Evening star. [volume] (Washington, D.C.) 1854-1972, 1861-06-03
GEORGETOWN.
Corrssponds1cs Of Ths STAY.

Both boards Of our City Council were In session
last evening.
A resolution Of great interest to holders Of our
Corporation money, entitled "a resolution pro-
viding for the redemption Of Corporation notes."
was, after discussion, passed by the Board Of Al
dermen, but was not acted on in the lower board
for want OF time 90 consider t.
The boards in joint convention elected Henry
heaver police magistrate 70 Nil q vacancy.
A resolution In favor Of VIM. w helan, and reg
ulatlng water expenses, and resolution In favor
OF John Boothrwer passed bv both boards
I'D the Board OF Common Council several mes
sages from the Mayor Were appropriately referred
-one recommending immed late spprs priation
Tor the relief OF the families of our volunteer sol
diery; one recommending Mr.. Henry Resver for
cancy;) one In relation to the repair of pumps;
one In relation to the bad condition Of High street
hear Eighth, and Of Fayette street: and one en-
closing an account Of Mr.. Sessford.
An account Of the late police magistrate wv
A: king) was referred.
The committee on grievances was on motion
Of MIR. Newman, discharged from further coasid-
Grafton Of the petition Of John Moore and Others
for gas mains on Jefferson street Adjourned
About one hundred horses, carts, and laborers,
were withdrawn from the work at the d stri buting
reservoir Yesterday TO work the intrenchments
on the Eirg nia side Of the fivef. and like num-
Der have gone over this morning. Nszrly or quite
one half Of the efficient force heretofore upioyed
upon the reservoir, are now engaged In work en-
the defenses south Of the Potomac. The alacrity
with which the managers and laborers responded
to the orders for this transfer Of their services is
very commendable, particularly as many of them
are subjected to Inconvenience IA being removed
to considerable distance from their families and
homes
Mrs. Philippe Cropley, an aged resident OF our
city, and mother of our fellow-citizen, samuel
Cropley, Esq died az Normanstone, in this vi
entity last night, at the advanced age Of 81 wears
having been born on the ith day Of July, 1870
GEoRGETows, d. c., June 3, 1o6l.
The following resolution, which Is Of interest
to holders Of our Corporation money, passed the
30 ard of Aldermen on Friday night last, but was
not passed in the lower board for want Of tine:
RESOLUTION providing for the redemption Of
Corporation notes
RsSolred by the Board Of Aldermen and Boo,f of
Common ConroiI Of the Corporation of Gsorgstotcn
That the Mayor and Clerk be- and they are here,
by, authorized and instructed to borrow of the
Farmers and Mechanics Bank $1,000, on the
note Of the Corporation-pSvable ~ $50 on the lst
OF October, 1861 and 81 $50 quarter YEARLY there
after, with interest at per cent, payable On, ~
the interest accruing to the commissioners OF the
sinking fund
ReSoEred, That any three OF the commissioners
of the sinking fund be, and they are hereby, au-
thor Zed and instructed 10 transfer to the Farmers
and Mechanics Bank, or their authorized agents
| $4,000 of the stock Of this Corporation, now
standing In the name of the commissioner of the
| said loan.
ResOiysd, That the commissioners of the sink
| my fund be, and they are hereby, instructed to
| convert so much Of said loan, when obtained as
| they may deem necessary, into Virginia bank
notes. 10 retire the preseut circulation Of CORPORA
ton notes as far as the proceeds Of said LA will
permit, excepting the of 81 500 W hich shall be
applied to the payment Of the interest due on the
stock OF the Corporation on the LIST of July next
RsSoirtd, That the commissioners Of the sink.
Ing fund be, and they are hereby, authorized and
4 ms .tuA 70 ~
with green, and the word Virginia erased and
''current' substituted in its place
RsSotred, That said notes shall be paid out only
In exchange for current bank notes; and IL a sur
plus should accumulate, the cOmmi ISIS oners shall
| convert them into Virginia bank notes II wanted
| to retire the present circulation.
| ktSOirsd, That any three of the commissioners
OF the sinking fund be, and they are hereby, au-
thorlfed to transfer to any party who may desire
| It, holding the notes of this Co!rorstion upon a
certificate signed by any two or more OF sa;a COM
missiohers that the notes have been burnt, tbe
| stock OF this Corporation now standing in the
name OF the commissioners, 10 the amount of Cor
poratOn notes destroyed by burning
ReSoIred, That SO much Of ary resolution or
ordinance of this Corporation as Is inccasistent
with these resolutions be, and the same are here
| by, repealed.
In this connection we will add that we are In
debted to William II. Tenney, Esq clerk of the
commissioners of the sinking fund, for a statement
In relation to the condition Of said fund and the
| circulation Of Corporation notes. from which we
| gather the following interesting details:
Amount OF stock, mortgages, DC held by
the commissioners on the LIST of Drill LA, over
slUGO eco, Cf which S67 $40 is in the stock of the
Corporation
"'rhe Corporation notes in circulation amount
10 sag ,1o7. htse notee ATE secured bk plhdgs
| Of Corporation sock, into which they can be
converted at any time, and this Corporation has
never yet failed to pay the interest Its stock in
par funds "
The notes are also received for taxes, licenses
| and other debts due the Corporation, which
amount to s44 90 annually, or mote than enough
10 absorb tke entire circulation in one yeaf
| Under ordinary circumstances the comma
sloners would not hesitate TO put Corporation
stock In market lit has usually sold at par) and
mus redeem the entire circulation at once but II
would not be prudent TO do so at this time The
| last sale we hea d Of was at ninety cents
| The notes Were not issued by the corporation
to pay ib expenses but Ito Constitute king find
ana those not retained to redeem with were In
| vested In stock, and the difference between the
circulation and the stock held will show the Gain
to April l, 1851, TO be S57 ,2I3
. The sinking fund has been in successful oper-
alton since loi6, and the corporation notes have
Deen preferred to Virginia money, and If II con-
unues, will reduce the debt of the corporation
| $1,000 annually, and more as the earnings seen:
muiae.
W trust the bill before the corporation will
pass, and enable the commissioners TO continue in
operation a measure Of which the late sagacious
Francis Dodge, Esq, was the author =
Inc Anderson Rifles, Capt Rodier marched
ms un morning al TWO o'clock to some point in this
vicinity where they will lie stationed We under
stahd they Will encamp In the neighburhood OF
tne ChalR Bridge, probably on the nj phts on the
Maryland SIDE, short distance west OF the bridge
4 IST OF LETTERS REuaI>INc ~ INN