The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-02-03
q3itllmond 1ispatth.
-,.s,,y FEBRUARY 8. 1850.
prTrRsyuR(S.

4 II.
COMMON COUNCIL IMPORTANT kkcoN'
Ths s,'aafIox nY TIE FINANCE COMMITTEES
80 corSc.I. DIRECTS THs sAi.h ot ne
lns IN rng PErgRsBrR0 RAiI.RoAD-AN'
s, ~n MEETING OF TnE FIesT sAbeAIh-
Se,,cot. s0clg1Y-CITY kkcslris AND hA'
s,",Tor7rpYs--ISrCRE.r PAID. &C
,rsrrspoaceace Of the Gich"ond p's'~'Sn ;
-. common Couucllibls afternoon The
~ IVY Co,nm,,;ee submitted an important
flhsu's s.,l,re. the attention OF the Council 10
PAPER he, on tue 1st Of August OF THIS
TIC iS. mo Sie0. 500 OF bonds Is per ceni'l
yeaF' sV mons /. 1868. al fifteen years, iaii
issueu s' ssngyss,inc that The prompt pay
oae' 81" re sanae should be made. and
meh' ', ,I.5si,on be enacted by the Coun-
pIope' 20, md. The only means OF
ca - 49,. nevmcnt is either by the
mee''"s al. 81 O; her bonds. and ircm the
is'ue a." =, .e'e nay the debt, or 10 sell
proC''UV', - 90 {, not absolutely necessary
spcn I'v ,s.,e,,,y. and vita Its proceeds pay
10 a. - m, committee, after carelu'
tae 49, ,be SITUATION. believe that The CITY
I t'.VJ not he benefited by negotiations OF
"o",N ., This fiule. and Il could mol be made
49, - considerable expense; that II
M no ,eee.sarv 70 sell a larger amount
Won.~ 5s ,h,o slg0, 500 in order to realize
o. ".., .,,,,rt In essh 20 meet it, debt on the
taa' ,ng,,- This city owes to-day ST.
~ -. ~ "a ~ bonds. maturing from 1880 TO
TO- pr is charter this indebtedness
I''i' ,.ver exceed twenty-five per cent.
@" ,he total rfal.eStaie assessment.
o.. s.scssrent on the 1st al July, 1879,
~" :, oo5. $50. and the Indebtedness Is
''.,,;n q small fraction OF 20 per cent. of its
',..l nrsSent assessment. This proportion
's, ,er ceptl +, very full one, IN view OF
a. f,ct ma, rcalC>tSte values in this and
III. c;,ic. ~ Virginia are not increasing !;
Sn5 /, * clsimcd by properly-owners that
,Lo rreScri assessment, made IN 1919, IS
-" IN rvrc,, NJ actual values. BY state
&c q ne;y assessment will be made du.
ria, Ibis year. and should the dlmlnu.
800 ~ lie reale,tale assessment OF
tbe ,iiy reach - per cent, aS some
'l,,o,. and This bonded debt remain
,ha ,sme - now, TIE proportion Of debt TO
toll assessment would be about q per
c.r. NJ inc fo.tl: or should the reduction
r.-c5 N pfr cent. md The bonded debt re-
mai, the same. il would amount To about -
,rr cent. mon tie total real estate. The
committee state t1M il is very important
,t.t with the reduction 81 assessment OF
zeal rrorcuy there Should be a reduction Of
fta bonded delft. especially Is the proper
zion the debt ucais 90 its assessed values is
very high. TO accomplish tins purpose,
and nj the same tine meet promptly ihe
b1rd. due August ii, the committee re-
commend the sale Of the 1926 shares OF
picfcrred >.ock I'D The Petersburg aud Wei
don railroad. which have q m0rt.agcd value
Of slG3.jJ0. AID which can be sold Tor the
,.re sum. and ibgt the proceeds be used TO
IavlT the $4,000 bonds Cue next August.
resolution was offered. in connection
with Til rcroit. uEoiizlng the Finance
Committee 90 make sale 81 The $3.50 shares
81 uge,crr,d stock IN the Petersburg Rail-
road Comp8uv a. not less than 100000, the
proceeds "a le applied q above suggested.
The re,o,aiio" was adopted by 4 vote Of II
ayes 10 2n0cs.
The intcru1l-rcVcuUe receipts IN the Pc
tel,huT- ds.Ic; for the month OF Januaiy
amounted TO SC2,Sl0.
The siXt}-ibird annual meeting OF The
FI>, Sabb4th.ScloOl society 81 Peters burg
Vs.. held in the rabb-Slrcet Presbyterian
church sunday afternoon. Reports were
m.de by The various officers, and the fol-
lowing officers were elected for the,enSuirg
wear: President. Charles f. Collier; Wee
President, John Donnan: Librarian, &. l..
Burton; Treasurer, Alfred Wiiherspoon
SECRETARY. e. Il. Vaughan, Jr. Boards OF
Manager, aGd Visitors were also elected,
and number OF prizes were distributed to
mclNonou, scholars. As it, name indicates,
fhi. va the first Sibbath-schOo. society or
eaazed in Petersburg. at the time OF lis or
gauzltion The several denominations in the
CITY uniting with and forming part Of 1t.
It pa, steadily retained It's organization, and
holds lis annual meetInos regularly, though
il now only embraces the school OF the
Taab-Sire,t church.
The tTCasurcI'S report shows than Tho
cash receipt, Of the city from all sources
during the month If January amounted &c
SI.ql2. The EXPENDITURES OF the city during
tAc month, according 10 the Auditors re
port. were Sli.456.
Intc.e,, on the Soulh,ide Railroad bonds
gulraatecd by the city fell due Yesterday tC
The amount Of SIC, 1000. Coupons calling fol
Oytrcue hail Of TINS interest were presented
sad paid to-day, and tie !, mainder will be
plid as fat a. brought in.
one of our dealers In rags to-day shipped
lS0 bales Of rags. weighing $1,000 pounds
10 Baltimore.
4 very large meeting was held yesterday
afternoon al The Washington Street Melbo
dist Episcopal church under the auspicC o
The Young Mems Christian Association. Al
adde's on iLe General Work OF Christian
Associations was delivered by Mr. Cree
OF New York.
snow commenced filling about O'Clock
and ha' blcn falling rapidly all the after
noon. ROBIN ADAIR.