Hammond Times, Volume 3, Number 40, Hammond, Lake County, 1 November 1913 — Page 8

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PAGE EIGHT THE TIMES. "November 1, 1913.

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In this age of Industrial Progress the Chief fMmn of the Big Institutions of the Country is to Place at the Head and in Control of their management men who will give to the business attention and honest effort, and the ability of men entrusted with the management of corporations and others is judged by their abilitj' to make good. The same is true of municipal corporations, the only difference being that the ability of the men employed to direct the affairs of the big private corporations of the country is judged and determined by the directors of these corporations while with municipal corporations the voters of the community determine the faithfulness and efficiency with which the affairs of their municipal government is being administered. If at the end of any given time it appears that those in charge of private corporations have not been able to manage and direct its affairs in such a way as to make money for the institution their services are at once dispensed with and an effort made to secure the services of those who can make good. On the contrary where a large private corporation secures the services of one who by his ability to properly direct its affairs succeeds in making of it a success there is never any thought on the part of those in control to dispense with the services of such a man, but he is from time to time advanced and his earning power to the corporation he represents is recognized by increased salary. When such a man is able to take a bankrupt institution and in the course of a short period of time place it upon a sound and substantial financial basis his services are considered almost indispensible, and what is ,true of private corporations should be equally true with respect to the management of the affairs of a great city. Hammond is todar the business and commercial center of the Calumet region. It wiil always remain so, especially if its municipal affairs are so managed and conducted as to command the esteem and respect of her people. In order to maintain the supremcy she now has she must maintain her credit and financial standing and today there is not a city in Indiana of the class to which Hammond belongs, that has the standing in the business and financial world that Hammond enjoys. Financiers throughout the country are clamoring for Hammond bonds. They are willing to accept them at 4 per cent interest. In addition to this they are willing to pay a premium for getting them, and there is no place in the United States where a Hammond city warran is not worth one hundred cents on the dollar. How different is the standing of Hammond in this respect as compared with its standing a few years ago. When the present Mayor John D. Smalley assumed the control of the finances of the city, as its City Comptroller, he found that it had no standing in the business, commercial or financial world. At that time there were outstanding against the City of Hammond judgments amount

ing to $65,141.29 that had been rendered upon warrants drawn by the city upon its treasury where payment had been refused because of lack of funds. No effort was being made to redeem these warrants and the holders thereof brought suit against the City of Hammond to recover'-'judgment for the purpose of being able to compel the City of Hammond to pay its just and honest obligations. In addition to that there were warrants amounting to $38,272.66 outstanding against the city that had not been reduced to judgment that the city had been unable to pay. These judgments and warrants were drawing interests at the rate of six per cent per annum and those who desired them could purchase them at eighty-five cents on the dollar. Many of them were purchased by non-resident taxpayers and the big corporations at eight y-five cents on the dollar, and used for the purpose of paying taxes at one hundred cents on the dollar, causing a loss to the city of fifteen cents on every dollar, aside from the interest which the city was eventually obliged to pay, amounting to six per cent per annum. During the time a great many of these warrants were issued and payment refused because of lack of funds the Republican candidate for mayor, Peter Crumpacker, was associated with the management of the affairs of the City of Hammond as its City Attorney. He found no wTay at that time to advance the financial standing of the city or take care of its just obligations and it is not fair to assume that he would give that subject any greater consideration at this time than then. If as Citv Attornev of Hammond he could not advise with the Mayor and relieve the bankrupt condition of the city then he ought not to be entrusted; with undertaking to keep it in the prosperous condition it now is. In addition to the outstanding judgments and warrants, $45,300.00 had accumuated on water works bonds and interest upon which payment had been refused. At that time there was $17,000.00 worth of bonds outstanding against the old water works system, making a total of $165,713.95 of debts contracted by administrations immediately preceding that time that had to be taken care of and paid during the period that John D. Smalley has been associated with the city government. Every dollar of this indebtedness has been paid in full and not one penny of this vast amount remains yet to be paid. There is today not one dollar of indebtedness of the City of Hammond aside from its outstanding bonds and every bond has been taken care of at maturity, together with all interest thereon. The man who has assisted and been largely responsible for bringing about this condition of affairs is now before the people asking for their endorsement, asking that this record of efficiency be approved and that he be continued by the votes of the people of his city on the 4th day of November to carry out this policy for another four years so that he may accomplish even greater results than have been brought about by him up to this time.

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1 So Cast Yoef Vote For JOHM B. "SMAUUSY