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Show MID WARRANTS OF CITY PRESENT I PROBLEM Throughout 1916 Ogden City paid all current expenses out of current revenue and will continue to do so, as the law requires, today said iiy Treasurer Carl Allison, replying to an inquiry. The elty has received in eash from the county, dowTi tn date, I204,24f 21, on account of taxes of 1916 "No one holds a six perceni jrar rant of 1916," said Mr. Allison, 'for none has been issued, not one warrant has been registered." "Doubting friends predicted when we assumed office, " he said, "we would be registering warranis, like our predecessors, prede-cessors, by March or April, but not one warrant has been registered vet, and Mayor He wood's financial policy will continue to obviate the necessity of resorting to the six percent war rant system of paying municipal expenses ex-penses City Now on Cash Basis. ' In only one instance have we paid more than four percent for borro.V3d money " said the treasurer "Th is we have saved the taxpayers two per. cent on funds borrowed, while tho city's funds on deposit have ben drawing six percent interest. The financial policy of our pr or was thus reversed, saving the taxpayers a large amount of money and placing municipal affairs upon cash basis." 1915 Warrants are Good. Treasurer Allison was asked concerning con-cerning payments of the city par-rants par-rants inherited from the Fell administration, admin-istration, amounting to nearly (140,-000, (140,-000, including the $.:2,40n held by the Commercial National bank, for th9 payment of which the bank recently sued. District Judge Howell held the warranis to be valid, which the city never questioned. "The litigation was unnecessary," said Mr Allison. "We always aid the 191." warrants were issued lor service rendered, or material supplied, and that as far a.a we knew the wa-. rants were perfectly good. We had no surplus with which to pay them and the same condition still exists and will contiue to exist Small Payment is Made. "Last week we received from re-demplions re-demplions on 1915 taxes $523.31." said Mr. Allison, "and this amount was promptly paid on the warrants held by the Commercial National bank, which weer next on the book in the order of registration." Since the city has no surplus and Isn't likely to have any from which the 1915 warrants legally may be paid, the question rises: How shall these warrants be paid They are recognized as an honest debt. Treasurer Allison said he couldn't answer this question. ques-tion. It is a municipal problem. Will the People Approve? The same Inquiry In other official quarters elicited the counter Inquiry: whether the people would vote bonds at a special election to pay the war ranl6 of 1915 more than $100,000? The Standard representative ventured tho opinion that the people eould he trusted to approve the prompt payment of any honest debt, provided they jvore thoroughly convinced the debt were honest, that the warrants were issued for value received, and that there were no other practicable means of paving the debt. The consensus of opinion seems to be, however, that the voters would re ject a bond issue for such a purpose, and It is stated in certain quarters that the bond issue isn't really necessary; neces-sary; that the city commission has the legal authority to borrow money for the payment of the 1915 warrants. No action toward payment is expected ex-pected before the completion in the next few days of the 1916 annual reports re-ports of Treasurer Allison and Auditor Audi-tor Larson. oo THIS AND FIVE CENTS' DON'T MISS THIS. Cut out this slip, enclose five cents to Foley & Co. 2835 Sheffield Ave., Chicago. Ill . writing writ-ing your name and address clearly. You will receive in return a trial package pack-age containing Foley's Honey and Tar Compound, for bronchial coughs, colds and croup; Foley Kidney Fills, for pain in sides and back, rheumatism, backache, kidney and bladder ailments, ail-ments, and Foley Cathartic Tablets, a wholesome and thoroughly cleansing cleans-ing cathartic, especially comforting to stout persons. A. K. Mclutyre Drug Co. Advertisement nn |