Evening star. [volume] (Washington, D.C.) 1854-1972, 1868-08-18
Csrpsratien Affairs.


BOARD OF ALDERMKN.-At 7:35 O'Clock last
evening me Board was ca He'd 20 order by the
secretary, Mr.. II. A Hall. who stated that the
President, lMr. Richards,) was absent from
The oityi when, on motion OF Mr. CLARK, MI.
Crocker, was called TO the chair. The Presi-
oent pro tem announced that no quorum was
present. tnone Of the Conserv atives nor Mr.
LArman had made the ir appearance,) when
on motion of Mr.. CLARK, the Board adjourned.
BOARD OF CoMxoE CoUScIL--The Board
met al the usual hour, President Fowler in the
Chair.
Mr. Kelsey introduced bill authorizing the
erection Of lamp posts, and the lighting of
Fourteenth street west. from II street north to
Boundary street Referred to Committee on
Improvements.
Mr.. Russell introduced the following resolu.
ton, winch was agreed 10:
RssoIred, That the Mayor be, and he is here
by, requested to furnish as early as practica-
Die TO this Board, a detailed statement Of the
entire Indebtedness of this Corporation which
statement shall clearly show: 1. The amount
OF the funded debt and the interest Ne there.
on. 2 The amount OF the floating debt and the
Narlons purposes for which said debt was in
CURED 3. What amount Of this Indebtedness
u TO be hquidated from the general fund. and
what amount from the several ward funds.
respectively.
Mr.. Arrison moved to suspend the rules, for
the purpose Of taking mp the bill to provide for
me issue OF bonds TO pay the floating debt of
the city.
Mr.. Russell did not think there was anv
necessity to hurry up this bill. The Board Of
Aldermen was not ready 10 act upon It. and he
therefore suggested that IL lie over until the
amount OF indebtedness should be known He
desired 10 vote on the subject understandingIy
Mr. Arrison replied that this Board was not
responsible for the action Of the upper Board.
This Board should do its duty and pass the biIl
at once. The information called for would be
very useful, but 1t could have no bearing on
TINS bill, which was authorized by an act OF
Mr.. Kelsey said IT was necessary 70 mass tho
bill without delay, and stated that the indebt.
edness OF the city was e1,5OO,OOO, which mad
acc 1nulaied BY the luxury, extravagance,
anc fayoritism in the former administration of
affairs in this city. At present there were no
means to pay the interest on the floating debt
and It was necessary for the credit of the city
Mr.. Russell desired ed .o Hees teE .nnn,
amount OF bonds TO pay of the indebtedness
Ihe Mayor had said the floating debt was
sScs,eOo, and why was it now proposed 70
70 issue SSO0,oO0 worth Of these bonds
After further debate the rules wers su.-
pended, by vote Of Q TO 4, and the Board pro-
ceeded 10 consider the bill. paw
The bin Is the same as published in the
STAR OF last uesday.l
Inc Dill having been read for information,
MI. Russell moved 10 strike out, In the frs;
seetlon, "seto,0e," and to insert ..saOO,OOO:''
which was not agreed to-yeas :: uays NJ
Mr.. Hine moved 10 amend in the first sec
uon, oy SINKING ont the word ssliquidated.
and insert "ascertalned,' so as To provide ma,
tne oohos snail De received in exchange to any
matured OF ascerained Indebtedness OF the cor.
poration.
The second section of the bill provide. that
-Anefe De, and hereby Is, set apart, pledged and
Appropriated out Of the general fund, for the
year ending ON the 30th day Of June, A d.
1859. and for each succeeding year. an amount
not less than ten per cent. of the amount of
bonds issued, which shall constitute a sinking
fund for the payment OF the aforesaid bonds al
their maturity; said sinking fund snail he
created by the assessment and collection of
somclent aooitlonai taxes levied, assessed, and
eollected. as other regular taxes. and to be ex-
clusively used for the purposes and in the
manner herein set forth.
Mr. Taylor inquired if this sinking fund.
provided for In the bill, was 10 remain idle
during the whole time.
