The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1874-08-27
As9alar Meeting City, oasnou.
CouNoIu CHAMBER.

COUNCIL CHAMBER,
COLUMBIA. s. O.. August Is, 1874.
Council met at 816 P. NJ. Present.
His Honor tho Mayor, Johnss Aaaxan.
der. and Aldermen Brown, OSeT. T.Usr-
roll, Cooper, Davis, Pugh. %Simons.
Swygert. Thomas and Wells. Absent
Alderman Purvis. The minutes OF the
last regular meeting were read and
confirmed.
PETITIONS. COMMUNICATIONS, 80.
or Gabriel Young. Charles Shuttle,
Samuel Dent and P. g.. Boatwright,
asking that their claims be made re-.
ceivable for taxes. Received as in
formation and ordered for considera.
tion under the head of new business.
OF Robert Geiger, for lease of por-
tion OF street at corner Of Logan'a gin
house. Referred to the Committed on
Streets
OF Board Of Health, asking Council
to fill vacancies in suid 3 ,ard from
Wards l and 2 Received rs iriurun.
tion.
The following bills were presented
and referred to the Committee on Ac.
counts: Betty Douglass. Willinm Ii.
Thomas. Market; a. Richardson aud
John Alexander, Guard House; Coopcr
q Taylor, Aims House, Hospital aud
Bell Tower; John Alexander, Street
Department, Fire Department, Water
Works Department and City Park
John @. Dial, City Pnrk.
Petition of j. w. Thomas for tavern
license was referred to tho Committee
on Licenses.
OF City Treasurer, showing indebt
edness of city, as follows. Recsivp.l
an information and ordered publish, i ::
OFFICE CrTY TREASURER.
COLUMBIA. s. c., Aug. "a, 1874.
To The Honorable Mayor and alder.
men City Of Columbia GENTLEMEN: I
have the honor to present herewith
statement OF the Indebtedness OF the
city of Columbia, on the lst of An-
gust, 1874.
The facts which I now present for
your consideration have been ascer.
tanned by oarefol aud laborious in
vestigation of nearly two months. In
order to arrive at the interest due and
unpaid upon the city debt, I was com
PEELED to paste, in the boud books pre-
pared for that purpose, the coupons
redeemed during the past two "ars,
anu to compute upon each BOND the
amount of interest due aud unpaid
from tue date of the latest matured
coupon pasted in the book to tue 1st
OF July, 1874 Without intending to
reflect upon any particular individual.
1t seems to me that the books of this
office have been kept with n view to
conceal, rather than to exhibit. the
true condition of the city. The en-
tire financial transactions OF the CITY
for several years have been kept in n
single book, called, for short, q cash
book. and convenient system of GROSS
entries enabled tho book. keeper to
show proper balance ut the close OF
each month.
On the the lst of August, 1874. tho
following bonds were outstanding:
per cent bonds. .Sl67. 900
per cent. bonds. 900 700
Prior to the fiscal year 1878, no spe.
clfic tax was levied to pay interest
npon the city debt. In 1873. there
was levied for thun purpose, upon the
taxable property of the city, IL tnx of
eight mills, and in 1874 Il tax OF seven
mills; totnl, fifteen mills. There was
realized from said levics of fifteen
mills. from January. 1873. to tho Is.
OF August, 1874. $40, 0,556.34. The
amount Of coopoDs redeemed dnring
said period was S44,45O75. From
which it appears that the cum of
SIG, los. SO WIS diverted from the spe.
cial interest fund to pay current ex-
penses.
The annual interest on the city
bonds amounts to S37, ,423, or 1876
for the years 1873 and 1874. Now, the
interest tag for said gears rcaliza,! ONLY
S6o, ,556 81; 80 that, if the entire pro-
ceeds thereof had been properly ap.
piled to the redemption OF the cou-
pons, and If there had been no past
due coupons outstanding January /,
1873, said levies wonld still be insult
gent to pay the actual interest by
Si4. 2S9.6G On tho contrary, how
ever, there was large amount of ma
tnred coupons unpaid January l, 1873,
and SIG, los. 50 Of special interest tax
was misapplied; so TINT there is now
outstanding past due coupons to the
amount of S53. .28l.5O.
The entire debt of tho city, ns fur as
l have been able to ascertain, is US fol.
lows:
Bonds. ..s55s, 600 90
Interest on above, due and
unpaid 53,2Sl so
BILLS payable. ............ 66, l2S 36
Bills ordered for payment