Medford mail tribune. (Medford, Or.) 1909-1989, November 28, 1916, Image 5

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Medford mail tribune., November 28, 1916, Page 5, Image 5

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Newspaper Page TextNEW PLAN FOR REFINANCING OF CITY EXPLAINED WEDFORT) MATTi TRTBT7NT5, irEDFORP, ORKCJOX, TUESDAY, XOVIttmETT 28. 19JG PATJE FJVE Audience of Business Men Hear Mun icipal Counsel's Scheme for Unravelling City's Tangled Finan cial System Contrast Is Made With Medynski Plan for Rcbonding The now plim fr le ivfinniii-ins of the i-ily wns dismissed at lorlla het'm-e 1111 nii.lieiiee uf f00 ieole"iit the Nntatoriiim Inst niKht liv Colonel llownrd A. Hanson of Scuttle, the inituit-iMil expert retained lay the eity rouiiril to unravel the city's tangled financial web. " Colonel Hanson explained in detail the workings of the proposed Mcdyn Kki plan, showing the additional heavy levies to he added on an al ready hie.li tax harden, should this plan he put in effect. The city plan contemplates the en- tire reorganization 0f the city's fin nncind system, including the 'general debt, the general water honds and ini provement dehl for sewer and water main its well us pavement. Payment for nil improvement indebtedness un der this plan will be spread oat sys tematically ami ecnly from 11117 un til lil.'iO, the lond heiiiR as far as possible etrjalized and only interest to be peJa during the next three yenrs. Under Modynski rinn. Under the Medynski plan, Mr. Hanson showed, the heaviest burden will fall upon the city during the next several years. These are the years when the load of improvement indebtedness will also he heaviest. In the explanation of the plans, a large chait was used, showing prin cipal and interest payment of the general debt nnd levies under the eitv plan and under the .Medynski plan, from 1017 until 1 !).'!". Two schedules ero worked out for the Medynski plan, one based upon the assumption that bonds to refund the paving in debtedness, which would, under the plan, be )ut u (he city, would sell, and the other based upon the as sumption that they would not sell. This schedule showed that in .1017 under the city plan Ilia levy would be 40 mills; if the Medynski bonds sell, f4 mills; if Ihcv do not sell, 3-1 mills. In l!H8 under the city plan, :Wj mills; if the Medynski bonds sell, 5414 mills; if they do not sell, 8514 mills. !)l(l. city plan, :!:.', ; if Me dynski bonds sell, 54 i if Ihcv do not sell, 8:1. 11C17, city plan, 38':: mills; if Medynski honds sell, 511 mills; if they do not, 43 :, mills. Un der the Hanson or city plan the load is uniformly distributed. Side of Heads linprolnl le. "Should the Medynski plan carry," said Colonel Hanson, "1 consider it extremely improbable that the bonds could be sold at 5 per ecat, as the plan calls for. In almost every state a city cannot e.o in debt over 5 or 10 per cent rf its valuation, and in most states there are laws which prohibit the holding of bonds of cities having more than that tier cent of indebted ness by trust comit:mics nrd savings banks. If the Medynski plan went into effect Midforu's total debt would be over 371, per cent of her assessed valuatiin. Naturally, then. Mcdford cannot hope to compete in the sale of bonds will) other cities whose indebtedness is within the limit of safety. It is probable that the bonds will not be sold at all, inas much as the measure prevents their bale at anything over ." per cent.'' Colonel Hanson has recommended that the city issue the bonds for re funding under his plan at 0 per ccnl instead of per c ent as in that way ho considers that the city can actu ally sell its bonds and complete the reorganization of its finance. I'n der his plan the percentage of city indebtedness will run about V- pel cent, a little above the margin ot safety, but still low enough to assun favorable bills. I'aviiHiH fuller rily I'laii. Vadcr the city plan, fifteen-year refunding improvement bonds will bo issued. The first three years prop erty owners will be compelled to pay only interest on their special assess ments. For the following ten years the miyments will be in-tallmcnts of one-tenth of the principal. These ten yearly payments, he suggests, should