New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-01

James Lewis, Louis Schneider anu ~
| Turnhull. , Vt Cor-
On motion of Mr.. Schneider, MIR. ID. Con-
orest Clarke was appointed TO act as seero-
tarv pro TEN.
| The Fiscal Agency.
The Mayor LAID before the Council the
following communication:
| LOUISIANA SAVINGS BANK AND
| Safe Deposit Company, I
New OIleaus, Dece Roer u, Io'E''
| Hon. L. a. Wilt. Mayor:
| In accordance with understanding ha1
| between the committee of the Councll anu
| this bank, we hereby beg leave 10 VohuoI
| our reslgna; ion as Fiscal Agent OF !he elty
| of New Orleans, to take effect on the eI9S
| +ion and qualification Of our successor. we
| also consent TO the abrogation OF ali con
| tracts existing between the clty OF Ne"
| Orleans and this bank i'll SO iar as future
| operations are concerned.
W. VAN NORDEN, President.
! On motion of Mr. Brewster the resigna-
,ion was accepted. and the Council went
into an election for Fiscal Agent
Mr.. Schneider nominated j. Ii. Ogiesoy'
president Of the Louisiana National 0"hk'
as Fiscal Agent
Mr.. Calhoun suggested that the law re-
o,ired a hank TO be nominated and rot an
individual.
| Mr.. Schneider accepted the amendment
| and nominated the Louisiana NauohaI
| Bank.
The nominations were closed, and, on
| call of the roll, the Louisiana National BANK
was unanimously elected Fiscal Agent OF
the city of New Orleans.
Mr. Schneider reported that The commit
tee which had been appointed at an IN
formal meeting of the Counc.] il the May
or's parlor had got through with their
labors. They had considered the financial
difficulties of the city, and had entered into
an arrangement by which the Louisiana
| Savings Bank and Safe Deposit Company
| resigned their Office as Fiscal Agent, and
had selected a new Fiscal Agent. In con-
. nection Herewith there were four or i've
| other banks which undertook to back the
| fiscal agency in assisting the city out OF Its
| financial difficulties. 1t was proposed, #
the holders OF certificates did Eot worry
and trouble the city, to take up these GER
tiicates as the city had promised TO do;
and the Council proposed, if allowed to do
SO, to start from the first of January, and
pay all their contracts, wages and salaries
in cash. He offered the following ordi-
nance:
WHEREAS, The Louisiana Savings Bank
and Safe Deposit Company has resigned the
fiscal agency of the city of New Orleans,
and the Louisiana National Bank has been
elected Fiscal Agent, in place and stead OF
the Louisiana Savings Bank and Safe De-
post Company;
Nv
and Administrators of the city of New
Orleans, That the Louisiana Savings Bank
| and Sale Deposit Company do turn over,
| without delay, to the Louisiana National
Bank, the interest funds, and any and all
| funds. assets. securities, books, papers,
| property and effects belonging 10 the city
of New Orleans, or held in the name Of said
| city in trust, now il the hands or under the
| control OF the Louisiana Savings Bank and
| Safe Deposit Company.
SEC :. Be IL further ordained, etc, That
the Louisiana National Bank do pay to the
! Louisiana Savings Bank and Safe Deposit
| Company the sum of $652, $50 80, the receipt
| thereof, by the Louisiana Savings Bank and
| Safe Deposit Company, to be in full of all
| claims, dues and demands of every kind,
name and nature held by the company last
aforesaid against the city of New Orleans.
SEC. ). BE 1t further ordained, etc, That
IN consideration of the payment aforesaid
| the Louisiana Savings Bank and Safe De
| post Company SHAH consent 10 the abro-
! CATION and repeal OF all laws ordinances,
| resolutions, contracts, agreements, trans
| actions and arrangements heretofore and
| at any time prior to the passage of this or
dinance had or made by and between the
! city OF New Orleans and the Louisiana
| Savings Bank and Safe Deposit COMPANY
| such consent to the abrogation and repeal
| aforesaid being considered as given and
| evidenced. not only by the simple receipt
of he -
Louisiana Savings Bank and Safe Deposit
company, IL any way or manner, under
this ordinance.
SEC. 4. Be it fur her ordained. etc. That
tins ordinance shall take effect Fl ON and
after its passage.
The yeas and nays were called, and The
ordinance was unanimously adopted
Mr.. Calhoun moved TO reconsider the mo-
ton by which the ordinance had just been
adopted.
Mr.. Lewis moved to lay that molten on
the table.
1eas-Fitzenreiter Calhoun. Lewis-3.
Nays--Brewster Schneider, TurnbulI-3.
The Mayor gave the casting vote il the
Affirmative, and declared the motion to ia
bic the motion to reconsider carried
Nr Calhoun expressed an opinion that
some OF the Administrators had voted net
rightly understanding the question.
The Mayor stated that the cscal agency
would have lad 10 pay TO morrow $I57 geo
for interest falling due. and very properly
wanted 70 he assured that the Council
would net Al is next meeting evoke or re-
consider the contract entered mo a, his
meeting.
Nj. Schneider asked and obtained leave
20 change lis vote on the motion 70 table
the motion 20 reconsider fren nay 70 yea.
The Council then, on motion - Mr.. Lewis
took recess suhiec. 70 lie cal Of the
Mayor.
II. CONQUEST CLARKE.
Secretary pro TEN,