The Fort Worth Press (Fort Worth, Tex.), Vol. 15, No. 17, Ed. 1 Tuesday, October 22, 1935 Page: 12 of 12
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IVESTED
Delinquent Taxes Choke In-
terest and Sinking Fund,
Fiscal Report Reveals
By DAVE HALL
Delinquent taxes are choking
the city’s general interest and
sinking fund, while huge cash as-
sets of the same fund lie idle and
uninvested.
4 ■ The city has dumped $275,396
in 1934-35 delinquent taxes into
this debt fund, boosting the fund's
total delinquents for all years to
$619,485—nearly one-half its to-
tal assets.
In the same fund lies $704,302
in taxpayers’ money, losing the
municipal government several
thousand dollars a year because
it is uninvested. The delinquent
taxes, uninvested cash and $37,-
000 in securities make up the
fund’s total assets of $1,360,788.
This situation, revealed today
in the annual fiscal statement, is
partly a result of City Manager
George D. Fairtrace's policy of
making the general interest and
, sinking fund bear a pro-rata
share amounting to one-fourth
the uncollected tax levy.
Started in 1932, the practice
had built up delinquents in the
fund to $523,226 on Sept. 30,
1934, and gained another $96,257
net this year in spite of 8170,397
in collections, which were paid
into the fund for delinquencies of
all years.
This practice of sweeping de-
linquent taxes under the carpet
will rock the city’s financial
structure before many years, ob-
servers believe. The mounting
proportion of delinquents in the
sinking fund will eventually re-
quire that the general fund or
some other fund be robbed to
meet fixed debt charges.
Debt Charges Mount.
These debt charges, under a
new revised schedule, will amount
to $6,780,230 during the next
five years. The 1936 require-
ments—more than two-thirds of
it is for interest—are fixed at
$1,360,633, scaled down from
$1,399,538 by Council’s debt re-
funding program last spring.
There is further proof in a fis-
cal analysis that delinquent taxes
are throttling the city govern-
ment.
Of $203,531 uncollected 1933
delinquent taxes reported a year
ago, $472,332 are still outstand-
ing.
7 Of $556,552 uncollected 1932
delinquents reported a year ago,
$393,046 are still out.
Delinquents Divided.
Going back still further, a nine-
year summary shows there are
$2,366,336 in past-due levies
owing to the city government. Of
this amount, $1,648,894 is due
the general fund. The balance is
split between the general interest
and sinking fund, the, library, the
park and recreation general funds
and interest and sinking funds.
Figures do not tell the whole
story when they show that the
city's gross general bonded debt
was scaled down by City Council’s
refunding program from $15,632,-
000 on Sept. 30, 1934, to $14,-
851,400 on Sept. 30 of this year.
Cash and security assets of
both funds have dwindled, princi-
pally as a result of the refunding
program, and the waterworks net
bonded debt / has actually In-
/ creased, though none of its own
issues were marketed.
This happened because $965,-
206 cash and security assets in
the water fund a year ago have
decreased through bond purchases
and debt charges to $85,600 cash
today. The gross debt, the actual
amount of bonds outstanding, was
scaled down a less amount, from
$5,689,000to $5,160,100 in
same period.
Real Assets Shrink.
The same is not true of
the
the
general interest and sinking fund,
however.
Cash and security assets in
this fund shrank from $923,171
on Sept. 30. 1934. to $741,302
on the same day this year, but
the Council purchased a suffi-
cient amount of the city's own
bonds to give the net general debt
a decrease of 1598,730.
This reduction, offsetting the
--water department’s increase,
leaves a net decrease of $248,025
in these two phases of the munic-
ipal debt.
On another phase of the debt,'
an analysis shows that general
fund warrants outstanding were
reduced $230,159 during the
1934-85 fiscal year, this amount
representing a general fund "sur-
plus” on the city's books.
Lowers 'Visible' Overdraft,
Here, again, crops up the mat-
ter of delinquent taxes in the
sinking fund. Prior to 1932 all
delinquent taxes were set up as a
general fund "asset." Failure to
collect them naturally called for
more warrants to be issued and
worked to build up the general,
fund overdraft.
By crediting the sinking fund
with a portion of delinquent tax-
es, and other funds with a pro-
rata share, the city is keeping
them out of the general fund and
lowering the "visible" overdraft.
