Wilmington daily commercial., 1873-04-18
CityCouucil.

PROCEEDINGS, Last EvENING-THE FINANCIAL yx
HIBIr-MAcADAMIzSe 4 H sTREET-PRoPosALz
loR CITY WORK RK-MIscELLANEoUs BUSINESS.
There was all unusually large attendance by
the members OF Council last evening, Mr.. Mem
dinhall alone being absent. Mr. Quinn wa
made chairman, but President Maris soon ap-
peared and relieved that gentleman
The Finance Committee. in conformity TO a
resolution adopted al last meeting, submitted
the following report VI the financial condition OF
he city
Funded delt Of the city to
date az per certificate. is-
tued pilur TO Jan. lst, 1873, SOB, $50
Certificates OF Indebtedness
issued since Jan. lst, 1873 $3.50
Deduct funded debt paid since
Jan. lst Is73.............. s96
Total funded debt Of city to date s63C. s04
The floating debt of the city is as follows:
Three notes of $4,000 each
discounted in UnionBankS60 900 90
Note held by Rev. z. Kelley 100000
25OO.0O
2 500 90
Eli Burnite 10000
All. Harvey l.s24.OO
+" Eph Bowing l,73l 10
0Yerdrawn IL Bank ........ l6,031.07
Total funded and floating
debt to date. e.....s........ 1921. So so
Mr.. Hayes, the author OF the resolution. ex-
Pressed his satisfaction with the report as it
had brought out the facts desired. He, how
ever, could not approve Of the policy which had
been pursued By the chairman Of the Finance
Committee IN oEerdraWiug the S1G 600 from the
bank, as such authority was not given in the
charter. II necessity existed for the borrowing
Of the money, the matter should have been
brought up III Council and received its sanction.
MI. Feb!ger did not think the statement of
tue funded debt true ole, as the amount on
hand in the Sinking Fund, some $50 600 or 500
OOO was not included in the statement
Mr. Piekels explained that S66 600 Of the cit V
debt had already been paid out of the Sinking
Fund, ard insisted that the statement was cor
rect. He said further that $4,000 were now
paid into the hands Of the Commissioners of the
Sinking Fund, annually. and that this amount.
with the S6O OOO to $4,000 interest which is
now expended IN buying bonds If applied to the
liquidation OF the City Debt, without anv fur
ther expansion, it would work the total extinction
OF the debt in twenty Years
The report OF the Finance Committee was
then accepted.
The Street Committee reported Adversely nm
on the grading curbing and paving Of the East
side OF Wilson street, from 9Th to 10th for the
reason that the street does not belong to the
city. Accepted
FaVorably on petition for sidewalks on the
IL
Accepted.
FaYorably upon curbing and paying'the gutter
on the North side Of Il street. but adversely az 10
Snitcher's alley. Accepted.
Also, tayorably upon petition for the tile
drain in King street, from 9Th to 7th. Aceep-
ted.
The Committee recommended that the con-
tract for macadamizing 4th street be given to
Qui5ley y Neall and authority was given it to
make such contract and to hire or purchase the
necessary machinery for the performance of
the work.
The Street Commissioner reported 80 men in
his employ.
The Water Committee reported fayorably on
the extension Of the water pipes on Chestnut St
from Van Buren to HARRISON provided the right
ed.
fayorably for an extension OF water pipes on
Walnut street, to Pusey and Rce's stables, be-
twen l4th and 10Th, Accepted.
The Chief Engineer reported II men employed
in the Water Department
The Committee on Public Buildings submitted
communication from the City Market House
Co., offering to pay all expenses for an inquiry
into the title to the Second street market house.
and tho City Solicitor was requested to make the
search.
The Committee on Law stated that tbe ordi.
nances authorizing the Finance Committee 10
borrow money to fund the city debt and for tho
erection OF City Hospital were in conformity V
with the requirements of the charter. Accepted.
The ordinances passed, unanimously.
Mr., Candy could see no reason for the reten-
tion Of the special Committee on the Widening
of Water street, as the remainder of the work