New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-03-15
BOARD OF ALDERMEN.
Regular session.

dermen answered to their names:
President Graham, and Messrs. 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:
GENT1EMEN-I herewith tender my resig-
nation as member Of the Board Of Alder
men, to take effect from this date.
G. SCHNEIDER.
COMMUNICATION FROM THE BOARD OF ASSIST
| ANT ALDERMEN.
The following resolutions received for
concurrence passed their first and second
readings under 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
| luB part VI buC uOldGIF SnOIGOl Vi luGlE lull
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:
BEcTIoN l. Be it therefore resoloed, That
there be issued certificates of indebtedness
of tie 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 $500, 900 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 at
the rate of of eight per centum per annum,
payable also in national currency, the Ger.
ti6cates to be of the amounts of $50, Sl09
$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 Both day of June next en-
, suing will be entitled only to interest from
the day of presentation.
Sec. 3. That so much of the revenues a:
may accrue from receipts from the markets
and the levee dues as may be necessary ART
hereby appropriated as q sinking fund for
, the payments of the principal and interes
of tine certificates or notes stamped, above
authorized.
SEC. 4. That all notes received in thu
treasury for above exchange and otherwise
the Treasurer lie instructed to deface or can
] Gel, setting them aside to be burned as hith
l erto, by the Finance Committee, accerdin!
to law.
SEC. 5. That the commissioners of tn,
l consolidated debt be and they are hereb,
authorized to carry out the provisions 0
this ordinance.
SEC. 6. That all ordinances or parts @
= ordinances conflicting with the provision
; of this ordinance are hereby repealed.
Yeas: President Graham; and Messrs
. Carriere, Clay, Devices, and WoolAey.
D Nays: None.
ResolUed, That Messrs. John Breen an
Peter Ross be and they are hereby appoint
; ed appraisers on the part of the city of Nel
q Orleans to meet two appraisers, to be az
. pointed by John F. Walsh, in his own bt
= half, to estimate the value of certain repair
by him made upon the Sorapuru market.
Yeas: President Graham, and MessrI
Carriere, Clay, Devices, and WoOlfiey.
Nays: None.
ORIGINAL RESOLUTIONS.
e By Mr.. Devices:
WHEREAS, By an act of the Legislator
. of the State of Louisiana to incorporate tn
. Commercial Bank of New Orleans, approve
B April l, 1888, establishing company in tn
city of New Orleans invested with bankin
e privileges, and to be entitled the d" Con
l. mercial Bank of New Orleans" the chit
Aks Dft nh arf1 ta -. hn
); conveying of water from the river into til
e city Of New Orleans and its faubourgs, an
into the houses of its inhabitants;
=, Whereas, The first section provides tn
= original capital stock shall be three million
d of dollars;
n Whereas, The fourth section provides tn,
at any time after the expiration of thirt,
five years from the passage OF this act
shall be lawful for the corporation of th
10 city of New Orleans to purchase from th
Commercial Bank of New Orleans til
/ waterworks constructed by said compan
d in virtue of this act and said compsn
l. shall not refuse to sell the works afor
Il said, with all the rights and privilege
e appertaining to the same on the terms her
l. matter provided;
Whereas, The thirty-eighth section pr
n vides that the corporation of New 0rlea1
n shall be supplied BY the said company free
}. charge with all water necessary for th
Y aACo anu OLuOL puUnC Uu
!, poses, as they progress in laying acqueduci
Q they shall place free of any charge wha
r ever two hydrants of proper construetio
g in front Of each square, and the said con
a pany shall supply 3 sufficient quantity {
g clear, pure, and wholesome water for th
= use of the Inhabitants, at the elevation {
y fifteen feet when the same may be required
y Whereas, The forty-second section pr,
n vides that ifatter the expiration of thirty-dv
It years the said corporation of New 0rleaI
II shall be inclined to buy the said Waterworl
e from the Commercial Bank of New 0rlean
l. the price shall be fixed by arbitrators, iN
IS Of whom shall be chosen by the presideI
g. and directors Of the Commercial Bank
o New Orleans, and 1--WE BY the City Counc
k Of New Orleans-eaid arbitrators shall tai
n into consideration the value of the waite
G works and grounds appertaining theretl
d and the amount 50 agreed upon shall
payable in bonds bearing five per cent
d terest, redeemable in not less than ten nj
more than thirty years; therefore, be it
Resolved, That the city Of New Orleai
will purchase the Commercial WaterWoFl
is upon the terms and conditions aa provide
n for In an act Of the legislature Of the sta
O. Of Louisiana Co Incorporate the Commerce
T. Bank Of New Orleans, approved April
Re 1888.
i The rules were suspended and the resol