Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-12-29
COMPLICATIONS

on Account Of Useless Dis
tinetiOns Made
by the Legislature-Iate Account
Of the Affairs OF the Reeeiy.
er's Office.
A Forest of Figures TO be Hunted
Through Whenever Bill is
to be Paid.
In February, 1879, the charter of Mem
phis was abolished and the present system
of city government begun. 1t was rad-
cal remedy, and caused national speculh-
ton as to how large municipal corporation
| could go into bankruptcy, as it were. and
| have its affairs wound up in the hands pf
! receiver like simply an insolvent firm. 1T
was ridiculed as lnpracticable. No eityl9f
the world, even nom the days of ancient
| Memphis, had ever been brought within
reach of plain, everyday business prinei-
Piles, and the idea OF applying the methods
OF ordinary business affairs to the conduct
of a metropolis was too preposterous, how
lever plausible, to be Seriously con-
sidered. In desperation Memphis
made the experiment. The splendid
results of simplicity of government,
economy and judicious expenditures are
exhibited in every direction. These are
palpable things that show from the house
I 1 = g \. 1 II
their relation to the new are not so plainly
seen. They are still matters of speculation
and inquiry. Desiring to respond to the
public wish for information on these
points, an APPEAL reporter, after review
ing the history of legislation upon the
subject, called at the office of Mr.. Laurence
Lamb, receiver for further information.
The Legislature, by which the charter
was abolished, provided for the appoint
ment of q receiver by the Governor OF the
State. Judge Baxter, in the case of Gar.
ret, ct al, as. the city, claimed the right
paramount to the State to appoint the re-
ceiver, and turned the assets, books, ETC.,
over to his appointee, Judge I. j. Latham.
Maj. Meriwether about the same time,
but not soon enough to get possession, was
appointed by Gov. Marks. This
raised the issue whether the sovereignty
/ VI liiC lob1tCa oiAohio lClu W SutIdi
| Judge. The contest was continued through
| two years. Finally it was settled in the SG-
| preme Court of the United States. The SOY ,
reignty of the State was maintained, and
| Judge Latham required to turn the Office
over to Receiver Meriwether. Pending
the contest, it being uncertain as to whp
was properly receiver, but little could be
accomplished, and the receivership may
virtually be said to date not from the re-
| peal of the charter, but from the time
| Meriwether took charge, on the 2lst OF
February, 1881. Since then, as shown by
| his final report, on retiring from office,
Mai. Meriwether's collections, from ali
sources, including what was turned over
to him by Judge Latham, were 81, ,145,-
| 794 81. Deduct from this S2S, ,517 22 for
expenses leaves Sl,ll7,276 80 actual
amount OF the city debt he has retired. A
large part of the expense, which is a small
| percentage of the collections, was necessa-
rily incurred for court costs, attorneys
fees, etc, in suits for taxes and other liti-
CATION incident to the unsettled affairs oil
the old city. In addition to the amount Of
debt retired by Meriwether and Latham
about S6S,000 was distributed TO the
creditors in the United States Court and
about $4,000 by r. ]. Black, clerk and
master, making about $4,000 to be added
In round numbers 100000 have
been iquidated since the repeal of the
charter out of the assets of the late city.
late estimate, published in the APPEAk
put the future probable collections iron
taxes, by the receiver, down at something
| over 81 100000. This, added to what was
accomplished up to the date of Laurence
Lambs qualification, will make the amount
Of debt that will altogether ultimately be
Cancelled by the assets OF the city abou
81, 100000. Lamb has collected already
about $4,000. Cash collections made by
the receiver are promptly disbursed t.
creditors, under the orders OF the ChancerN
Court. The only creditors, however, wht
are fortunate enough to get cash payment
on their debts are the mandamus credit
ors, and, a few others, who had specia
taxes levied for them.