be split in two parts each and paid semi-annuiilly. Snrcnd out over this term of years the loud of paying for the pavement, sewers and watei mains assessed against property will not be heavy any one year and as sessments against practically all property will be paid. Some will be lost, but that is inevitable under any plan. Alter the expiration of the ten years, two year- will be left as a mnrcin of safety lor the retirement of I be lo.niK The new principal to be assessed against each piece of -'roperty will be composed of the old unpaid principal plus delinquent interest. As each 11c eount is settled in full it will be can celled and the property eunnot again ho assessed. Would Increase Lew The eity should not, nnd really cannot ussiune the burden of paying for pavement on street intersections, Col. Hanson stated. It would increase the tux levy malenally and would benefit owners of corner properties hut little too little, in fact, to war rant the litigations and rearrange ment of assessments that it would necessitate. Next March, fl,-j,(00 payment on improvement bonds is due. To meet this nayment the city has !fl."),000 on hand. This cannot be paid out of the tnx levy, as the taxes will not, in the main, be paid before April first. The payment must be met, then, by re building under the eity plan. Hut these 5 per cent bonds eunnot be sold under the Medynski plan and the cit must raise this in the next year's levy, making the levy .14 mills. There is no doubt as to the legality of the Haneroft bonds issued by the city, according to Col. Hanson. The city's mime on the bond is placed there merely ns the nidorser places his nnme on n friend's note. Indors ing them in this manner enabled the eity to sell special improvement pa per at a better figure than it could have done otherwise. Today the budget committee meets and will decide whether the city plan shall he adopted or whether nn addi tional levy of 8 mills, which would be necessary should the Medynski plan earn-, shall be placed on the budget. The various meetings held have been for the puriwse. in part, of gnnging public sentiment. If the sentiment of the meeting last night may be taken 11s a basis of Judgment, the citizens of Med ford are overwhelmingly in fa vor of Colonel Hanson's businesslike working out of the city's problem, and the keeping of the tax levy at n .low level. FIRST DEGREE MURDER HUNTSVII.LE, Va., Nov. 28. Da vid U Overton, former clerk of Madi son county circuit court, on trial hero tor the murder ot Probate Judge William T. I.awler, his political op ponent, today was found guilty ot Jtlrst degree murder. - The court set January 12 for the hanging. He pleaded self-defense. IPORTLAND MARKETS Portland Livestock. POItTLAN'D, Ore., Nov. 28. Hogs steady: receipts 171. Prime light, $9.70 ft' 9.75; prime strong weights, $9.75 9. Sii; good to prime mixed, ?9.50(3 9.5Ti; rough heavy packing, $S.50 iff 9.10; pigs and skips, $$.25 & 8.75; stock hogs, $78. . Cattle steady; ercelpts 89. Steers, prime light, $70 7.25; prlmo heavy, $7jf7.30; good, 6.750 7: cows, choice, $5.75 6.15; medium to good $5.25 5.50; ordinary to fair, $1.50 5; heifers, $5iG; bulls, $2.75 5; calves, $5 Sx 7. Sheep firm; receipts five. Choice lambs, $8.75 fi 9.25; common lambs $7 Oi 7.50; choice yearling wethers, $7.S05i 7.75; good yearlings. $7.50if 7.65; choice light ewes, $5.50jC; heavy ewes, $5!?) 5.50. YKEKA, Oil., Nov. 28.-11. K. Collier, attorney of Yieku and presi dent of the First National bank of Yreka, was indicted by the grand jury Saturday for the embezzlement of .f(iUIK) from a mining copartner ship, among whom are II. K. Vail, C. C. Keyes, Western Pacific agent nt Oroville, and son, George I). Keyes, of the same place. The embezzlement charge urose from the sale of mining property lo cated six miles from Happy Camp, on the Klnmath river. Hail of ifflUOO was fixed, which was given. Arraignment will bo Friday. The indictment grew out of the sale of mining property in the Happy Camp district. Collier has lived in Siskiyou county for many years. Deeds Property Phwtly. The indictment against Collier al leges, District Attorney Allen stated today, that the mining property in question in the Happy Camp district had been placed in Collier's