Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-10-12
CITY COUNCIL.
Called Meeting Of the Board of Al
dermen.
The Little Rock r. r. Stock Again.
The Board Reseind their Vote to
Sell it,
And Are About to Give it to John c.
Fremont.

/ nOuZn AUG OILY AHStE ~ u bN AOhA
wears OF rascslity, mismanagement and
imbecility, the citizens of Memphis, tired,
sick and disguised at the daily squabbles,
/ brawls and over il, at last
thought they had cause to congratulate
themselves on getting rid of, the Little
Rock Railroad stock.
The meeting was called for 2 o'clock,
but at q quarter past there was no quo-
rum, and not until half-past did a num-
Der sufficient to commence business put
In an appearance. Having been called to
order by Chairman Swayne, the Secretary
read the following
MESSAGE FROM THE MAYOR.
MAYORS OFFICE, CITY HALL,
Memphis, Tenn, Oct. IL, 1863.
Hon. Board OF Aldermen:
GenaeLseN- / have called o together TO
consider another, and 1 believe, a much bet
terprOposition ,regardingthe Memphis and
Little Rock Railroad stock. The Presi-
dent OF the Memphis and FL Paso
Railroad offers the city $4,000 for
twelve months at six per cent. per mum,
placing the stock as collateral in the hands
of one or more trustees, to be selected by
you,t the trustees voting the stock, thus
allowing the city to retain control anduse
1t for their own interest. he also agrees to
lend the Memphis and Little Rock Railroad
Company ifty-twO thousand dollars to
pay interest due in November, and to fur
nish the President money sufficient to
complete the last ten miles as fast as
hands can do IL. This, you will see, en-
sbles the city to retain her valuable stock,
relieves her of her present embarrass-
ments, and prevents the stock from fall
ing into the hands of men not directly in
uerested in the city's welfare, and who
may or may not use the control of the
stock for speculative purposes. I would
therefore recommend that you rescind
| thu raznf1ffnn nrdarfnu the Ealp and ar
accept the proposition now made.
THOMAS MOFFET,
Mayor pro ten.
Alderman Cicalla moved to receive and
adopt.
Renner would like to have the portion
TO be adopted THE recommendation di-
vided. He thought the recommendation
to rescind former action should come first.
While tie entire recommendation coin
| cided with his views, he wished first to
reScind former action and to have the
propositions spoken of In the message
! brought before the Board in proper shape,
which il IS not now. He did not feel pre-
pared 10 vote on a proposition not def-.
! nitely before the Board. He moved, there
1 fore, to amend Alderman Cicalla's motion
BY moving TO Fescind the action taken by
the city on Thursday last in selling the
Little Rock railroad stock to certain par
ties under certain conditions.
AAtalA1 aCCCntc1 AK hAAACAAAAAICllAs
Before s vote was taken, Alderman
Moffet, setting Mayor, was called upon
and asked to explain the proposition more
fully.
He stated that he had been called upon
this yesterday morning TO see a gentle-
man named EppersOn, the President of
the Memphis and Fl PasO Railroad. He
saw him in the presence of Mr.. Brinkley
and Mr.. Greenlaw. He, Mr.. Epperson,
then and there made the offer to loan the
city fifty thousand dollars 1896, COO for one
year at six per cent, taking n Little
Rock stock as collateral: the stock to be
put in the hands Of a trustee to be chosen
by the Board, and IN all occasions to be
subject TO the Board. lie also stated that
he had nude arrangements to finish the
last ten miles of the road (Mr. Brinkley
having stated that he could raise means To
finish the road except the last ten miles,.
Mr.. Epperson said he had no interest in
the world to serve save 10 complete the
road, and make it acOnnecting link in the
CREST Memphis and FL PasO Railroad. If
this were not done the road would pass
into the hands OF spectators against the
interest OF Memphis. Mr.. Brinkley says
the stock will be worth a million of dol
lars in a couple of years if the road is
completed. In. BriRktcy also expressed
himself 10 him as sorry that the safe, or res
OlutiOR 10 sell, to Tdinter hdd been c0nSUha-
mated 5ythe Board.
