New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-04-24
CITY couNcIL--oFFIcIAL
SPECIAL Sc SION.

A special meeting of the Council Wa
4 called by the Mayor for this evening.
At seven O'Clock Mayor Flanders took tn
chair, and the Secretary called the roll
Present: Administrators Shaw, Delassiz
and Walten.
Absent: Administrators West, Emley ans
Pierce.
Adjournment for ten minutes. Rol
called.
Present: B. F. Flanders, Mayor; Admins
traitors West Shaw, Delassize, Emley
Pierce and Walton.
The reading of the minutes of the last
meeting was pensed with.
Administrator Walton presented the Gre
dentials of Mr.. Hubert Bouzano, appointed
by Governor Warmoth Administrator OF
Assessments in the place of Mr.. d. B. Ma
carly, resigned.
The Mayor appointed Administrators
FINLEY and Delassize committee to exam
inc the credentials of Mr.. Bonzano.
Mr.. Emley reported the credentials cor
rect, and Mr.. Bonzano took his seat as Ad
ministrator of Assessments. and answered to
the roll call.
The jackson ESnilroad Stock.
Administrator Walton (Finance) said, at 8
recent meeting reported the cash in the
account of Mr.. w. s. Mount, late Treasurer,
apparently some three hundred thousand dol
lars short, arising from the attempted sale of
the city shares in the jackson railroad.
have since been officially informed that this
amount has been placed in the Louisiana
National Bank, subject to the order of the
city, and can be obtained at any time.
Mayor Flanders: On the subject of this
communication, which has been made by the
Administrator of Finance, / beg permission
to make a brief statement. The Council, at
its first meeting, Immediately after its or
ganization, passed resolution directing the
City Attorney to take measures to protect the
Interests of the city in the matter of the
attempted sale by the late Council of the
city's Jackson Railroad stock. Since that
time the question has become involved moro
and more deeply in litigation, and at last
has reached point of complication viii Oh
may result in the entire loss of the stock to
the city. It therefore becomes necessary at
this time, for the Council to consider ma
surely and carefully what wisdom dictates
they should do in the matter.
The annual election of directors of the
Jackson Railroad was to have been held
last Monday, but was prevented by an n
junction sued out in the Eighth District
Court On Monday next the election will
take place, unless prevented by another in
junction. and that election will be valid I'M
der the charter, whatever number of shares
may be repres ented.
A suit has been instituted in the United
States District Court to declare the railroad !
company bankrupt, which suit if su ccess- |
full, will render worthless the shares belong. |
ing to the city of New Orleans. This is the |
first danger.
1t is also known that dissatisfaction has |
existed for a considerable length of time in |
the State of Mississippi on account of the |
non-fulfillment by the Jackson Railroad |
Company of their terms of the charter requir-
ing them to extend the road to Aberdeen, in |
that State; and I have it from the Governor
OF the State himself Governor Alcorn) |
that if the present management
uoO eAS WIN uldhhSC1CAL t-uNiScull-
is to be continued for another year, so I'm.
satisfactory is it to the people of Mississippi
that the Governor will recon mend to the
Legislature Of that State that steps be taken
to forfeit the charter of the company in
Mississippi. This course, if taken, will
leave the railroad with only about eighty
miles of road, and that in Louisiana There
is no doubt that the recommendation of
Governor Alcorn would he Immediately fol-
lowed by corresponding action on the part
of the Legislature, and if that should take
place the stock of the city of New Orleans
in the Jackson railroad would also become
worthless. This is the second danger.
Taxing these facts into consideration, in |
connection with the complicated and appa-
rently endless litigation in which the whole
question has become involved, it seems to
me it does become the Administrators of
this city to deliberate gravely whether they
should accept or not the sale, however ir- |
regular it may have been, which was at
tempted by the late Council and take what
they can get, rather than hold On to their :
stock until it becomes like their stock in the {
Opelousas Railroad-utterly worthless.
recommend nothing. l only say that as t
practical men we have to consider the mat |
Ger, and consider it carefully with the best '
lights we have before us. For my part, as |
have said, l do lot know what advice 70 g
give, but think it my duty to bring the !
matter in this form before the Council for =
their action. '
Administrator Emley, tCommerce) In q :
view of what the Mayor has said, and es- t
teeming this matter of high importance, I
move that the whole subject be referred
to committee to be composed of his Honor {
the Mayor and the Administrator of FL
nance, (Mr. Walton), for consideration, and
report at our next meeting.
Administrator Shaw (Accounts) moved
IN amendment that the Administrator :
Of Commerce (Mr. Emley) be added to the .
Carried f
On the motion of Administrator West
Llmproyements), the committee was in. q
structed to report at special meeting of 7
the Council to be held to morrow evening. l
The Floating Ind. bteaness. e
On the Mayor calling for reports from the 8
in due course of business,
Mr.. Shaw moved that the regular order
If business be suspended in order to take
Up the unfinished business Of the last meet.
ng.
Aoreed N