Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1878-04-03
CITY COUNCIL.

| A called meeting OF the City Couocl Wss
held last night to consider the bill reported y
the Finance Committee, to carry out the proVl
sions of the ,ity debt compromise.
BOARD OF ALDERMEN.
This Board was not called to order untll at
ter pine o'clock, the members having oeen
present in the Council chamber during the de-
bate there
The bill was received from the Common
Council and resd.
Mr.. Strauss moved az amendment to require
the overdue interest to be funded at htty per
cent.
| Mr.. Downham said that this was proposl
| ton which the bondholders would cot agree 10.
The gentleman ) amendment required them to
take fifty cents on the dollar. while the bill OF,
! fered them tax certificates at one hundred
| cents.
The amendment was lost.
COL Reid moved that holders OF overdue
coupons bav: the privilege of funding them as
we'll as the principal.
Mr.. Strauss said that members had mlSun
| derstood his motion, which bad just been de-
feated. He did not desire to scale the interest,"
but to pay it in full less the two per cent tax
Col. Reds amendment tailed for want OF
second.
| The bill was then passed-syes 6. noes /.
After accepting the rcsig of Thos, Ian
| non as Ogerseer of the Poor, the Board ad'
journed.
COMMON COUNCIL
The Common Council gathered thirteen
members at it's called meeting last night.
The chair said that this was called meeting,
and read the order of the Mayor calling the
| Council to meet 10 order to consider the ordl'
nance for accepting the city debt compromise
act and for issuing bonds Hereunder
The report of the Finance Committee on the
subject submitting The ordinance, was read,
and on second reading the bill was taken up
by sections.
When the section which provided that no
signatures should bo Autographed except that
of the Treasurer, was read. some Informal dis
cusson took place as to whether 1t was sale to
have the signature of the Treasurer, which was
the ouly one 90 the coupons, Autographed.
MIR. Latham doubted the proprlety of this,
and said that the Corporation Attorney, 10
view of recent developments 10 the State, be
ieyed that it was best that all possible guards
be thrown around the issue OF these coupons.
The Corporation Attorney said that the State
had suffered considerably from Autographed
signatures. In this cas-, there would be 6O
signatures of tho Treasurer required to each
bond, and there would be 1880 bonds. and
even at the price of more labor it would be bet
Ter to have the fullest security. Then, too,
MIR. Harlow. the present treasurer, might die
or retire before all the bonds are issued. and
his name autographed on the bonds would then
be entirely uosullcHe.,
twas agreed TO strlSse out the exception and
forbid the lthograpbiug G. any OF the sigma
lures
MIR. Evans expressed some apprehension, lest
the plates Of the bonds should be LETT behind
in New York.
MIR. Latham said that the Finance Commit
tee would sac that the city owned the plates,
and that they should be placed 10 the custody
of the Mayor as soou as the bonds were pre-
pared.
MIR. Evans desired that each of the new
bo,,ds might show the numbers OF the OLD bonds
for which it is exchanged, but no action was
taken on this suggestion.
The bin was then read the third time and
nassed unanimously, aud after a recess until
the bill had been passed also by the Aldermen,
the Board adjourned.