The Portland daily press., 1882-03-23

fed balance of the company obligations given
| to the city, The city declined to receive the
amount, claiming it had extended the debt for
| the term of eighteen years and was not pound
| to receive payment of the same until the expl-
ration of that time, that it could not do It with
| out great "pecuniary loss and detrlment' as lts
| bonds were outstanding which had been issued
| at the company's request in renewal OF the
earlier bonds, and would continue to draw IN,
| terest at a higher rate than could be obtained
on the money rendered in payment
The money was thereupon paid by the com,
pany to the commissioners OF the sinking fund
| who hold the same, drawing only three per
| cent. interest awaiting settlement OF the con-
| troyersy. Actions have been commenced by
| the city for that purpose which will be argued
| before the law court in July next.
Meanwhile an additional sum for interest
growing out OF railroad loans must De PROVIDED
| for by taxation.
have entered thus fully into some features
of our financial situation in order that you may
| see the necessity of guarding carefully against
any unnecessary expenditures which might en-
| tail an increase in the rate of taxation the
present year.
AS regards the condition and workings of the
several departments of the city government,
nv acquaintance with most OF them is yet too
slight to enable me to offer any suggestions OF
value. Later may find it expedient to exer-
else the privilege which is granted to the
Mayor by the city charter of communicating
''from time to time to the City Council, or
either board such information, and recommend
ing such measures as the interests Oh the CITY
may require"
Approaching the circumstances under which
/ am called to the Office of chief magistrate OF
our city deem myself peculiarly fortunate in
/ being associated with City Council which con-
taips SO many members who are identified with
important business interests and who can sup
plement my inexperience by their practical
| Judgment and wise counsels. 1t will be my
pleasure to cooperate with you in every effort
made to promote the interests OF our CITY.
| At the close of his address Mayor Libby
stated that by his election there was vacancy
| in the school board which ought to be filed at
once.
Alderman Little offered the name of Henry
s. Burrage, who, although on the school board
at one time. refused to be candidate when
Mayor Libby moved into his ward. Alderman
Tukesbury moved that Councilman Shaw
throw the vote of the convention for Mr. Bur-
rage but Alderman Winslow moved that the
convention proceed to ballot in the usual way.
The vote stood:
Whole number of votes. ...,......2o
Necessary for choice. .....s........... Ii
Henry S. Burrage had. -. .....-..Ia
Frederick Fox. .....,.,.........'.....9
G, A. Dickinson. ........
The following subordinate officers were
elected:
Surveyors of Ship Timber and Lumber-AlbeE
III. Simonton, Daniel Brewer.
Weigher of Coal--E. L. Ring.
Measurer of Wood and Bark-F. W; Talbot.
Weigher of Coal and Iron-Frank M. Lawrence
Constable-Joseph L. Turkey.
The convention then dissolved.
At later meeting of the Board OF Alder
men, held at u o'clock, Henry P. Cox, AL
phonso L. Gilkey and Alvin Deering were
drawn as jurors for the Supreme Court; John
E. Fowler, A. j. Pickett and Charles D. Dow
for the Superior Court. The bond of Cyrus
NOVEL; as City Auditor was approved.