The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-06-29

some seven or eight years, during which
time the water rents did not pay CURRENT
expenses. In 1885, intending to remove
from Columbia, certain persons offered
to purchase the works from him, and
he believed that he could make
to them sale more advantageous to
himself than to the Town Council, he
offered them to the latter, alleging that
no individual should have the monopoly
of the hydrant water of the town. The
contract was closed for S24. 900. at twenty
years. bearing only five per cont, the
works to be pat in complete repair,
which he did. at cost of over So. 600,
thus reducing the price in fact to
s21. 600, which, if brought to legal in
terest, corpus would be but $l5. 600.
He, therefore, received only SIS, 900, for
what he had paid but seven years before
over $40, 900, and this not because OF any
deterioration In the works, or that they
were not prime necessity, but because
he believed the town was not in condi-
ton to pay more, and that the corpora
ton alone should have the control of
them. 1t was almost gilt TO the cor.
poration. or the original amount of
$24, 600, some $1,000 or $4,000 had to
be sacrificed, latter my fathers death, I
believe, to meet the balance Of the debt
contracted by him for the water works
and repairs. The city never redeemed
any part of the debt that ever hoard of,
except $500. in 1849, at which time
Council expressed determination to re-
deem the whole at maturity. I now
hold four OF the certificates of indebted
ness, to wit: two for IS, 900 each, and one
for 50, 900. ald one for $1,000; aggre-
eating $685. The shape Of the secu-
rites are such that they are not negotia-
bic IN the market, and thus the corpus
OF the debt is rendered valueless to the
heirs of my father, and the result of the
war have brought us to the same condi-
ton with the rest OF our fellow citizens.
unable to hold Investments, but COM
peiled to live upon what little OF capital
may be left.
I will not advert to the difference of
opinion which exists in the best legal
minds OF our State and elsewhere, as to
the true construction of the contract,
nor to the difference Of circumstances in
which your honorable body stands, and
those OF the Council of year 1856,
eighteen years ago. when the Supreme
Court decided that the latter had "a
discretion as to time to redeem or REIN.
burse the principal of the debt for the
water works, nor to the opposite OPT
mon of the Supreme Court of Maino,
holding debt in tofidsm rerJis TO be re.
deemable instAnter, nor to the difference
OF relations Of debtor and creditor. But
feel confident that, considering the
whole matter in spirit of fairness and
justice and equity, your honorable body
Will exercise that discretion 80 as to fix o
time at which the debt will be redeemed,
u I b 4
raj concurrence and wish OF the citizens
OF Columbia. l, therefore, respectfully
propose to accept for the scrip now held
by me Sl3,5O0 of seven per cent. city
bonds, payable at twenty years, or as
much sooner as you may desire. July
dividend not included) When these
bonds mature, the city will have had
nearly sixty years to redeem the prinoi-
pal-!onger than the longest time fixed
by the Government to redeem the i'm
mense war debt. remain. gentlemen,
very respectfully, your obedient servant,
JAMES D. BLANDING.
SUMTER, s. c., June %, 1873.
Proposals for furnishing medicines for
the year ending June 1, 1874, to .ho
Aims House, Hospital and INDECENT poor,
we're received from Messrs. L. r. Sill.
man and e. II. Heinitsh, which, after
much discussion, on motion of Alderman
Carroll, it was
Resolceel That the bids bo returned to
tho above-named parties. requesting them
to make propositions of more definite
nature.
Bids were received from tho following
named parties for whitewashing Sidney
Park fence: Isaac Wells, j. Coulter,
Elias Johnson, John Adkins and Richard
Dinkins. The contract was awarded to
the last named, being the lowest bidder,
at S35.
On motion OF Alderman Mitchell, it
was
Resolrel. That the Committee on Sid
neJ Park 10 instructed to have the gates
and fence around the Park repaired.
Bids were also received from the fol.
lowing named parties to lathe and plaster
the new Phenix Hook and Ladder Com.
pany's house: Messrs. G.. ". Cooper
and p. W. Forester.
On motion of Alderman Thompson,
the same was received as information.
Proposals for tho erection of an Aims
House and Hospital were received, and,
on motion Of Alderman Thompson, the
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