The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1874-05-13
Report of the Committee ON Finance
ON the State of the Finances of tlhs

Report Of the Committee ON Finance
ON the state of the Finances of the
City.
To the Common Council of the City o.
Richmond:
Mr.. PREsIDENT--The Committee
on Finance in submitting this their
final report on financial affairs for the
year, ending with this meeting of the
Council, can congratulate the Council
and the people on the healthy state OF
the finances of the city.
The committee have examined the
Mayors books, returns and vouchers,
and find them correct. The Mayor s
returns are up to the quarter ending
with March, 1874, being a little over
ten and half months of his admins
tration, that is, from the 10Th of May,
1873, to the LIST April, 1874, and it may
be interesting in this connection to
state that the whole number of cases
disposed Of in the Mayors court in
that period was 500, against 452 in the
same time the year before. This may
signify either greater prevalence of
crime. or more efficient execution of
the laws, or perhaps both. During the
paid over 1,2S2 dollars and 81 cents;
anu VI snlS SUM A,o1S uOIidIs anu cs
cents were paid into the City Treasury
of the Friendless. Beside this 270
there were 25 dollars collected by the
late Mayor Poe that were, by the
terms of the law, paid to the Home,
making an aggregate of 295 dollars that
has been paid to the Home under the
first years operation of the law Of
Feb. 26, 1873, giving to the Home all
the fines adjudged against violation of
the ordinances in relation to prostitu-
ton and houses of ll-fame, and
gambling houses, the keepers and fire.
quenters thereof.
The committee have, also, examined
the Treasurer's books and reports and
compared them with the Clerks ac-
count, and find them satisfactory.
In attempting to collect taxes for
city purposes on the value of the shares
of the capital stock of the banks doing
business in this city, it became neces-
sary to have the question Of the legal
right of the city to collect such taxes,
decided by the courts. An agreement
was accordingly, submitted to the Cir
cult Court during the late term, aud
before the term closed Judge Kibbey
gave decision adverse to the city.
There is now; however, abundant rea-
son to believe that the Supreme Court
of the State, to which the case has
been appealed by the city, will reverse
this decision, and sustain the city au-
thorities in their efforts to collect the
tax. Meanwhile the special certificate
of deposit given by each of the banks
in the city covering the amount of tax
es assessed against its stockholders,
remains on deposit with the City
Treasurer, to be paid when the Su-
preme Court shall have decided that
the tax has been legally assessed
BY referring to the reports of the
Clerk aud Treasurer, it will be seen
that the cash in the several sinking
funds is as follows, to-wit:
In the Railroad Bond Sinking Fund s3,3I1 Is
In1he ist Funding Bond sinking
ruhu i, ,SlS -
In the ID Funding Bond sinking
In the Depot Bond sinking Fund. 252 s,
lottl------.----. ...--sS,foa Oh
From time to time money belong
ing to the City Funding Funds has
been invested in bonds at such rates