, 1875-08-05
THE COUNCIL.
Communication from the Comptroller
Concerning Duncan, sher-
man & Co.
1t Is Decided tho City Shn1l
Shoulder tho Loss.
4 Move to Let tho Fullerton Avonut
Conduit to Tom Mackin.
Proposition Tint tho City Shnll Build
lis Half Of the Courthouse.


-
r. WI, rnr,ov Tto f,vn hroh;toct and Have
LIB o"n Eiana'
--
f,rd1oancs for lin Romoyat Of All ro!curaph
Poles.
speclal meeting Of tbs Common Council wss hold
1A' A's''' f'.o'rsm nms".x ~ smrnx.s ,o
ooHo"''' e"'n - - ~. ,.,.r
Tho following communication from Tho Comptroller
On shs a7th Of July the banking .hnuse Of Merar..
rHncsn f3hernnn 4 Co. Of Nav York cIpseu tAelr
Tos o1es twrntY YSars Ills house has acted ss tho
Il aren't ~ s city for tho Isyucnk Of thn prn
sp; I'D "a ;ss e tho BONDED as' Of tho city
On the 3Sh Of juue l.st t,eposi.c with them, 10
tho - eroai Of Chicago c,ty, sates-lo.n .seoi'nt,
sno asa -: fn,ni S,67, ,653Bj tustruc,cd them 10
p.y from ,hs x.tor,loan s,uron account wnsel-loan
oora aouisa ., sT mnepsi eopon. duo Jy ill.,
sG3oR n ii, g os a is5 St
Tho proyoue balances fof payment OF January couna
not presented w:ro: Municipal COUPON sceonts. s
III bsonrcs ia ths credit Of tLcso accounts were
tha nn,y fns Of the city ~ deIost with the hpse 1t
shs In. n Ibe{r surpsnt!ou On tho 18th OF July
them for staomspt Of lie condition o!
cus aannnts. MOI receiving an answos ro1uc.tei
0eoreo s. Coe, E.q, President OF ahs American fx-
ohsNSe Nations. Hank tn apply again for the tnfosua
gr.rh yesterday. which Is cnn1rnfd BY letter At
hanu to-aay tFon tae tton ~ 81 ftns assiSnso
o. a sne M.u' IT, ,,rcssrt baIancc to nnr credit.
IA follow: Wutsr- loan coupon account, $EG,Od5,
including f,o0 to pay wator'Dond No' " ", E e, dno
Jon !. lblAi HuH1clPAl ootIpA aSeuH, t...s'.sn't
- hsInnss.s a. n,s Il
Ihe smonnt Of outstanding coupons md bonds IL
within these figures.
city pay these coupons aud bonds but there can 10
no question shout ths mo1sl Obligation q tha ey 10
rroF!dc for them They nfe hed toa great e1tcht W
small propretors, In small countrct. who arc ignorant
Of cur laws and =. gseat distance from sao nasso Of Of
nssn Sa u to nfrG a,a Ta by Ds
Years. great and WEALTHY city lie Chicago cannot
avail sel Of technical 1cfensa under thean cireuns-
| asncea. It "a enough for ~ 70 Know that shf%o
coupons and bonds have not been paid. although
and n1ao rogard for our credit and reputation ie-
tu.nd that we pa5 tnesn Without delay. -u,--
order. and recommend its passa9e, in which havo
tho concurrence OF tie Mafor ana fnance Oomlmsoe.
n ~. =, its.n = =. - tns ,.s, Ga,;to !;t,,
| WHKhfAe4 1ne CHy OF CaicaSo hau AepohucG, "ito
Mossrs punean shcrmsn Co3 1t Sex - Soss @ ~ sno
funds 70 pay certain conons sna o. 3 fne q ,
tins et the future of ;,a ,a r@ 1ny ~ ls por
tton OF lud COUPONS eaa oonts Esma.nea e. unran'
camifot; b. sna they ire hsrsSs, AMI
he cy Of Gle.so saie haso 1nsred 10
| thts date.
| DEBATE. -. ..
A1d schanner aid t.at, in order to maintain the
MN, c,c,tt snrh action Al recommended by the
~ ..,"r. ,..,a ~ 49,, ~ nnra IJo ,,rc.G tint
compsroles should % 'a1en as once' -" u's'u 'na'
ses b.. sIeoa eondsr.a i" hs ss and xsrs I'd Of hs
s,S ssast ..
tho city would loso more than tha amount lh'o!veu
when il should attempt to negotiate anocE loan. The
citJ waa carrying dosting debt ot four millions, md
about svory three ontha wsa nsceasary 70 borrow
money to meet the olty, engagems2ts TIE city Nigh,
ct eer aord 70 lose is monsy sbaa 70 s.la a credit
would not ee understood 6y il creditors.
Aid Batloy wanted ii to DO referred to tho Commit
| tee on Finance.
AID. Campbell and Il,ldreh tried to argue nm Fo on
Gil shout 10 suspend tue ruca tn oFdur to pas The
efAes whom b. yielded to ss % 4 ,pa 10 a.ass
tho amount In tho order, Lut was analy iasssd IL
tho form recommended by Tho CotnptEoless py al
unanl'nou, w, vote, ,.,,x .vv,rx ,oxn,rr
| FULLERTON AVENUE coSpolF.
| AID. Stout brought tho fAlcrtoh Avenue eonam
matter up ~ N order resting shss sns hoard o. r1
s ~srs pa ssss a fSs
prevleu: failurs ~ eost tho sty s'!d 'a T no
ordar, therefore, dtreetod tho bosfu u PUBLIC NOTES
Iet tho work TO Maekin.
Aid. Callerton aaid Tho city haa oeea " ounKoea
nsut q TINT man Iester. vie s nnw ,a ",
in4king tn estimates o. tasons : Gonm n.s au
thing to DO with anyt!ing that thai man Lcater ".
~ angess H. .,,d A 1eaciys W. tho cantr.ss
Ald. Hidleh 4A!d that, whun tho award to Norris
.aa 81 rs ssn;t:s: r. .s,'a I I us d
yshsmsnco. :,