Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-08-06
COUNCIL PROCEEDINGS.
Report Of Alderman McDavItt.
Election of alderman.

Election Of Alderman.
Pursuant to adjournment, the Board
met yesterday afternoon at four O'Clock.
Present: Hon. John w. Leftwieh, May
or; Chairman Swayne; Aldermen CLAN
cey, Johnson, Joyce, Black, Mageveney,
Cartwright, ODonnell, Cicalla, Ruhin,
Renner, Passmore, McDavitt, Ellis,
Brown: Hoist, Moffet and Lemon.
The Board being called to order, the
chairman of the Finance Committee,
Alderman McDavitt, presented the fol-
lowing report:
Honorable Board of Mayor and Aldermen:
Having been appointed by your hon.
orable body to visit New York and other
large cities, with q view to place our
| financial condition properly before the
capitalists Of those cities, 1 have the
| honor TO report that / have performed
! the duty assigned me to the best of my
ability.
On my route to New York spent sew
eral days in Louisville, Cincinnati,
| Washington and Baltimore. 1 found
| our city's credit at very low ebb in all
| these places. / think, however, this is
owing to the fact that the capitalists gen.
orally whom met have a very imperfect
| idea OF our true condition, resources, etc,
and I believe that my "trip will eventn-
ally result in much good,
Upon my statement of the amount of
real estate held by Us, and an assessment
of over $35, GOO, 900, from which TO derive
our taxes, IhAd the qualification to sat
isfy monied men that our debt Of at most
eli u,
sources, and that our bonds ought to be
in the neighborhoOd of par, and bat for
the unfortunate breakdown In Tennes-
see bonds, during my stay in New York,
feel sure our bonds would have rapidly
advanced but this breakdown had
very depressing effect las l feared IL
would upon all Southern securities.
| had another difficulty to contend
with in the sitting Of the Democratic
Convention, which created such pO-
lltical commotion in the city that was
not able 10 do as much az | otherwise
could. Besides, i was confined a week
to my room by severe attack Of sick
ness; still, every moment of my time
that I was able to use was employed in
the interest of the city, even TO denying
myself the pleasure of attending any
meeting Of the Convention.
In the city OF Baltimore / was able to
accomplish more. I found there citi-
zen holding thirteen of our ten per cent. |
bonds, and induced him to surrender
them and accept six per cent. bonds in
place of them. This exchange has been
made and the ten per cent. bonds can
eeled I think it best to get up all those |
ten per cent. bonds, and 1 have labored |
to accomplish this ever since learned |
that any were in existence. In Phila- |
delphia found very little sympathy for |
anything South except the eolOred pOpu- |
lation.
In all my interviews with monied men |
they urged the Importance of our pro-
viding, by special ordinance, of a stipu
lated Iund yearly, to be set apart as a
sinking flnd to be invested in our own /
bonds, and when we come to realize the /
large amount of our Little Rock Rail-
road bonds that will mature in 1872, we |
will see 81 once that this matter has been
already too long postponed.
l cannot close this report without re-
ferring in terms Of high praise to the /
valuable aid rendered me at Louisville, |
Cincinnati and New York by Mr. f. s. |
Davis, President of the First National |
Bank, who was with me in all those /
cities. Most respectfully submitted,
L. McDAVITT
After the reading and reception of the /
foregoing the unfinished Hospital bust
ness was taken up.
A motion to amend the motion to re-
fer the matter to a special committee,
was carried, after 3 protracted debate,
and the original motion, as amended,
was adopted.
The portion of the Mayors message,
which recommends the allowing Of a
first class clerk to the City Comptroller,
was then taken up and eongideEfSdt the
Alderman oRR Bed an extra Clerk, at a
salary of Sl25 per month, to I'll up the
ponds now being issued by the city. He
Also moved that the Wharfmaster be al
owed an assistant.
Both motions were referred to the
Finance Committee, with the amend
nent that the furnishing of the clerks to
all city officers be embraced in the refer
snce.
Alderman Passmore offered the follow
ng:
Resolved, etc., That all parties having
claims against the city must present
hem to the Committee on Accounts on
The first Of every month, or they viii be
rejected. Adopted.
BY the same:
An account in favor OF II. Weadly, for
s4I7 80. Allowed.
BY Alderman Moffet:
A motion that requisition for feed for
he street teams be allowed. Carried.
ALDERMAN OF THE FIRST WARD.
To fill the vacancy occssioned by the
resignation of J. J. Powers, the following
names were placed in nomination; II.
9. Goodlett, j. o. Drew, Owen Dwyer,
M. Garvin, John Zsnt.
The first ballot resulted as follows
Goodlett, 8 /; Garvin, 2; Drew, l Dryer,
2; q sat, 4.
Second Ballot-Goodlett, 8 /; Garvin, 2;
Dryer, 4; Zent, 3.
Third Baliot-Goodlett, 8; Z9nt, 81
Dryer, 4.
Fourth Ballot-Goodlett, s; Gent, 8
Dryer, z; Garvin, l.
Fifth Bailot-Goodlett 8; zent, 2
Dryer, 8.
Thereupon the Board adjourned to four
o'clock this evening.