New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1853-06-11
[Gom municRtrd,l
New Orleans Draining Company.

The New0rleans Draining Company is truly public
institution, and body Of private SPECTATORS incor
porated for profit Its stock amounted originally to
S4530oo of which S35000o held by the city $4,000 by
the State and only $4,000 by private subscribers divided
among forty stockholders No dividend has ever been
ceved by the stockholders According to the amended
charter Of 1889 the company authorized drain the
rear of the city by sections and from the pro-
pretors Of the drained land than The amount ac-
tualy spent by IT, (of which strict account has been
kept with interest
The Draining Company has lately filed in the Third
District Court ableau of assessment to which oppos-
tons have been made and it is for the court to decide
whether the amount claimed has been actually expended
iudicously employed md properly assessed
The great benefit Of which the operations Of the com.
pany have been to the public is well known Such how
is the selfsaercing and public spirited character
Of its charter that the company get back the
entire principal of its capital still ess any profit But
the recovery OF portion Of its capital s now re-
sisted by ilegtimate
Messrs, + II. Dure and ?. G Wright the agents Of
the New Orleans Navigation Company, have bought a
large extent OF property in the drained district formerly
belonging to the heirs Of Chalon to Nine de Pom
falha. They bought it with the express condition in
serted in the acts Of sale that they were to pay to 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 harangued them raised subscriptions the
amount Of which will be received by them for professional
services to be rendered to other property holders and
last they have procured petition be laid before the
Council praying for relief against the exaction of the
Draining Company,
If these meetings and petitions could influence or arrest
the decision Of the Court before which this matter is
pending, procure the interference Of the Council the
result would be:
l Messrs, Dure and Wright would have 50 much less
to pay for the property they bought Their purchases
amount to between $4,000 to 100000 besides which
they to pay the Draining Company.
. II the in favor Of the Draining Company
could be RENTED it would just that the orig
nal and vendors of the property should have the
benefit than the purchasers who expressly bound them
selves to pay it.
3 As seyenn inths of the TO be recovered by
the Draining Company will 60 to the oity-whch is the
holder Of nnhs of the stockaud will have to
in 1850, S350o00 for its bonds issued in 1885 in favor OF
the Draining Companythe City Council might perhaps
direct the Draining Company abandon its esim upon
the property the extent of seveuthninths But then
the question would arise, whether the citizens at large
should be made to pay for the improvement of certain in
ddua property Let be remembered that the proper
y holders in the drained district have only to pay for the
first cost and the Draining Works kept up by
the city without any special tax upon the drained
1, If the attempts of Messrs Durell and Wright and
of those who act with them should prove successful
incorporated Company would undertake the draining of
the remaining swamps in the of the city without the
loss Of its capital and the act of The Legislature of the
30th April last, published to-day in the Courier and
entitled An act TO Incorporate the New Orleans and
Jefferson Draining Company would be a dead letter
The Company never would go into operation.
And the city might then be under the imperious
cessy Of accepting proposals similar to those made to
the Council by hessrs Dure and Wright on the LIST of
last March by which these gentlemen offered under
take the draining of tract of land the pres
en drained district at certain price per square yard
etc etc aud to keep up the draining system during
years for an annual compensation of $4,000
Jes PuHlIe INTEREST.