The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-09-09

uar conforming TO the aforesaid rules or provisos
OF the finance commit co.
That the said 1906 600 of bonds never actually
left the custody Of Mr.. Thomas Layton, .presi.
dent OF said Southern Bank, who is resident of
New Orleans, ON said Goth Of July, but were BY
him retained and some time subsequently taken
by him, with the knowledge and consent OF said
Dubuclet, to the city OF Now York, and there dis
pc cd Of at discount OF 2lh per oentum.. That
returning with the proceeds Of said bonds, An
tome Dnbuclst undertook the purchase Of Me-
tropoltan Police warrants, and finally after nucl:
litigation between himself and the Metropolitan
Police Board and its pretended treasurer, about
1851, $40 % in police warrants we're obtained by
the Metropolitan Police Board as the result Of the
use made Of the said bonds OF the city OF New
Orleans by the Southern Bank, Thomas Layton
and Antoine Dubuclet.
That the Southern Bank. m fiscal agent waa
specially charged by said act No 49, with the GUS
tody of said bonds, and IL was made its duty not
to pay out said bonds except for debts Of the city
o. Now urleans existing On the t#enty- seventh
OF February, 1869, and only for such debts 40
would appear in particular statement, to be pre-
pared by the City Treasurer and Controller and
verified by the Mayor and the members Of the
should not be used at discount.
That in violation OF it's trust in opposition To
said act and against the rights OF petitioner said
fiscal agent gave out said bonds without any
such statement 40 that required by law, permit
ted them TO be discounted at loss OF 2iL cents
on the dollar. and assumed to pay them out for
an assessment which was not, and was not even
claimed to be debt Of the city, whose only obli-
CATION was to levy tax, in the collection Of
which the city was merely an agent and
not debtor. That ordinance 14gl, N. g., did
not authorize the use OF said bonds for tho
Metropolitan Police apportionment, and the
finance committees were poweress so to do.
That even If said bonds could have been issued
TO pay tbe said police apportionment, not more
1851, $40 ~ can by any pretext be claimed TO have
been retired by the aforesaid illegal use OF
100000 OF the said 7 per cent bonds, leaving
t276, 6g1 "a of said bonds outstanding against the
city. without the least consideration having been
received therefor, together with oil the coupons
attached to the whole s505. 600 OF bonds, amount.
ing to per cent per aDnum thereon from
tine 1st OF March, 1869, for twenty-five years,
making the sum of 81 ,41s750 in interest alone;
whereas the city OF New Orleans never did ana
never could owe any interest whatever on the
metropolitan apportonment Aforesaid.
That none of the said acts OF the Southern
Bank. Thomas Layton, ESQ.,, or Antoine Dubu-
clet could impair or divest the tight OF the petit
toner TO recover from them the said 1906 900 of
bonds with oil the coupons attached, or to require
OF them the amounts thereof In lawful money.
Wherefore, petitioner prays that the Southern
Bank, Thomas Layton and Antoine Dubuclst be
duly cited to answer this petition, and that after
duo course OF law they and each Of them be con-
condemned. in sodo to return unto petitioner
81 5000 Of the per cent bonds authorized by the
third section Of act No 40 OF the acts OF tho Gen.
eral Assembly Of 1869, with all the coupons at
tacbed, for per cent per anIum interest for said
bonds from the first OF March, 1869, for twenty
five years, or in default Of so doing thai they and
each OF them be condemned, In solido TO pay
unto petitioner the sum OF s805,0o0, with per
cent per apnum interest from ii st OF March, 1862
for twenty-five years.
Further, petitioner prayB for costs and for all
other aid, relief and remedy which the premises
require and the law permits.
SAM'P r BLANC, OF counsel.