New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-10-23
nav oRIFANs REPUBLICAN WEDNESDAY, OCTOBER % 1872

for further and sufficient provision for sink,
inc and payment of interest, the Councu
orders that one-fourth Of the revenue from
markets be set aside for the payment OF IN
terest seni-anuually on the first of January
and July, and for the purchase, at times
prescribed by the Council, OF outstanding
certificates from the lowest otere1a TIL the
same are all retired.
SEC. 4. Be it further ordained, etc, mat
it shall be understood between the city ana
the holder of such certi6caFo that the ctt%
shall not be sued or suable thereon untu
the adjournment Of the next regular session ION
of the legislature and in default OF the
same being retired according to the proyl7
sions of this ordinance, or authorized py the
Legislature to be funded upon terms satls-
factory to the holder thereof ,:
On motion of Mr. Walton tie words
bearing eight per cent interest from date
were struck out of the second section.
The third section was also amended so as
to read ''one-fourth of the revenues from
wharves" instead of markets
Thus amended the ordinance was adopted.
Cash Payments.
The following communication was laid
before the Council:
LOUISIANA SAVINGS BANK AND SAFE DEposIT}
Company, New Orleans, October ~ 1917.
To the City Council of New Orleans:
In the month of July last the city OF New
Orleans intTusted this bank with the nego-
tiation of 60 100000 of the new consoh-
dated loan, authorizing it to place the same
on some foreign market, and to dispose OF
the proceeds in accordance with the law.
The bank selected, to represent it abroad,
Mr.. Z. G. Palmer Of this city, who at once
proceeded to London with full power to
act dor the bank. To the present time we
have made good progress, and have reason
to hone that before many months the neg0-
tiatiOn will be accomplished. Bhe de-
pBassed condition of our securities here,
combined with causes we'll known to our
citizens. have 8atarded, buB w5Iba0t deteat,
our object.
Before proceeding further, we believe it
go be necessity to put getty on 60 cash
basis. and to that end will advance from
month to month such amounts as will keep
the Council in funds until the licenses be
come due. To carry this out we submit
herewith an ordinance specifying the
terms of contract, and respectfully and Its
adoption.
plan, weoare, under Providence, largely in
debted to the influential connections and
~
his tac9, perseverance and energy has
| earned che gratitude OF the bank, and OF
'''l '-l' go w. VAN BORDEN,
President louisiana Savings Bank, Biscal
agent atty Of New Orleans.
IN conneceioss witb this communication,
! Mg. CocI6g@Xs ofeye5 she following 0lu'
nance:
: An ordnance o2irecging ehe Gayor 80 make
"A contract svith the Louisiana Savings
| Bank and Safe Deposit Company 60 fur
Qish ceBtain securities and considerations
s.? YOr moneys advanced by Che Louisiana
| Savings Bank and Safe Deposit Company
! as de8cSibe6 herein.
} Be il orsfaineql by the Cognci7 0g The aisy
3 of New Orleans, Chat che Xayq)r Of the
. eitv of New Orleans lie hereby directed &c
! enter INTO 2ofarial contract with che S4oH-
I isiana Savings Bank and Safe Deposit Com
J pany in accordance with she 3es6lSs @$ 8has
J 0rdiBanee, as follows:
! SEcTIos J. girst-Tha9 9he louis3ana Saw
/ ings Bank and Safe Deposit Company shall
] at once commence to pay, on behalf of the
! city. il lawful money OF She United
I; States, 90 3be amount S450,9Os, vaei0us a75i
! dences of Indebtedness of fhe city of New
! Orleans, ISSUED previous to che aiaGa 0$ 6Ais
I ordinance. as follows, namely:
! 3 Sor.istotos ;.s,Sdd 5iT qSa q,oaq2 az
! aoSoo1 ,ii~a"+n.a and nos e,acairahIo 70,
! +sres
3. Tax wacganss Of gae city, receivable
STafSsg,oY;rao Police qyae-aggs.
! The same shall he maid az g?lci,
| face qaiUp and ~ 9he rate ~ NOS
! Iees phau $40 0O ,,as weeIs. eorsyne:q
! mo g,,Temhap 4 at qhe San1z;nr honss
? nf+ba tnI1ioiaaa Eavipge RAM, and safe
! Dannxi+ 6'o1nnanV. and Eoiier sIIcg, yeoula
! +in6s" as sa;G Haniy shall g,rasceiha and thp
said civ "hiiostiona .Hall I've deIigaysd to the
! sdminis+reYS?. of Public Accounts weekly,
; aud Jia .s..aig,e fol,sn th.r.fao s,,1 oeo,T,
nensafios. :ag labor and eyn.9s5e incurred
} saiI Hawk shall he entitled 10 gpceiro ANS
f; ,pr cant og Pho amonns 50 oa;iY oI,+
SeaonaN THAT fos, the .noneh Of Sovaqo.
| hag 49, tha 9o1isiaDa Saving. RanIz an3
I! Sata 0Ae,nS;f ttn,nnanI, sail sdraTca ~ qI,a
90 IN not St5n$inr i:35 tl06 nd
%bS same t.,~ TSnce3nIs,r .Jan5'ars md Eeh.
! r1art. I,rovillaI 4Iar tha v6r,Ie cash in5ehe
f? cITess IF the nitv 81 Sew 6)rjqaI@ ts, +6o
Yonisia"a SayioGs 9anlz and safe Decosi,
610mna0T, iooII3din@ Who Sums aIraagv
| losn.lJ Nv sai,1 hank. shall NOT excaad the
sum ~ 81 30 S}09 which obaI] be the may.
;,nI,,n a,@ms,,,t ~, he atlrsocaf hE sad banI[
Sc . g;Tst-Hgbat snr SOD in consid
aratiou oS ,bs, a+oresaiI loan Of q! so
| 000, ,ba s;oT oS New orleans elops
Z? 6erahr hind ;fsaYFfo isene oo s,,nre ecTtif
J pstes IF Standardization h0nds a. atiGences
90 etH."ts af o1',7 Ii1,3 10 10
! y o-S - AJ 1850 -