New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-02

1
! mendation. We add to the roll Of honor
the names Of the Louisiana State, Home,
Pelican, and Atlantic, and risk nothing in
saying that all parties interested in these
| companies viii heartily applaud their con-
duct in this matter The amount Of in
debtedness Cancelled in IL ese instances by
the Firemen's Charitable Association is
some $780,
Slaughterhouse was hardly as strong
yesterday as the day before. ST. 25 was
| asked for the stock against SIG SO bid.
There is no doubt as to the fact that the
stock can go a good deal higher on its
present merits, but the time has not ar
rived for an extensive paying business on
rise. eco shares Of levee We're offered
at 81 %. shares of Mexican Gulf
Canal were reported sold at S2lO, and
5000 in old levee warrants at So.
Quite an excitement exists about police
headquarters and the State Auditors
office, by the discovery of counterfeit
coupons upon State bonds in the hands of
the Auditor, that had been paid in the
regular course of business A full report
| of particulars appears i'll another part Of
to-day's REPUBLICAN. There is nothing
developed to throw the least discredit
| upon State bonds, the counterfeiters hav-
ing limited their copying to the coupons
Of the printed SERIES but the affair is a
serious one for the Auditor and the
State.
The Mexican Gulf Canal Company is
progressing well. The company has been
notified by the managers of the Alliance,
Morgan and Lake Shore lines Of steam
ships, that they will send their vessels
through the canal as soon as it is COM
pleted By the first Of January, President
Noyes says, schooners, barges and light
draft steamers will be able to make use OF
the canal, and, within four months after
that date, the lock is expected to be COM
pleted, and the canal opened to the pas
sage Of large vessels. The work can not
be done too soon for the interests Of com
merce.
Mayor Flanders and Administrator
Walton We're engaged all day yesterday
signing the Endorsed assignments for new
bonds ordered. This shows renewed &C.
tivity in the exchange for bank certifi-
Gates. There is much discussion as TO
what should be done about the surplus
certificates. 1t is clear there will be some
one hundred and twenty thousand dollars
over and above the bonds, even if the lat
ter be all absorbed at the present rate Of
exchange (S2D. 1t is urged by some OF
| the holders that the accrued interest should
be declared payable semi-annually, be-
ginning on the first Of December, and
that the Legislature should be applied to
for a, million additional bonds, which
would more than cover the surplus float
| ing debt certificates, the seven-thirties AID
the ten per cent bonds, now past due.
Administrator Walton offered an Or
dinance on Tuesday evening providing
that the proceeds Of Sherif7s executions
and collections Of taxes be divided and
assigned to the several funds (consoli-
dated, railroad, million loan, and current
expense). This is a move in the right d.
rection, and shows a disposition on tie
part of the administration to carry out
the laws-a refreshing thing after their
constant and repeated violations by pre-
vious Councils.
The question is sometimes asked, why
so small call as fifty thousand dollars is
made for consolidated bonds after so
large a collection Of taxes. We have not
the materials at hand to make a concputa-
ton, but We venture to say that the fall
amount Of the city taxes reserved by law
for the payment ofinterest on consolidated
bonds, and the investment Of surplus in
the bonds themselves, have been properly
set apart and disposed Of. It must be
recollected that there was large arreage
of interest coupons (some hundreds Of
thousands Of dollars past due when the
administration went into Office; also, that
there is large amount Of interest due
between now and the first Of January, all
of which has to be estimated and allowed
for, and it does not allow large margin
for purchase Of bonds. Sixty-twO cents
ont of the dollar and half Of the tax on
real estate (and nothing on personal
property tax are set apart for consolidated
bond purposes, the rest must go to rail-
road, million loan, interest on the three
million issue, interest on other forms Of
debt and general expenses.
The following directors Of the "Teu-
tonia National Bank" have qualified be-
fore Mr.. Notary Cohn: Rudolph Sieg,
Auguste Koenig, Simon Hernsheim
Nicholas Miller, Meyer Stern, Charles
Bendix, J. K c. Portman, Emanuel
Forsheimer, Alfred Shaw, C. H. thinner
mann, Hermann Pohlmann.
Nh Rudolph Sieg has been elected
president, and Charles Bendix cashier,
! pro tenn.