Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-02-03

ANEotEGCNef AAaI AGAC&AA1A a. RAA ~
having claims to be audited must pr
sent them on or before the Saturday pr
ceding the regular meeting. Motto
postponed.
ORDINANCE COMMITTEE.
Alderman Durf, of Ordinance Con
mittee, reported unfavorably on the Oh
dinancs repeating the ordinance con
pelling the removal Of carriage step
ETC., from the sidewalks. The Com
mittee would suggest a resolution con
polling, not only the re ioval or earriag
steps, but apple and peanut stands, etc
and all distractions to the free and ope.
travel of the sidewalks aud streets
Adopted.
HOSPITAL COMMITTEE.
Alderman MOffatt reported that tn
management OF the City Hospital hat
been brought down TO a system of mos
rigid economy. The provisions receives
were properly carei for and econOmised
The books were kept by an eXc9llen
system, by which il could bs seen VIVA
every patient cost the city. Mr.. Vigns
the druggist, reports the medicine o
each patient to cost an average @
twenty-nine cents. The report recon-,
mended the securing Of the services o
a horse to be used in making q vegeta'
bic ~gsrden-and suggested that the chic
of the fire department be applied to for it
The report wGs read, filed and adopted
GAS COMMITTEE
Reported adversely to the purchase o
tools from the Nicholson Pavement con,
tractors, and favorably or the appljes'
ton for a lsmp.post on the corner o.
HernsndO and Vance streets. Report
received, fled aud adopted.
FINANCE COMMITTEE.
Alderman Walcott OF the Finance
Committee, made the following report
MEMPHIS, February 2, 1863.
To Che Hon, Board OF Mayor and Aldermen:
Your Committee beg leave to report
that, taking for granted the correctness
OF the C~omptroiler's published tables, we
find the due Indebtedness OF the city tc
be $685., 055 SO; the probable expenses Of
the 42i corporate year, Sl75, 600; July in
t@erest, l 10000; making a total of 1913,
055 SO.
We have to pay with, Jan. l, 1869
Amount of colleetsb!e taxes, 1870 S97 IS:
taxes for the 42i corporate year, TO be
collected, say, $500, 900; probable receipts
rom m-arket-hOuses and Wharfage, say,
$4,000; making q total of 1910, S97 rs.
Thus leaving q balance for contingent
expenses, of about SIS. COO, at the close
OF the AID corporate year.
But your Committee is well satisfied
that bat little, if any, money can be ex-
pecied before November. Mr. John Il.
Bowen is preparing his delinquent list
for publication, and ii is to be hoped that
the amended law may work well, but
with the present floating debt against
the city, no money can be realized.
And with the Simpson Judgment
ciutchipg at your railrosd stocks, So, 600,
which, by the by, must be paid within
ten days, or your stocks are gone-with
mortgages upon your realty, maturing
about the hrst Of March, for $50. 600,
with the unpleasant but just claims of
laborers, your firemen, and the hun-
dreds OF small creditors, meeting US st
every turn, and whose aggregate de-
mands amount to 30, 900 or $40 600; thus
making it i~mperatively necessary for US
to raise at once at least $50, 900 in cash,
With these facts staring US in the face,
your Committee find themselves unwil-
ling to depend upon SO uncertain a source
az the collection Of taxes TO rep!enish
the empty treasury.
Now, now are we to raise money ?
What coll2terals have we to offer?
The people and the press seem opposed
to the sale or hypOthecation Of your rail-
road stock, and even were they in favor
of it, the greatest amount it were posi-
BILE fer you to realize from this source
would not more than satisfy the present
Creditors OF the city, leay-
ing US nothing wherewlth to pay the cur
rent expenses OF the city government,
during the dull summer months,
Your real estate cannot be sold fsvOFa-
bly,, as any person In the real estate bust.
ness can tell you. You cannot borrow
upon il, az it is already encuIn-
Osred. But if uniueumbered, the
amount you need could not tie fur
by any Laonsyed institution in
Memphis, at q fsiT rate of interest, be-
In order to do so, they must have
such collateral, or, security, that can be
again used.
Many persons have suggested to give
The city's notes, two for one for twelve
nonthk; bat this would only be scrip,
,he issue Of which the Board and psople
seem opposed 10, for many good reasons
cot necessary for your committee to emu
Again, such security would not
good abroad. So this resource falls
rs.
And now, Gentlemen OF the Board, |
only door h1F Tsliei that sesms Clearly
open to Us is bonds. Ssy not less than
$500 ,OOO, which, when issued, need not
necessarily be f0rcsd upon the market,
and sold for what they will bring, hut
Use them SIS collateral, with which there
would be no difficulty In raising money
and let them be s%crupulOusly used FOR
.h5 Payment and absorption OF your Que
iebt, and for no other purpose.
And if the reports sad opinions of cur
3ity officers afs correct, there is no rea-
son why said bonds, fused "a suggested,
not be FetiFsd so fast as q sinking
-upd should be created, GBd the cityfs
credit raised TO Eear par, or equal to 20.
ice scrip.
We you'd say that your committee
las approached this peint with great eau
ion and delicaoy, and only after a thor
ugh investigation OF the subject and
We hope our suggestions will meet with
he approval OF the Board and the tax
public. All OF which is respect.
ully submitted,
i. n. WALCoTT, Chairman.
Report received and filed.
Alderman MOffstt reported adversely
allowing the Sheriff pay for holding
for School Visitors, that Board
1aing liable for the amount.
SPECIAL COMMITTEES.
Alderman MoffAtt, OF the special Com.
Of three I" to investigate the MODE
# issuing," etc, reported rs follows:
70 the Hon. Board of Mayor and Aldermen:
The Committee appointed to investi-
rate the mode OF issuing aud paying City
Warrants, report that it has been adj
nitted that some warrants were issued
u 8 negligent and irregular msuner the
acknowledgement coupled with a solemn
that such irTegClerity shall
lOt occur again. The Committee also
ind that it has beau the habit OF reve-
Tue officers to each warrants instead OF
eturDing the cash they collect to the
Jity Treasurer and, believing that the
collectors of public money to
le the dishurseTs thereof is not conducive
o the interests of the city and should
lot be tolerated, would recommend the
OF an ordinance preventing such
elton on the part OF revenue officers.
Report received and adopted.
Alderman Cartwright, Of the Com
1ittee to whom was referred the clean
Dg of the streets, presented the follow.
e resolutiOu covering the whole grounds:
RESOLVED, That the Mayor, with the
ssistsnce Of the Chief Of METROPOLITAN
'Oliee, continue to clean the pavement,
nd that the Msv0r rScHiUa hfds Tor