A large proportion of the city back take
are payable in scrip. The Legislature AM
the courts have made so many complica
tions and hair-splitting distinctions as t,
what particular kind of scrip may pay eacl
particular item of tax each year, tina
just how to pay tax bill of the old city i
as difficult a problem almost as a Chimes
puzzle. Instead of making all taxes tina
are not necessarily collectable in money
receivable in any valid Indebtedness of tn,
city, various distinctions have been made
greatly to the confusion and cost OF tht
taxpayers, as well as annoyance and labo
to the receiver, all of which greatly tend
to retard collections. The following tab
ular statements show how each item o
tax OF each year may be paid, and it vii
be well for the delinquent taxpayer tt
paste this in his hat for future reference
and hard study. Ali taxes of course ma,
be paid in lawful money.
TAXES FOR 1878.
Tax fer general expense, 9Oc on S1O0, in an
valid Indebtedness Of the city. Scrip can b.
bought from brokers to pay this tax at from 40 I
4ic, as stated to the reporter by prominent Mad
isOn street broker yesterday in interview.
Tax for interest on compromise bonds, 3Oc o.
slqO, in FliPIin compromise bonds or coupons
taken at twice the face, which can be bought y
about par on the face of the bond or coupon
WHICH used at two tF one sates about 5l per cent
On the amount laid.
Tax for judgments Sc ON SlOO, IN an valid In
debiedness Sold at 20 70 4ic. ''
Tax for sinking fund, Doe on Slo0, in Flippi
coupons, taken at twice their face. Sold by broker
as quoted above.
Tax for schols, SC on 500, in Flippin coupons a
city incurred for school purposes There is so lttl
of the school debt on the market that broker
can be saved by using the Flippin indebtedness
as indicated above.
Tax for sundry mandamus, 81 so on 500, i
Tax for Frank mandamus, &c on slCO, in none
gnlg,
lA-NEo TOh 1ott.
Tax for general expenses, Csc on slOO, just fC
Iax for interest on bonds, 75c on s1OO, just a
Tax for jugdments, &c On slOO, just as for 1S7
above.
,Tay on sinking sqna, Sc or 500 Just a. ior ISL
Tax Cor schools, Zoe on 500, just as for ls5
; above.
Tax for sundry mandamus, 81 O5 on 500, just a
Tax for Frank man damus, sc on 500, just fc
1873, above.
Tax for Rroyn mar damus, soc gp SlCG, il cas-
| only, except where ltie trQnt foot assessment va
Bd S Brown on stb the lot Ta5 G5 Eheh
! ness, which can be bought as quoted above.
All Indebtedness OF the city receivable fo
, taxes are taken, with the interest added
at the face amount, except the Flippi
compromise bonds and coupons and tn
: Taxing-District bonds, which, having bee
issued for Indebtedness Compounded {
: fifty cents On the aollar, are made receive
BILE by law at twice their face.
: TAXES FOR 1876.
Tax for general expenses, 81 on siOO, forty p,
ness of the city, contracted for paving streets
other improvements in 1879. Sixty per cent.
! amy Yalia laSt-du5 Indebtedness of the city, sue
i rs indebtedness for hospitals lights, streets, sa
aries, hre and police service, for the year 1876
| such as the tax for which il is received, might
Z applied to, after collection. Little, If any, ca
be saved by paying this item in scrip, as it is he
/ | at about par.
Tax for sundry Indebtedness. &c on slO0. in ar
valid Indebtedness. prioe quoted above.
I Tax for judgments, SC on 500, in any valid il
: debtedness, Price quoted above,
i Tax for schols, Zoe on sl00. in any indebtedne
> incurred by the city for school purposes. Quote
: above at about par.
Tax for Mississippi River railroad, l0c on Sl0
e in Mississippi River railroad bonds or coupon
= Brokers quote this at about par.
o Tax for sundry mandamus, 40c on 500, in ca:
' only
1 Tax for Brown mandamus, 60c Sl0O. in ca:
0 or scrip, under circumstance as stated above I
sim.las ta4 Of 1871,
TAXES FOR 1875.
+ Tax for general expenses, 81 on sl0O, in al
Il past-due Indebtedness of the city, such indol
e edness for hospital, lights streets, salaries Il
;, and police service. etc., for the year lS5 er su
- as the tax for which il is received might be Il
l. piled to, after collection. This scrip is scar
j. as that of 1876, and need scarcely be bought.
q Tax for interest on bonds, 20c on sloo, IN l