Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-03-06
THE RECEIVER.
The Report of Judge Latham, Receiver
for Memphis. Filed In the United
states COurt-The Funds taken
Charge of by the Receiver.

Monday last Receiver Latham filed a re-
port IN the circuit court of the United States
| for the western district of Tennessee, and IN
| the case of Robert Garrett & Sons ct al rs.
| the City of Memphis. The report goes on to
state that the receiver on being appointed
| and giving bond. went to work and provided
| for the safety Of the tax books and other rec
| ords, and the collection and deposit of the
ire and police fund for Immediate distribu-
| ton, and next the collection of the various
funds in the hands Of persons mentioned in
the decree entered in tho cause. The state
ment of such collections are as follows:
Police and fire fund, $7430 36.
General fund, $685. rs. This fund is for
| the purpose of paying all the current expenses
for the respective years, other than the fire
and police departments.
Judgment fund, 1921 81. This fund has
heretofore been devoted under the charter to
the exunguishment of Judgments for dam
ages against the city, and does not pertain to
the bonded or floating debt.
Frank mandamus fund, 1888 az.
Sundry mandamus fund, 1875, $1016 49;
for 1876, $l1l4 rs; for 1877, 1924 II; for
1873, $32, 55I Is. These funds are tor the
purpose of paying off the mandamus creditors
of the city upon the matured bonded and
floating debt for these respective years.
Interest fund. IS "a.
Wharfage fund, s4103 50. This fund un-
der the charter is devoted exclusively to
making ana repairing the wharf and land
ing.
mississippi river railroad fSpd, $40 As. This
fund is for the purpose OF paying matured
coupons interest upon bonds issued In aid of
the Memphis and Paducah railroad, not
otherwise sued upon.
Brown mandamus fund, $3203 rs. This
fund is for the purpose Of paying I. E.
Browns judgment against the city of Mem
phis.
Reimbursing paving fund, $40 20. This
fund Is tor the purpose OF relmbursIng par
ties who had paid contractors for Nicolson
and stone pavements.
Sundry Indebtedness, 1876, $151 As. This
fund Is for the purpose of paying certain
creditors OF the city who are not embraced IN
the sundry mandamus levy of the year 1876.
Interest on compromise bonds, $40, $40 %.
This fund is for the purpose OF paying coupon
interest on compromise bonds.
Sinking fund, S349 Sc. This fund is for the
purpose of retiring compromise bonds.
The total sum collected and taken charge
of 10y the receiver amounts to $70,5l2 Of.
The receiver states that the said sum above
given has been deposited in bank to the
credit of the clerk of the United States cir
cult court. In addition to the report, it is
stated that all the officials Lave delivered to
him all the records as required by the de-
cree and all the personal and real property
belonging to said city In their possession or
control, except such as was excepted by order
of the court, etc. The report is signed L. J.
Latham, receiver, etc.
On the third Monday of May next, the ar
gument of council will be heard before Judge
Baxter, or probably some other judge, on the
validity of the appointment by HIM of q re-
ceiver to take possession of the assets of the
old corporation of Memphis. By that time
the answers of many Taxpayers and others
will be fled, and the arguments will take a
broad field, involving all the questions raised
by Judge Baxter IN his eripa1te decree. As
differ in opinion as to the effect of the same.
Many claim that people should be careful
how they pay such taxes to the receiver of
the United States court, because it may turn
out that Judge Baxter has been in error in
the matter and his rulings in the case may
be overruled. Be that as it may, the matter
will go over to the May term of the court,
when the entire question will be learnedly
discussed and settled by competent authority.