The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-04-02
PROCEEDINGS OF THE CITY COUNCIL.

PROCEEDINGS OF THE CITY COUNCIL.
REGULAR SESSION.
THURSDAY, April l, 1858.
FIRST BRANCH.-Branch met. Present, John 7.
Ford, ESQ.,, president and all the members.
Mr.. Addison presented petition from a number
of citizens of the vicinity for the opening of thirty
foot street through lot bounded by West, Light
and Ostend streets. Referred to the Committee on
Highways.
Mr.. Dukehart, from the Committee on Ways and
Means, submitted their annual report, copy of
which will be found in another column
Mr.. Granville called up the order of the day,
which was the annexed preamble and resolution
offered by Mr.. Dukehart on Tuesday last:
''Whereas, the Baltimore and Ohio Railroad COM
pany, on the 18th day of December, 1857 declared a
dividend of thirty per cent on the capital stock of
said company to be paid to its stockholders in GER
tificates of indebtedness, bearing interest; and
whereas, the declaration of said dividend in the
form it made did not meet the approval of the
city, and to prevent the same from being delivered
in the form it was made the Mayor and City Coun-
ell did, by Injunction, restrain the said company
from issuing the said certificates; and whereas, the
proportion belonging to the city amounts to the
large of one million and fifty thousand dollars,
which amount would be highly beneficial to the
CITY, If obtained in manner and form not obiec-
tonabe, and also for the purpose of ending the iti
cation now pending in the courts injurious to and
costly to all interests, large part of which falls
upon the city in her corporate capacity and as
stakeholder; therefore,
Resolrcd Jy the First and Second Branches of the
City Council That the Joint Standing Committee
on WAYS and Means be and they are hereby author
lied and requested to confer with the Finance Com
mittee of the Baltimore and Ohio Railroad Company
with view to an amcabe settlement of the matter
now in controversy between the City and said Com
pany, and report the result of any action had by
the two Committees to the Council early as prac
tcabe.
The President, (Mr Ford, Mr. Dryden in the
CHAIR said that he felt it to be his duty as the sue
cessor of Mr.. Alnutt, from the 18th Ward to reply
to the exceptions which had been taken to a report
submitted by that gentleman at previous session OF
the council, by Mr.. Dukehart, in his remarks before
the council on Tuesday last. He then went into a
review of the subject, from its earliest history,
quoting from numerous railroad reports reports to
the council, &C.. and from the facts set forth there
in argued that the dividend declared could not
safely be paid out without great injury to the
interests of Baltimore, and the endangering of
the loans due to the city by that road. He
did not wish to be understood speaking OF
the gentlemen who composed the stockholders di-
rectiOn personally, but officially. The record at
tested beyond controversy that in many instances
in the road legislation for the past few years. these
directors had, as unit voted directly against the
interests of the city in this vork-scarce an in
stance being recorded where they could be fornd
acting individually, but with an apparent under
standing with tie private stockholders interest
alone in consideration.
He deemed the idea preposterous for this Com
pany to think OF paying an extra dividend at a
time when it is compelled to reduce the salaries of
their employees, and to go upon the street and buy
up deprecated bank rags with which to pay these
employees even their reduced salaries The whole
thing he deemed alone to the interests of the private
stockholders, whose power in the direction of the
road had ever been welded against the principal
stockholder-the city-as he did not for a moment
doubt that the paying of this dividend would be
succeeded by the rapid depreciation of the stock.
Upon concluding a heightened and quite COM
prehensive array of reasons against the policy OF
paying the dividend, he closed by urging the
Branch to adopt the majority report of the Com
Their prosecution of the matter in the Courts.
Messrs. Staylor and Dunnock expires eG similar
views, and warmly urged the adoption of the major
ity report.
vocated by Messrs. Beale and Drkehart, and vote
being taken they were rejected by the following
vote:
YEAs-Messrs Banded, Dukehart, Beale--3.
NAYs-Messrs. President Hynes, Maddox, Beach
am, Talbot, Staylor, Cunningham, Hampson, Ham
ilton, Dunnock, DRYDEN, Wood, Granville, Addison
MCOmas, Harvey, Clark-l7.
A motion OF Mr.. Hvnes to adjourn was lost,
when Mr.. Dunnock called up the resolution to
which this preamble and resolution were substi-
tute which decided in the negative. when the
majority report, which looks to the prosecution OF
the suit pending in the Court of Appeals to prevent
the issue OF the additional and the paying of the
extra dividend, adopted.
Mr.. HvneS again moved to adjourn
The President hoped he would not press the mo-
ton, as there some necessary business claiming
their attention for a short time.
Mr.. II ynes-l call for a vote my motion. You
can't cram anything down my throat in that way.
The President puts his feelings against the other
members.
The PRESIDENT hope not, and will put the
question if the gentleman insists.
Mr.. Hynes-l do.
The motion put and decided i'll the negative
by yeas 3, nays II.
The clerk thnn read a uJIn,bnr of resolutions
&c, returned from the Second Branch.
As the clerk was reading Il revised ordinance, it
being upon its first reading. motion was made,
after portion had been read, that $50 much be
considered its first reading,'-a customary rule
with the Branch
The Presidential there be no objection, the
rules will be suspended and so much be considered
the first reading.
Mr.. IIvnes-I object Read it ALL and if they
are so anxious to stay, let's keep EN- here all night.
The motion to suspend the rules was adopted,
and another ordinance submitted by the President
in similar manner. when Mr. Cunningham OBJ
lected and the branch again suspended the rules
Mr. Cunningham moved to adourn-lost.
Mr.. Beale-Mr. President | call up ordinance
No. T.
Mr.. Glanville-I move we adjourn.
The President.,The motion is not in order while
the gentleman Mr.. Beale,) has the floor.
Mr.: Glanvie-Then, Mr. President, | adjourn
myself We have been kept here long enough.
Mr.. Beae then yielded the floor and the branch
adjourned
SECOND BRANcH.-The Branch met pursuant to
adjournment. John B. Sedenstricker Esq, Presi-
dent in the chair and all the members present.
The ordinance prescribing the duties of the City
Commissioner, and increasing his salary to fifteen
hundred dollars, was received from the First Branch
and passed
An ordinance to condemn and open alley be-
tween Eutaw street and China alley, and Montgom-
cry and Henrietta streets, received from the
First Branch and passed.
An ordinance to provide for the removal of the
present Centre Market House, between Lombard
and Second streets and to provide for the erection
of another structure in place thereof received
from the First Branch and laid on the table.
The resolution appropriating the sum of $500 for
improving Pattersons Park, was called up by Mr..
Herring, and after protracted discussion, re-
terred to the Committee On Highways.