bnnds to sell by C. C. Vnil and the Keyes brothers of Oroville, with the agree ment that tbev be notified whenever n purchaser was found. Collier him self held but a tenth interest in the claims. Collier succeeded in having the propert" placed in his hands with the power of attorney to make the sale. The Keyes nnd Vail placed their deeds to the property in escrow in the Hunk of Montague, but Collier deeded the proerty directly from himself to the purchaser, the Six Companies. He received $15,000, the indictment states. This wns in April, 1015. Keyes Ilrotlters Investigate. It was not until June, 1015, that the Keyes learned definitely that the mining property had been sold, Col lier having represented to them that he bad not yet made a sale. Fin ally he told the Oroville men that he hud been paid but $8000. They inves tigated and learned that $15,000 in cash had been paid to Collier. They brought suit against Collier in Au gust, 11)10, attaching his stock in the newlv formed Hank of Yreka, nnd de manding that the district attorney ninko an investigation. ' 1 The evidence placed before the grand jury resulted in the returning of the indictment charging Collier with the embezzlement of some $0000 of the $15,000 alleged to have been paid. The investigation of the case by the Keyes developed that shortly lifter the mine sale had been consummated Collier, with four others, organized the First National Hank of Yreka. T AT PAGE TONIGHT Tonight at the Page thuatro the Mcdford Choral Society, comprising the best muslr.tl talent ot the valley, with a cbonu ot 125, will render th-I following prog! am, under the direc tion of George Andrews: l'mt I. "Hall Bright Abode," Tanuhouser . Wagner "A Rondel" W. C. Macfarlane "Concorto" No. 4, G, Cello Solo, G. Goltermoim Horace V. Heno. "Miller's Wooing" E. Failing Alisfi Florence Hazelrigg. W. F. Isaacs, and Chorus. "Vlssl d'Arto" ("La Tosca")... Puccini Miss Florence Hazelrigg. "Soldier's Chorus" ("Faust") Gounod "Song of the Triton" Mnlloy I'm t II. "Inflamntus" ("Stabat Mater") KosBlnl "Sweet and Low" Barnby Unaccompanied "Chant d'Automne' Trio TschalkoWBky W. Carlton Janes, Horace V. Reno, Mrs. W. Carlton Janes. "O for the Wings of a Dove," Solo and Chorus Mendelssohn Miss Florence Hazelrigg and chorus. Sanctus, "Masso St. Cecelia," Gounod Fletchor Fish and Chorus. MARRIED ,T. X. Ilockersmith of Mcdford nnd Mrs. Martha J. Shook of Ashland were married November '26 at the home of the bride's sister, Mrs. M. M. Kinsman, 12(i Pioneer avenue, in Ashland. Hev. II. A. Curnnhun of the Presbyterian church wus the of ficiating clergyman. Only n few im mediate relatives were present. A sumptuous wedding repast wns serv ed, the happy couple leaving soon af ter for their futue home in Mcdford. Mr. Ilockersmith. has retired from business and is" pile of southern Ore gon's most respected citizens. Mrs. Ilockersmith is loved by all who know her. The participants arc both of well-known pioneer families and the wedding is the culmination of an old time friendship.., Both have 11 host of friends who .wish them much hap piness. , E l'irt-tlair.l Butter. PORTLAND, Ore., Nov. 28. lilit ter unchanged. Chit-ago Wheat. CHICAGO, Nov. 2S. Wheat: Open Close December 1.73 $1.60 May 180 1.71 ' Portland (iinln. PORTLAND, Or., Nov. 28 Wheat easier. No trading. Spot bids 2 to 5c lower. Mlunstem, $1.5(1; forty fold, $1.48; club, $1.48; red Ruo i'iin, $1.16. Uarlcy $2 lower. No 1 feed, $38 h-d. 'loday'j car rcr'pts: Wheat 9, barley i ohts 8. bay I Rev. Paul Handy of Central Point entertained the Drama I.oaguo last 'evening at the public library with a I splendid lecture on Shakespeare. In a studious review of the poet'B works ho pointed out tho wonderful breadth and catol'cisin of bis genius, making bim( as no other man of letters, above the limitations of nny clasB, any na tion, or any age. The speaker referred to tho relig ious quotations of Shakespeare as from the mystery plays and Latin Vulgate, Instead of the St. James Version of the IJIblo, which was pub lished after all of bis works, except "Tho Tempest," while Ilacon's limitations, written alter the St. James Version, was published, were manifestly from that work, a strong refutal of the so-called Bacon- lan theory