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Allegheny, Dec. 31, 1882.


To the Honorable the Select and Common Councils of the

City of Allegheny : GENTLEMEN :-In compliance with Section Sixth of the Ordinance prescribing the duties of the office, I have the honor herewith to present to you the EIGHTEENTH ANNUAL REPORT of the City Comptroller, for the year 1882, exhibiting in detail the receipts and expenditures of the City of Allegheny, the sources from which the revenues were derived, and in what manner they were disbursed, together with a general statement showing the financial condition of the City.


The amount of money in the Treasury January 1st, 1882, as stated in Comptroller's Report for 1881, was..

$ 7,605 88 The total receipts of the Treasury from all sources during the year were..

680,911 30

$688,517 18 650,562 83

The disbursements for the same period were.



The entire bonded debt of the city, January 1st, 1882, was. $1,509,500 00 Amount renewed during the year,...

20,000 00

Amount retired during the year,

$1,529,500 00

60,000 00

Total bonded debt, December 31st, 1882,.

$1,469,500 00

Means on hand for paying this indebtedness, being the resources of the various sinking funds:

Cash in Water Bond sinking fund,..
Cash in Henderson Street sinking fund,
Cash in Sewer Bond sinking fund,...
Cash in Gold Water Bond sinking fund,.
Cash in City Property Bond sinking fund,
Cash in Troy Hill Bond sinking fund,. .
Cash in Refunding Sewer Renewal Bond sinking fund,
Cash in general sinking fund,...
Cash in Interest fund, ...

$10,000 00 30,040 00 19,065 10 43,005 87

9,058 12 70,662 57 2,000 00 9,673 42 9,462 50

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The indebtedness as stated above is classified as follows, viz. : Municipal bonds,

$ 44,000 00 Renewal bonds, ....

117,000 00 Wharf Improvement bonds,

28,000 00 Water Main Extension bonds,

593,000 00 City Property bonds,

30,000 00 Sewerage bonds,..

317,500 00 Refunding Sewer bonds,

108,000 00 Troy Hill bonds,...

70,000 00 Henderson Street bonds, .

37,000 00 McClure Avenue bonds,

52,000 00 Charles Street bonds, .

73,000 00

$1,469,500 00 Of the above amount the following were issued during the year 1882:


Renewal Sewer bonds, 4 per cent...

$20,000 00

BONDS RETIRED DURING THE YEAR. Sewer bonds, 7 per cent., due July 1st, 1882,...

$20,000 00 City Park bonds, 7 per cent., due October 1st, 1882,.

20,000 00 Refunding Sewer bonds, 7 per cent., due November 1st, 1882,.. 20,000 00

$60,000 00

More than two-thirds of the indebtedness of the City, viz., $1,018,500.00, was created for the purpose of Water Supply and for Drainage.


The steady decrease of the indebtedness of the City, which has been going on for the past four years, has continued in the year just closed, and further loans could have been liquidated, had those fallen due for which a Sinking Fund had been provided. The funds for this purpose, however, have

been increasing throughout the year, and are invested on interest, and will be available as each subsequent loan matures. As their payment cannot be anticipated, without purchasing at a premium, it is considered the better policy to invest the funds until they are wanted for payment of bonds as they become due. For the above reason the reduction of the debt for this year has been but $40,000.00, twenty thousand of Refunding Seven percent. Sewer Bonds, and the same amount of Seven per cent. Park Bonds, making a reduction in the debt of the City in the last five years amounting to $324,500.00


The last of these bonds have been paid and cancelled, and the Parks are free from debt. The total amount of bonds issued by the City for the Park improvement was $229,000.00.


During the year 1883, the following bonds will mature, viz.: Eighty thousand Seven per cent. Sewer Bonds, twenty thousand Seven per cent. Refunding Sewer Bonds, ten thousand Four-and-a-half per cent. Troy Hill Improvement Bonds, thirteen thousand Four-and-a-half per cent. McClure Avenue Renewal Bonds, nineteen thousand Four-and-a-half per cent. Charles Street Renewal Bonds, making a total of $142,000.00.

The Sinking Fund Commission will be prepared to liquidate $30,000.00 of the above Sewer Bonds, and $10,000.00 Troy Hill Bonds; the remainder can be renewed at a lower rate of interest, not exceeding, perhaps, four per cent. It will be remembered that a fund is provided for the liquidation of each particular class of bonds of late issue, kept separate and distinct for that purpose, and cannot be used for payment of any class of bonds other than that for which it is intended, and for this reason some loans, as they mature, must be renewed unless the money in that particular fund will meet their payment, or Councils by special appropriation provide for them.


The Commission during the past year have paid and cancelled $20,000.00 Seven per cent. Refunding Sewer Bonds, and invested $20,000.00 in Four per cent. Renewal Sewer Bonds, being those re-issued by the City.

They have earned for the City, through their investment of the funds in their charge, the sum of $7,067.50 in interest, and since the creation of the Commission, October 1, 1880, the total amount of interest to their credit is $9,564.62.

They hold at this time loans of the City, amounting to $174,500.00, of various issues at par; cash on hand, $28,467.58, making a total of $202,967.58. As shown above, they will provide for $40,000.00 of indebtedness, maturing in the year 1883, being $30,000.00 Renewal Sewer Bonds, and $10,000.00 Troy Hill Bonds.

In closing my Eleventh Annual Report of the work of this office, I desire to express my appreciation of the uniform courtesy shown me in the discharge of my official duties, and to congratulate you on the harmony existing in all departments of the City Government, and to call your attention to the accompanying statements, showing in detail the receipts and expenditures of the City during the year just closed, and also to the very able and full reports of the various officers of the City which have been submitted for your consideration.

Respectfully submitted,

City Comptroller.

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