New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-04-26
NEW ORLEANS REPUBLICAN, WEDNESDAY, APRIL e. 1876

| Sl34, $50 81. Daring the summer. or saw
from the 6fst Of July to tho frat of Novem.
Der, heavy repairs will have to be made to
| the Wharyes, which the revenues. placing
| them st the came = last year, cay 81, 800 6,
VIII mot be sufficient to cover; to this de-
| acit must be added cost Of bonds to be re-
| deemed, interest on bonds, and tho other
items already mentioned. which ct the same
ratio would increase the deficit on the first
Of November next to el90, 900 At the lowest
calculation.
g. Your petitioner calls the attention of
your honorable body to the diminished rev.
enues from the wharves. This is due to q
variety Of causes. / will mention first the
loss OF i've cents per ton on steamships,
which will amount to at least SIC, 900 this
year, and will probably exceed this amount
taking possession of the wharves, l found
that the rate of twenty cents per ton could
not be collected. The city had only
charged fifteen cents per ton, and when
attempted to enforce the Oollec.
ton Of the rate fixed by the or
dinances. I found a combination of
steamship owners and agents arrayed
against it. and determined on litigation,
which would have resulted in the revenues
on upward of 900 steamships, amounting to
about $4,000, being tied up indefinitely,
and probably the question might not be dc.
cided during the term of the lease. Every
dollar of revenue being needed to pay for
repairs, was compelled to accept the pre-
cedent established by the city.
In the next placeI will mention the loss
of revenue on steamships and other vessels
which arrive at and depart from Algiers
and Gretna. Notably, in this connection, is
Inorganic line of steamships, which, after
commencing at theCity wharvee. withdrew,
nd uhor
the opposite side Of the river. The loss
from this abandonment of the city wharves
by these vessels may be safely estimated at
$4,000 per annum.
To revenues this year, ending June 80,
will not exceed, and it is doubtful il they
will reach, $2l5, 900. The falling off in
wharf revenues is accounted for in part by
the imuense amount Of cotton and other
products which are carried North and West
by rail, and the large receipts of Western
produce and merchandise by the came con-
veyance: The spectacle is presented this
early of steamboats, leaving our port ALMOST
light, and many boats have been laid 10
for lack Of business. The Red river trade,
once so vast, is now only sufficient to en-
ploy one third the number OF steamers that
formerly found profitable employment in
that river.
Added to the cost of repairs, which has
been 80 large. and diminished revenues,
your petitioner had to encounter the appre-
citation of wharf bonds, which, nominally
worth City -four cents at the date of the
lease, have advanced to seventy six cents
on the dollar. This advance is not justified
BY the true state Of affairs, but is founded
on the erroneous idea that the wharf reve-
nues haze greatly increased.
The revenue from the wharves is the re- |
lance to pey the obligations Assumed in
n;uish nd
the bonds appreciate, the lessee must in |
evitably succmnb against euch odds.
Your petitioner would also direct the at |
tention Of Eour honorable body to the fact |
that, owing to the high stage Of tho river, T
IN amount Of caving in of the wharves and |
evees occurred beyond precedent. Many
IF the wharves, some entirely new. were
carried down. and the extensive wharf of
Tue Liverpool Steamship Company, nearly
new, and which. cost upward of SIC coo,
had to be almost entirely rebuilt. This
saving in also has necessitated the construo-
ion Of 1865 feet of bulkheads since the |
irst of February last. Your petitioner has
ound that in addition to the repairs V hich
will have to be made next summer, the
deposit made and making 10 front of the
in the First District will necessi-
ate their extension.
1t being impossible for your petitioner to
|
an be afforded by q modification of its
ouditions, he asks the agreement of your
body to the following PROPOSE
lone, to wit;
l. An extension of the lease for two years.
9 The suspension OF the payment of
$500 per month to the city until the first
ay of January next, the amount then due
0 be paid in full, and q remission of this
barge to be made for the remainder Of the
Ease and extension.
s. The suspension Of payment of interest
d wharf bouds due in June next, for twelve
,Onthe, and after that time the interest on
ne bonds to be. paid semi-aunnslly to the
nd of the lease.
4. The suspension Of the redemption of
hsrf bonds for eighteen months. wien he
ill redeem the bonds then outstanding IN
lonthly instsllments, from date of resump-
on to the cad of the lease. u
In consideration of this extension of the IL
ase for two years, your petitioner agrees
make equal to three squares of ground I
bove Canal street, which will be worth
the. city from $4,000 to 100000
e also agrees to reduce the Wharfage
ues during the whole period of extension !
n per cent. 1t the above propositions
e accepted, it is perceptible that the city I
1d the bondholders will be in better
lndition than if the wharves had rot been
deoI. Az 10 Will hAoWp W VuT uOuOFGUlo ] !
,dy that if the lease had not been made
ie city would have appropriated the
venues from the wharyes to keep them in
pair, and 10 interest would have been a
Aid or bonds redeemed for long period,
i'd consequently wharf bonds would have
zen lower than any other city bonds.
Therefore, and in consideration Of the :
cts which are presented to you in this
aud feeling his utter inability to .
imply with the terms of the lease as it | :
Nv stands, your petitioner prsys that your !
body will accord him the relief G
ssks, and. which will enable h,m to carry | b
g lease IL a successful issue.
HENRY ELLERMAN, Lessee.
Hon. E. A. Burke. Administrators Of In
ovements, asked for and obtained leave =
'sence fos fifteen days. !
The Council then adjourned to inset on | 5
1ursdsy next, the twenty seventh instant | i
j. II. HARDY, Secretary
CITY 0RDINANCES--OFrICIAL. +