Only Two U.S. Municipalities With Surplus
THREE THOUSAND IN DEFAULT
United Press Association—By Electric Telegraph—Copyright. VANCOUVER, Sept. 23.
It was stated at a conference of Mayors in Chicago that only two municipalities in the United States have a surplus—San Francisco and Rochester (Minnesota). Three thousand are in default, tho amount totalling two billion dollars.
Tho remedy is considered to be some sort of Municipal Bankruptcy Act, cities and bondholders being given the right to compose the debts. Tho great majority are sound, but need temporary help.
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Bibliographic details
Manawatu Times, Volume LIV, Issue 7271, 26 September 1933, Page 7
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86Only Two U.S. Municipalities With Surplus Manawatu Times, Volume LIV, Issue 7271, 26 September 1933, Page 7
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