Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1869-10-21

The iatIe Rock Railroad stock ny.
poshecssea wish colonel hyperion
for Loan Of $4,000,

Mayor and Aldermen was held atthe City
Hall yesterday afternoon, October 10th,
and the following members were present:
Hon. ~. W. Leftwich, Mayor; Messrs
Chairman Swayne. Clancy, Foley, Joyce,
Marshall, Black, Duff. Cartwright, Dyer,
Hoist, Cicalla, Gallagher, Rsnner, Ogden
Moifst, Vincent, Ellis and Williams, Al
dermen. GA hg.t4
The following communicationwas read
from the Mayor: - ~. ..ss "a, si@ ai
mayors OryIoE. October 20. 1869.
Honorable Board Of Aldermen: - ~
Two propositions are before you for
consideration, the one to sell and the
other to hypothecate the stock owned by
the city 10 the Memphis and Little Rock
railroad. Presuming you have already
determined TO adopt one or the other. /
would advise, in view of our financial
wants, and believing that hypothecatioR
is equivalent to sale, the adoption Of
that which will give us the largest
amount Of money. --.- 90 FtV =
This having been determined, would
next advise the acceptance Of that propo-
sition which gives the most reliable guar
antee that the road will be promptly COM
pleted, and / would accept neither un-
less this guarantee was satisfactory be-
yond contingencies, for we all agree that
the early completion of the road is above
all other considerations. attach but little
importance to who shall own the road
after its completion, believing. as l do,
that the enterprise of our merchants and
business men will control its manage
ment in the interest of Memphis, and thia
is evidently their belief, else they would
come forward and take the stock them
selves, or give the city such aid as would
enable us TO retain il. If, as / think is
most likely, judging from my own con-
ldtion, the cross arguments of rival lob
byists have, for the present, disqualified
You for clear comprehension of your
duty, would advise further postpone
ment, and in that event recommend that
a committee be appointed to thoroughly
examine the books of the railroad COM
pany and report therefrom the exact con-
dition. s 2 sA lay "a
Yours very respectfully, etc $3.50
W.
Received, read and ordered published.
Alderman Mofet's resolution of yester-
day was taken up and adopted.
Alderman Moffet offered the following
Resolred, etc., That the Mayor and
City Attorney borrow fifty thousand dol
lars from Col Epperson on the Memphis
and Little Rock railroad stock. /
IA doutad yes .Aa
Yeas - Foley, Duff. Black. Dyer,
Cartwright, Hoist, O'Donnell, Cicalla,
Wolcott, Moffet and Ellis.
Nsys-Glancy. Marshall, Joyce, Gal
lagher, Ogden, Vincent and Williams.
! Alderman Vincent offered the follow
ing, which was adopted:
( WHEREAS, The city of Memphis has
$572 900 worth Of stock in the Memphis
and Little Rock railroad and lifsiA8A
WHEREAS, The President of said rail-
road has expressed desire that this
Board appoint a committee to inspect
the books and look into the financial con-
dition OF his road, believing that such
examination will result in the vindication
of his management, and an enhancement
of the value of our stock therefore, be IL
7 Resolped, etc, That special COM
nittee of three be appointed, who, with
the City Treasurer, shall make such in
spection and examination, and report to
this Board.
Alderman Over offered the following.
which was adopted a17i Il'H
! Pssolped. etc That w. B. Greenlaw.
.Josenh Lenow and J. p. Russell be and
they are hereby apnointed the trustees TO
renresent the CITY in the contract for a
loan this day authorized to be made with
Colonel Eopersou. and the Mayor is
hereby directed to insert their names in
the desd of trust to be made between the
citv and Colonel Epperson. esal
Alderman Gallagher submitted the
fallowin0 ordnance: f81slT
Re IL ordained, etc-Seetion 1. Any
person except sworn officers of the law,
whose duty it is to preserve the peace,
upon conviction of having carried, on or
about his person, any concealed weapon,
calculated to destroy human life, within
the city of Memphis, shall be fined in not
less than fifty dollars, a,
SEQ. 2. Upon conviction OF any person
Of having carried, on or about bis per-
son, any concealed weapon calculated to
destroy human life, the Police Commits
sioner or City Recorder, before whom the
offender is convicted, shall be held to
bail TO answer sad charge befere the Mu-
nicipal Court Of Memphis, and said Com
missioner or Recorder shall reduce the
evidence to writing, certify the same, to-
gether with the name and residence of
each witness to said court
Passed first reading and referred to Or
dinance Committee.
Alderman Gallagher also offered the
following, WHICH was laid on the table:
Rssolped. cic, That the fifty thousand
dollars TO be received from y. 81. Upper