New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-03-13
BOARD OF ALDERMEN.

March 10, 1868.
The Board met pursuant to adjournment,
and was called to order by the President.
The roll was called, and the following AL.
dermen answered to their names:
President Graham, and Nessrs. Carriere,
Clay, Devices, and Woolfey.
The minutes were read and adopted.
COMMUNICATIONS FROM CITY OFFICERS.
The following communication from Mr..
Schneider, presenting his resignation of his
position as Alderman, was received, and his
resignation accepted, and the Secretary IN
structed to communicate the fact to the
major general commanding the district and
his honor the Mayor:
New ORLEANS, March 3, 1868.
To the Honorable Mayor and Board of Aldermen Of
the CITY OF New Orleans;
GBNTLEMEN-I herewith tender my resig.
nation as a member of the Board of Alder
men, to take effect from this date.
Irema1n, very respectfully,
C. SCHNEIDER.
COMMUNICATIONS FROM THE BOARD OF ASSIST
ANT ALDERMEN.
The following resolutions received for
concurrence passed their first and second
readings under a suspension of the rules,
and were concurred in by the following vote:
WHEREAS, The city notes issues are now
heavily deprecated, not from any doubt on
the part of the holders thereof of their full
value, but from the fact that there are more
in circulation than are needed for the trade
of the city, and that some measures must be
adopted to lessen the same and
Whereas, The large denomination of these
are not needed, and have not been used for
many months as currency, and may fairly
be supposed to be in the hands of capitalists,
to whom the following proposition it is pre-.
sumed can not be otherwise than satisfac-
tory:
SEcTIoN l. Be it therefore resolred, That
there be issued certificates Of indebtedness
of the city OF New Orleans, signed by the
Treasurer and Controller, and countersigned
| by the Mayor, or the notes themselves may
| be stamped in accordance with this ordi-
nance at the option of the holder or holders,
| to an amount not exceeding one million
/ eight hundred thousand dollars, payable in
six equal amounts of 100000 each respect
| lively in one, two, three, four, five, and six
years in United States currency, with interest
| from the first day of March last past al
the rate of of eight per centum per annum
payable also in national currency, the Ger
ti6cates 10 be of the amounts of $50, 500
$500, and $1,000, exchangeable for the five
ten, and twenty dollar city notes out
standing.
SEC. 2. All sums presented for exchange
as above after the 30th day of June next en-
suing will be entitled only to interest from
the day of presentation.
SEC, 8. That 80 much of the revenues a.
may accrue from receipts from the market
and the levee dues as may be necessary ar,
| hereby appropriated as a sinking fund fol
I hn nf a Vrinninal
of the certificates or notes stamped, abov
authorized.
SEC. 4. That all notes received in th
treasury for above exchange and otherwise
the Treasurer is instructed to deface or can
Gel, setting them aside to be burned as hitE
erto, by the Finance Committee, accOrdin
to law,
SEC. 5. That the commissioners of tn
consolidated debt be and they are hereb
authorized to carry out the provisions {
this ordinance.
SEC. 6. That all ordinances or parts {
ordinances conflicting with the provision
of this ordinance are hereby repealed.
Yeas: President Graham; and Messr
Carriere, Clay, Devices, and Wooifey.
Nays: None.
RESOLVED, That Messrs. John Breen an
Peter Ross be and they are hereby appoin
: ed appraisers on the part of the city Of Ne
} Orleans to meet two app aisers, to be a
t | pointed by John f. Walsh, in his own b
. half, to estimate the value of certain repai
by him made upon the Sorapuru market.
Yeas: President Graham, and MessI
Carriere, Clay, Devices, and Woolfey.
Nays; None.
ORIGINAL RESOLUTIONS.
9 By Mr.. Devices:
WHEREAS, By an act of the Legislatu
. of the State Of Louisiana to incorporate Il
: Commercial Bank of New Orleans, approv
April !, 1888, establishing a company in d
city of New Orleans invested with bankil
e privileges, and to be entitled the " Coz
l. mercial Bank of New Orleans, the chi
n object Of which said company is to be t
!; conveying of water from the river into T.
70 city OF New Orleans and its faubourgs, a.
into the houses of its inhabitants;
N Whereas, The first section provides T.
original capital stock shall be three millio
d of dollars;
n Whereas, The fourth section provides th
at any time alter the expiration of thirt
five years from the passage Of this act
shall be lawful for the corporation Of I
he city Of New Orleans to purchase from t
Commercial Bank Of New Orleans t
< waterWorks constructed by said compa
d in virtue Of this act, and said compal
IF said, with all the rights and privileg
le appertAining to the same on the terms he
a. matter provided;
Whereas, The thlrty-eighth section pl
n Vides that the corporation of New Orlea
N shall be supplied by the said company free
s. charge with all water necessary for t
ID extinguishment of fires and other public pV
., poses, as they progress in laying acquedui
le they shall place free of any charge VIII
u ever two hydrants Of proper CONSTRUCT
,e in front OF each square, and the said co
q pany shall supply sufficient quantity
10 clear, pure, and wholesome water for
T. use Of the Inhabitants, at the elevation
y fifteen feet when the same may be requir'
" Whereas. The fortysecond section P
n vides that ifafter the expiration of thirty-f
At years the said corporation of New Orlei
Or shall be inclined to buy the said Waterwol
10 from the Commercial Bank of New 0rlea
a. the price shall be fixed by arbitratOrs,
Il OF whom shall be chosen by the preaidl
e. and directors Of the Commercial Bank
TO New Orleans, and five by the City Oour
* of New Orleans--said arbitrators shall Il
m into confederation thesvalue of the wal
lg work. and grounds appertaining there
ID and the amount 30 agreed upon shall
payable n bends bearing five per cent
I'd terest, redeemahle In not less than ten
more than thirty years. therefore, be II
ResciUed, That the city OF New Orle
viii purchase the Commercial waterWo
Is upon the tpFma and conditions Is proVi
in fer in an act 81 the lerislature 81 the 81
20 Of Louiaiana 80 incorporate the Commer
IL Bank Of New Orleans, approved Apri
q ne rulos wsys Suspended ana the res