The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-05-08
WATERWORKS STOCK.
SALE OF THE SHARES HELD by TIE
CITY.
y Protest from the Counsel of the CITY
Incidents MT the Sale.

In obedience to four writs OF fleri faclas, is-
sued In the several cases Of John Klein vs.. City
OF New Orleans. j ohm A. Morris We. City OF New
Orleans, and freeman Clark Vs. Jefferson City
GasIight Company and the City Of New Orleans
United States Marshal Jack Wharton yesterday
sold. In front OF the main entrance to the Gus
tom House. all the right. title and interest OF
the city OF New Orleans In the New Orleans
Waterworks Company. consisting OF 4344 shares
OF The capital stock Of the company.
The proposed sale created some little com
motion on Carondelet street and at noon yes
terday. the time fixed for 1t to take place. a
large number Of the most prominent brokers
and heaviest operators were In attendance at
the appointed place.
Promptly at Il o'clock Marshal Wharton
appeared, accompanied by deputy. The rat
tie OF the call drum (which had been deafening
persons in It's immediate vicinity and exciting
people who were squares away was stopped.
THE SALE WAS OPENED
with the formal reading Of the advertised an
nouncement or notification OF the event.
When the deputy had finished the reading,
Mr.. q. Fl. Farrar. counsel for the city. stepped
To the front OF the crowd surrounding the mar
shal and said: Mr.. Marshal, will you permit
..Certainly," was the. response from Marshal
wharton: this is free country, and you
NAV say and read anything you please It being
pnderstood. however. that am not connected
with what you do s.-
Mr. Farrar then took position on the stairs.
above the heads Of the crowd. and read the fol.
lowing ordinances:
MAYoRAITY or New ORLEANS.
City Hall. May 8. 1879.
mo. bo34. Administration Beries.1
Whereas certain persons. under judgments
II the as ala lie sock
owned BY the city oil New Orleans In the New
Orleans Waterworks Company; and
Whereas the city has taken every legal step
TO preyent said sale from being made to no .pur.
pose and has appealed from the refusal OF the
United States Court to enjoin said sale; and
Of the rights Of the city, who hold said stock ms
a trustee for the benefit Of her creditors, and
Whereus, the city is bound TO resist the des-
tructton OF her ownership In trust OF sald stocR
| ii every possible manner;
Be Il resolred. That the City Attorney be 70.
auested to attend said sale on wednesday the
seventh instant. at u o'clock m, and notify al
persons purchasing said stock that the said
sale Ia null and void and Of no effect, and That
the city will pursue the stock 80 purchaser e ps
pealed to the Supreme Court Of the United
States against said sale. ;, ,,ro
Adopted By the Council Of the city OF New Or
Yeas-Behan. Chevalley. Glynn. Houston
ise''''on' 'a'' - /. W. PATTON. Mayor.
RoBT. g, WooD. Secretary.
He added "On behalf OF the city. | enter q
protest against the sale: =,
The sale was proceeded with. the calls being
for one share. with the privilege Of any NUN
Der not In excess OF 300.
Tho bidding at the start was low. but was run
m in lively manner until it reached $28 pei
share which 1t never after went below, the
IOpeniDg bids being for or over that amount.
! The following named gentlemen were
THE PURCHASERS:
| Isidore Newman. 500 shares at s2S Is.
Isidore Newman, 800 shares at $2S 81.
| Jsidore Newman, 500 shares at 500 1919.
JSidOre Newman. 500 shares MT S29.
/ T. Labouisse, t2g shares at $40 r.. .-m.mz..5. Nm
| +. Labouisse 500 shares at $50 121s.
p Iabouisse 500 shares at $50 12a.
T. Thomas 80 shares at $50 80.
/ j. Thomas. 100 shares at $40. ..#
| L. Lemarie, 10 shares at $50.
| j.. Lemarie. 900 shares at $50 62h.
/ IT, Lemarie. 500 shares at $50 62R. 5.m@
L. Lemarie, shares at s31.
During the progress OF the sale Mr. Farral
announced that there was an unpaid DIVIDEND
| of % per share. and this perhaps had some
| thing to do with the prices obtained.
That the purchasers Of the stock consider tht
| Investment good one, Notwithstanding tht
| sale was made under protest, Is evidenced o.
the fact that notwit hstanding the prices pait
| averaged not more than $50 share, after TIT
| sale 4, WAS held at $32.