The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1880-04-15

Total, 90
As against this year.
so r. R. Bonds 500 each S5O0OO.OO
) Certificates TO the State $400 each 20,000.00
Total. S.OGO0O 90
Cash in city treasury 81, I3S. L.
| ManitOwOc county owes city $500
Total available funds s3,I7412
Which amount stands credited to the
following funds:
General city fund S2.31I16
First Ward Fund 1873
Second Ward Fund I42.04
Third Ward Fund l5f.6l
Fourth Ward Fund 1885,
North Side Park 90
| Washington Park 1864
Custer street i269S
Total, s. 114.I2
One year ago I recommended the re
funding of the Il. r. indebtedness into
state loan. This recommendation was
made on the ground that [ was informed
the bonds were freely offered IL the mar
llet at about sec on the dollar. After the
board resolved to make negotiations for
the purchase of the bonds, it seems the
holders have better appreciated the value
Of their property and have advanced the
price. So far we have only obtained
2s25, 000G at an average price Of 82i per
cent. Of the face, fer which we issued
certificates to the state, amounting in all
| to $50, COO. [ would recommend that all
bonds offered at reasonable rates be re-
| funded into q state loan out of which
| $40, 600 are yet available to lis for that
purpose.
The city may be congratulated upon
the termination of the Doolan case, the
| Judgment against the city being reversed
| by the supreme court, the case dismissed
and the costs which the city has paid be-
ing refunded. The case of T. G. Shove
vs. the city was tried last January but
mas not vet been decided, Judge Mclean
still holding 1t under advisement.
Two suits have been commenced against
| the city recently. The first being by C.
| Pfister, OF Milwaukee, who holds SIS, 600
railroad bonds, and demands an order
| from the court to compel the board to
levy tax next fall to pay for interest
| due and to become due on said $l8, 1000.
! and also to establish o sinking fund.-
The case is to be heard before the circuit
/ court at Sheboygan, Monday April Is,
| 1880.
The second case is by Charles Luling
which is returnable before justice ". ".
| Waldo, April Is, 1880. So far as 1 can
ascertain this action is brought to obtain
| the interest on one coupon, $40.
| The city property and that under its
| control is III good condition except orr
harbor. Unless through some unforeseen
agency the channel should be deepened
/ it will become q serious consideration for
/ this board to take the matter in hand in
order that we may not further lose the
| reputation of having the best harbor on
the lakes. Respectfully submitted,
| JOHN SCHUETrE.
The rules of order of last board were
adopted by the present board. The clerk
was instructed not to order any printing
until further instructions.
The board proceeded 10 tie election Of
city officers. The list is given elsewhere.
A resolution was adopted unanimously
authorizing the clerk to receive sealed
| proposals for the city printing.
\ correct survey of Washington street
and au ordinance establishing grade On
same were ordered.
! The marshal was instructed 10 notify
saloon keepers not to give or sell liquor
/ TO Eugene Lind. The license for the
/ ensuing year was fixed IS follows:
! Retail, $50. Wholesale, go.
! Adjourned for one week.
/. ID. JONES, CITY Clerk.