New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1853-06-15
&c uuicRted.I
f{ew Orleans Draining Company.

The NewOrcans Draining Company is truly publ,
institutions and not body Of private spectators nror
porated for profit Its stock amounted originally tC
S+53OO0 Of which $3.50 900 are held by the city
the state and only $50 900 by private subscribers divided
among forty stockholders No dividend has ever
ccyed by the stockholders According to the amended
charter Of 1899 the company is authorized to drain tn
Of the city by sections ami to recover from the pro.
pretors Of the drained land than the ac-
tually spent by It, (of which strict account bos been
kept with interest
The DrIiniug Company has lately filed in the Third
District Court tabeau 0. assessment which opposi-
tons huve been made and it il for the to decide
whether the amount claimed has been actually expended
iudiciously employed and 1per'y assessed
The great ben tit Of which the operations Of the com
pany have been to the public is well known Such how
ever IL the seSsaercng and public spirited character
Of its charter that the company get back the
entire principal Of its capital still less any profit But
even the recovery Of portion Of its capital Is now re-
sisted by legitimatc means
NJ ssrs. l. H. Durtll and p O. Wright the agents Of
the New Orleans Nayis cation Company, have bought
large extent of property in the drained district formerly
belonging to the heirs Of Chalon and to Nine de Pom
talba They bought it with the express condition in
serted in the acts Of sale that they to pay to the
Draining Company the amount assessed on their proper
ty by competent Court They wish to be relieved
Of this condition For this purpose they have called pub
lie meengs harangued them, raised subscriptions the
amount Of which will be received by them professional
services to be rendered to other property holders and
last they have procured petition be laid before the
Council praying for relief against tho exaction Of the
Draining Company.
II these meetings and petitions could influence or arrest
the decision Of the Court before which this matter is now
pending procure the interference Of the Council the
result would be
l. Messrs. Dure and Wright would have so much less
to pay for the property they bought Their purchases
amount to between $4,000 to 100000 besides which
they were to pay the Draining Company.
II the in of the Draining Company
could be remtted It would just that the origi
nal owners and vendors Of the property should have the
benefit than the purchasers who expressly bound them
selves topay it.
As scven-nintbs Of the amount to be recovered by
the Draining Company will go to the city-which is the
holder Of nnhs of the sock-and will have to nav
in 1850 $3.50 GOO for its bons issued in 1885
The Draining Compsnythe city Council might perhaps,
drcst the Draining Company to abandon its claim upon
the property to the extent Of seventh hs But then
the question would arise whether the citizens large
should be made to pay the improvement Of certain in
ddua property Let it be remembered that the proper
ty holders in the drained district have only 10 pay the
first and the Drauing Works to be kept up by
The city without any special upon the drained lands
!. If tic attempts of Ncssrs Durel and Wright and
Of THOSE VINO act WITH them should prove successful no
incorporated Company would undertake the draining of
the remaining sHamps in The Of the city without the
loss Of its capital and the act Of the Legislature of the
seth April last Published to-d7y in the Courier, and
entitled An act 10 Incorporate the New Orleans and
Jefferson Draining Company g would be dead letter
The Company never would go into operation,
D. And the city might then be under the impeous ne
cessity Of accepting proposals similar to those made
tho Council by hessrs Dure and Wright, the LIST OF
last March by which these gentlemen offered to under
take the draining Of tract Of land in the Of the pres
ent drained district at certain price per square yard
etc etc and TO keep MP the draining system during
twenty-five years ;sE annual compensation Of $4,000
issA sesLIs rstsstsf,