Daily American organ., 1856-03-29

IN
pal story to be carried up TO that point In accord
ance with the planss and the completion OF the
ground plan entire, covered by the portions above
mentioned
In arriving atthis conclusion the COMMITTEES have
had carrful examinations made of the number OF
persons attending this market during the months
Of September and October last and lind that
the ground plan as laid down will be amply sufi-
cenI for the present and for several years come
and be susceptible Of increase TO extent sum-
cien for at least thrice present population, at
an expenditure for such increase of bat very
small amount. The committee have caused TO be
prepared separate estimates for the building, as
follows: EA,
/. For the entire building, according
to plans and estimates .ssel, 900
3. For the completion of the front
building and the Seventh and
Ninth street wings 100000
2. For the completion Of the front
building and the erection Of the
Seventh and Ninth street wings
to the window-sls of the second
story 100000.
The above estimate No. 8 is the one referred to
in the above remarks, and which the committee
propose to adopt. II may be proper to state, in
this connection, that there is nothing to prevent
the Corporation at any time from continuing the
building TO completion, according TO the original
plan, whenever they may deem il proper but the
committee think II highly advisable to 60 no fur
ther at this time than they have proposed beicv-
ing that with the erection Of so much of the prem
ises as 10 proposed, with the arrangement of the
stalls and stands as exhibited on the ground plan,
their ample size for the purposes for which they
are designed, and the ample width Of the main
ai4les and passages, our people will be furnished
with as convenient comfortable, and spacious mar
ket accommodations can be found in any city In
our Union, perhaps in the world. In yerifcation
OF this statement the committee invite careful
examination OF the diagram of the ground plan
herewith submitted, s.1at \
The best and most available mode of providing
the ways and means for this purpose has been a
source of much consideration and anxiety to the
committee, and they have felt no little embarrass-
ment in arriving at conclusion upon the subject
They have availed themselves of the counsel and
advice OF many Of the best business men Of the
city In order TO accomplish that object and they
ieel grathed to state that the feasibility and prac
ticability OF the plan upon which the committee
have concluded to provide the ways and means, as
Well as the provision for its speedy liquidation,
does not admit ofa reasonable doubt; and in every
viex In which II presents itself (ndependent of the
necessity for the construction of new building)
will prove to be highly advantageous financial
operation. .'S i1sf4
The committee therefore recommend that the
committee representing the interests of the CITY
before Congress be instructed to ask the power to
issue stock Of the Corporation to an amount not
exceeding S25O,OO0 for this special purpose, at a
rate OF interest not exceeding six per cent inter
est payable quarterly, and redeemable in not less
than twenty years. and requiring the Corporation
TO set apart the sales, leases. rents &C., of said
premises Tor the liquidation of said stock and the
payment OF the accruing interest thereon or. in
lieu thereof, the redemption of an equal amount
out OF said proceeds of the present stock of the
Corporation; the provision to grant the power to
contain the requirement to redeem the stock from
the market fund fg3F
II is believed that by this arrangement the twen-
" years stock will command apremium nearly If
not quite equal to its present rate--from to 2
per cent,-especialy with the accompanying pro-
vision to retire at an early day an equal amount Of
the present stock, which the Corporation has the
privilege to do at par. ~
In reference to the means for the speedy re-
dempton OF an equivalent for this stock, the com
mittec have eaid that they entertain the opinion
that the building can be erected and paid for with
in reasonable time without the aid of the reye-
nue. OF the Corporation" In arriving at this con-
cluaion the committee have made inquiry as to the
prices OF market stalls and stands In the Northern
mrkets, well as their annual rent, and have also
had in view the prices at which stands have chang.
Ell hands In those markets, as well as in our own
and are fully satisfied that proper and fair price
for the stalls and stands, with reasonable annual
rental, will produce the means for the speedy re-
demption OF the stock or its equivalent; and they
are gratided to say that the gentlemen heretofore
alluded to as having favored the committee with n
conference have no doubt of the result of this por-
ton Of tho operation also. When the prices Of
market accommodations in the markets Of Boston.
New York, and Baltimore are taken into consde
ration, and the prices at which they are held above
their original cost for the right of possession, and
the prices at which stands and stalls have changed
han in nm aorGn Il
prices paid for market accommodations by our own
dealers, which not only includes the rent but the
license to do business, it viii at once be perceived
that the revenues from the present market il
scarcely tithe Of what should be, and it exceeds
but slightly the annual cost of the Corporation.
This is manifestly unjust, and should no longer
be suffered to exist Thc committee do not con-
ccive it to be the duty Of the community to furnish
market accommodations gratuitousy, or without
fair remuneration. The proper owners of the pro-
perty, the people of Washington, should receive
reasonable equivalent for their use and the busi-
ness transacted therein should bear an eonal taxa
ton with that imposed on dealers in other COM
modities. As well might the storekeeper REQUIRE
the Corporation to furnish him accommodations TO
transact his business because he has license. az
any other portion of the community. Let taxa-
ton be placed equally on all, and a fair price be
paid for the accommodations furnished, and rev.
enue will be produced equivalent to any reasonable
outlay. 4
The committee, in conclusion, respectfully state,
that they have derived much inio-rpaton upon this
subject by the careful examination they have given
it. and they have no hesitation in recommending
that immediate steps be taken to consummate go
desirable an object Respectfully,
JOHN T. TowERs, Mayor
JoSATHAN T. WALKER,
On part Board of Common Council.
JOHN p. PEpPER,
" On part Board of Aldermen.
Mr.. Atlee offered the following reeolution. the