Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-06-23

Gil to look after the Happy Hollow fund.
Adjourned to Tuesday afternoon at
half-past three O'Clock.
COMMON COUNCIL.
The common council met in the city
hall at hslfpast three o'clock yesterday
! afternoon, President Zent in the chair.
A number of petitions were presented
/ and referred to the respective commit
| tees: That Of the cotton compress locat-
/ ed near the Mississippi depot, was re-
/ ierred to the committee on improve
/ ments; that Of the Globe gaslight COM
pany, offering to light the suburban
| lamps at two dollars and ninety cents
a month, payable in advance, was re-
| ferTed to the committee on lights and
| lamps.
NEW RESOLUTIONS.
Councilman DanbuTy: To ascertain
| the cost of Strengthening the bayou in
the vicinity Of Wolf river. Adopted.
Councilman Cochran: Asking the APP
| pointmeDt of committee to inquire
| into the disposition of the Happy-HOl-
low fund. Adopted.
Councilman Camp: Instructing the
mayor to turn over the books Of the pO-
| lice and fire departments to the com.
missioners. Adopted.
Councilman Danbury: To sell the
Poplsr-street enginehOUse. Referred.
Councilman Camp: To repair the
| NicOlsOn pavement at the corner Of
| Second and North Court and the alley at
| the express Office, north corner Of Third
| and Union streets, Withdrawn.
The resolution providing for a settle
ment with w. NJ. Harrington was re-
| commended for passage by the finance
| committee, the condition being to take
! eighty-five cents on the dollar for his
| judgments. The resolution authorizing
| the compromise at eighty-fve cents on
/ the dollar was adopted.
Deputy-SheTiff RicharGet, of the first
| circuit court, served the council with
notice Of D1GHdGnaOt8 No. S25.
BUSINESS FROM THE BOARD,
The ordinance regulating meat-shOps
passed its final reading. The license on
meat stores is one hundred dollars per
annum, and no restriction as to location.
The council coucurred with the board
of aldermen in their resolution includ-
ing the authorizing the mayor to issue
! proclamation making Monday, July 5tb,
| holiday.
Councilman Cochran offered an ordi-
nance limiting the pay Of the members
of the council to one dollar per month
after the first of July, 1875. The Ordi-
nance was lost, COuncilmen Camp,
Green, Carpenter and Cochran voting in
the affirmative, and COuncilmen Hew-
lit, luther, Cl0ustOn (colored), Doherty,
Wood, MoOres, DanbuTy, Grant, Moon
(c0loTed), and Ryan in the negative.
REPORT OF SPECIAL COMMITTEE.
To the Honorable General Council:
Your special committee appointed to
consider the communication OF the
city attorney in regard to the city tinaG-
ces, legislation, etc, beg leave to report
that they suppose the council, by their
resolution, desire to know if the state
ment Of the attorney So TO the financial
condition of the city is true, and also to
have placed before them evidences by
which they and the community may
judge who is responsible fo7 any unwise
policy (if any that has been inaugGra-
ted during the present administration.
For answer 20 the first we herewith give
the statement Of the city comptroller,
which we are convinced from eXamina-
ton is correct. In this connection we
will state that the comptroller has no
right to put on his books as q liability,
disputed accounts or claims before they
are decided by the courts against us.
Such claims are, however mostly small, !
the wateTWOrks case being the only one
of any magnitude-say forty-tW0 thou |
sand dollars.
ASSETS AND LIABILITIES OF THE CITY |
Or MEMPHIS, MAY 81, 1875.
LiabiLi ieS-BOnded Dent,
Six per Cent. Post Bonds, currency. 8, i26,0GO
Ten per Cent. Post Bonds, currency. 5000 !
six per Cent. Paving Bonds, currency 1ij so |
Six per Cent. School Bonds, currency. 5000 |
Ten per Cent. ScnCOi Bonds. currency 10000 |
Six er Cent. Mississippi River Rail
rO&d Bonds, currency. 10000 |
Six per Cent. Funding Bonds, gold. $4,000 |
TotaIBonded Debt.......,......,........s3 722,5Ge
Floating Debt.
Bills payable. ............... S!g,1lI 70 |
Greenback scrip.................,. 415 " |
City scrip ESTIMATED 234 Is /
Judgments obtained .........-......... s. 1871 II |
Ledger balances due indiVIdualsl. l6Ii59 50 |
COUPONS sI ofs due pri0f TO- 1871 ieSta Is i3i0 %
Coupons due January, IS7l.............. 1873 20 |
Coupons due July, lS7l.................. 1850 90
Coupons due January, loI2.............. 2sSlO W /
Coupons due May, l672...-............... 80 70 |
Coupons due July, lS72.................. 1900 %
Coupons due November, lS72........-. $50 90
Coupons due January, lSI5.......,..... 4I,JlO % !
Coupons due May, lS73..................... $50 90
Coupons due July, $3.50 %
Coupons due November, lS73........... $3.50 %
Coupons due January, lSl4.........,.... 6l,ilJ %
Coupons due May, lS74............... $3.50 90
Coupons due July, Isl 2,l6j %
Coupons due November lS74........... $3.50 90
Coupons due January, lS15.............. 1920 %
Coupons due May, lS75.................. lO,25O Oh
T. +, Browns judgment......,.......... 2S6,91S Il
Paving receipts, certificates OF in
debteduesS or Change warrants
with au estimated interes of
seven years due.................... 734,957 OJ
Total floating debt...............SI s, sol, 1852 50
Total liabilities including the TIE.
Brown judgment and Nicholson
pavement debit never before in
J22,05Z u
assets for Reduction Of Bonded Debt.
lS2 bonds due by purchasers Of
city's stock in Memphis ana
Charleston railroad ....................S $4,000
Is bonds issued in 1863 as collateral
tor city notes, which are included
in bills 1000 |
PaSt-due sinking fund tax $685. % |
mission ..a 9SI8 Il
de5t.... .-,-,'.. - 2422OI %
FOR Reduction Of Floating Dot.
Tor genera purposes. ',.,...,.....,s 679G6 Il
Past-due taxes due prior to 1879
Bills receivable (notes Of galloway,
Hampton IL CO.)................... 5733 %
count Of marine s.......-,,.. ..,......-.. 1913
Coupon interest due by Charleston
railroad stock purchaSerS..-........-. 73,lOl 81
Robertson Iopp, mortgage on Gayo- -
city treasurer, cash on hand....... 38OI9 81
BFoEn, jadgment 1871 65
Past-due Ieim bursting taxes for
NicOlsOn pavement debt.......,...... 1875 065 81
Total for reduction of floating
ueDL... ,403,UI I6
Total ,675,2O8 80
Total Liabilities. ,522 1852 81
Total I,675,2US 80
Excess of liabilities over as
SeJs, or net SI7, l01 Is
AS to the other point we find that on
May 6, 1874, the mayor sent to the gen.
eral council the following cOmmunica-
ton:
MAYORS MESSAGE.
Read 10 General Council in Joint session,
May 6, 1874
Honorable Board Of General Council:
GENTLEMEN - In submitting for I
your consideration the financial con-
tition of the city, beg leave to inform
you that there are several cases pending
in the United States circuit court seek ,
ing judgment on account of pRst-due :
bonds and coupons, At the last term of
the court judgment was asked for and
on sixteen thousand dollars in ,
bonds, fer eighteen thousand five hun
bred dollars, principal and interest. This :
has already been presented
to you in a communication by Mr.. Han 3
son, city attorney. 1t is full time we