New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1853-06-09
lC . m M n 1 a g
New Orleans Drai ming Company.

The NewOrleans Draining Company is truly public
nstitut and body Of private spectators ucuI-
porated for profit Its stock amounted originally to
S453 600 Of which $3.50 ooo held city $4,000 by
the sate and only $4,000 by private subscribers
among forty stockholders No dividend has ever been re-
ceved by the stockholders According 10 the amended
chatter Of 1889 the company is authorized to drain the
of the city by sections and recover from the pro-
pretors of the drained land than the amount
tualy spent by it. (of which account has been
kept with interest.
The Draining Company has lately fled in the Third
District Court tabesu of assessment to which oppos
tons have been made and it is for the court to decide
whether the amount claimed has actually expended
iudiciously employed aud pr perry assessed
The great benefit Of which the operations of the COM
pany have been to the public, is well known Such how
is the selfsacrcng and public spirited character
Of ts charter that the company can get back the
entire principal of capital still less any proht But
even the recovery of portion Of its capital is now re-
sisted by Legitimate means
Messrs h II Durel and p. c. Wright the agents of
the New Orleans Navigation COMPANY have bought
large extent of property in the drained district formerly
longing to the heirs Of Chalon, and to Mime de Pom
tsIba They bought it with the express condition in
serted in the acts Of sale that they were to paw 10 the
Draining Company the amount their proper
ty by competent Court They wish to be relieved
of this condition For this purpose they have called pub
lie meetings, hsrangued them raised subscriptions the
amount If which will be received by them for professional
services to be rendered to other property holders and at
last they have procured petition be laid before the
Council praying for relief against the sxaction of tbs
Draining Company.
Ii these meetings and petitions influence or arrest
the decision OF the Court before which this
pending or procure the interference of the Council the
result would be
l Messrs Durell and Wright would have so much less
to pay for the property they bought Their purchases
amount to between $4,000 s2OOOOO besides which
they were to pay the Draining Company
II the assessment in favor Of the Draining Company
could be remited it would more lust that the orig
nal owners and vendors of the property should have The
benefit than the purchasers who expressly bound them
selves to pay it.
As seyen-ninths Of the amount to be recovered by
the Draining Company will go the city-whch is tn.
holder Of seyennnths Of the stock-and will have to nav
in 1856 S35OOO0 its bonds issued in 1875 in favor OF
The Draining Company-the City Council might perhaps
drest the Draining Company abandon its claim upon
the property to the extent Of seventh But tn,
the question would arise whether the citizens at ar
Should be made to pay tor the Improvement of certain in
dauSl property Let 1t be remembered that the proper
y holders in the drained district have only to pay for the
nst cost aud the Draining Works be kept up b,
the city without any special upon the drained lands
If the attempts OF Messrs Dureu and Wright ana
of those who act with them should prove suee-ssfu no
Incorporated Company would undertake the draining Of
the remaining in the of tn. city without th.
loss of Its capital and the act of the Legislature of thu
Soth April last published to-day in the Courier anu
entitled An act to Incorporate the New Orleans anu
Jefferson Draining Company would be dead letter
The Company never would go into operation
And the city might then be under the imperous ne.
oessy Of accepting proposals similar those uadt to
the Council by Msssrs Dure Wright on the lst OF
last March by which these gentlemen If, red TO under
'ke the draining u tract Of land OF the pres
cut drained district at certain price per ,quare yard
etc, etc and to Keep up the draining system during
twenty-five Year, for annual compensation $4,000
!esos PVBLIc IslLkEyI