New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-03-23

consideration to have been, we will state
the difficulties which occur to our mind.
/. The city proposes to prefer one
creditor to others.
In doing so it inadvertently confesses
an inability to meet an obligation which
must excite the apprehension Of other
creditors, and which would, in case of an
individual making over his property to
his relations, lead to proceedings in i'll
voluntary bankruptcy. Such q measure
will undoubtedly produce such o pretext
and Intervention on the part of the credi-
tors as defeated the ''project" to which
we have alluded.
We are compelled to remind our patrons
of the Council that those vigilant spins
sters, the Misses Maenhaut, have retained
certain astute attorneys who look down
uron the councillors like q hawk from a
stackpole, so that if any attempt be made
to get away with any corporate property
upon which these attorneys claim that
their clients have a preferred lien, they
will swoop down upon the Mayor and his
covey of councillors, and in a few min
utes there may be nothing left Of them
but their Official feathers. Discarding
metaphor, the sale of incumbered prop
erty will be stopped by Injunction, or the
city. put in liquidation by its own
confession of bankruptcy, may be admin
istered by a financial receiver and a
provisional government. There is also
another creditor on the same track. MI.
Morris Ranger, of Liverpool, protests,
against "all resolutions, ordinances and
acts tending to destroy, diminish or i'm.
pair the guarantees afforded by said acts
of 1852 and 1854, for the payment of the
securities Of the city represented by him
self, the Misses Maenhaut and others.
We apprehend, then, that the particular
preference of one creditor to the preju-
dices of others will not be allowed by the
courts, but will be instantly arrested by
the great American remedy of Injunction.
2. How will the sale Of this. property
TO the fire department relieve the depart
ment? The department pays, as we I'M
derstand, 40 rent to the city at present.
How then would the ownership Of this
property relieve the department? 1t
would be charged with repairs, and,
without legislative Intervention, with
taxes also. Unless the fire department
shall resell the property transferred by
the city how will it be better off? The
city now contracts with the fire depart
ment for annual payment Of a sum which
it says it can not pay, how will it be bet
ter able to pay the contract price and the
added rent which the fire department
will probably charge for the use of the
buildings?
It seems TO US that the city will be
worse Of if it has to pay rent On its "
property than if it allows the debt to
stand as it now does, OF the same footing
Win tnat OK Olner creators.
Suppose it should be alleged by the
Beard of Education that inasmucL as the
property belonging to the city and used
by tire School Board has been a source Of
great expense 20 the city, and the said
property now requires an outlay OF a
amount Of money in order to place
the same in proper condition; and mas !
much as the city Of New Orleans is in |
to the School Board for e large !
Of money for services rendered, |
and is financially unable to make the ex-
pendi.ures necessary for the repairs OF
he aforesaid property, or to liquidate
its indebtedness to the School Board, !
any one alleSe a better reason for
the engine houses to the fire de-
than the school houses to the
Board Of Education? We can see no such
To u mind the scheme
proposed presents insuperab,e difficulties.
Whatever fiscal devices may be proposed
~ or suggested to the city government
Will require the assent Of other parties in
and We can conceive no plan
Which So many variant interests would op-
'ose. Thus far We can not perceive that
he efforts Of the fiscal department have
,een productive of success in advancing
nc values Of city securities, and we really
pr-ehend nothing better from the pres
1T proposition to sell property by retail
the public creditors refused per-
to be sold by wholesale.
'EE CEiRTfR OF THE NORTH-LCUISIiEA
RAILROAD.
The peoIle Of Shreveport appear to