, 1876-03-14
Comptroller Hayes Apparently Making
Progress In His Nogotia-
tions.
For There Was Sent Him Yesterday
&1,700,000 In Certificates.
Tho Chicago Banks Averse to Making d
loan Unless It Is Necessary
for tho 0ity's Credit
What the Mayor Has to Say About
His Negotiations.

uattefHs WHICH NaVe 1usE Rcen. i NAV0 not
recommended dlscount Of 10 per cent, or Of
any amouns, upon back taxes. hare only req
ommenlcd, subject 10 tho opinion OF tho Law
Department AZ 10 fts LOCALITY, Al allowance OF
2115 per cent for prompt payment, bcipg In tho
nature Of interest Mt about 7 por cont pcr annun
On tho real ostato ta1es OK 1875, for which
judgment will not bs obtained for sew
cral months. When the present admin
iatration cana into oflco, December, 1873,
bosldca over cocoon, 600. OF appropriations moro
thnn half expended and for which no ts1 levy
had been rnado, and bosides tho upcol1eeted
taxes OF 1879 of e7o0, 600, and bosidoa tho Gage
deficiency Of e500, 900, thoro were deficiencies on
the warrants OF 1871 and six preceding yoRrB Of
noAr S30p,00Q, OF whioh 976u,000 remAtned u1l-
collected tho lat OF laat January, and e7oo00o
may ho considered hopeleaa. do not blamo
any ono for those deficiencies. This adhlinstra-
tion, although not responsible for thon, has tho
courage to aak IN appropriation OF 100000 to
ho2p mako thom good, aud should receive tho
support OF nll who desire tho wotfaro Of tho city
in du'ug 80. Tho dnlou1tios Of our financial
situation should DO met by united action. reduce
ton Of all unnecessary expenditures aud liberal
appropriations for tho payment OF onr dobla.
8. s. HAYES, Comptroller.
The Finance Committee Of tho Common
Council hold meeting yesterday afternoon
kt1ho Comptroiler's office, ut which tho Mayor
vas present. Ills Honor prodnoed and read
lettor from Comptroller Hayes, now In New
York. In which TINT officer apoLo favorably Of
his prospects, for making such loan "a ho
wont after. Tho letter WAS q very short ono,
and concluded With q request 10 Ilnve certtl
Gates to the amount OF s1,T00.oo0 sont to him
properly signed. Tho Committee complied, and
eont tho documents mado out In sun,a
of $3.50 aud 960,000 aach fer ak and
eight months. This ia a rathor shorter period
&han has usually bean givon Ellis paper to ma
tuto, but the Commttteo and tho Mayor bolieyo
that It will bo posaibIo to collect largo portion
Of tho city's tax by or before tho siuao when tho
certificates viii fail In. It III intended to havo
tte warrant In tho hands OF tho Collector carly
Ia August, which will onab'o tho Treasurer to
have in hand p1euty OF money In tino to covcr
tho outstanding indebtedness Ia tho Shape Of
certificates al II natures.
It IL pretty corta1n'that thero will ho
no TROUBLE ~ I1oSrtSo TUE AAouHr o7 PAPER
sent 10 Atr. Hayes, aud the money which lo will
rcccivo will onaalo him to tako uC-in olrcct TO
nov for short ttnne-tho certificates falling duo
up 10 May l, md something ever. lilo Comp
ttoller'a annual eatimatos show that tho sum Of
81. 539, 270.2 % IN certificates must bo mot aud
paid during March aud April. Tho bum
to bo borrowed Will more than cover
that, aud there is alHo Bum ap-
poA'oMn'ng Ma ~. Mlinon ~ ~ Sna lto, ltaasasS
now. Iho sntPius from tne 81 p'uuo loan ma
t!o ~ saut 49, ~ 4auu WI 1utt Ao"e4clt uiees eAo
sl.eo1, oVs;1o o. eeft.hentes lnatarfnE IN Nlhy,
anu d autsneF aoen !nuat ~ nauo oefote juno l.