Were the general fund today
required to assume delinquent
taxes off the other funds, the
city's overdraft would exceed one
million dollars.
The city closed its fiscal year
Sept. 30, however, with $366,228
in general fund warrants out-
standing.
Notes Reduced.
In addition, notes and warrants
for ths Park and Recreation De-
partments wers reduced $12,466
during the year.
With these items considered In
the total debt, the final analysis
shows that City of Fort Worth
, obligations have been lowered
’ from $.0,088,286 to 819,597.634.
a net reduction of $490,651 dur-
ing the 1934-35 fiscal year. I
TH Dwinaling SAutingor Warner R
Petitions Are Signed For
Blocking Modlin St.
At North Hi Mount ,
Opposition to the closing lot
three streets in connection with
the school landscaping program
was reported crumbling in at least
one instance today while patrons
of another school prepared to dis-
cuss the matter at a mass meeting
tonight.
W. O. Dewees, principal of D.
McRae School, today said four of
the six original opponents to the
closing of Collard St. from Ave-
nue N to Millett St., had with-
drawn protests and would sign a
petition to be presented to City
Council tomorrow asking that the
AVENUE
NEW SCHOOL
PROPERTY
street be closed.
Mr. Dewees also said that peti-
tions with 350 signatures had
been given Councilman Harrell
asking that Collard St. be closed.
Lily B. Clayton School patrons
will meet at the school at 7:30
p. m. today to circulate petitions
asking that Warner Rd. east of
the school grounds be closed. Hal
S. Lattimore, attorney, will speak
and Mrs. Edwin T. Phillips and
S. W. Freese, School Board mem-
bers, will explain the landscaping
program. Mrs. W. C. Lowdon,
I’.-T. A. president, will preside.
Petitions asking the closing of
Modlin St. near the North Hi-
Mount School were being signed
today and will be ready for pres-
entation to Council tomorrow,
Miss Mary Chute, principal, said.
Mrs. Phillips and Mr. Freese
MILLET
N
D.MCRAE SCHOOL
PROPERTY
AVE
Opposition to the “ closing of a portion of Collard St. at
D. McRae School indicated by the shaded area above, has been
dwindling. Four of six original objectors now, favor the closing,
for the sake of landscaping purposes.
resentatives of the board, which
last week passed a resolution
urging the street closing and con-
tending that the WPA, which is.
will appear before Council as rep-1 were not closed.
spending approximately $2,000,-
000 on the school grounds, might
withdraw funds if the streets
' MYRTLE
ST
ping Erogram
ill Be Advocated Tonight
r 0 Cd Drunk
Police Find Him in Rumble
Seat, Surrounded by
Pot Plants
ed he had be
none of ther
W. SEVENTY ST.
NORTH HL-MOUNT
SCHOOL PROPERTY
MODLIN
NEW
SCHOOL
PROPERTY
MATTISON ST
The portion of Modlin St., bounding North Hi-Mount School,
which the School Board la seeking to have closed for landscaping
purposes, is indicated by the slanting lines. Vigorous opposition
to the move has been voiced.
PORT ARTHUR DOCKS BUSINESS CONDITIONS
LOADED WITH DANGER CONTINUE TO CLIMB
Waterfront Tense After Electric Power Hits Highest
Strike Clashes
Level On Record
W. ALLEN
NEW
SCHOOL
PROPERTY
SCHOOL STUDY
MUCH EASIER
WITH GLASSES!
Police looked in the rumble
seat and blinked. They saw hya-
cinths, geraniums and several spe-
cies of zebrina pendula, all la
pots.
The officers smelled tie driv-
*r s breath and withered.
They found him, eerene among
■■■•■■■■■I
JP/Sore, irritated Skin
Wherever it is—however broken the |
nggn surface-freely apply soothing •
Resinol
MONNIG’S
Basement
Day Said! 1000 Tarke
Prints
Vals.
to
25c
Yard
Afric
It:
BLA(
Selas:
era
Ta
By United Press.
PORT ARTHUR. Oct. 22.—La-
bor conditions on the Port Arthur
waterfront was loaded with danger
today as Sheriff _W. W. (Bill)
Richardson placed 32 new depu-
ties on dock patrol duty.
A group of 36 Indeepndent ne-
gro longshoremen were fired upon
last night by negroes and white
men. None was injured and the
attackers dispersed at once.
