The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-10-03

no..
Mr.. Glynn gave his reasons for thus voting
as follows
| vote no on the resolution to adjudicats the
| right Of way OF the city railroad lines expiring
| In 1880 to the New Orleans City Railroad Coin-
| gany for reason that, LAGER AMOUNT than
| this corporate MS bid has estab ahed fhi- fact
| % ny satisfaction. In Ct there Is g standing
OFF, Of q larger amount mA.e With all ne
70 insure the payment Of the money. Z he arg, Y.
mont Of tho mai rity Of the Council that $3.50 600
| effaat greater reduction Of the city debt than
$3.50 600 or more realized next year does not
strike me as being sound business DropDsi-
| ton.
| Mr.. Cheval1ey then gave his reasons for voting
yes In tho following words:
| shall vote for the resolution accepting the
bid OF the, fly. lsailrond Company for the rights
| OF way offered for sale by the Common Council.
| /. After three, month"; advertisement In the
journal Of this. city and several other CONNER
ey bas as e IL. ay ana
That Of The CITY Railroad Con pany sxceeded
Increased this offer by con tenting to pay the
amount - cash, wit out awaiting the expire,
ton Of their present franchises. which Will
only terminate In February aud Jnlv OF next
! year: cash In band Is worth more than party's
promise to pay at future time. NO matter how
| O. No other parties offering to purchase said
! right Of way. haye proposed to pay the amount
of their bid before beiug placed Ia acual pos
February and July of next year. IT, deliver
possession to any nne ella the city would rave
to run toe risk OF AN arbitration. possible
appeal from tho decision OF tho arbitrators and
prof. erty Of the City Railroad Com any, the ex-
tlon in the courts, ana blu q equity and tic
| appointment Of q reeei or by the Federal court
q the ins tanee OF some for ign or non resident
1 nah IN Ayh al lftAft fnli nru
could be post Q ed 70. years. the city deprived
Of the price. and large sums consumed In profit
With much respect and sympathy for the
members Of tho legal acknowledgement who are
skilled Ia the mystery Of laws-I think il good
| uoficy for rs to avoid contributions to their de-
pleted exnhenuers, esnecially q, the expense OF
an over.debt-bur dsned city, II Il Q true max
| i'm, and one worthy to be followed IN public as
well rs In private affairs. That u bad comuro-
mise Is preferable to q good lawsuit The City
| railroad Company being a'read y in possession,
the difficulties Of delivery are thereby sur
Considering the present low prices Of city
securities and their probahle enhancement 10
alfz,d. invested a5 the premium bond act re-.
CURES u TIE purchase Of ,; portion Of our
Of our liabilities at this time than s75o,coO Will In
four and nine months hence. Who ean foresee
future events or forete'l what may transpire
i ,y Was sosE ays s e Zeal VIII M bs
realities of me present, and not with the IDEAL
tiles Of fnturity. I, Is vain for w. 20 attempt to
| upon us by tue eitizsns of this great CONNER
| eial metropolis. Proorasi ination and delay In
| daa Ing with our financial mutt. r. have bet
the'chi characteristics OF pGst inisrai Ions
and W. are pnW struggling under The burden Of
| debts created BY them, Let us strive 70 avoid
tneir errors by reducing the city debt TO the
lowest limit possible with the resources at our
| command.
/. consider the City Railroad oompan1's bid
| n far ona 1t fur exceeds the expectations of
| most
that the stock Of this company Is for. the most
part owned BY Our own citizsus; that It has
| paid and will continue to pay large amount
annually into the city treasury In the shape OF
taxes upon Its capital and property during the
term iof which ths privilege to them continues;
| recadr from the proposition taken by us In add
vartisipg. these rIghts OF " for sale TO tns
| faith with those from whom WI invited offera.
| and allow ourselves to be Influenced by prono-
sitions subsequently nude by disappointed bid
ders. and which they may never execute.
| Ever since the bids were opened myself and q
majority Of my colleagues had resolved 10 nc-
cept the City Railroad Company's BID, and the
reasons for til. delay. as you, are we'll assured
In consummating this adjudication was tor the
purpose Of enshlipg thee' mPany to raise the
from the capitalists OF this city.
Epp ess n vote re
bility for my action.
Mr.. Isaacson also explained his vote as fol.
lows:
In casting my vote In favor Of accepting tbs
New Orleans City Railroad. ~ per sealed pro.
posals on September !. provided the raflront
company make present payment III cash. de-
sire tn have my reasons spread on the minutes
/. The City Railroad Company are justly en-
titled TO consideration because they were The
projectors Of the routes sold. and they have
faithfully discharged their contracts by keep
ing the streets and their rolling stock in proper
all ordinances Of the city government. and have
prom pity paid annual large sums for taxes o
the city. Their relations with all our pr.edeces
sora iu Office have been Just correct and satis
factory.
In consideration of the fact that the city has
advertised The sale Of the franchises and riRh
Of way at present owned by the City Railroad
not only In the cities Of the East and West, .bu
also In New Orleans. as III to be adludicated t.
, tion that the company have been thus induced
TO take aa 1t we're leap 10 the dark and off.r III
scaled proposals sun largely fn excess OF our
| most sAngnine expectations. and $4,000 more
than any other bidder ut the sale advei ttsed. II
my judgment they are fairly entitled TO an adj
Indication.
D In view OF the unfortunate financial condi
ton of our city. there ping judgments ags tns
the city for more than 100000. and considering
, floating debt that might be quickly converted
into judgments am prompted to cast my vott
the sae Of the r. ba she b ssW 9
cash In order to apply the same at once as the
law directs.
s. Ii deserves to be noted that, the .Circui
, Court Of the United States. Judge Billings
presiding. lately compelled the ,t SAFE O. tht
satisfy outstanding Judgments Of the Federsl
eoar,s Why AK m,gdat not thr franshiss
, lost to the city or tied up in courts2
t s sncere eonyGon 4 t b. Inesg "
guishment Of the public debt. complication
will arise and tho responsibility rest, upon as
owing to our. failure to act promptly In tn
; premises, OF having deprived the people OF thu
benefit to result from the reduction OF. say
80 800 900 OF the existing debt.
Their delay, or the rehabilitation 80 eagerly ad
vocated. For my part, ], perceive In della.
, nothing but danger and public disaster.
Messr4. Behan, Marks and Mealey gave SINH
lar explanations, wherenpon Mayor Pattol
vetoed the ordinance. giving his reasons in tn
following words for doing 80:
To the City Council:
Geatsemtn-I regret that for the first tim
H4