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> raaauaay” 9- -1949

IF Yflll PTIIEI DIES...

will the firm l» endewered? '5 ‘hi; esgnual capital be . drum; g stranger forced upon ' vou in his place; settlement liifliniitiea with_bia widow en- counter Business assurance m“ ‘(award _your firm from mch evbntualitiea. Protect your own buainem — me Y- $UN LIFE ASSURANCE QQMPANY OF CANADA

looking liheaii

HALBOBAKER

J7 Unit Supervisor ,

Still LIFE 0F Bllllll 1B Richmond Street

Charlottetown. P. E. L

Th! "ll-Wins auditor's report, accomp nied by a dgtgllgd Sta“. merit, was submitted at last night's 851111181 meeting ‘f the city 43mm. c z

Cyientlemen: In accou-damg will, my lPMlfll-ment. I have audited the accounts and records of your (my Clerk's Office for hhc- yea: ended December 3151., 1948 and a‘.- tach statements of my findings as hereunder: Balance Sheet as at December 31st. 1948: Civic or‘ Current Account, capiiql Account Trusts and Sinking Furidg; stale. merits for the war: Revenue and Expenditures, Current. Account, Receipts and Disbursements. Our- reflt Account. Capital Account. Sinking Punds. Housing Account. O'Connell Picnic Fund, All o; which are in accord with the au. dited records and in my opinion are properly drawn up. w a... to exhibit a true and correct view o1 the City's affairs. subject to this report.

Currant Account Balance Sheet

‘This is set out in the same form B! last year. Cash on hand is VET? largo but this is due to heavy Yewlliil! 3i Year end. not actually entered until December 31st,. 194a hut shown as cash on hand at that date.

'I‘_he reserve for uncollectable taxes now stands at 314755425. No increase in the reserve was considered necessary for 1948 and none is considered rieciessnrv 1m-

? fllvlcflalrs

/Con'tinued from Page 11

l quiremeuts of the several depart- l the-his and the services these de- partruents render the public. These "Committee meetings have also had who effect of adding much to the lyjpatisfactory Council meetings which vzwe have. enjoyed during the year dust closed "i-Jrilir in the year, accompanied by lli- late Councillor Dnylc. I at- tended the meetings of the Federa- tlOfi of Mayors and Municipalities uhlch took place in Halifax. litany maiteis common to all municipal- ities 1' are discussed and much belie- (st “as derived from our confer-

‘REP

Oivio Water Supply

Dining the summer, in order to '12‘? sufficient. Water for Civic needs, and as a result of a com- plele survey conducted by Mr. Wil- Marx‘. Lea of Montreal. with the as- llstance of Mr. Stanley Matheson. the Department's superintendent, n "rater supply with a capacity o! acpm rnately 1,000,000 gallons was t Union. In order to tie in with the Brackley ing to the reservoir. a station was erected and a

labor contract let. the material be- _ lag furnished by the Department.

To this encl, 5100.000 20 year 315%

bond u-ere appropriated. but as

this proiect is not yet finished the t. cost cannot be determined.

This amount may not all be ab-

sorb _

‘Then too. a new asphalt plant was set up. These two items mean

i; much to the future of our City in the servicing of the citizens with adequate water supply and first class streets. agreement entered upon with ‘the Central I-lousing & Mortgage Corp. to erect 29 houses in the north-cast end of our City. The ac- . filiillllg of these homes has done touch lo eliminate the housing shortage in our City. ' u "Tire year closed has been one of Fvllvli)’ in every department, and i-whcii one considers the great zuiotiiit of work done to give the

Wviwvs which we have for the

Iisi twelve months. I fcel surc

llwt you can feel quite satisfied

Mull your efforts iii spite of the

Iici that. the audited statements of lhc City Clerk show a deficit of

"Jill-r I know of no re-

1111M which was reasonable. wheth-

"r hig or small, that did not receive

'1lit"f1flOl\.

"it. is not my intention to deal Willi each Committee separately- Yllw- rcporis you have pvt-pared oii -l11’ ivrirl: done by your respective lPPJYlmciits will be sufficleill.

Served City Well

I llcrc record with deep

lllllllfllilllll SLEEP?

