The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1874-12-16
CITY Affairs.

An adjourned meeting of the Board OF Mayo
| and Aldermen was held last evening to conside
the order relating to the purchase OF Gait
Wharf.
The order was taken from the table, ant
Alderman Smith offered an amendment reac
ing as follows:
Provided, That no contract be consummate'
between tn g city and either of the partie
named until the city is authorized by the Legs
lature to hold real estate of sufficient amouh'
in addition to the property already held by the
city to cover said purchase.
The amendment was adopted
N reply to questions the Mayor said that Il
the city should purchase the property and issue
twenty year bonds, the amount In the sinking
fund would exceed the payments by abou
$4,000. 1t is by the investment of the annua
prepaid rrincipalthat the sinking fund accumu,
lates. He did not understand that the Grand
Trunk expected rigid adherence to the words
of the order, though the o;der embodied their
views. The improvements can not be taxed
AS the property is now taxed at $4,000, and
the elevator to be erected is valued at $7O,O0O
the city loses nothing in taxes
Alderman Smith offered another am end
ment, as follows;
To strike from the original order the words
'to be not less than one-thirtieth the amount OF
the principal of the bonds to be issued. and
insert in lieu thereof the words, said pay
ments shall be sufficient in amount to reimburse
the city at the end of thirty years for whatever
sums the city shall have paid out on account OF
said property and interest,"
The amendment was adopted.
Alderman Smith expressed his opposition in
general to schemes of this nature, and ex-
pressed the conviction that municipal govern
ments would do well to content themselves by
attending strictly to matters coming within the
scope of their charters, viz, the security of
person and property, the care of the streets,
maintenance of schools etc. He was satisfied,
however, that majority of those he repre-
sented were in favor of the project, and should
vote for the order as amended.
Alderman Gerrsh favored the passage of the
amended order, believing the majority of the
property in favor of it.
Alderman Smith thought the doctrine dan
gerous one. The majority of property should
rule in voting money for purposes strictly
municipal. but when money was voted for pur-
poses not strictly municipal, the majority of
property should not alone be consulted.
In reply to questions the Mayor said that the
excavation in the slip would only be of suf6-
cient depth to accommodate ocean steamships,
and that the last amendment to the order
covered all expenses which the city might III
cur in the matter.
The question was then called for, and the
order, as amended, was passed by vote of five
yeas and two nays, Aldermen Sampson and
Clark voting in the negative.
The order as amended and adopted reads as
follows:
Crdered-That the joint standing committee
on wharf accommodations be continued, and
they are hereby authorized and directed to ne
gotiate for the purchase, for and in the name
of the city of Portland, the property of the
Portland Grain and Warehouse Company for a
city wharf, the purchase to include the wharf,
buildings, foundations and dock room known
as Galt's wharf situated on the south 'rly side
of Commercial street, and lying between At
lantic wharf on the east, andliFranklln wharf
and Thames street on the west side, and to re-
pair and to rebuild said wharf and to dredge
around it, to obtain a suitable depth of water
as may be required in the judgment OF the
committee, at an estimated cost not to exceed
one hundred and thirty thousand dollars $780,
OO0.) The City Treasurer, be and he is hereby
authorized to hire on the credit of the city
from time to time, as moy be required for this
purpose, sum not to exceed one hundred and
thirty thousand dollars ($130,00O) and to issue
city of Portland six per cent. not exceeding
thirty year coupon bonds, interest payable
semi-annually in payment thereof. The COM
mittee may designate and retain such portion
of the city wharf and dock hereby purchased,
as may seem to them to be proper and required
for municipal purposes, for landing curbstone,
paving blocks, Sc, Sc, and they are hereby
authorized and empowered to negotiate for the
lease of that portion of property unOccupied by
the city to the Grand Trunk Railroad giving in
said lease the right for said company to pur-
chase the property, by making. thirty (3O) an
nual payments into sinking fund to be estab-
lished by the ci y, said payments shall be suf-
ficent in amount to reimburse the city at the
end of thirty years for whatever sums the city
shall have paid out on account of said property
and interest, and is to be held, controlled and
invested in like manner as the other sinking
funds belonging to the city, the proceeds of the
same to be applied first to the payment of the
principal of the bonds issued under this order,
second, toward the reimbursement of the city
for interest paid on account of the above bonds;
provided that no contract be consummated be-
tween the city and either of said parties named
until the city is authorized by the Legislature
to hold real estate of sufficient amount in addi-
ton to the property already held by the city to
cover said purchase.
The petition of B. G. Drinkwater for per-
mission to erect fish market at 274 Congress
street, was referred to the committee on health
with power Adjourned