Etienne Christ, 34, strike picket
and member of the International
Longshoremen's Assn., was found
shot to death yesterday about 300
feet from the scene of the clash
ner the docks.
Two other independent workers
who were feared drowned during
the fight, appeared at St Mary’s
Hospital last night in serious con-
dition and near exhaustion. They
had been beaten critically.
By United Press.
NEW YORK, Oct. 22.—Im-
provement in general business ac-
tivity, noted in the last three
months, continued through Sep-
tember and the first half of Octo-
ber, the regular monthly survey of
business conditions published by
the National Industrial Confer-
ence Board said today.
Electric power output rose to
the highest level on record, the
survey said, while gains also were
registered in the steel industry,
residential building, railroad ship-
ments and the fields of distribu-
tion and trade.
Wholesale and retail prices ex-
tended gains, while foreign trade
in August was higher than July.
^-—————--e
Test Questions
PARK PLACE
L/LY B CLAYTON
JCHDOL
PROPERTY
.. .. short lensth
====== =H==
aa .ha Fruit of the loom
so-Square and r
Shaded areas in the diagram above show the streets ad-
joining the Lily B. Clayton School which the School Board has
petitioned City Council to close. Patrons will meet at the school
to discuss the matter tonight.
DOCTORS GIVE CREOMULSION
FOR DANGEROUS COUGHS
100% RIGHT
(ntical Sawice
Fitting glasses is an art-
After careful study, we
select the type of lens-and
design of frame especially
adapted to your face.
A Grand
One Day
Sale!
Monnig’s Basement
OFFICIAL ‘POUFS’ AT
MEXICAN REVOLUTION
Colonel in Air Corps Visits Briefly
Here
Col. K. Farrell, assistant chief
of Mexico’s military aviation, to-
day dismissed with a "Pouf!” a
query as to the seriousness of rev-
olutionary developments below
the border.
"The affair in Sonora means
nothing,” he said, as he waited at
Meacham Field to board a Bran-
iff airliner for Brownsville. He
will connect with Pan-American
Airways to arrive in Mexico City
at 6 p. m.
The Colonel, small, wiry and
dark, resplendent in the uniform
of the corps, is returning home
from Air Navigation Week activi-
ties in Washington,
NURSES ARE HEROINES
NEW YORK, Oct. 22.—Nurses
early today prevented panic and
possible disaster by transferring
patients, many of them bodily,
from a flaming wing of Samaritan
Hospital. Thirty-seven men and
women patients and 10 babies suf-
fered no apparent 111 effects.
Can you answer seven of these
test questions? Turn to page
9 for the answers.
1. Who was Sir William
Crookes?
2. Which former major league
baseball player became a famous
evangelist?
3. In which state is the city of
Holyoke?
4. Who was Augustin Daly?
5. Where is the Niger River.
6. Who played the role of Rob-
ert Montgomery's wife in the mo-
tion picture "Forsaking All Oth-
ers?”
7. Who is Rachel Crothers?
8. For whom is the Fahrenheit
thermometer named?
9. In the Christian ecclesaisti-
cal year, when is Holy Week?
10. Did President Franklin D.
Roosevelt ever hold a high office
under a Republican administra-
tion?
Thousands of doctors use Creo-
mulsion for -colds and coughs in
their own families as well as in
their practice knowing how danger-
ous it would be to let them hang on.
Creomulsion with creosote and six
other important medicinal elements,
quickly and effectively relieves
coughs and colds that otherwise
might lead to serious trouble.
Creomulsion is powerful in the
treatment of colds and coughs, yet
it is absolutely harmless and is
pleasant and easy to take. Contains
Beechwood Creosote in just the
form you nerd it and, in addition,
there are six other medicinal ele-
ments that aid nature to heal In-
flamed. irritated membranes and
throw off germs.
Tour own druggist, guarantees
Creomulsion by refunding your
money if you are not relieved after
taking dependable Creomulsion as
directed. Beware of the cough from
common colds that hang on. Always
keep Creomulsion in your home
ready for instant use. (Adv.)
