The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-09-14
LOCAL MATTERS.
BOARD OF ALDERMEN.

BOARD OF ALDERMEN.
The first regular meeting of the Board Of
Aldermen since the summer recess was held
Yesterday afternoon in the Counci Chamber,
President John A. Meredith in the chair.
Present at roll-cslI, Messrs. Bass, Beal'. Car.
rington, Forester, KelIam, Lipscomb, Man.
ly, Scott, Tanner. Vanderyall, Wagner, Will
liams, AID thinner.
FINANCE.
Mr.. W. II. Scott, from the Committee on
Finance, submitted report and resolutions
rejecting the petitions Of the following par
ties : L. P. Odel, J. Gays s. Co., James
Lyons, J. P. Justis, John j. Carr, Thomas II.
Briggs, j. r. Hockaday, for remission Of
taxes. -Remitting 1898. 25 to the Richmond
Paper Manufacturing Company, being the
TAX on 100000 improperly assessed, being
5000 less sc Is paid by the city TO the Com
missioner OF the Revenue ;refuudisg S123.95
to Messrs. Davenport j. Co., being tn. tax
on An improper assessment Of SIG, ,526.SS Of
stocks, &c, exempt from taxation !; remit
ting S14.l3 to \. w. Nelson, penalty for non-
payment charged on tax. bill Of 1874 on 1043
feet of land in alley between Fourteenth and
Fifteenth streets, &C., but continues ou the
Commissioners books in the name OF Rahm's
estate, 70 which it before belonged.
The committee return petition of William
Norwood asking payment Of 800 interest on
4 6 per cent. bond OF $4,000 held by him
with the suggestion that it be referred to the
Commissioners of the Sinking Fund, &c.
The resolutions were agreed to.
The committee also submitted the follow.
ing:
RICHMOND. September s. 1875.
To the President and Members Of the Board
of Aldermen: .-.-.-.---. .--..-r..--.---
The COMMITTEE on Finance, in compliance
with resoIution'of your body adopted, the
10Th of March, 1876, beg leave to report the
following settlement of claims for damages
decreed by the Hastings Court as compensa-
lion TO the owners of strip of land on Dock
street, and improvements thereon, between
Seventeenth and Eighteenth streets, con-
demred for the use Of the city by order Of
said court made 7th Of July, 1874, in which
commissioners were appointed for the assess
ment of said damages, and who made report
OF their action to said court on the 10th OF
October. 1874, estimating the total assessment
at S2l 400; which amount was decreed by
said court on the 18th February. 22d March.
aud 18TH May, 1915, to be paid to the follow
ing parties. with interest from the 1st of
February. 1S75-v!Z.:
To Il. aIezger, paid. 1,l0O 90
10 Eugene Carrington, administrator
of &. ii. Darlington, paid. d...........: 649 53
Hw Savo. paid. . '. ~ 1864 24
TO William j. Leake, paid ............. 80 10
Amount paid S2l ,l64 IA
H.rvis. ......................... 2s5 SO
Tota, ,,S2I 400 90
The above statement shows the amount of
principal paid on account OF said condemna-
tion-S2l ,lG414-in addition to which
S3OS. Sc has been paid to said parties for in-
tarest on their respective claims from 1St of
February, 1875. and TO clerk of Hastings
Court for fees S4.75. making total expen-
dture 10 date Of S21.477.25.
There is unpaid and due 70 the administra-
tor of j. B. Harvie S235 96. with interest
from 1st of February, 1875, no demand
having been made for the same.
l.. Il. Page, attorney for the city. appeared
before this committee on the 18th Of March,
1875. and stated that the decisions of the
Hastings Court, and the action Of its COM
miSsioneIs, bave been regular and proper. An
order for the condemnation herein referred
to was adopted by The City Council OF the
18th of April, 1874.
Respectfully submitted. "
NJ. L. STRAUs, Chairman.
The report was received.
Tue committee also reported on the sub.
iect OF q resolution calling for information
relative to their action in negotiating sale
of $4,000 of eight per cent. bonds OF the
city on The Dist June. 1915. The committee
say that b,fore making the sale they gave
the subject their consideration at meeting
held especially for that purpose on the 10Th
Junc. ut which it was determined that the
coming demands on the treasury would soon
be sufficient to require the sale referred to,
and having an offer from a source outside OF
the city for inyeotment-as they were ad
yised-it was deemed sound poliCyto make
the sale then, thereby avoiding the necessity
of soliciting purchasers thereafter. They
we're confident then that the city would de-
rive benefit from the negotiations, and do not
hesitate TO say nO,1 that their coDJectures
have been more than realized, resulting
principally from the fact that these bonds
having been purchased for investment, and
consequently Withheld from the market, has
had the effect to a great extent OF enhancing
the value of previous Issues, as VIII be seen
by O comparison OF the market rates then
and. no,O. The action OF the committee was
therefore based upon the policy and propri-
ety OF selling to an applicant before the ex-
isfepce of necessity for selling rather than
defcrring the sale to time that would re-
cure the seeking Of numerous indlscfimi-
nate buy ers, aud toereby depreclating values.
In regard to the apparently large balances
in the treasury on the 21st OF June ana l2'h
Of July, and referred to in the resolution,
the treasury was at that time in daily receipt
of the taxes for the pres Mt year, and as is
always the case sem,-snnualy, cash balances
are nece, ,safiiy large for short period, but
soon diminished By the constantly accumu.
3atine demands against the city, as will be
seen bv reference to The condition Of the
hreasury at this time. The monthly report
of the Auditor shows the disbursemen nts
from, February to August, inclusive, sos,
es6.31. TO which add S2s ,s26.95 deposited to
the credit of the sinking fund June Both for
The redemption of naatured bonds, making
the ,nontbly average of diskurseB euts $104,-
(IaD ga sum quite suGsieat,to arouse the
u,0laSc aud foresight OF tbe committee. 1
In conclusion. the coEnm hope 1t IS
nm n neeessary to assure the body that in en-
to discharge the duties incumbent
mon them they have had 20 purpose 10
u;p o. evrert. that of promoting the interest
ma welfare of the city, and are esnnGent
hat the negotiation referred to has tended
n that direction.
The report Wss Eeceiseh'@tt{ Il
.sU sFRoa rBg COMMON COUNCIL.
Comm 90 C,uueii ordinance liking the pay
Il certain officers aoaanesipg elections was
aiken up aud read. ..s sss [, Il t..t .,..4.....,
Mr. KeIan, moved to Jay on the table.