Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1874-04-02

C6eu6O 10 t16 IfduSacLlOH OI UuSiuSSSs
COMMUNICATION FROM TIE MAYOR.
The vetoes of the mayor were re.
eeived in relation to q resolution
advertising for bids to feed prison
ers, an ordinance giving two feet
to peanut-stands, resolution instructing
the city engineer to Teisy certain
/ piank-walks, resolution authorizing the
/ mayor to prefer fremen and certain
other employees of the city in paying
! salaries from borrowed money.
/ The motion to receive the veto of the
resolution for preferred payments OF
back salaries to firemen, policemen me-
chauics and IaboTers was defeated by a
two-thirds vote, the vote standing fif-
teen against three for the motion. The
veto, therefore, remains in full force, al
though the council voted not to receive
it. For particulars see Parliamentary
Manual.
The next business Was the discussion
Of aorder," and calling previous ques-
tions, Mr.. Harvey holdiag colloquial
conversation with the chairman, whom
he interrogated. Things became mixed
at this point. After an uninteresting
delay, the question of awarding the
contract for shoeing the horses of the
fire department was referred TO a special
joint committee, Roush, keck and Kel-
ly being appointed by the counciL
MISCELLANEOUS BUSINESS.
The mayor and city attorneys recon-
mendation that the council refuse to
grant the petition of Ealstead to COM
promise back taxes, was received and
concurred in.
SINKING FUND COMMISSIONERS.
The undersigned, appointed sinking
fund commissioners under and by virtue
of the act passed June 25, 1872, and ap-
proved by Mayor John Johnson June
%, 1872, respectfully represent:
That the late ordinances o. your honor
able board approved March II, 1874,
amending the original fund ordinance,
so entirely changes the spirit Of the let
ter under which they were appointed
and consented to serve as your sinking
fund commissioners, that they feel con-
strained to respectfully tender to you
their resignation, to take effect after
their books and papers have been ex-
amined by the proper committee and
found correct. A proper respect for you
and for the opinions of cur fsllow-citi-
zens impels US to state some of the
reasons for this action. Under the origin
al ordinance it became the duty of the
sinking fund commissioners to imme-
diately invest the money received in
bond or bonds rot yet nldttred
at the lowest price az which the same
can be purchased. See section s. This
gave your commissioners the advantage
of buying any class Of bonds not ma
tured out of the whole amount of bonds
outstanding, and apprOximating 81, ,OOO,-
600. 1t also enabled them to buy in for
the benefit of the heavily b,rdened TAX
payers st something near the rate which
the city originally realized for the same
when they were issued. TIC illustrate:
We have received, since we held Office,
from the taX-collector S5E, ,69l 55. With
this sum we have retired in long bonds
Sis so. The new ordinance radically
changes all that, and REQUIRES the COM
missiOners to buy first only certain
class of bonds, namely. those already
matured. This will put it very easily
within the power of faW eapi-
the natured or early maturing
force your commissioners to gay par for
bonds for which the city originally re-
allied certainly not over fifty cents in the
dollar, and possibly greatly less. Again,
your new ordinance radically differs
from the original in this, namely, that
whilst the latter makes it the duty of
the commissioners to at once invest the
funds coming into their hands in bonds,
thereby stopping interest from that
amount for the benefit OF the tax-pay-
ers, the former requires that the funds
shall be idle in the hands OF the CON-
missiOners until - dollars accumu-
late, then to advertise from one week,
and then after twenty days to buy in the
matured bonds. See section four hum
dred and forty-six of tie ordinance.
Quite radical difference, and greatly
to the injury of the taxpayers.
In short, it seems to US, and we say it
with all due respect for your honorable
board, that the sO-c2lled new sinking
fund ordinance looks entirely to the in
terest of the bondholders, and not once
to the interest of our heaTily-taxed citi-
Zens. We disclaim any intention to
lecture your honorable board for the
course you have seen proper to pursue,
but, as previously stated, the whole
spirit Of the act under which we
were appointed having been changed,
we are unwilling longer to serve as your
sinking-fund commissioners, and re-
specially resign our office. We request
that committee be appointed to exam
inc our books, receive the cancelled
bonds on hand and the balance of the
money, and if all be found correct, that
you cancel and return to US our respect
i've bonds given for the faithful discharge
of our duties. Very respectfully
W. A. GOODWIN,
\. M. HILL,
WIN. S. BRUCE,
Sinking-Fun6 Commissioners
On motion of Mr.. Eoush, the council
received the communication from the
sinking fund commissioners and refused
to accept their designations.
REMOVAL OF CARCASsES.
On motion of Mr.. Roush to refer the
subject of removing dead animals to q
committee Of three, the chair appointed
Harvey, Beehn and Moore.
EDUCATIONAL.
A communication was received from
the mayor in reference to the deficit of
thirty-fve thousand dollars due from
the city to the Memphis school board
for last year. The resolutions of the
school board already published were also
read in connection with the message of
the mayor, and the whole subject re-
ferred TO the finance committee.
COMMITTEE ON ACCOUNTS,
The committee on accounts reported
In favor of allowing the tctal sum of
$34, ,644 l6. The report was adopted.
IMPROVEMENTS.
The committee on improvements re-
ported favorably upon divers matters,
one being the letting oct by contract to
the cheapest bidder, the Building of a
brick bridge over the bayor on Linden
and Vance street.
MISCELLANEOUS REPoBTS.
The different committees reported in
relation to several old petitions and res
olutions, one of them being that of coal
oil merchants to erect shed and plat
form north of the Louisville railroad,
for storing oil, was granted.
OFFICIAL REPORTS.
The usual monthly reports Of officers
were read and received, among them
that of Chief Athy, synopsis of which
was published in the APPEAL. For re-
ports see in proceedings Of the other
boald.
QUARANTINE ORDINANCE.
A communication was received from
the board of health requesting the pas
sage Of an ordinance for quarantine pur-
poses so as to establish shed or house