$1 DOWN—$1 WEEK
RW. COOMBES
OPTOME TRIST
914 Main St.
Pardon Our Pride
WE are now official distributors in this
area for the beer that outsells all others in
MILWAUKEE by an overwhelming margin:
BEER
■
■
300
Nev
• Sport
- Brims
• Off-Face
• Turbans
• Black
• Brown
• Navy
Monnig’s Basement Hat Shop
S
By United#
WITH
ERN AR
23.—(Vi
press bu
it had
American
eral wor
caravan,
Ethiopia,
ers were
West,
tection r
dis A ba 11
The pr
a Germ
Klein, hl
leaving tj
gage had
Gambe
eentral J
the Suda
Phil RI
their two
Harold W
dren, ani
with Ami
terian) al
which Ini
beta. 40 1
border al
Addis At
400 ita
Slain ill
' By EI
(Coprig
ADDIS
diers fre
brought 1
unconfirn
Ethiopian
killed 40
ambush J
eastern rl
The so
suns wer
ramouflag
of scrub 1
loosely di
machine 1
fire until
column w
fire, the 1
opened us
moralizing
spraying I
they fled■
The cap
vinceasine
ed great
and south
ports from
an Italiang
SPECIAL
This Week Only
One Pair x
Gloves , 9
Cleaned <05 (
FREE N
With Each . U1
Dress at 1 I Y
the Regu- A W
lar Price AT
FREE u
DELIVERY \\ \ \\
Suede Jackets
Any Color,
Cleaned,
Refinished
MEN'S SUITS, CA
Cleaned, Pressed.... OUC
Men's Felt Hats.......75e
Ladies’ 1-Piece
Plain Dress.........75e
FREE DELIVERY
Dononuet e
CLEANERS AND DYERS
1209 Pennsylvania I 8-2641
Brown Says:
EXPERIENCE
In Dry Cleaning
Through many-
years’ experience 1
and constant
study of modern ,
methods, our
service has
made a
Park.
Place
Fort
Worth’s “
Leading Clean-
ers. Satisfaction
is assured.
This May Strike
You as
Ci
America’s finest slow-mellowed beer —
for flavor—-for quality
SUITS,
DRESSES,
OR COATS
Cleaned
Pressed
“When Better Cleaning is Done
Park Place will De If
HATS Ene
Cleaned, Blocked
and Reshaped.........EV
We Give san Green Trading Stamps
Dark Place
astounding
fact -
If you don’t happen
to know the Boer
Buying Habits of
Milwaukee
People in MILWAUKEE
should know what good
beer ie if anybody does. Re-
cently an independent con
sumer analysis, conducted
by ao impartial Milwaukee
newspaper, definitely estab-
lished Miller’samazing lead-
ership. It showed that 40.5%
of bottle beer buyers and
47.1% of draught beer buy-
ers in Milwaukee gave first
choice to Miller beer among
fifty different brands. There
wasn’t even a close second
choice.
BEER
A slow-mellowed beer at an |
economy price
Some people demand certain character-
istics of taste, and accordingly prefer
UNIVERSITY CLUB . MILLER EXPORT
BEER . MILLER MUENCHNER (dark) BEER.
There is no such thing as getting a glass
or a bottle of green beer, if you insist
on Miller.
There are no question marks about the
quality of Miller Beer. Eighty years of
unbroken prestige stand behind every
drop you drink. It is still made in the
same slow, gentle way as always. Perhaps
this is why Miller Beer outsells all others
in Milwaukee four or five to one.
Sizes to 10
AAA to C
Women’s and
Big Girls’
NEW FALL STYLE
SHOES
Taken from our higher
priced Fall lines. Special!
Street, dress, afternoon, eve-
ning, walking modes.
Black, brown, blue, white,
silver. Select from a big
table display.
PHONE 4-3254
• 1682 PARK PLACE
• MU NORTH MAIN
• MH ELLIS AVENUE
• MU HEMPHILL
821 Arizona
HIGH LIFE SALES CO.
J. CHANOSKY, Distributor
Fort Worth, Texas
Phone 2-1962
Monnig’s Basement Shoe Shop
Pro
Of
Carr
Inclu
Report
Yeste
Total
To Date
Goal
$48,058
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Sheldon, Seward R. The Fort Worth Press (Fort Worth, Tex.), Vol. 15, No. 17, Ed. 1 Tuesday, October 22, 1935, newspaper, October 22, 1935; Fort Worth, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1664452/m1/12/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Fort Worth Public Library.