it y so 50 that th the will ili be Ie h In warrants of oC I Oi denomination and time on tho time I. I real ical nl estate to 0 he be colt col col- I t by 11 the time ell city The Tho scrip I Issue MIC covers O Improvements III hi I street tr 1 Diving fn sewer II ex extensions x x- tensions lolI and sl sidewalk extensions ons The Theother oU other rr Improvements conic como under special Ia t. t funds More Scrip in lii SI Sight III c The lung bids to be luc opened In March ta are an on nim st street reel 11 paving mill and daml n side I I walk extensions H sewer CI extensions and tin lie y f enlargement o of ot the Ihl lie dl distributing till t system of or oft i t tho h. h city's The work wor 4 amounts to upwards of or and scrip would have to lo be he Issued h by the city to 1 the contractors in III order to carr carry on the work ork under the present arrangement With Hh this amount of oC scrip flooding the banks as nM soon Eoon as it n would be pc If Issued t would probably r result In a depreciation of oC twenty five Ive per cent on account of or the they y- y fr- fr j fl of or the time elt city elty Th The bill hili f 1 r improvements payable In fn wai VOl tills rants tV vIii hl bo 00 10 considered Friday If nl night ht y when th lie tho board hoard of public public- works meets at ILl N rj- rj I Its ts regular ar Session The lull bill will no doubt be lue ec as 88 drawn h by ly th the tho attorneys and pa p sed up tIp to time the legislature for son son- sl Another bill 1111 has also been heen Inao In In- ao providing that list the thc scrip shall not be lie sued ss until time the Improvements have hav r j. j been leen completed Heretofore a as soon a as aj tho ho Improvements 1 have been ordered the I scrip ha has been l Issued 1 and Lime he first filst and anti even U the lie second payments duo antI and dc- dc tIme the WOl voi has lins been com corn |