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TAX IN RALEIGH
Reduction in Salaries Seems Most Probable: More Doubt About Changed Tax Rate
INJUNCTION MAY BE LIFTED BY CONSENT
Zimmerman, Plaintiff in Case, Says He Will Consent To Dissolution If City Can Arrange For Loans, But Otherwise Will Insist That Property Be Not Advertised
Budget for the city of Raleigh the beginning of the fiscal year July seem to be regarded virtual certainty, with ten per cent cut in all city salaries garded most likely. In addition there more than possibility of an increase of five cents in the tax rate, which last year was reduced to At suggestion of all the bankRaleigh, agreed yesterday taht president the Wake County Taxpayers' Association, and associates would effort upon reduction the city budget for the fiscal year. believe that satisfactory reduetions the budget will be that that done the banks Raleigh will supply the needs the city this time they have always the stated State Treasurer John Stedman. taken part in the negotiations between the bankers. city's financial affairs been greatly complicated by the fact that $150,000 tied closed and the further fact that $100,000 more was the defalcation former Tax Collector Hugh Lee. Taylor, head liquidating division of the State Banking Department said prospect dend this from the Raleigh year Banking and Trust Company the Bank, closed which the unsecured deposits. The city already borrowed $45,000 recovery bond the defaulting collec-
Recent complications have been the order Harris, which delinquent owners that begin May and which has reduced May taxes fraction what was inticipated. city has maturities of $69,000 the principal and long bonds June which must be met. will not the full amount but regarded essential that major portion the $50,000 tax notes advertised by the Local Government Commission be placed. The sale these notes has been advertised for May 31, but Zimmerman, plaintiff the injuneyesterday indicated that will by Satur day the is to be secured before will consent dissolution the retraining order. have been agree dissolution the temporary straining order, which returnable Saturday, said Mr. have agreed consent dissolution the order the city secure the loans gotiating, not want stand city's credit. On way hand, public sentiment against any advertisement strongly for delinquent taxes property this time and unless the loans secured, shall fight the case out demand that restraining be continued least until order Charles M. Johnson, director of local government, yesterday expressthe opinion that the city would its notes, thought that economies in city government would be necessary. costs the city gov Operating which last amounted ernment, $550,000, already passed $500,000 mark this year the the total will expected last due slightly excess year, inclusion and other for storm sewers bonds would have been sold which under ordinary that the budget will expected $500,000 held and in order to for next year budget being fully the suggestions that there have the tax reduction fully maintained the tax be increased that to the tax rate problematical but regarded assured. budget Public Safety Carl sioner last year contended liamson, for per cent. successfully yesterday would said his when renew budget within the begins the days. George Iseley was terday situation and regard hoped that satisfactory arrangements the notes can pleted today.
Into Commission. May National New York, ordered into Steel Corporation mission today four vessels carrying fleet. Great Lakes ore Three vessels into from Buffalo and They the plants Buffalo Wierton,
