The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-07-02

MAXWELL L. .CLARkE-OTHER MATTERS.
The two branches oi the recenty.elected
City Council met Yesterday for organiza-
tion-the Board OF Aldermen at II noon,
and the Common Council at Z. NJ.
The hoard or Aldermon.
The Board OF Aldermen met in the Coun-
Gil chamber at 12 O'Clock. Present at roll
CALL Messrs. Barksdale, Bass, Cabell,
Crenshsw, Crump, Dickerson, Gasser, Kel-
ly, Rankin, Saunders, Scott, Smith, Todd,
Wagner, Wexford. Williams. and Mere
ditb.
The body was called TO order by Dir. Z.
G. Howard. clerk OF the Board.
On motion OF Mr.. Dsrksdale, Dir. William
II. Williams was requested TO preside.
The Chair stated that the body had been
convened for the purpose OF organization.
ELECTION OF PRESIDENT.
Mr.. Crump placed IN nomination for the
Office OF President Hon. John A. Meredith,
and made an appropriate address.
Mr.. Bass seconded the nomination.
Judge Meredith was unanimously re-
elected and took bis seat.
In thanking the body for this mark OF
their confidence, he referred 10 the fact that
1t was the third term; but he would raise
no objection TO his election on that account,
and would endesv0r to discharge the duties
Of the Office faithfully.
RULES ADOPTED.
Mr.. Scott, OF Jefferson Ward, presented
a resolution adopting the rules OF the former
Board for the government OF this body.
Agreed to.
CLERK TO THE BOARD.
Mr.. Williams, Of Marshall Ward, placed
in nomination for the Office OF clerk OF the
Board Mr.. f. &. Howard.
Mr.. Batksdale inquired whether 1t was
necessary 10 reflect q clerk. or, rather. whe-
ther he did not hold his office during good
behavior.
Mr. Todd inquired whether il another
citizen should aspire to the position he
would be debsrred from contesting for the
office.
The Chair replied that the clerk to the
Board OF Aldermen held his office until his
successor is elected.
There was a long discussion upon Mr..
Wilhams's nominations discussion not at
all in opposition to Mr.. Howard, but only
evinced a desire on The part OF the Board to
pursue the right course.
Finally. after the rules and charter bad
been read, it was sgreed to elect clerk,
and so Mr.. Howard was unanimously
chosen.
BONDS OF OFFICERS.
Mr.. Scott, OF Jefferson Ward, presented
the following. which was agreed to:
Resoiued by the Board Of Aldermen Of
the CITY Of Richmond (the Common Council
cOncurring), That the Committee on FL
nance when appointed by the presidents OF
~ ho a
and they are hereby. invested with full
mower and suthority t. decide upon the
validity and sufficiency OF all official bonds,
and fully TO accept the same in the name
and behalf OF the city, except the bonds OF
the Auditor the Treasurer, the Collector OF
Taxes. the Commissioner Of the Revenue,
the CITY Sergeant, and the High Constable,
which are by the charter required TO be ap-
proved bv the City Council and entered
| upon their records. The bonds so accepted
by said Committee on Finance shall be re-
turned TO the city clerk with the commit
ftee's endorsement thereon. and said clerk
shall fle the same.
JOINT MEETING FIXED.
Mr.. Scott presented a resolution request
ing the Common Council to meet this body
in JOINT session on Friday, July ID, at
2. NJ. Agreed to.
HEALTHY FINANCIAL CONDITI0N-LAsT RE-
PORT OF TuH FINANCE COMMITTEE.
Mr.. Scott presented the following report
from the Finance COmmitte, which was
read and agreed to:
The Finance Committee Of 1873, whose
functions end with the Council which ap-
pointed it, desire, in this their last official
net. to place on record for your information,
and in justice 10 the Council OF 1878 80,
the following facts: Immediately on the
organization Of this committee on the 10TH
July, 1878. the City Auditor addressed to II
a communication calling attention 10 the
urgent necessity for immediate temporary
loans to carry on the city government. The
baIf-yearly revenues from taxation had lu>'
been collected and expended, leaving
temporary loan OF 100000 outstanding al
that time amounting TO s.. Tht
amount expended by the city for discount
and interest on temporary loans In the yeai
1873 was s5,79s; in the year 1879, Sill
and in the year 1880 to July Isl, s953.
The outstanding temporary loan at thl'
date--tO wit, the Both June, loS0-s So3'
600. OF which $4,000 falls due on the 2t
July, 1880, and which will be retired IRON
finds now in the treasury, leaving in reality
only 4 temporary IOih VI @A'tVVV
ing. and which falls due I'd August, 1880.
Tbe outstanding floating debt on the IS
February, 1879, the commencement OF th'
fiscal yesr OF IS79-'S0, was $4,000; that II
TO saw that the deficit in the revenues, OIL
the expenditures in excess OF revenue
amounted on that day to that sum.
You have already been informed that by
the 1st day Of February, 1880, the com
mencemcnt OF the present fiscal year. tina
floating debt had been oXtinguished, an(
that there was balance left in TIT
treasury of Sl7,531, and no outstandin:
temporary loan; thus showing an excess
revenues over expenditures 10 that amount
the rate OF taxation remaining the same.
These gratifying results are due to fh'
wise conservatism Of the Council In rigidll
anhering TO its determination 10 keep eX
Denditures within the limits OF the reye
nues, and in carrying out in It's actual al
mnistratiOn the resolution which IL nae
adopted forbidding committees 10 eXpent
i'm any year more than the sums appropri
atcd to them for that year.
This committee respectfully urges upor
the present Council the propriety and th(
importance Of adhering to these funda
mental principles as the only true basis O.
the administration Of the finances.
The credit OF the city is to-day as hlgh al
that OF any other city in the country, ant
the same policy continued by you Will no
ONLY maintain that credit, but VIII enhance
the value of its securities as safe ana re
liable mode Of permanent investment.
This committee entertains no doubt ina
the appropriation OF $3.50, 900 In per cent
bonds, made by the last Council, VIII 0'
readily placed-certainly at par ana interest
and probably at q premium.