PAGE FOUR
MEDFORD MATL TRIBUNE. MEDFORD. OREGON. THURSDAY, JUNE 23, 1938.
OLD WATER LINE
BONDS TO BE PAID
IN FULUULY 1
Commission Will Liquidate
Obsolete System's Cost
With $196,000 Payment
Inherited Debts Met
On Jul; 1 the Medford water com
mission, with payment of S188.000
wlU retire the final block of bonda
of the old Flab Lake water ayatem.
The payment will bring the total
ajnount of water bonda retired tbla
year to M19.000, aa 33,0O0 of Med
ford water bonda uaued on tne new
Big Butte Springe line were paid In
tn the paat few montha.
At the time the water oonunlaalon
u organised by charter amendment
on January 16, 1923, the membera
found that they had on their handa
the bonded Indebtedneaa of two od-
aolete water ayatema and two laauee
of bonda that were uaed In distribut
ing ayatem Improvement!.. The va
rious bonds amounted to $385,000,
on which only 110,000 had been paid
during a period of 88 years, leaving
balance of (373,000.
The oldest bonda which the water
board Inherited were lasued In 1890
for the original water system and
mounted to S30.000. These bonds
were refunded twice once In 1900
and again In 1010. They still re
mained unpaid at the Inception of
the water commission In 1933, a pe
riod of 88 yeara. During the follow
ing seven years the water board built
a, sinking fund and retired this bond
In 1980.
Built In 1890
The original water ayatem for
which these bonda were Issued was
built In 1800 and consisted of an
open ditch about three miles long
delivering water from Bear creek to
well In the city, from which It
was pumped Into two wooden tanks
located in the city park. These tanks
were located 'on the present site of
the public library.
The second obsolete and unpaid for
ystem that the old water commis
sion had acquired waa the old Plsb
Lake aystem. This was constructed
In 1908 and consisted of 31.9 miles
of IG-lnch wood stovepipe that di
verted the water from the north fork
of Little Butte creek to Medford, the
Intake being 11 miles below Fish
lake.
Bonda amounting to 1393,000 were
Issued to Install this pipeline sys
tem. The water board retired the
first block of these bonds on July 1.
1938, with payment of 84.000: S.
000 waa paid In 1934, 87,000 In 1039
and, beginning In 1930, 810,000 has
been paid each year therealter. In
addition, a sinking fund was built
up to amortize the final block of
190,000, due July l, 1038.
Smaller Issues Paid
In addition to the above-mentioned
bonda, two smaller Issues of 839,000
ini 834.000 respectively were made
In 1908 for distributing system Im
provements. These have been paid
off since the existence of the water
commission, eiceptlng 818,000 which
bad been paid In 1931 and 1933.
All scheduled payments on the new
Big Butte Springs system, whloh was
put In operation on July 1, 1937,
nave been met aa they have become
due, a total of 8109.000 having been
paid on the 1936.000 Issue.
The sum of all bonded paymenta
made by the water commission since
Its organisation la 8631,000, thla to
tal having been paid over a period
of 16 Vi yeara. In the 83-year pe
riod prior to that only 815,000 was
paid.
Well Maintained
tn ..MiHon to the bond paymenta.
Intereat paymenta amounting to
8713.509.00 have been met In the
period from January 1, 1928, to June
1, 1938. Furthermore, the whola aya
tem has been maintained In an ex
cellent state of repslr, records show
Necessary Improvements nave wru
nmimmnwi nH made when the re
quired funds have been accumulated
A balance 01 awoo,uuu m uu,
lna bonds remains on the new Big
Butte Springs system. One Issue ol
the bonds becomes callable on Jan
uary 1, 1943, and the water commis-
., lm unW bulldlnt UD S Sinking
fund to retire ss many of them a
possible on that aste.
The water commission is particu
larly proud of the profit that has
been made In Investing the fundt
of the water bonding alnklng fund
As this fund was Increased each year
to provide for the 8195.000, which
becomea due July 1, 1938, the oaah
waa Invested In Olty of Medfora
water bonds, general obligation bond
of the city and other municlpa
bonda. In thla manner the funda
Instead of lying in the bank drawinii
a fraction of 1 per cent Interest
were earning the highest yield thr
market would afford on thla type 01
Investment. The records show that
837,101.86 was chalked up as net
profit during tne penoa win suuu
was being accumulated.
