Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-02-04
CITY COUNCIL.
ADJOURNED MEETlKG OF THE
BOARD OF ALDERMEt.
Discussion Of the Financial Poll
icy of the City.
The Bonds so be Issued.
The Bonds 80 be Issued.

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at 4 O'Clock, Alderman Swayne in thi
chair, and ~prOeeeded to business.
The Chair announced that the business
before the meeting HRs the resolution
pending al adjournment, on the question
Of changing the hour OF monthly meet
ing. On examining the book of ordi
nsnces he found provision made fol
meeting on the first and third Tuesday
Of each month. He therefore withdrew
the resolution.
Before taking up the Mayors message
Alderman Black, offered the following
resolutions:
RESOLVED, That SO much Of the Eagin-
GERS report as refers to the Nichols on
pavement, be referred TO the Paving
Committee. Adopted.
RESOLVED, That the communication
Of BreVet BTigsdier General Upton be re-
ferred to the Ordinance Committee, and
that they be instructed to prepsre an or
diusnce covering the required ground.
Adopted.
The Chief, or acting Chief OF Police,
having offered 8 chain gang 10 clean the
streets, provided the city furnish the
carts,
Resolved, That the city do furnish the
same. Motion to adopt.
Alderman OiD0Bnell moved to amend,
provided the owners of the carts hired
take tax scrip ia payment.
Alderman Gallagher wished to refer to
g special committee of three.
Alderman Cicalla moved to refer 10 the
Improvement Committee. Adopted.
Jimmy Gallagher wanted to reconsider
the resolution, offered by him the day
before, TO convert the bluff int a park.
The motion 10 reconsider, though not in
order, or permissible by parliamentary
rules, was allowed to be brought Up, but
was defeated by a vote Of II tod
Alderman Dyer offered q resolution
making 1t the duty Of the City Attorney
u take immediate Steps to tRBO posses
sion Of all property Knocked OF to the
city 81 tax ssles. Adopted,
Alderman O'DOnDell moved to take up
the Mayors message by going into an
election for Captain of Fire Company
No. ?, in place OF Capt. Reed, deceased.
Moved by Alderman Clancy, to defer
twenty days. Lost, and an election gone
into.
Mayor LeftWich put in nomination W.
f. Carol, fer The vacancy.
On the FIST ballot there was no cleo
ton, and on vote his Honor was requested
to put il nomination another name. He
consequently nominated ". J. Rsj3. A
second bsll0t stood, Rsja 10, Carol 4.
W. J. Reja Was therefore declared duly
elected.
The request Of his Honor, Ia his mes
sage, for q leave OF absence, and that the
Chairman OF the Board act rs Mayor
during mis- absence, was granted.
By Alderman Foley
Resolved, That the lsbOring men and
iremen, who have been working Tor the
D-g4 fuup nr fhraa wrnnfhE Wffhnuf nav
be Immediately paid.
Referred to Finance Committee with
power 10 set.
By Alderman 0'DOnnell: That the
whsEfmaster - allowed an assistant,
with the pay of SIS per month.
Referred to Finance Committee.
Alderman Renner moved to take up
the ordinance reported by the Finance
COMMITTEES on the previous evening, and
made the speciGl order Ct tbs day.
Alderman Gallssher wished to make
A point Of law, and ezpOUnd the matter,
h15 after "ch8wing" awhile, vas in
formed hy the Chair tbst the affair was
8 matter provided for Ia TIE charter.
He was referred TO TAG cisuse su.hoTlz-
ing the Mayor 10 order tins ~Sic1tiOn.
Jimmy thought his friend Ssers was the
man for the ~OccssiO2.)
Alderman MOffatt called for q reading
OF the ordinance, and the Secretary in
formed the Board thSt il hsd been sent
TO the oficisl printer, and had not yet
been printed or returned. a copy, how
aver was found in the APPEALS report,
and was read thsrefrop. For convent
ence we reproduce the text!
Be it Ordained by the Board Of Mayor
and Aldermen Of tie city Of Memphis, /.
Thatt there be Issued OF the bonds OF the
city Of Memphis $500, 600 in $1,000 b3nde,
having thirty years 70 run with CSSpons
attached, st SIX Der cent. per annuni
which bonds shall be Used ~ the city
n purpose # funding its due in
debtednees aud paying the same.
,. The Mayor, after giving ten days
notice IA the newspapers Of the city Of
Memphis, shell bold an election, and
submit 10 the qualified voters Of the city
whether said bonds sha!l be Issued, and
if approved o. by II msjorIty Of said
voters, the same shall be Issued.
Alderman MofGtt requested the chair
man OF the FinsnCe Committee 70 ex-
plain the condition o. affairs and show
the necessity Of the proposed ordinance.
Alderman Walc0tt stated that he had
no fuller 6s farther explanation to make
than had already been made in the re-
mort Of the previous evening, Within
ten days 3 Judgment Of $4,000 must De
paid TO Simpson, or your railroad stock
is gone The 6rst % March about $780,
900 more come due, and must be paid, O.
up gees your realty. In addition we have
the unpleasant but Just claims of labor
ers. your hremen, sbd the hundreds Of
small creditors, meeting Us st every turn,
and whose aggregate demands amount
to $500 0O or SO, 900 thus making Il i'm
psrativeiy necessary for US to raise ~
once at least SS0,0 900 In cash. By the
proposed ordinance, II you pass it, ge
can raise this sum, and more. by AL
dermsn hoffstt: How much csu you
raise immediately on these $500. 600
bonds p At least half OF that sun. In
order To DO this, il will not be Necessary
to force them on the market; we can
use them ss needed. fQuestion by Al
derman Marshall: How soon can you
raise the needed money, provided We
pass this ordinance? It Will take you
three or four weeks % get out these
bonds: in the meAutlEle, WEat viii you
do?l II the Board sees dG TO order the
issuance of these bonds, it IL al We ask.
The Finance Committee promise 10 raise
the necessary suns Immediately, with
the assurance that the bonds shall b.
forthcoming as soon As they can be got
ready.
Alderman Gallagher AS this is a
very important movement, and we
should bot act Tsshly, we would like 10
hear from his honor the Mayor. l move
that be be invited TO address us. Car
risd.
Mayor Leftwich in response said al
have very little to say on the subject. /
would have preferred another pian-the
one suggested by me-but you saw ft to
reject il. This plan new proposed is the
only q left us, as / believe. While /
was not 10 favor Of It originally, with the
ether plans rejected, ] know OF no other
alternative. 1t is necessary, and being
so, must be adopted. Question by Al
dsrman WRlcOtt.) l will not veto the
ordinance should 1t pass your Board. /
promised you that. / wish to be under
stood. however. / would much nave
preferred the other proposition, made In
good faith. This now is the only solu
tion."
Alderman Moffatt did not Wish tosesm
fractions, but it seems 70 kim this action
Is too hazardous. Oar bonds are out
now In very large amounts. When they
come due they will be found most diff
cult to raise. The report OF the Finance
Committee says our real estate is ncum
hered with mortgages. With due defer.