of authorship. This lecture marks the close of tho league's participation In the nation wide celebration of the Ten-centenary of Shakespeare's death. Why "Anurlc" Is an INSURANCE , Against Sudden Death. Hcfore an Insurance Company will take a risk on your life tho examining physician will test the urine and report whether you ore a good risk. When your kidneys get sluggish and clog, you suffer from backache, sick-headache, dizzy spells, or the twinges and pains of lumbago, rheumatism and gout. Tho urine is often cloudy, full of sediment ; channels often get Bore and Bleep is disturbed two or tbreo times a night. This is the time you should consult dome physician of wido experience such as Dr. Pierce of tho Invalids' Hotel nnd Surgical Institute, Buffalo, N. Y. bend him 10 centa for sample packago of his new discovery, " Anuric." rite hiin your symptoms nnd Bend a sample ot urine for test. Experience has taught Dr. Pierce that " Anuric" is the most powerful agent in dissolving uric acid, as hot water melts sugar; besides being absolutely harmless it is endowed with other m-operties, for it preserves the kidneys in a healthy condition by thoroughly cleansing them. Being so many times more active than litbia, it clears tho heart valves of any sandy substances which may clog them and checks tho degeneration of the blood-vessels, aa veil as regulating blood pressure. "Anuric" is a regular insurance and life-saver for all big meat eaters and thoso who deposit lime-salts in their joints. Ask the druggipt for "Anuric" put up by Dr. Pierce, in 60-ccnt packagoe. STRENGTH AND BEAUTY Co with Dr. Pierce's Golden Medical I Discovery. This is a blood cleanser und I alterative that starts the li"er and stom ach into vigorous action. It thus assists ! tho body to manufacture rich red blood J w-hich feeds tho heart, nerves, br:vin and organs of tho body. Tho organs work I smoothly llko nuo-hlnory running In oil. 1 ou 1001 clean, siinng ami mreuuuus m Stvttd of tired, weak and faint. With Medford trade is .Mcdford made For the best Insurance see Holmes 1 he Insurance Man. TOO LATE TO CLASSIFY WANTIID -Klfieen or twenty good ewes. Arthur Myers, Rogue River, Ore.. R. F. I). 1. 219 DIAMONDS AND SUCCESS Wearing iliamonrls Kives an ulr of iro:-i!jrHy that brings greater success. Everyone knows that .liamoiub ir I t'h, and that no u'io can wear hom, who has not considerable mratiB or flrnt-class crodR, If, then, you wear them yoi are uhowins positively that you ari ;it least on the road to prosperity r.r.d it is humnn nature to pay tri bute to success by helping it to further success. It Is business for a lmsirtt'.; n:an to show tin, lie is uccessfu', lor It will bring lilm more and better customers, and there Is no better way to show that you are successful than by wearing well-chosen diamonds. All our diamonds are correctly graded by experts, with exact weights, qual ities, and lowest prices marked In plain figures. If you want the best set It at Reddy's. MARTIN J. REDDY, The Jeweler 4,2 K MAv STIIKKT IKH'SK OK Ol'AMTY VISITORS AI,VAV WKM'OMK (K-t It nt Itcddy's THROUGHOUT CITY The long-expected extension of city delivery service Is about to bo real ized as Postmaster Minis bus been authorized to extend 'service 10 the following streets as soon as the re quired Improvements aro made: Portland ave., Fast Main St., to Eleventh St.; Queen Ann, from Roose velt ave., to Mc Andrews Bt.; Reddy ave.. from Roosevelt ave., to Mc Androws St.; South Central ave., from 13th Bt., to Hoyd; Park ave., from Dakota ave., to Catherine st.; Catherine st., from Park avo. to King St.; Dakota avov from Newtown to Peach; Beckman ave., one-half block from Dakota avo.; Oak Bt., from West Jackson to Clark; Alder St., from We6t Jackson to Clark; Narregan St., from West Jackson to Clark; Welch St., from West Jackson to S. P. right ot way; Clark at., from North Central ave., to Monzanlta. Before service will be Inaugurated It will bo required that prospective patrons provide a suitable mall re copticle. This need not be an ospcu sive mall box, but tho post offlco de partment Insists that some sort ot box shall bo erected for tho recep tion of mail. All patrons ot tho poBt office are asked to co-operate in making tho service