Investments Pay
During the depression yean when
investors were selling their bonds,
the water commission waa quletn
buying them up with the cash It
had available. Aa an example In
October. 1933, 86,000 worth of City
of Medford airport bonda were pur
chased for 83.000 from a private In
vestor. This price netted the bond!
to the city at a cost of 78 cents xn
the dollar. The bonds matured on
July 1, 1937, netting tne water oono
sinking fund a handsome yield on
the original investment.
This, records show, waa of court,
the beat buy made by the commis
slon. As general conditions Improv
ed the price of municipal bonds In
creased until the yield from this tyrx
of Investment wss not much mou
than could be realised from govern
ment bonds. In no ca. however
did the water commission fall u
earn a fair interest rate on its in
vestments, records reveal.
NAVY MAN SHOT
IN PARTY FIGHT
KANSAS CITY, Has.. June 38 VP)
A naval petty officer tumbled
downstairs with a fatal bullet wound
early today after a house-warming
party at the fashionable Lake 01
the Forest, and a fellow officer waa
charged with murdering him.
Sergeant Edgar 0. Bodgera, 87, waa
accused of killing Arthur O. Moeller.
40. chief petty officer at the Fairfax
airport. Bodgera told offloera Moeller
attempted to kua the hostess, Mrs
Judith Sudbrlnk, 35, but she resisted
him. Rodgers roomed at the Sudbrlnk
home.
Mrs. Sudbrlnk's husband, Harold,
a travelin: Insurance man, waa away
from home and ahe waa acting as hos
tess at Bodgera' party. Forty gueata
went swimming and came back to the
house for beer and aandwlohea, but
the party had broken up when the
shooting occurred.
JAP SENTRY HITS
AMERICAN CITIZEN
SHANGHAI, June 33. (API J. C.
Thompson of New Brunswick, N. J..
on whose behalf United States Con
s' Here's in exceptional
offer that creates summer
employment assures
you of unhurried and
convenient installation..
mi
Bring your home com
pletely up-to-date with ultra
modern gas heating. Banish
forever fuel handling, stor
age, smoke, ashes, odor and
Inconvenience. With a
gas "forced-air" unit, 1 finger-turn brings complete winter
heating-air conditioning and healthful summer ventilation
under exact humidity control. Enjoy cool comfort this sum
mer and invigorating warmth next winter. Order dependable,
economical gas heating now and save with low heating rate.
Immediate installation, yet nothing to pay until October 1,
then low, budget terms.
Tbtri's at gat beating unit Jor tvtry bomt
and punt. Information, tstimattt FREE Fmm
HERE'S NUMBER 1
IN THE MAIL TRIBUNE'S
GUESS WHO CONTEST
1 ""rwa
km
NO. 1
Can You Identify the Prominent
Medford Man Whose Picture
Appears Above?
THIS Is one of 36 pictures selected from the
Mall Tribune's photo engraving file for use In
this newspsper's "Ouesa Who" contest, which
starts today.
A different picture will be published each Issue '
for 36 daya. Each will depict some well known
Medford resident. A number will appear under
each picture. To enter your guess, merely write
down the numbers of the pictures as they appear
and opposite the number, the name of the person
you believe represented. At the end of the contest
send In. your guesses, plainly written, together with
your own name and address.
$8 will be given for the most accurate list
$5 for second best and
(2 for third best.
The contest is open to all. It costs nothing to enter.
Start with picture No. 1 in today's paper and
GUESS WHO!
sul John II. Allison at Nanking pro
tested to Japanese authorities yes
terday because of a blow from a
sentry, arrived In Shanghai today.
