The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1876-08-08
CITY AFFAIRS.
Goathiy Meeting of City Council.

The regular monthly meeting of the CITY
Council was held last evening, and despite TIL
hot weather, considerable business was trans
acted.
BOARD OF MAYOR AND ALDERMEN.
Petitions Presented and Reterred-Of Rich
ard b. Sewell for permission TO erect woodel
building on Montreal street; of e. 2. Chase. tC
erect wooden houses on Congress street; of j
Is. Brown, ct ais, that the trees on Danfortl
street be trimmed: of Cyrus Cressy TO cree
wooden building on High street; of Patricl
Fox for damages by falling off sidewalk OF
Fore street; of Margaret McGlaughln for dam
ages by falling on side walk on Fore street, Of
Melville Henry Tor license to keep an intelli.
genco office; OF Pelley Russell & Co. for re
pairs OF side walk on Commercial street; OF
John Mussey for same; of Society for Proven.
ton OF Cruelty to Animals, asking that the
hacks and drivers be required to procur,
licenses; of residents Of Larch street that the
same De graded; OF Mrs. I. b. Noyes for dana
ges from fall on High street
Orders Passed. Ordered that the CITY Treas
urer give notice of the sale of the property
mortgaged to L. d. Cole; that the Treasurer
give same notice to Charles II. Adams; that
the committee on fire department be authorized
to purchase 125 feet of leading hose.
John d. Leashe and William Rice were
drawn as grand jurors, and e. G. Bolton, Ed
ward Thompson, James Harper, Hanson s.
Clay, Charles j. Bond and William Goold, as
traverse Jurors.
An order from the lower Board asking for
the change of the fence around the Western
Cemetery, was infinitely postponed.
The Mayor vetoed the order for the re.valua-
ton of the city property. After some discus
sion the order was passed over the Mayor s
veto.
A communication received from the Commits
sioners of the Sinking Fund of the Portland &
Ogdepsburg Railroad Company, stated that the
finances of the company were unchanged since
the last report
siThe Mayor laid the following communication
before the City Council;
CITY OF PORTLAND, MAYORS OFFICE,
August7, 1876.
To the City CouncH.
Gentlemen: l learn from the. City Treasurer
that on the first day of September next, there
will be due in interest on the bonds of this city,
issued in aid of the Portland 81 Ogdensburg
Railroad, the sum of forty thousand and five
hundred dollars.
In February lasf, when the same amount of
interest fell due, verbal notice was given to my
predecessor that the company would be unable
to pay it, and that the city would have to pro-
vide for it, No othec communication has been
received since that time. but it is believed that
there IS for the present no probability that the
company can meet the interest as it had under
taken to do. | feel it my duty, therefore, to
call your attention to the necessity of providing
at once the means with which to pay the inter-
est alluded to, and for that purpose l submit
herewi tn an order authorizing the City Treas
urer TO hire the sum of forty thousand five hun
dred dollars.
The present occasion seems to be a proper one
for asking your attention to the situation of the
city with regard to its liabilities on account of
the railroads which have been mainly construct
ed upon the city's credit, and the burdens
which the City may be called upon to assume,
Although We were assured that there was no
danger OF the city ever being required to pay
the principal or the interest of the bonds issued
IN and of the railroad, yet no sooner had all its
bonds been received, than the Portland & Og-
densburg Railroad called upon the city to pro
vide tor the interest. No explanation of this
failure to pay the interest," and thus comply
with the conditions of the city loan has ever
been given, nor any representation as to the
future ability OF the company to relieve the
city of its burden, The Portland & Rochester
Railroad Company first failed to pay the inter-
est on the city Joan nearly three years ago, and
compelled the city 10 issue bonds to provide for
such interest. This company undertook to pay
the interest on these interest bonds, but is now
behind hand on its last payment AT the pres
ent time the city is providing annually for in
terest on the BONDS loaned to the 2. q r. Com
pany the sum of $8l 200, and for interest on the
bonds loaned to the Portland & Rochester Com
pany the sdm of $780, 200, making a total of in
terest now paid by the city on railroad loans of
$l50,000. In addition to this amount the rail-
road companies were to provide sinking funds
to take care of the principal. No payments
have been made in to the sinking fund of the
z. s. o. road, and none were required TO be
ma Fn nm nyt htlr &c afa TO-
that if the company is unable to pay its inter-
est it will not be able to make any payments in
to its sinking fund. The p. 81 r. Company
has furnished to its two sinking funds the sum
OF S71,000 in City bonds, Of which $4,000 is on
its first loan aud 900 on its second loan, but
payments into these funds have entirely ceased
since July, 1873. The city ought then, in COM
mon prudence, to pay not only $4,000 in in
terest annually, but it ought to consider the
question of keeping up the sinking funds which
are to take care of the principal. We now raise
every year by taxation five per cent. of our
municipal debt for sinking fund. Should we
be compelled to raise five per cent, of the above
mentioned railroad loans il would make an an
nusl assessment of $125,000, an addition to our
taxes too burdensome to impose at the present
time.
In this condition of things, it seems to me
unquestionable that the city authorities ought
not to incur this constant succession Of new in-
debtednesS by the issue of bonds to nav inter
est, and remain Indifferent to these failures of
the railroad companies to perform their agree
ments. The time has come for an inquiry into
the past and present affairs of these railroads,
to ascertain what are their present resources
and their future hopes; what policy should be
adopted by the city in regard so its interest in
them, and how the city can best relieve itself of
its present burdens.
would suggest that joint special commit
tee from the two Boards be raised to consider
the whole matter, and to report to the City
Council whether any inquiry is necessary, and
in what manner aud by whom it should be
made.
AS suggested by the Mayor, the Mayor, AL
dermen Waterhouse, Perry and Cushman were
appointed the special committee on the part of
the upper branch, and Messrs. Somerby, Marsh,
Knowlton, Russell and sargent On the part of
the Common Council,
Alderman Fox presented the following reso-
lutionE;
Resolsed, That the City Council learns with
pleasure that the soldiers and sailors of Maine
are about to assemble in this city and to hold
reunion of those brave men who made the
name of our state illustrous for patriotism and
devotion, and that we tender them on the part
of this city cordial and heartfelt welcome.
Res0tUed, That a committee be appointed
from both Boards to cooperate with the local
committee in rendering to the soldiers and sail
ors of our state a fitting reception.
The resolutions were adopted and the Mayor,
Aldermen L OK aud Greeley and Councilman
Walker, Dennison, Andrews, Brown and Gun
bingham were appointed on the committee.
The following order was refused passage;
Ordered-Tbat the grade of Commercial
street, from the westerly corner of Plum street
to the easterly line of Cross street, be and is
hereby established according to the report of
the City Engineer thereon describing the
same.
Aldermen Greeley and Littlefeld, and Coun-
cilmen Cunningham, Marsh and Roberts were
appointed a committee of conference
An order for building . market house was ip-
troduced and passed, but the lower board laid
it on the table,
The board reconsidered the question of grant
ing Mr.. Lombard permission to erect fish wiers
in Back Cove, and voted to grant the permits
sion.
The order recently passed for the dscontin-
uance of five feet and three inches on the east
erly side of Pearl street was re-considerud and
amended SO as to discontinue three feet. The
lower board receded and concurred with this
board.
A communication was received from James
n. Winslow in regard to the furnishing of