offieiont by Insisting that their letters bo addressed to tholr street and number, thereby eliminat ing delay and assisting the postal clerks in speedy distribution. As Christmas comes on Monday, making two holidays together, per sons sending Christmas packages and letters are requested to do their niall- AVEHAGE COST STUDENTS FOOD 8.3 CENTS PER BALEM, Nov. 28. The com mons co-operative ciub of Wllllaui ette university, composed of 26 stu dents, during October furnished Its members with three meals a day' for an average cost of 24.8 cents a day, or 8.3 centa a meal, It wbb annouaced today. This cost also Included tho salary of a cook, fuel and light. The actual price paid for foodstuffs for each student wus 18.8 cents a day or 6.3 cents a meal. Students do all the buying, serving ot meals, washing dishes and other work. F. E. Prlddy and C. F. Woraer, students, have charge of the purchase of food suppllos, and at the cost stat ed they said today they were able to obtain a wide variety of food and satr Isfy the appetities of the club members. Disease results trom nerve pressure and abnormal circulation, Dr. Hedges Ing early to avoid delay. 235 E. Main. SURVIVAL OF THE PUREST ' Swt Caporal is die only cig- !mte 10 survive l ie test at forty eart on the market and remain a national favorite, steadily Rain ling in popularity. Because in four decades the cigarette industry has teen unable to produce a better cigarette Sweet Caporal is the purest cigarette that can be made b with a pure tobacco flavor that fias never been duplicated in any ther cigarette at any price. - ti roved in lias givfi vtage-coii he expr bweet t arctic, rrl in lour d unable t rette 1 ever Sweet purest ciJ witn a lias neve other ci; CIGARETTE PURITY PROVED IH BLACK AflO W.W Smokers who watch the mterest hig Sweet Caporal demonstration re shown something different The demonstrators burn some or dinary paper (or them, which leaves a black ash. Then burn some of the hifjh-grade, imported r rench ciit:irot Thus before their, eves smoker have the proof of Sweet Caporali I demonstrators explain that thi pure, tasteless, odorless, Sweet) Caporal paper the purest best IH EVERT CIVILIZED COUNTRV-'-SWEETS" Sweet Caporal cigarettes are' smoked, in every civiliied country Ion the globe. 1 he world-wide de mand for sweet Caporal grew ipunty in black and white. The without advertiiing of any kind remarkable record of this fa mous original cigarette Ameri- m i n hi mill - r. ?m I if ii WJMmM m S!7 Of A IV .? aC' L So iN m m i i hi u CajKjl 0g0F9 tamiliar featurcSl(?crvictf l ' THE FIRST SMOKE Nearly every man has fartrd smoking with famous old Sweet1 Caporal, th$ original cigarette .vcu Cano-' i league stars "Sweets, ' because their purity insures whulcsomc enjoy ment. "GOCDOlifsWEETS". That is the name by which Sweet Caporal cigarettes are af fectionately known to millions of smokers les are thel ical men ' teen thous-f the Unite utes are Sweet Caporal smokers.) No creaier tribute could be natd to the purity of SwccC Capon V SWEET CAPORAL IN THE; service: In the U S Army and NavV Sweet Caporal cigarettes are ft universal favorite, and have been for over forty year. Today at trverv officers mess, at every fort mcnt Enscball nnd Sweet Cap- and on ever)- battleship. Sweet Laporal wi1 be found a taouutf. feature ol the bervtce ,ccaue m four cipnrette industry ha: unable lo produce a better cigarette. AMONG BALL PLAYERS no other cigarette cnloys the wide spread: popularity oi bwect capo ral. Mundrcdsof big league star; smoke ''Sweets," because their purity insures wholesome enjoy' oral have been national favorites for four decades. GET AFTER THESE DOLLARS Our town should get. till of the trade in our t ratio area. Yv can't worry about our neighboring town's business. We have enough to do to take care of our own. I'ut we should get all of our own. How about these dollars that aro get ting away from us I How about the dollars that are slipping through our fin gers i We have I he goods. We have the values. Our prices are right. And yet there is a lot of money slipping away from us constantly. The best way to get after this money is to tell the truth about the man or the system that is taking it away. Join in the Trade-at-IIoine campaign.