Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-10-24

The following will fully explain the NJ
selves, and will, no doubt, have the effect OF
inducing on the part Of the city a spEscy set
uement OF debt that DOtn the ma. Ok and
council admit Is an honest one, The prOpoSi-
ton o. Mr.. Bethel, II is proper 10 eX plain was
made 70 the council at It's last meeting, and Is
now in the hands Of the finance committee
for consideration:
MEMPHIS, October, 1873.
To the Mayor and Common Council:
GESTLEM EMEN-Some -four or hve years ago,
when the MeSsrs. LoudOu, under contract
with your city, were paving witn stone your
levee and Front street, they became embsr-
rRss ior the want Of funds and applied 10
me for relief. loaned to them about twenty
five thousand dollars on six months time.
Upon the city failing 10 pay them promt tlg
they found themselves unable TO repay the
loan. After extending the time for several
years. finally took from them an assignment
Of a judgment which they had obtained
against the city fOr the work done, amounting
70 about thirty-twO thousand eighty -four dol
lars and eighty-seven cents, and paid them up
in full and TO their entire satisfaction, for
which they nave often expressed their grall-
tude for my kindness TO them by many per-
sOnal assurances and letters. This did rely
ing upon the capability OF the city 10 pay such
debt, and upon her honest intention to do
so. Both the pres ent mayor and his predeces-
sor have acknowledged the justice of the
claim and promised it should be paid.
Mayor Johnson, in the close OF his admins.
trationr did pay on the claim some several
thousand dollars. and fully expected and in
tended to Oay the entire amount,as he assured
me, out for the terrible Observation-Disclosures
being III our midst, and preventing collec-
tions which he would otherwise have made.
Under those circumstances l did not COM
plain, but have expected ever since that some
provision would be made to pay me this debt,
about the Justice of which there can be no dis
pute. have now held this judgment against
the city four or five years, drawing only six
per cent. interest. The amount has reached
about tWenty-Six thousand dollars, deductlng
the paym made by Mayor Johnson on the
judgment. L have obtained a nldHdamlcs to
compel the payment OF the sum. am assured
by eminent counsel that l can certainly work
out the collection OF my debt through the
courts, and l entertain no doubt but l can {;
but am anxious, If possible, TO stop litigation
and the expenses, both to the city and myself,
Attending the same. l am fully aware OF the
deplorahle condition of business, and that the
city of Memphis, like the most of our COM
munities, Is suffering under the pre- ssure OF a
heavy Indebtedness. l am anxious 10 see
her maintain her credit, and bring herself INTO
relations OF confidence with her creditors a
very i'm POI tant means toward her eXtr1catlOn.
l am also disposed to lend helping hand TO
her useful institutions, and contribute my as
sistance % ameliorate the condition of her
poor. propose, therefore, to you, gentlemen,
that II the city will pay me this judgment
which all acknowledge is justly due, with the
interest thereon, by the first day of January
next, that will donate out Of the sum re-
ceived the following amounts: TJ the city OF
Menu PMS, elUOO; 10 the churches OF the iOIlOW-
ing denominations for the benefit of their
poor: Methodist church, $500; Episcopal
church, 500; Baptist church, $500; Catholic
church, 500; PreSby yterian church, 500; TO the
widows and orphans, $780, Being willing TO
lose the amount of IOur thousand dollars OF
the debt for the benefit of your city and the
OBJECT which have named, hope TINS propo-
sitiOn will meet with your concurrence, and
an end be put to this litigation. Further
more, hold myself ready at any time TO aid
you in any negotiation with the creditors OF
the city, whenever il is supposed that COM
promise OF her Indebtedness is possible. Trust
ing you may take action upon my proposition
without delay, l remain respectfully yours,
ID q,