The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-03-03
5000 zlS IL

ending June 80. 1874, aIuoiiit tO.s1of,ioS w
Adj bills LAO by iLi> nuncii Tor lste - -.
t"u.ciI, ,......................... 1925 OF
ssO6 as IL
One h.lc OF Which being the average for six
r,onths-is al53 2G9.U5 :.
. hat TIL. expenditures OF The present Councli: OF
a. Kind. tar SIX mGnhs enGlss Snr,na ,Ss,
lin and paid and ra,r,d 10 be paid, In januai y
1878. are sI4l SG2 II. The expenditures OF me
present ouuclL lust stat n embrace Grains origin
aiine iulIng The over OF the late touncil to the
eIl,nt Of t42.2S6 OF. and bonds OF me ely PAID
and taxes reIundsd 10 The extent OF 70 ~.
,ure, Of The .wo Councis FOR six men ~ the5s
mus, De deducted the suln OF S42,23o.ua OF o!o
E'nJrJ from ,ur expenditures OF sl4l,s62.l7,
leaving %hch '+lns dea ssxel Of lfT
sl5S.Z09 5, makes NE Gihe1snce 10 ia<of VI 'ne
lad the lsi. cGnncii left 10 us the 62.02s 0s OF
taxes anticipated ny them. that amount, to2einer
with the revenue derived sl"ce july lst 1913
would have paid he i9j, $685. and lef, hand,
.Oluc surplus ana NJ liz cessilS "oulo Dave eA'set
FOR the Issue ny This C1uncil OF any uole Oh accyuns
O22 65-oaid on notes of III. Ciy should be charged
10 M late Council and thereby increas. II, cSpcn
dturre tor tx monks tu..............floo'zSd ~
Aud Gccrt ASt ours t"...'.....'''.''''' '@'o1o "
Making in our favor the sum of.....;. f63.615 Az
Ia addition /, tie cliim,. etc. PAID 10y lhiS louh-
ell for III. OLD Council. there sI exits the VIZ
AS III III bulls piyab. lift umraid hy It;
Your committee therefore submit That the amount
of nilI. ua,anIe nov uui>txndirg-lo wit, SlO6,-
3Ul.i2-l attributable 10 the contracts and engage
Incnis OF the old Council aid lis anticipation OF
,.a.s prep, belonging I" The III eseEt fiscal year
Ia nnklug ny he toIego lug Il ltencLts Your CON-
nli't do MT inc udc .eve al accounts which were
srIi->Ust&!ulug, aud which would IN no Wise anect
The crnCiGsiOnS ariivtdat.
Ia maxi K This part culdr exhibit OF iaG,s ano
figures SVsr cplnni,iee were artuatsd not ny an!
purpose 20 arraiyu The ac Council or to show mat
X had Iccu nee dle.sly eXlravdganL In me use OF
vuh!c funds. but /" present The same to the people
anal aSni JUDI 10, csg SEs " nl Tl
agali III The administration OF the pubic FINANCES.
Ecspcct fully submitted.
JouS ACGILL, Chairman;
IsAAC ROBINSON,
join ". GOODWIN,
X. e. SCOTT.
have carefully tXauIiued the foregoing report,
ard nu that the fact, and 1yures therein coutIned
arr Clearly enhI,iu by the books of the city un'
ID. DYSON, Treasurer.
The action OF the Council In directing its
Finance Committee 10 close with the offer
OF the shareholders OF the Merchants Ma
tional Bank TO pay ten per cent. on the city's
deposit (amounting TO some hundred thou
sand dollars) was based on the evidence laid
before it that the representatives of the bank
regard rs good only some 100000 Of the
capital stock Of the bank OF the original
substitution. In 1871 Mr.. Brooks in.
creased the stock 500, 900, and the amount
vas subscribed ard the shares taken by
responsible parties in Boston, Baltimore, and
New York; but it appears that the Board OF
Directors OF the bank did not authorize such
an increase, aud moreover, that the Govern
mcnt Bank examiner did not visit the bank
to ascertain is cOndition when these persons
were induced to invest SO largely in it. The
bank. 10 fact, was broken at the time, ana
the new STARE holders declare their pur-
pose Of resisting TO the utmost any
claim that they shall pay again the
amount Of their stock to make good
the losses Of depoSitorS. 1t is thought that
these cases, even If they proceeded smoothly
in every District court, could not reach the
supreme Court and be there disposed OF in
less than five years. Even if every case was
Won the denositors could not secure more
than some six cen per cent. Of the amount OF
their deposits. Meanwhile, the receivers
salaries, fees. travelling expenses, g.
would 90 on. 1t seems plain conclu-
aion that $4,000 now is worth the
chance of SIG 900 five or six years
hence. Times are mighty uncertain, how
ever, and The result may affirm the wisdom
OF the city fathers, who resisted the proposed
compromise to the last.
The river is still foaming and fretting, and
rising. II is tive and q half feet above Its
usual lever, ana ,Ofspslcn ilom raiut u'e
says il is ten feet too high up there. the
muddy waves swell over the wharves, and
the folks along the banks are removing in
wards and setting their traps in order.
Major A. 4. Venable was in town to-day
arranging aud preparing for his final de-
p4rture for Caifornia, which will take place
IN Z few days time. His many friends here
part from him with sincere regret and cor
t.al good wishes.
Mrs. Marks. mother Of AesSrs. William
and Alexander MARKS, wcll,known citizens,
died last night at the age Of seventy.one.
No rain to day. but laat night the rainfall
WAS terrific. ROBIN HOOD.