MI Kelsey thought it was not necessary for
ms Council to iegislate as to what any future
council might do. The money could be dis
posed Of hereafter If deemed expedient
MI Taylor hoped ths sinking fund zach YEAR
would be applied 10 the payment OF the debt.
'ana ms ms get nd 81 the interest.
-. ..1.sey said tnat as cary as 1879 the debt
pi the city amounted TO $1,000, besides other
borrowed sums. In 1eis an act was passed TO
fund the deof 10 the amount Of $4,000. In 1892
the debt was funded to the amount of els. 600.
In April, 1887, all these debts were funded and
consolidated TO the amount of slOe5I3. The
corporation about that time attempted to raise
money by lotteries, and became so involved as
TO render it necessary to raise Sls7, is1 with il.
enormous interest and judicial expenses In
1s43 the debts OF the corporation were funded
and consolidated. as misunderstanding six
per cent. stock, go, $50; outstanding Claims for
the purchase Of the Washington canal, s49.s5O;
do for Its Improvement. Sl37, ESQ: OUTSTANDING
subscription to the Chesapeake and Ohio ca.
nal, se42.&3Oi outstanding due bills, $500: out
standing six per cent. lottery stocks, converted
from SIS, $500; making S53s, 60. This was
then denommated ssthe general fund six per
cent. stock" In ls&7 the sum Of s55,ooO was
general fund, yearly, as q sinking fund for the
payment Of the interest and redemption OF the
principal Of the then funded debt OF the corpo-
ration At that time its funded and outstand.
ing or floating obligations amounted 70 $50.
2cs.22. In 1851 "water stocks were issued
amounting 70 si500Uo. The funded debt, there.
lore, at the present time, is se4oeOs22 The
amount 70 ei,44s,s41.21. These figures repre-
sent the present financial CONDITION and EN-.
barrassment Of the corporation. The corpora-
uon Is required by the charter Of ls&s to apply
not less than $1,000 per aInum for redeemins
tne present debt he urged the passage of the
bill under consideration as the most feasible
and Judicious method for present and perma.
Mr.. l. b. s. Miller moved the previous mes.
ton. He was tired OF this discussion
Mr. Russell moved 70 strike out the appro-
Pnt PIE Oh sio,oo 70 carry the bill into effect,
On motion Of Mr.. l. II. s. Miller, the pre-
yiors question was ordered, but without taking
a vote on the bill the Board adjourned TO 20
into Joint session
The joint nesting was called to order by
Mayor Bowen, and the reading Of the Journal
Alderman Moore desired q correction of the
Journal and moved 10 postpone the approval
OF the Journal to next Monday evening He
stated that the entry in the Journal OF his
motion was incorrect and he would hand to
the Secretary the correct statement Of his mo-
ton.
The motion Of Alderman Moore was not
agreed 10.
The Journals were approved by a vote of
yeas 10, nays IL.
Alderman Moore moved to proceed TO the
election Of Superintendent Of Sewers, Car
riageways, &c.
Councilman Arrison move 70 amend 80 as
Chimney Sweeps; which was agreed to-yeas
The motion Of Alderman Moore, as amended.
was agreed 70.
For Superintendent Of Chimney Sveeps nj
the First, Second, ana Third Wards the MAYOR
nominated Charles Stewart; Councilman Davis
nominated Michael j. Quigley; Councilman
Bartlett nominated John Reitsmilier; Alder
man Croker nominated Edward Ambush
The first ballot resulted-Reitzmiiler 10
Quigley 9. Stewart IL, Ambush 2. No election.
The second ballot resulted-Reitzmiller 3
Quigley IL, Stewart III, Ambush 2 blank 4
No election. The third ballot resulted~O nig-
ley II, Stewart 10, Ambush 2, Reitzmiller 1. So
Mr.. Quigley was elected.
Councilman Chase moved that the conven-
ton adjourn sins die.
Alderman Moore inquired whether there
was another superintendent TO be elected. He
deprecated the attempt TO adjourn sine die
before the business Of the convention was