Famous Cough Drop Formula Llquoflca Dry Tickle Brings Fest 3=Way Relief Go after offuuivc minor coiilhl dill to colds or smoking, at the first: scratchy “ticlsie". Get Smith Brother: famous Bl

ibrec important ways: 'l. Eoulhrcnfliclilo i. Soothe row, Irritated

membranes _ 34 Help lccacn phlegm

‘DH-ll

1949- The amount of $4540.85 was 011M811 Off 15,47 and previmig yam-g by the Appeal Court. The 194B levy was $21,021.03 more than that. of 1947. Inchded in the outstand- ing Poll Taxes is an amount of $55,236.32 in respect of 1943 and Previous Sears. 1 again urge that action be taken to consider writing off these accounts against the re. serve for uncoliebtable taxes. Collection of taxes is very sails. factory and the collection of cur- rent Poll Tax has improved con- siderably over previous years. Accounts receivable are set out in detail in the balance sheet. Motor trucks. Police patrol and office equipment are shown at last year's amounts. plus 1948 purchases an-l less total deprecia- Lion 0f $i.500.00.

The amount of $2446.51 owing to Current Account from Capital Account was received during the year. In addition‘ the amouift of $276.50 due to Housing Account by Curran» Account up; rrpaid 1101:1113 10-18

Capital Account Balance Sheet

CapitaiAssets are shown at last year's figures. plus expendi- ture made during the vear. lu- cludiriir overdraft interest and less. receipts and sales. T have accepted the capital expenditure as mark- cd on the vouchers.

Collection of old assessments for streets and sidewalks continues to exceed expectations and the re- serve for estimated uncollectable items again exceed the actual as- sessn-ienls at December 31st,. 1945. The excess of $3.231! 63 ‘has been transferred to capital surplus. Th:- Bank Overdraft now stands nt 3139371630 and I recommend that debentures be iszucri to fund this debt as soon as possible. During the year debentures ma- tured to the amount of 317800000 ivhlc-li with $4. 600.00 matured but not. presented for payment in prev- lcus year's made u total of $182.- ~800.00. Of this $178.500.00 was pre- sented and paid in 1948. leaving a bflance of $4100.00 not present- ed and canierl as a. liabllitv on the sinking fund balance sheet.‘ The amount, of unsold Citv of Charlottetown bonds $23.000.00 shown in the slnktnv. funri balance sheet. December 31st. 1947. were cancelled by order of the City Council and destroyed bv the City Clerk and your auditor. The amount of these bonds was incor- porated in a refunding issue tn- talling 398.5000!) which was sold during the _veai~. a. premium of $19.70 being realizcri. In addition

regret the uutimelv passing of Councillor S. F. Doyle. chairman of our light committee. Councillor Doyle was a very active chairman. and his interest and enthusiasm not only as chairman n! his particular Committee. but. on all the Com- mittees of \\'lllCi1 he wns n member. mnrlo hini a most valued man rii our Council Boarrl, and though his term of office ivrrs cut short we can truly say he served his City well.

"It is with regret also. we record the passing of Mr. l-‘rnnk Tced. our City Weiplier. and Mr. Neil lilac- Donald, an vmploixr-e of our Street Department. In the deaths of these faithful servants your City has sus- tained a great loss.

"Through the summer months many distinguished ticrsonaves vis- ited niii" City. notably the Hon. A. N. Kliefnrth. American Consul Gen- eral: Mr. James llrion. New gen- land fliizli Commissionr-r to ban- adn. P. R. \'i|1o=n. Hizli Commis-

‘Finances of City Reviewed By Auditor

to tbs above issues, the Commis- sioners of Water and Sewers is- sued debentures to the amount of $100000.

Refunding debentures to the amount of 813.500. have been au- thorized but. not yet issued. I un- dcrstand that these are to be in- corporated with other reifundlng issues in 1949.

The net debt of the City, that is debentures outstanding, bank overdrafts, accounts payable, etc less sinking fund Investments. cash in hand and at Bank was December 31st... 194'! $1,805,691.08 December 31st, 1948 $1,029,941.43

Increase s 124,251.35

The Ereater part of this increase is due to the bond issue of $100,000. made by the Commissioners oi’ Water and Beavers during the Y9"- The balance is due to in- creased capital expenditure on the City streets.

