Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1858-06-10

sales Books, Receiving Books, Sc -
- For late City News, see third page
For Market Reports and Marine News, see fourth
page.
CRY CoUNcL-The absentees from the meet.
ing Of Tuesday evening were Messrs. CRAWFORD,
MoLANE, MUELLER and SWEET. large amount
of business was transacted, and much of it impor.
tant
Communication was received from the City At
torney, stating that D. Pollock has offered 10
compromise with the city in the disputed matter Of
the Public Park on the West Side, by changing
the shape Of the land given by him to the city
Instead Of 1872 feet squsre, TO be 40 feet on Lorain
street and 2G4 feet Pearl street. and no building
to be erected within ten feet Of the west line and
if the Owners Of the land on the east side would
give ten feet, the owners on the west line would
also give ten feet absolutely" The subject was
referred to the Committee on Parks aud Public
Grounds
The Commissioners on the part Of the city's sub
scription 10 the stock Of the C. d p R. r. reported
in substance-Tbat no important business has been
transacted bythem except to provide for the inter
est due and to become due on the bonds issued in
payment of the stock held by the city. The inter-
est aecruing on these bOndsin 1857 was not pad
The Commissioners regret that the credit of the
city should thas have been impaired, but state
meHt Of the facts, they believe, viii relieve them Of
any blame in the premises. In the Spring ofls57
the Commissioners applied TO the officers Of the
C. & P. R. r. to know whether they could expect
to secure any dividends upon the ctys stock during
the coming year. They were positively assured
by the President that prior to November first, 1857
(when the interest would become duel that cash
dividend of not less than four per cent. would be
declared and paid by the Company. The Com
missioners relying upon this positive assurance,
and confident that with their other resources they
would be able to meet demands against them, did
not deem it expedient to levy tax for that year
The representations of the Company with regard
TO the dividend 10 be declared continued to be re-
peated during tie season, and the Commissioners
did not become aware that they should receive no
dividend until it was too late to provide for the in
terest by any means in their power. The Con-
missioners also have contract with the Company,
which provides that in case the former have no
funds to meet the annual interest, the Company is
bound TO pay and to give The city credit upon the
came until the necessary amount can be raised by
taxation or other means. The Company has here.
tofore faithfully kept this agreement but on this
occasion, without even giving notice of their ina
bihty 10 do SO, the Company failed TO pay the in
terest and the coupons went TO protest, and they
still remain unpaid. The Commissioners could
take no steps 10 pay them, as the bonds received
by them for former dividends were unsaleable, nor
can the stock be sold except TO redeem the bonds
The Commissioners have therefore been compelled
to wait the levy Of taxes for 1855 before they could
adopt any measures for the payment of the inter
est They have felt it their duty to provide by tax
aliOn as vel for the interest becoming due Nov.
lst, 1858, as for that already due. They have
therefore notified the County Auditor to levy tax
Of SIS, coupon the property within the city tax
able for State and County purposes, which t-cy
believe viii be amply sufi,ent to pay both years
interest
This report, presented to the Council at its meet
ing of25lh OF May, was referred to the Committee
on Finance, and by them reported upon in sub
stance as follows That the Commissioners have
the power to levy tax 10 pay the interest which
may accrue on the bonds, and also to pay the bonds
as they mature, aud that the Commissioners in
levying tax are actingin accordance with their
legal Obligations TO the holders, and the credit
and good faith Of the city. The bonds Of the city
issued on account Of its subscription to the C. &
P Il. r, amounting TO one bundie ed thousand dol
lars, mature in November, 1859, and unless some
means be adopted between this tine andthe mOnih
Of June next it viii be necessary to include in the
levy Of that year an amount sufficient TO meet that
large Indebtedness. Such a tax, the Committee
believe would be disastrous 10 the city east Of the
RIVER, which, by the terms Of annexation between
Ohio City and Cleveland is alone held liable for its
entire railroad subscription. The Committee be-
Heve that in providing for the redemption Of the
bonds Of the city on account Of the different rail
road subscriptions, a common account should be
made ofthe different roads, and that the fortunate
subscriptions should, so far as thoy may have any
assets not necessary for the redemption Of their
own bonds, contribute to the redemption and benefit
Of the less fortunate snd that no tarafiOH should
beresoed to until the total interest of the city in
their railroad stocks shall fail to meet its liabilities
The Committee accompanied their report by res
oution calling q meeting consisting Of the Commis
sioners of the stock of the c. C& c. RR Co., the
C.P& ARR Co, and the C. & p R.R Co.,
the President Of the Council, the Finance Commit
tee, aud The Mayor, at the Office of the latter for
the purpose Of considering the interests of the city
in its railroad subscriptions. This resolution was
unanimously adopted
A resolution was introduced directing the City
Council to issue cab carriage, and drsy licenses at
L.
is as follows That the Clerk is authorized to is
sue cab, carriage and dray licenses at the following
rates-FOr each carriage, cab, or Omnibus license
81 so for each express wagon and dray license
81. We learn that the number Of dray and car
riage licenses issued from June 1857, TO June
ls55, were but twenty-five in number, and the rev
enue aeerung to the city from this source was only
about $50. The number Of vehicles of this de.
seriptOn in the city ranges between six hundred
and eight hundred, and the yearly revenue should
amount to at least one thousand dollars.
remonstrance was received signed by E. S
Willard, r. L. Willard, and N. Howe, against the
proposed improvement Of Wilson Avenue, where
| by they aTeg large amount of water will b
thrown upon hem through what is usually known
as Curtiss Run, said water being diverted from it
natural course and thus thrown upOn them TO thei
great damage. The subject to which this refer
was embodied in an ordinance passed at the las
meeting Of the Council providing for the construc
ton Of sewer on the westerly side of Wilson
Avenue from point 30 feet sOutherly from The
center line Of Euclid street through the ridge at
Wilson Avenue 10 the Curtiss Run $50 cslled) fol
The purpose OF efecting the drainage Of portion
OfEucHd street, of Wilson Avenue, and the LOT
and lands situated between Garden and Euclid
street, so as to condnct the water safely to Lake
Erie Six hundred dollars were by resolution ap
rnrr,rriafea mt Of The general mad fnnh inward III