The New Orleans daily Democrat., 1877-09-01
MUNICIPAL MATT ERs.
A Correct Statement Of the Report Of the
ArbitratOrs In the Gas Company

A Correct statement Of the Report of th
ArbitratOrs In the Gas Company
Assessment Matter.
The report of the decision of the arbitratOrs il
the matter Of the assessment OF the Gas Com
pany, made by contemporary Is SO terribly inac
curate that we are induced to publish 1t again 81
follows:
New ORLEANS, August 20. 1877.
Hon. j. e. Rengstorff, Administrator OF Assess
nents and james jackson, Esq, President
New Orleans Gas Works:
After very careful and patient investigation O
the subject at issue between you relative TO the
assessment OF real estate and capital involved, we
came to the conclusion that reductions should be
made as follows, viz:
On square No. 4O1, assessed at 100000, re-
ductioD, $4,000.
on square No Nc. 4o7, assessed at 100000, re,
On square No. 372, assessed at s1OO. 900, re-
duction, $40, 600.
On Office and building occupied, assessed at
$4,000, reduction, $4,000.
This leaves all the rest Of the real lestate as
agreed upon between you, and which did not
come under our consideration.
Regarding capital, we think u, 100000 fair
estimate.
We cannot without elaborate and tedious ex-
plantations clearly convey reasons that have in-
duced us to arrive at our conclusions. but would
briefly state among them are our estimate OF the
valuable franchises possessed by the Gas Com
pany on the one side and on the other the vast
falling off in the consumption OF gas consequent
on decreased prosperity OF the community, the
deterioration OF value in much OF their property,
and greatly reduced cost OF materials largely
used by them In construction, etc.
We cannot close without stating that TO the
courtesy of the officers of the Gas Company,
and valuable aid extended to us BY MIR. w, A.
Freret, our labors have been greatly lightened.
You're, very respectfully.
LIONEL O. LEVY.
ARCHIBALD MITCHELL
Thus, it will be seen that whilst the arbitrators
have reduced the assessments on such real estate
Of the company as was referred to them for val
uation, they have maintained the estimate put on
the capital Of the company by the Board Of AS
SCISSORS. 1t will be remembered that the com.
pany asked for reduction on their capital to
s1,0O0,O00. In the aggregate the Gas Company .
property is assessed at something over 100000
more than IL was last year.
THE FRANKLIN TEMPERANCE HALL
Association, whose building 10 situated at the
corner of Spain and Rampant streets, having ap
piled for reduction OF their assessment from
$4,000 to $4,000, on the ground that the building
was partly used az Sunday school, the matter
was referred to arbitrators They being unable to
agree. called in On umpire, who decided the
property to be worth $1,000.
Actual calculations made at the City Hall
shows, 1t is said, that in all cases where arbitra-
ton was resorted to the assessments of the
board have been reduced,
ON THE AVERAGE.
only six or seven per cent.
The Mayor has not yet signed the navigation
bridge ordinance. II was currently reported at
the City Hall that Administrator McOaffrey
had applied for writ Of injunction against
the Mayor enjoining him from signing
the ordinance, and that the Injunction was
actually in the hands Of deputy sheriff. Up to
the time we went to press, ii had not, however,
been served on his honor. There are many ru-
mors afoat regarding this injunction which, it is
said will provoke lively times in City Hall circles
IL IL is issued.
AFTER THE BROKERS.
The several brokers who offered bids for the
$20O,000 premium bonds, advertised for by the
city few days ago, are short over 100000. The
reason being, it is believed, that they cannot
sover all their bids, owing to rise in the market
II is said that may haps they thought that the
city would only take one-hslf or one quarter Of
the sum, and hence they played bold and now
that they find that the bonds have gone up on
the
STRENGTH OF THEIR VENTURE,
they are hiding their heads. II IL turns out that
they don't come up to the scratch fairly like men,
hereafter all bids OF this kind may have to be &C.
companied by deposit Of ready cash as pledge
OF their earnestness.