The Portland daily press., 1879-03-11
INAUGURATION DAY.
Organization of the New City Govern,
meut.

OfSanIZutIOm OF the New City ~OEefh,
Both boards of the newly elected City Coun-
Gil assembled yesterday morning for the pur.
pose of organization and to inaugurate the
Mayor elect, Hon. George Walker. There was
large attendance.
THE BOARD OF ALDERMEN.
The board of Aldermen was called to order
by the City Clerk, H. L. Robinson, who read
the record Of the election. Alderman, W. T.
Small of ward was chosen temporary chair
man.
Alderman Andrews Of ward was appointed
a committee on credentials, and subsequently
reported the gentlemen in the seats duly elect.
ed Aldermen.
message was received from the Council,
that temporary organization of that body bad
been effected by the choice Of Councilman W.
M. Marks of ward for temporary President,
and L Clifford Wade, Clerk.
A message was sent to the Council aunounc-
ing the organization of the Board Of Aldermen
and asking joint convention for the purpose
of conducting the Mayor elect to the chair,
and administering to him the oath CT office.
THE COMMON COUNCIL.
The Common Council was called to order by
the Clerk, L. Clifford Wade, and was orga-
nized by the choice of W. NJ. Marks Of
Ward 6, as temporary chairman A commit
tee composed of Messrs. Dresser of ward 5,
Abbott of ward 3, Haskell of ward 1 were
appointed on credentials aud reported the
gentlemen in the seats duly elected
Messages were cent to the Board of Alder
men announcing the temporary organization of
the board, and accepting joint convention.
IN JOINT CONVENTION.
The board of Aldermen adjourned to the
Common Council chamber, and the two
branches, in joint convention, organized and
chose Alderman w. T. Small of ward Z, as
chairman.
The city clerk then read the official record of
the election of Hon. George Walker as Mayor
for the ensuing year.
Alderman Cunningham of ward 2, and
Councilmen Chaplin of and Abbott of 3, were
appointed committee to wait upon the Mayor
quest his presence.
The Hon. George Walker, Mayor elect, then
appeared, accompanied by Mayor Butler, and
Rev. Mr.. Hincks of State st. church, as chap
lain, and took the oath of office administered
by the City Clerk.
The City Clerk then administered the oath of
office to the Aldermen and Councilmep.
The Rev. Mr.. Hincks offered prayer.
The Mayor then delivered his inaugural ad-
dress:
Gentlemen of the City Council,-I assum-
ing the office of Mayor of this city, it is
proper that should allude to some of the
circumstances that will lie in the path of my
duty. and may cucumber my administration.
High rates of taxation, general business de-
preston and financial embarrassments every
where, have made the people impatient and
disconnected. They naturally look to those
in the exercise of official trust for the needed
relief; more is expected than will ever be
realized. The comparatively brief period of
time that have been resident of Portland
has given me no opportunity to have that
familiarity with the people and their municipal
wants that should have. am aware too
that between myself and a majority of this
body there is not entire political accord, in
our party affiliations. But our duty is to
take care of the best interests of the city, and
in this I trust there will be entire accord, and
but one party. In this hour of distress, and
alarm, even, party interests, and party lines,
should be obliterated. Party preferences. and
party animosities distract counsels and intro.
duce friction into governmental machinery,
that causes a loss of strength and velocity of
motion. The able and efficient manner in
which my predecessor has discharged the
duties of the office,is such as to make rivalry
difficult. Asking, therefore, your aid, and
invoking the Divine blessing upon our joint
efforts, let us go manfully to the duties
assigned US.
The following is the
FINANCIAL EXHIBIT:
Gross City Debt at le end Of the last fiscal gear
March 81, 1878.
Total debt, including municipal bonds
issued to Atlantic and st. Lawrence
railroad company, $4,000 800
Building loan bonds, 405, 900
Bonds issued in aid OF
Portland and Rochester railroad, 100000
Portland and Ogdensburg railroad, 100000
s5.5o7,soO
Paid during the gear.
Municipal bonds, $lOs 500
Building loan bonds, $4,000 1ss,S0O
Gross debt March 6, 1879, s5,8l9,lO0
Net City Debt.
Deduct from gross debt:
Available assets, consisting principally
of 100 shares gas stock, par value
Sinking fund March 81, 1879, about 229'672
Building loan bonds, secured by first
mortgages, with sinking fnnd of about
$16s,0O0. Originally $895,000, now $4,000
Bonds issued to Atlantic and st. Law
renee railroad, secured by sinking
fund of about $780, 900 and first mort.
gage of franchise and property from
Sl,5OO,0OO, now $4,000
Total deductions, sl,45l All
Gross debt as above, 5,319,l0
Net debt, $S,ss7 $3.50
Exclusive of the Portland and Rochester rail.
road sinking fund, which now amounts to about
$1,000.
At least about $4,000 will have been add
ed to the sinking fund for the year, which
has gone towards the payment of the $685.
800 of municipal bonds paid-showing a
decrease during the year of the net city debt,
Gncluding $4,000 of building loan bonds
paid and cancelled and above amount put
into sinking fund.- &c., $l51,l50. All inter-
est, including interest of $500 on railroad
loans, has been included in the appropriations
the past year, and paid from receipts from
taxes. Nothing has been charged to the
sinking fund except bonds matured and paid,
according to the ordinance for which it was
established.
The city has no floating debt and all cur
rent bills of the year will be paid from cur
rent means. $SS,5OO of municipal bonds
mature during the year 1890 to be paid
from the sinking fund.
I can forecast no detailed line of conduct
to be pursued. Much must be left for deter
mination as each emergency shall arise.
The great purposes for which our munich
pal organization is established, must be to
provide for the schools, the streets and side
walks, drains and sewers, the public health,
the police, the fire department, the public
property and the public debt.
In your future provisions for all these pur-
poses, the people demand, and justice re-
quires, that you should exercise economy in
every department. In fixing the salary of
those in Office, and in fixing the compensa-
ton of those in the employ of the city, there
must be revision and reduction to correspond
with the increased purchasing power of
money, and the correspondingly diminished
value of other property. Tie city pays in
money. The merchant, the mechanic, and