501151118 accounts are not in- cluded in the above aa they an Silifilwsed to be self liquidating.

Trnafa ‘and Sinking Funds Balance Sheet

Reformatm-y Trust i.“ “an, be“ 11113419494 by the interest on the Post Office Savings Account. No disbursements have been made from this trust and as it appears that. the details of the trust are not available, 1 would again re. commend that this balance be lvlld over to the Children's Aid swlel-y or the local Orphanages.

The income on the O'Connell llfiist fund has been disbursed to the local Orphanage-s.

510K108 fund general account shows a. balance of $496,679.45. WWW!!! from the special audit 1900i! Published in the Ciiv Year Book for the year ended January 15th. 1939. I compute the mini- mum requirements to be $496,150.56. a surplus of $522.90.

The actual earning la again considerably below 4 per cent and present indications are that the 1949 income will be $4 554.50 less than the amount required; Deposit for 1949 comput-

ed as above is 352319904 Add i949lncomedeficit 4,554.50 57.51-40.54

fess Present Surplus 522.89

Deposit required in 1949 to keep the fund to Minimum require- ment $56,817.65

Revenue and Expenditure Account

This shows the actual revenue and expenditure for the year whether collected or not and

whether acf-uallv paid out or not. The year resulted in a deficit of $8,761.31 which after being ("le- diictcrl from i-he previous surplus and bringin: inio account adjust- ments of previous years’ taxes and cancellation of an old cheque leaves a surplus at December 31st. 15-48 of $10,502.55.

During the year the services of cwrtawi permanent employees of the City were utilized on streets capital projects. but no portion of the salaries and wages paid to these employees was capitalized. A transfer of $8.000. from Capitol Account t" Currant Account was maria on December 3151.. 1943 for this purpose but has since been reversed and accordiiiglv does not appear in the statements.

Receipts and Disbursements:

Receipts and Disbursements: These show the actual monies received and paid out by the

Cilv Clerk's Office.

School Board: I have eXamlnPd the Secretary's records and certi- fied h‘s statements.

General: In conclusion I wish to express my appreciation of the co-operiiiiozi given me and m1! staff bv your Worship. the Cihair- man of the Finance Committee. the City Cleric and Staff. the Cltv rgoligitorl, the Citv Engineer and all others with whom 1' have come in contact.

Rcspecifuliv submitted.

BRENICK M. SEARS. Chartered Accountant.

Frnncriue Gay, French Ambassador; Mr. Vaughan. President Canadian National Railways: Mr. Jackson Dodrls. Dominion Commissioner Canadian Boy Scouts. The Naval ships. I-l. M. C. S. Magnificent. H. M. C. S. Swansea. H. lVi. C. S. Hulda. H. M. C. S. Noolkn. U. S. S. Fresno. Division I21. United States Navy, also called at the Port of Char- lottetown and officers and men were the guests at. many social functions held on their behalf.

"I wish to take this opportunity of expressing to the Board‘ of School Trustees. the Commission- ers of Sewers and Water Supply. to Dr. Keeping and Dr. Nordland. our appreciation of their work for the year. These respective reports show that they too have had a year filled with much activity".

"lilay I express to Mr. Fullerton and those under his supervision and

‘to Chief Birtwistle and his Officers

my appreciation for their year's

aioner for South Africa; i-Ion.

I am instructed b.v Mr. W!

and chain, china cabinet. an suite, oil burner kitchen range

baby's crib. 1 high clan

girl's wearing aPPIPEl-

“A AA as. ...a...a. an

l dl .-9-pc. Cbaateifie household eifccta. 1M i1 flgedrcom mm‘ bed’ with new grate: and linings. l Cole-

. t! ' man oil heater (both thlerlvalulélimglrllmmmoda ma". "d “M”, b“, .

pram. mirrors. 110th. fill" ""1 “h” "m!" After Bola of Furniture there will be

work and for the many courteaies

Wiiucrion sans o“

or noosamou: rpnivvruna arm anacrs AT m: AUCTION ROOMS. sparrow aunt. FRIDAY, raaiuiaai" ma. AT 2. my. .

lllsm Faithful u» aell by Public Aucflcn an

id auitc, dining room mblc spring aml maths». kitch-

ilsat Ialll. 2 cbaata of draaverl. l

sold by auction a , of

W. H. DEATON, Auctioneer-

QAAAAALAAAAAAALAAALIVQ‘

Details of the water supply de- velopment at Union, which will be available for use early this year‘. are contained in the report of the Commissioners o! Solvers and Water Supply submitted at last night's annual meeting of the City Council. The Commission comprises Messrs. W..D.. GillLs, chairman, J. L. Curran and H. Roy Bevan.

