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Letter to Editor
October 16, 1884
Evening Capital
Annapolis, Anne Arundel County, Maryland
What is this article about?
Letter from J.R. in Annapolis corrects a newspaper report claiming the city's sinking fund reduced by $938.50 as of July 1, 1884; actually, it increased by that amount, exceeding ordinance requirements and reducing the $9,871.67 bonded debt, set to mature in 1900, ahead of schedule. Editor acknowledges the correction.
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The Sinking Fund of the City,
ANNAPOLIS, October 13, 1884.
Mr. Editor:
A paragraph in your issue of this date relating to the Sinking Fund of this city, states, that it appears from the report of the commissioners of said fund. that the reduction in the fund up to 1st July last reached $938.50. As the statement may mislead, I desire to say that the fact is, and it was so reported to the council,that for the twelve months ending 1st July. 1884, the Sinking Fund had been increased, (not reduced) $938.50, being $410.17 more than required by the ordinance. I will further remark that every increase of the Sinking Fund is a corresponding reduction of the bonded debt of the city. The bonded debt to be provided for as of the 1st July, 1884, amounts to $9,871.67, and does not mature until the year 1900. By continuing the present policy, said debt will be wiped out long before maturing.
Respectfully,
J. R.
We make the above correction with pleasure, having received our information from accounts given in the correspondent's reports to the city papers.-Ed.
ANNAPOLIS, October 13, 1884.
Mr. Editor:
A paragraph in your issue of this date relating to the Sinking Fund of this city, states, that it appears from the report of the commissioners of said fund. that the reduction in the fund up to 1st July last reached $938.50. As the statement may mislead, I desire to say that the fact is, and it was so reported to the council,that for the twelve months ending 1st July. 1884, the Sinking Fund had been increased, (not reduced) $938.50, being $410.17 more than required by the ordinance. I will further remark that every increase of the Sinking Fund is a corresponding reduction of the bonded debt of the city. The bonded debt to be provided for as of the 1st July, 1884, amounts to $9,871.67, and does not mature until the year 1900. By continuing the present policy, said debt will be wiped out long before maturing.
Respectfully,
J. R.
We make the above correction with pleasure, having received our information from accounts given in the correspondent's reports to the city papers.-Ed.
What sub-type of article is it?
Informative
What themes does it cover?
Economic Policy
What keywords are associated?
Sinking Fund
Annapolis
Bonded Debt
City Finance
Debt Reduction
Fiscal Correction
What entities or persons were involved?
J. R.
Mr. Editor
Letter to Editor Details
Author
J. R.
Recipient
Mr. Editor
Main Argument
the city's sinking fund increased by $938.50 in the twelve months ending july 1, 1884, contrary to the reported reduction, exceeding ordinance requirements and reducing the bonded debt of $9,871.67 ahead of its 1900 maturity.
Notable Details
Reported To Council
Exceeds Ordinance By $410.17
Editor's Note Acknowledges Correction From Correspondent Reports