Vincent moved that the Mayors mes
sage be received. Adopted.
Renner then moved that the resolution
passed on Thursday be rescinded, and the
action telsgraphed TO Mayor Lefwich.
Dyer asked where Mayor Leftwich was.
He was answered, I'm Louisville"
Gallagher opposed the adoption of the
resolution. He asked-"SuppOse the res
Olution were repealed, what guarantee
would tho Board have that this Ell Paso
man would come up with the money?
Only a few days ago" said he, Mr.. Kel-
lar made g UeTy liberal offer TO the Board
so liberal that he 1.-THE speaker was about
to offer a vote of thanks for it. He (Kel-
lar was going to give a hundred thousand
dollars for the Little Rock railroad stock,
and lend the city fifteen thousand dollars
of the money right OF. But when the
Comptroller came TO get the fifteen thou
sand dollars, so layishly offered, 1t mGsR't
there. Somebody had gone back on Col.
kellar. he was all right, no doubt, but
waiting OF han and his promises cost the
city eight or nine thousand dollars, for
the redemption of an engine-houSe, sold to
satisfy an execution of eleven thousand
dollars. Trusting to Col. kellar's prom
ises, the city waited on him and threw off
on men who were in earnest. The conse-
quence was, AFTER Mr.. Baugh, the Comp |
%troller. went for that SIS, 900 to Col. Kellar. !
and didn't get 1t, he was compelled to pay
upwards OF SIS, 900 TO get the engine-house
released-sS,00 600 for a weeks DELAY. Mr.. |
Baugh is present." said Alderman Gala |
CHER, "let him deny it, if it is not true"
Gallagher finally moved to postpone
action till 10 O'Clock Tuesday.
MOfet said he was glad the gentleman
from the Fifth ward had called his atten-
ton TO one point that he had forgotten-
Mr.. EppersOn bad a signed draft for the
money, and 1t was ready as soon as the
city choose TO turn the stock over to the
trustee proposed by him.
Renner advocated the rescinding of the
resolution passed on Thursday land
would like to have the indictments in the
Criminal Court rescinded, alsoL
Vincent was opposed TO going back on
the contract made with the fainter party.
The commissioner had been appointed,
and were on their way TO New York. The
city bad no right to make a bargain and
then to t1rn around and say it was
joking.
Durff said there was no contract made
with the Taiinter party, and that none OF
the commissioner had started as yet.
Gallagher wanted to know what secu-
rity there was for the $52, 900 that this
party proposes to lend the road to paw its
November interest. How does this Board
know that these bidders-this party-are
not speculators2 He moved to postpone.
Hoist moved to table the motion to
postpone. Carried.
Vincent said hat since certain gentle
men had said that there was no contract
with the Tainter party, and that they had
declared they would not accept the city's
terms, he could assert that ne had been
by Mr.. Mahan that the terms
DeTe accepted.
After some little parley further the mo-
tion TO resc4nd was put to the Board, and
prevailed.
Renner then moved to appoint a com
mittee Of two Aldermen, who with the
Mayor and City Attorney should see Mr..
Epperson and and satisfy themselves hat
the guarantees offered by them were bona
nde, and to bring the propositions defn-
itely before the Bosrd, at a meeting to-
morrow lth1s) morning.
O'Donnell moved to amend bv inserting
three Aldermen.
The amendment was accepted and reso-
luton adopted. Aldermen Renner.
Hoist and ODonnel were appointed the
committee.
A resolution offered by Marshall TO ap-
point J. II. Lenow, +. s. Davis and w. b.
etreenlaw, trustees Of the stock, was re-
ferred to this committee. &,
The Board thereupon adjourned to this
morning at ten O'Clock. D.,
OUR ARABS and Kid Gloves the attrac- /,
ion ofeverybOdy. HERZOG & BRO. {
NoTIoN goods, hosiery, gloves, corsets, {
skirts. balm0ral skirfa afa ato d.