The report first gives the ex- tensions made during the year as follows: On Victoria Avenue B0 feet of alx inch sewer pipe. On Lapthorne Avenue 92 feet of six inch sewer and 178 feet of 4 inch cast iron vi-ater main. For the new housing development on Alexan- der Drive 805 feet of six inch sewer pipe was laid and 360 feet of four inch and 480 feet of six inch water mains were laid.

One new hydrant was placed on Alexander Drive and Olle new hydrant was placed at‘ the new pumping station at Union. Hydrants replaced were, One on School Street, one at the corner oi’ Great George Street and Fitz- roy Street and one on Douglas Street.

Main gates were placed as fol- lows: one on hydrant on School Street, one on hydrant on Doug- las Street and one on hydrant on Alexander Dr‘vc. Also placed main Hates at corner o! Gerald and Alexander Drive, at the corner cf l-IBDthorne Avenue and Birchwood Street and on the line tn Char- lottetown Hospital.

Ninety-sight new wafer service connections and eighty-one new SEVYEF Connections were made lo our system.

The sum of $78,665.31 was collect- r-d in water rates in 1948 as against 373830.58 collected in 1947.

The net amount turned over to the City in 1948 was $33,167.82 a5 against $27,601.59 turned over in i947.

Total water pumped for the Year 1948 was as follows: Brackley Pumping Station 35l§499cQ 2111s.: Malpeque and Lower Mal- oeque Stations-258.456.600 gals. the total being 610106.500 gallons with the daily iiverage being 1.671.524 gallons.

$100,600 dollars water debentures bearing inteiwst. at 315 per cent Der anrium and for a term of twenty Years were issued and sold to the Royal Securities COTpQi-a. tion at 99.27. This issue was auth- orized in 194'? for the developinrrit of n. new source of water supply and other extensions

Suppl!‘ at Union

With reference to the new sour-cg “a are Pleased to report that the development at. Union is rapidly nearing completion and this source should be available for use early 1n the new year. We reported to 1'01! last- 1'80!‘ that preliminary survey and tests had been ccm- pleted and the necessary lands purchased by the Department. Early in 1948 detailed plans and specifications were drawn up by our Consulting Engineer. Mr. H.\V.. Lea of Montreal and tenders were called,

Contracts werc awarded as fol- lcws: lransife pipe for main de- livery line. Canadian Johns-blous- ville Company: cast iron pipe and fittings for wells. Canada Iron Foundries; pumping machinery. Canadian Allis-Chalmers Limited; laying suction line. drilling and connecting wells, station bulldn: etc.. l\i.l=‘.. Schurinan Company’ Limited, (drilling of wells was subcontract let to Douglas Bros): electrical wiring, Edison Electric; valves and fittings. Crane Bros. Other purchases were made such as. Vacuum pvrnn from the Nash Engineering Company of Canada; transformers from Maritime Elec- tric; chlorinator from Keith Mer- cer, Montreal: v€lllllfl meter from Francis l-fankin a; Campani". Lim- ited, Montreal.

Briefly the setup at Union is as follows. There are ten ‘wells. six inches in diameter drilled at aii average depth cf sixty," feet. locat- ed near the junction pf three streams which are fed l"." “his? sheds totalling approximately 3M0 acres. The ten wells are connect- ed by a twelve inch line to the Station building. The pump l5 centrifugal type and ivoiverd b1," e. 40 horsepower. 5=0 volt ~?"‘t"r rd has a caltacry of (ll? iviliru Ral-

ions Mr ylav‘ Fin-m tl1=‘St"“ri the water will rm- v-vousi a 1 4 i.7‘lCi’1 supply line across country

about 0.600 feet where it is cori- nected to the Bracklei’ mill‘! l"? thence to the reservoir on the Mount Edward Foad.