~ LIES ~ eF1aahs 1lotn tno iansnsga ahd movements
get enough money at this visit to cover this
suH' s.. Anu IL ~ u!so prett9 wei asaafoa iaet
!hst M mo %, sum of eostncatea sent yeatorday ls
ABOUT al 10 ean iloas a. kao present time.
spnesffs TO , bo tha @ suspicion among Now York
-pitallats ti!ae inc Ohlcago hanks and bnnkers
s 70 AFRAID OF their own olty,H paper ~ has BE-
uLs ho.o pson salu, ss must 20 removed y possible
Ting loan iu Chicago has already boon notod,an
remains 9nly to 90 said that Ae yesterday called
~ soSafaa oanAs mug nahkefs Gag oosashed sach
hoTevsr. agseoa shat meeting Of bauk repro
sschsaaSes anu nankefs should oo ho!d to-day to
TX upoa some un1tou course OF acttnns anu to
sf1engs 70 loan me CITY such aum IN gross or
)! uutM4 ~ tney HAy aosM proper.
>. n pretty Weii understood that tho city All
.iuas4sn T ~ W. tuo1 patt'cunl'y AnAlous 70 tet
1u*n 1oi unJ Mt6e a4ouuut ~ C1llcAHo-thAt H.
sos s,.o ~ uot o.poSt 70 boIlo" nionoy hese es
Fneai!5 Hn oI ~ ~ lasBo h1ma ~ IN NeW 4ofk
Maat =. tuoY ao "ant u 2 substantial tnaoreomont
~, trost cse't Wien sna oanAets !; ~ NOW 1ork
Ma.t sa atespect; ana WHICH WI encourage them 70
S % ,uute May, "msn ns y maat oo hedt
r,.ks...sssi1 ,,s.0ol - 1870
otstsic, Ill., H., nnus sr'n ~ ~o'-oF heafS~sd one
"fsmitn ~. ~ snme .1a,xuoao nnao'Its. ~ ...,..
1of a.Is LIZ Eulposn W Aseoftalnios
l., tt 1s".Ia =. .tt AatoNu ~ iio1.H AAhaE1n
ai,tn, n.' W e1n psoposeu iuan, tho reporter
,auess T. ,.as ,ndasap possonf IN mo eanEng
stntni tf.t tfasor Toi.i., a., =" uas ooeu potoIo
hnfJ ,noat;nT 1or 1i,a 1..,..o.o ~. e9u teA 70
othar nv ,ent ~ thov wv r,r ..
insn snd a. flrat ths ,snn3t"- cc,,n,.T & snsa
'imopt ~ s1nSnsvnlv - ,,psstin,s n.nse!s
n.S"s. .tV ~ A1ens'ea." 4oha4uA LUIS
rontiomo ysitei 1nesv anvthinn. nome e
soufornnco nor had nsv.oe tc a.a, so Hou
rnco Friav Fr1sv ntrht tho Mavor to
~ IN fonr;roitar |i}nva. thst H. ~ ~ ils
hut th.t Il iasat 3 0aa vn,a ~ aa ~ no 1osn aonns
IL ti'o cttv T +, Mnndav "I nioht " .nI "i1a91 !,
va unnnosca tint tho hMrvor hal
"on,o ,,,,,ta".'or ~ ttto nsa
~ ia law" h,t - * ~ r. rn' ~ cnrta,. ti,et
nona ~ T tha, @ nrnm;nont hantars Enou nnvthtn~ as
sGnu. .,,e, ~. trnset"m 1sas;,ana na'.t, .xnR
so',, ss snsn ~ ,a M:vors III agan H.; sas
rasa rs Jnso,,,oa nv ~ II, a .s,ordaa .n,a;a
10 rst ~ ,a ana w" 70 sooo conS'a"