Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-09-03

refer 1t to the Finance Committee.
Alderman O'Donnel asked permission
TO present q petition from Louis Vaccaro
and others in regard to the grading of
cutters on BeaI street. Referred to
Paving Committee and City Engineer.
By the same A report from the City
Attorney, in regard to a bridge or Madi-
son street, was received.
BY the anne A report from City Eu-
gineer and Improvement Committee, on
the opening OF Georgia street, below the
Tennessee Depot, at the cost of 5000.
A motion to refer to the Finance Com
mittee, was carried.
Alderman Hoist, Chairman of the
Fire Committee, reported in favor of 81
lowing Father Schneider to roof st.
Mary's Church with shingles. Report
was received and adopted.
Also il favor Of cementing cistern, on
the corner of Elliott and fernando
streets. Adopted.
Also q resolution to empower the
Finance Committee to purchase 100 feet
Of gum hose for the use of the Fire De
partment.
Alderman Cartwright offered several
resolutions on minor points, which were
referred to the appropriate committees.
BY the same, the following resolution
WHEREAS, the official records of the city
develop the fact that not an inconsider-
able amount of the one million of dollars
of city bonds, the issue of which was au.
thOrized for the funding of the past due
Indebtedness OF the city, has been d.
verted from the purposes designed, with
out even a plausible pretenee Of author
ity, thus seriously involving her public
credit therefore be it
RESOLVED, That the further Issuance of
bonds is expressly inhibited until special
authority in the premises shall be given
by future action on the part Of the Board.
Moved, by Gen. tRufin, that the resolu-
ton he tabled.
Alderman Passmore asked Gen. Rufin
to take the Chair, and then addressed
himself to the Board in support of the
resolution.
Here ensued a lively and exciting
scene. Alderman PRssmoFe announced
himself the author of the resolution.
reasons for it were the fact which he
had CLEANED from the official records of
the city, that Of the one million of dol
lars issued in bonds, only q hundred
and ffty-six thousand dollars remain
o in the hands Of the city.
And for this enormous outlay Of eight
hundred and fifty thousand dollars, what
have we to show? Only yesterday
when the chairman of the Finance CSm-
mittee Was called uoon to report in re-
gard to the Metropolitan Police, he asked
for further time. Thirty dave they had
had, and yet not an iota doDe-not even
q suggestion to make. Eighty odd
thousand dollars is the sum that
they were to raise to pay off this Metro
pOlitan Police and get RID of thst incubus.
And nothing done at aii-not even a
suggestion (! And yet we talk of the op-
pressiOns of the Metropolitan Police, and
feel that 3 hundred and sixty thousand
dollars would be a cheap price to pay to
get rid OF them.
Another thing, at the last meet
ing, continued Alderman Passmore,
said that money had been Dor
rowed by this committee at one and a
half per cent. q month, and Alderman
McDavitt, the chairman Of that COM
denied the statement. Inow am
prepared to show that they have bor-
it at that rate, and in some In
deposited city bends as
collateral for it. 1 hold in my
hand an official copy of the re-
cord of the T~reasurer's books, showing
Alderman McDavitt has borrowed
money at that rate from the Merchants
Company, of which he
Is 1.-The amount of bonds Os-
remaining" continued he,
sis 1856, 900; but of that you
owe the First National Bank $50, 900, MI.
Msyberry S100, 900, and Mr.. Dow $21, 600
making q total of $95l, 900; or nearly
3 hundred thousand dollars more than
you have got.n The speaker then went
1n and reviewed in an able manner the
prospects Of raising money by taxes.
According to the Tax Books $3.50, 600
would be due the city for taxes at the
of the year, of that not one half will
collected, and the city owes 500, coo !
How much better, asked he, is this
management than that of the old
Alderman McDavitt took the floor and
a an able and concise mRnne reviewed
he financial condition Of the city and
me causes which led to the present state OF
He said that Mr.. Passmore was
mistaken as to his saying that he had
never borrowed money att and per cent.
he had done 1t several times. He made
'ome personal explanations, and yielded
he floor to Alderman Mageveny, who
entertained the Board until called to or
Ter by the Chair, telling bis experience
q "sanetimonlous old thief" of an
who used to serve on the same
Board with him, forty-five years ago.
Alderman Ruf1n told him he was wan
from the subject, and he asked
What was the subject, and stated he had
orgotten it, but had given the Board
'ome good advice, which the Chair might
AXE to himself, if he felt like it.
Alderman Renner called the Board
to the question, and supported the
'esolution in a forcible apd lengthy
lpeech.
Alderman O'Donnel thought that the
gentlemen only came there to see how
ong q speech each could make. He was
to speech making, and to any
'esolution that would have q tendency to
'reate more distrusL and alarm at the
present condition of our finances.
Alderman McDavitt thanked him,
md stated that such q resolution
Is the pending one was useless,
q the books of the city were open, and
III b information the gentlemen might
Vant on those question: they could get
y going to the books or applying to the
finance Committee.
alderman PassnnoFe claimed the at
ention OF the Board to a personal ex-
'Aehee'Ou 1uu Uot6usS dS 10 peFsOQht ln-
lutat.ons which had been cast upon
lin during the debate.
The question was then called, and the
esoiution voted down-nays IL, ayes 8.
Alderman Cartwright, OF the Fourth
yard, offered a resolution In regard to
hroWing water and offal, ETC., into
be streets. Adopted and referred
o Ordinance Committee.
Alderman Black moved that that por-
ion OF the Mayors message which re-
luested authority to lend the Nicholson
'ayement contractors the SUM of $l00,-
in paving bonds, be granted. Adopted.
Alderman MsgaveDey offered the
Of James Kimhall as the appointee
u the Mayor for the position OF Hospital
Steward, and asked for the confirmation
If the Board. Given, by a vote Of I to 8.
a resolution was offered by Alderman
authorizing the Mayor to
ssue paving bonds to run thirty years,
Mayor Leftwich explained, that he had
N opportunity Of disposing Of paving |