Explaining the Incident, he aald
he waa stopped and searched by the
sentry while riding In a Jinrickisha
from the Japanese embassy after se
curing a pass. -
"In the midst of tbe examination
I said -In Engllab, 1 shall have to
report thla to the Japanese embaa-
STATUS
BY
By,' " Dr. Thompson said, "whereupon
he Instantly struck me a, stinging
blow with his hand across the face."
Dr. Thompson is connected with
Nanking university.
SEMI-ANNUAL CLEARANCE
Coats - Dresses Hats
CTHELWYN B HOFFMANN
The Mohammedans credit Abra
ham for the invention of the alpha
bet and the founding of astronomy
COVERED
GREEN GLASS
ICE
BOX
DISH
LARGE SIZE-8 INCH
A. new pattern with improved safe grip han
dle on cover. This desirable feature makes
handling easier and prevents breakage.
Made of highly polished yf
clear green glass. A kitchen V I ' rtfe
item that will be in use I. J r 1
every day.
LIMIT 2 TO A CUSTOMER
1
EVERYTHING
FOR THE
HOME
GARDEN
HOSE
S2.85
Braided reinforcement in
sures long life. Brown.
M.in. six. Complete with
couplings. 50 feet.
Cart Iron
CHICKEN
FRYER
S1.39
Who doesn't like fried
chicken done to a golden
brown? Smooth casting
inside and out. lO'A in.
diam. Self-Basting cover.
8 in. Wall or Table Fan $1 .60
Lisk Cold Pack Canner .$1.29
11 pint Cereal Creamer.... ,. . . . 15c
Ice Cream Freezer, 2 qt 98c
1$ qt. Lipped Glass Pitcher 25c
Deep Sharp Orange Reamer. ..... 15c
Fancy Shaped Tumblers 6 for 25c
Enamelled Plates, Cups, Bowls, 2 for 35c
Two gallon Water Bags 80c
4 qt. Metal Bound Canteen $1.24
American White Cups and Saucers 15c
American White Dinner Plates. ... 15c
HUBBARD BROS., Inc.
Main and Riverside.
Phone 231
Because the bill to continue the
moratorium on mine assessments has
not yet been signed by the president,
and the many Inquiries as to the
present status of claim holders, the
state department of geology and
mlnerej Industries has Issued the fol
lowing statement:
1". Mining claims are not cancelled
uy the government for failure to do
assessment work but are subject to
relocation by citizens or those who
have declared their intention of be
coming citizens.
3. Doing assessment work is the
essential thing In order to hold a
claim. Filing a proof of labor Is
prima facie evidence only which
throws the burden of proof
upon the contestants that the work
was not done.
3. If a claim owner starts work
before noon of July 1 and proceeds
with reasonable diligence (say five
days' work per week) to complete the
assesment work for the year ending
on that date, he preserves his rlgnts.
The moratorium does not alter the
laws other than to relieve the claim
owner from doing assessment work
provided he files a declaration of de
sire to hold tbe claims, provided he
Is not a federal Income taxpayer, and
novlded that his declaration applies
1 not more than, six claims for an
idivldual and not more than 12
aims for a corporation, partnership
r association. Corporations, paying
jicorae tax, are Ineligible to exemp
tion. The federal government does not
become actively Interested In claim
matters until an owner starts to pat
ent his claims. The moratorium on
assessment work, as we understand
It, has no effect on the basic federal
lay pertaining to mining claims nor
to itata laws other than relieving the
owners, under the conditions stated,
of their assessment work for the year
In question.
Name O. O. P. Chairman
PORTLAND, Ore., June 28. (AP)
vnvi Brown. Portland attorney, was
elected chairman of the Multnomah
county Republican central commit
tee yesterday. Mrs. John L. KaroopD.
pro-America candtdte, was named
vice-chairman. Tom J. Kreuder, a
farmer, beat out Jerome B. Buckley
retiring chairman, for the post of
state central committeeman.
Find Body In River
PORTLAND. Ore., June 33. (AP,
The body of a man about 65 years
old was recovered from the Willam
ette river last night. The only Iden
tification was the name "T. L. Smi
ley" on a case which came from a
Pasadena, Calif., optical company.
ayiWSjssM
D5
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Values to
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NOW
59
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