New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-11-12

lsbe tho amount Of Interest," T. rs i p1iii
upon her bonds until the company begins to
pay dividends, which, psesu4e, win be
| commenced a. soon as the road 70 COM
pleted from here to Texas. rciterate what
said before, that ann in favor Of al leg
islation looking to the development Of the
State by the cleaning ont Of bayous and
| ton Of levees and the building Of railroads.
believe that it is sound political wisdom
to advocate all such measures, and that,
unless we inaugurate and encourage such
schemes for internal improvement as will
tend to increase the resources Of the State,
we are derelict in our duty to the people We
represent. ! now move that the bill be
adopted on its second reading, and call for
the previous question. .a5l s
LIZ The main question was ordered, and the
bill adopted on its second reading.
Mr.. AcMillen moved that the rules be
suspended to place the bill on its third
reading. Hg ~ ~
On that motion. -tf Sol. -a
Mr.. Pierce desired to explain his vote.
He said he had understood that the bill be-
fore the Senate had passed the House of
not understand why it should be rushed
through in the hasty manner proposed. He
had NO objection to urge to the merits of
the bill at the present time, but he had
never heard of it until the discussion upon
1t arose, and perhaps there might be some
Questionable features in it w4ish might be
disclosed upon careful investigation He
should vote against suspension of the
rules, in order that he might have an Oh.
portunity to examine into the matter.
The rules were not suspended, and the
bill was made the special order Of the day
for to morrow ct one o'clock. ~
CRESCENT CITY wATERwORKs.
On an alpha betical call Of the roll. Mr.,
holland called up House bill No. go, to in
corporate the Crescent City WaterwOrks
Company, and moved that it be adopted on
it's second reading.
Mr.. Pierce: wish to make statement in
reference to this bill About two years ago
the city bought that part of the Waterworks
which they did not own before, for which it
paid one million two hundred and thirty
thousand dollars. do not know the exact
provisions Of this bill, but certainly think
it is the duty Of the city delegation to show
their constituents that they are making q
good bargain for them in the sale of these
WaterwOrks. / can not vote for the bill
unless l am convinced that the city is not
to suffer bv the sale.
Mr.. Lewis: One of the duties that the
city delegation should attend to is that of
providing the city with water for the pur-
pose OF putting out fires. The present city
waterw0rks have not done 90. More than BALI
Of the city Of New Orleans has nothing but
cisterns to depend upon, and in many
instances property is lost by fire on
account of there not being any water in the
vicinity to put it out. Fire engines are rem
dered entirely useless from the want of the
most necessary material to work with. This
bill proposes to remedy all those defects. 1
now move its adoption and call for the pre-
viOus question. ,l.
The main question was ordered and the
bill was adopted on it's second reading.
Mr.. holland moved to suspend the rules
to place the bill on its third reading.
Mr.. Fish: | intended to offer an amend
ment to this bill before it was too late, but
the call for the previous question prevented
me from doing go. This measure, as it
stands at present. proposes to take away
from the city of New Orleans certain prop
erty for which it has paid over two millions
of dollars by the issuance of its bonds.
When this corporation was formed the city
took stock in it to the extent of about six
millions dollars and issued it's bonds in pay
ment therefor. A portion of those bonds
have been redeemed, but upward of three
hundred thousand dollars worth of them
are still outstanding, and the city is paying
the interest upon them, and will be obliged
to pay the principal in 1874. In addition to
that amount Of bonds, the city bought
according to the provisions of the act incor-
porating the City Waterworks Company,
the interest of the Commercial Bank in
those works, for which it issued it's bonds
for 81 ,393.40O, which are yet outstanding,
and on which the city is paying interest
This bill proposes to take property from
the city worth at least three million dollars
without any compensation whatever. Since
they have purchased these waterwOrks they
have bought besides, and have ON hand
now, material worth half million or
more of dollars; and yet the only compensa-
ton that it is proposed to give the city is to
Orleans on the d1s o at three San
bred thousand dollars. Three hundred
thousand dollars for property worth more
than three million dollars! Now. gentlemen
OF the Senate, suppose You pass this bill,
and it becomes a law by the sigma
ture Of the Governor, what effect
will it have !! There is no court
in this State or in the United States
to which You can appeal that will sustain
You in the position which You have taken.
leans its private property without compen-
sation any more than you can from pri-
vate individual. If You pass this bill, you
pass nullity. You might legally pass such
q bill as that introduced in the early part of
the session by SeDator Campbell, and re-
ported upon favorably by the city dele
CATION. but you have no right to take away
the property of the city by force, and when
you attempt to do SO you will fail as sig
1aIly as the Ship Island Canal Company
did. 1t will cause expensive litigation on
the part of these incorporators and the city,
and the result will be fruitless. hope the
rules will not be suspended.
The bill finally passed.