The report commend; the main

And to my Council I would also offer my Slllm" ‘hanks {or your co-operation. I believe that the lzist year has seen much accomplislicd throuill W!" untiring efforts.

"Soy Goodbye to Buckuche"

-SAYS GRANDMA

Bacleacha is a mise_ that strikes many women in middle li e. But if you could sec Mrs. W. H. of \\ elland. _Ont.. a grandmother well past 60, worlun in her neat little home. day after a)’. cu would really appreciate how much Br. Chase's Kidney-Liver Pills can do to relieve backache!

That's because this time-prover: Dr. Chase remedy for backflha treats two conditions at once-contains special edial ingredient: for both the kid- ney and liver disorders‘ which often cause backache. So don t aufler Wlfll painful joints and backache-my this reliable remedy Brown by overjalf-a- century's use—- r. Chue s kidney- Liver illa. At all drug counters. fl

extended me.

Report Describes New Water Supply At Union

-- contracting company, MI‘. Schur- man arid Co... also the Maritime Electric Co. for its cooperation. and the water works superintend- erit, Mr. 5.0.. Mathescn, ivl-io sup- ervised all work in connection with the Union installation.

Finance Chairman

Continued from page 1

lo consider a business tax such as is in effect in many other cities and we appreciate the kind c0- uperaiion of the ciitcs 0f Saint John and Fredericton in sending over their financial experts w discuss the matter with us. I feel that a business tax should not increase the amount of taxes to be paid by property owners but will bring revenue from a class of non-property holders ‘who are receiving the benefit of all civic services without paying their share of the cost and thus bring about a more equitable system of taxa- tion.

"Our City Assessor has been en- gaged during the year in the pre- liminary work necessary to put into effect a system of assess- inent whereby it. will be possible to arrive at a. uniform basis of assessment for all property. both commercial and residential. (The basis for commercial being dif- ferent. than that for residential». we feel sure our citizens will wel- ccme the establishment of a. sys- iem of assessing whereby all pro- perty is valued according to a set. standard of valuation.

Revenue and Expenditure

Your committee reports a de- ficit of $8,761.31 on the year's operations but this can be ac- counted for by the heavy cost of snow removal last winter and bv the large payment oi’ 5643-15518 made to the sinking fund durinr the year as against the amount of $44,423.16 in 1947. The ve- quirements for the sinkinz fund had been based by the external auditors on payments on 20 year bonds but it was brought to their attention that the life of some of these bonds was 1n i-earr. and 15 vars and in consequence the sinking fund was not up to the miiiimivn requirement Th a amount required in 1949 will be 350517.65.

‘Our sinking fund investments are computed a: earning 4”- per annum but their actual earning. is a littiepver 3% and the differ- ence between what thev are corn- oute-rl at and ivhat thrv actuallv earn is included in the deucs" required to keen the sinking. funrl up to the reouired level. I ouile arrce with the reromrncnrl-ition of the Cilv Clark that. it. would h= good business to exchange or rel‘. our 3*‘.- boiirls and purchase .1 high" interest bearing lJOIIfl uhrii possible

Net Debi.

"fKlflhP. the year the net debt of the citv was increased bv $124.- il5l.3li._ ‘This is l-argely accounted for by a bond issue of $100000

made bi" the Commissioners of Sewer and Water Supplv. The balance results from increased capital expenditures on our streets. ‘It will be known tint very littlc was‘ spent on our

streets duriuq the war years E110 the. street Committee has intro- duced a vei-v sound olan of street. improvement- to put our streets buck in shape again. However ‘he net debt of the viii." has been decreased frcrn 52.701915 in 19?“ to *i\1'>0,942.43 on December 31st. 194B.

Tax Collections

"The Accoun-‘s will show coi- lcctlmi of 1h" Real and Personal Estate and Poll faxes is quite- satlsfactnrv. The per-couture act- uallv collected is as follcwsn-

"Real. Estate-M’? of the cur- rent- levv.

“Personal——B8"» of ilic current leirv.

"Poll Taxes ~ 69.4% of the cur- rent. levy.

"Tlv- amount collected for Poll