True American. [volume] (New Orleans [La.]) 1835-18??, 1837-03-30
CoUNCIL-sEcoND MUNICIPALITY

TUESDAY, March %, 1887
The Council met pursuant to adjournment.
Present, the Hon. Recorder, and all the mem
bers. "
he weekly statement of the Treasurer w,,
submitted, showing the receipts of the past week
TO have amounted to Sl,98G,O7; the expenditure.
10 $I2,4837i, and the balance on hand to be
S37,243, SO. " ~
communication from Mr.. Deacon, ir. was read
ana referred TO the Committee on Claims
ono from Luke Hill was laid upon the tuble.
"A communication from committee of the adj.
min st'a'or, oftle charity hospital showing the aes
tute situation OF that institution, and asking far
mittee. "''' 0on'-
A statement of the affairs Ladies', Chari,alle
Association was read and laid upon the table.
A petition OF the inhabitants beyond ST. Peter
street, praying that section of the Municipality to
he Incorporated, was referred to Committce nm
Streets and Landings.
Mr. reters, Chairman of the Finance Commit
Tee, offered the following report, accompanied
with The snbJoined resolution, which the rules be-
ing dispensed with, was taken up and a;,upted
The Finance Committee report that they have ex
aminY the'propcrty offered by Mr.. K. Il McNair as
secu Ap the NJ Municipality for bonds he h1s an.
nlaf fnderl The ordinance of 9Th Sepenber.
1be1 ihuflzfhg an Issue of bonds for the encour.
agenieut Of erecting cotton presses and ,nhorca
warehouses; within this Municipality. The com
mittee recommend that bonds TO the amoun, of
Soo,ooV be issaed to the applicant, as they con.
s'der the property worth more than double this
sum. '
The square of ground in question measures $40
feet on Annuucaion street, and 1862 feet on III.
chard sire I, and is improved by extensive co,I,n
presses and warehouses.
"A mortgage to secure unun Bank stock, to the
amount OF l6O shares is OH this property. but in
'he opinion OF The undersigned, this should pre-
sent no obstacle 10 the issue Of the bonds
SAM'LJ J. PETERS, Chm.
IliOS. u. M Elk
Resolved, That the Mayor be, and he il ber.r
author zed 10 issue IN favor Of Robt II. McNair "a
bond OF this Municipality OF one thousand dollars
each, so soor as said L. II. MrNuir shou H.
complied with al! the IT QUESTIONS of nm orJ;,nn.e
entitled " an ordinance IL encourage The erer,;o
~ commod1nus cotton presses and tobacco w,ro
houses IN suitable positions within the lr,;,s of
Inc Second Homeopathy" adopted 9th Septem.
ner, 1850 ana rchewcd by resolution adopted
2ist February, 1887; it heing understood thai No
mortgage exists on the properly Offered by said r
IL. McNai-, on Administration and Richard s,ros,s
ihan the one in favor of the union Bank of Louis
lam, 10 secure GO shares stock OF said nst;,u,;n
J. he same chairman intrDduced the fnllowinr
which was read, ordered TO be printed. and n,a1,''
the order OF the day for the next meeting
THE NEW ORLEANS AND NASHVILLE r. ,1Ipo,n
The Finance Committee, To wbom
the mt moral oil the New Orleans and Nas,,;ti"
Rail Road, beg leave 10 RI, ont that ther h ','o
Sivtn 10 The important sulleei entrusted IN ~;
charge all the attention and reflection ,hat ,Ln;,
limited time would permit, aad are constrained ~
report p"iaf'raoiy 10 the proposition OF SAID com
pnny.
The memorial proposes that this Nnnicin,r;,,.
shall become stakeholder in said comnanv =,
par 10 the extent OF 5000 shares-amoun, Iafl ono
dollars-on eenti'ion that the company Shall
agree l,y majority OF tho Stockholders to insure
a dividend out efMe prot Of Tic coauGnn. rs DO.
Shared .ffom lime to fnaf, aittr years. 81 pey
cent per annum. r.
The stock 10 lie received by the Municipality.
when 5O,0pc shall have been paid by The srnck' !
hsld,IF, 70 addition Ia The nl,cay paid by
'sI". me cost OF said STOCK, FAY 5o0,000 ,nn,s,
!" be paid as follows: 10000 nor m1n,h in rnsh
darng i've months from he date of the tran sfcr
ihr bonds Of thr Municipality fur S2o0,GOO dr,ars
10 be lSsuSd alter six months from The tine Of I,
agreeing 20 become Stockholders; and tho remain
ing $50 600 donfs in bonds ID be issnd SO $, N
es lheraA foad IS in operation 40 fa-as tho Pine