Savannah morning news. [volume] (Savannah) 1868-1887, 1883-07-05
mrNroTpAI AFFAIRS.
Proceedings of the Council Last Night
The Rnnd Debt Cnmnromise

The Bond Debt Compromise.
The City Council observed the Fourth
of July by holding a meeting last night.
The proceedings, though lengthy, were de-
void of any special interest.
The Council was called to order by the
Mayor. Present: Mayor Lester and AL
dermen Hamilton, Thomas, Nell, Hanley,
O'Connor, Derst, Nichols and Hamlet.
The Clerk read the minutes of the last
regular and adjourned meetings, which
were confirmed.
ACCOUNTS.
The Committee on Accounts reported
that they had examined and found cor
rect accounts against the city amounting
to $8,872 q, and recommended that they
be passed for payment.
REPORTS.
The Finance Committee reported adj
versely upon granting petition Of James
A. Greenlaw. asking for reduction of as
sessment upon certain property. Adopted.
The Committee on Fire reported favora-
bly, upon granting petition of Catherine
Mehrtens. Adopted.
The Joint Committee on Streets and
Lanes and Public Sales and City Lots. re-
ported upon tle matter of w. b. Sturye-
nant, recommending plan OF settlement.
The report was amended and referred
back to the committees with power to act.
The Committee on Public Sales and
City Lots reported favorably upon grant
ing petition of Margaret Martin asking
for title to a certain city lot. Adopted.
The Committee on Docks and Wharyes
asked for further time to report upon pc
tition of Cotton Exchange. Granted.
ORDINANCES.
An ordinance to prohibit bathing in the
Ogeechee canal within the corporate linn
its of the city under penalty of not more
than 800 fine, or not more than thirty
DAYS Imprisonment, was put upon its
second reading and passed.
Alderman Thomas moved that the ordI-
nance in reference to the compromise of
the Atlantic and Gulf Railroad bond debt
be taken from the table.
The motion prevailed, and the ordi-
nance and amendment was put upon its
passage and passed.
PETITIONS.
A petition of the Georgia Historical
Society to authorize the Improvement Of
Telfair Place was referred to Committee
ON Streets and Lanes.
Petitions of j. G. Hayward and A. w,
Harmon for permission to make sewer
connections were granted, subject to the
approval Of the Sanitary Board,
Petition of Joseph Luce was referred
to Committee on Finance.
Communication from Christopher Muir
phy was received as information.
Several petitions for permission to erect
and repair buildings, Endorsed and APP
proved by the Fire Committee, were
granted.
RESOLUTIONS.
Alderman Nell
To authorize the Finance Committee
to make such settlement of the city bond
debt as the committee shall see best.
Carried.
Alderman Thomas offered the following,
which was adopted:
WHEREAS, The efficiency of the Fire De-
partment requires a full corps of Thoroughly
competent engineers, and, whereas, Engine
No. has had no regular engineer for months.
ReSOEced, That Osceola Butler, Chief Fire
man; A. n. Miller, superintendent OF the
CINE No. 2; l.. A. Mccarthy, Engineer OF En-
CINE No. 6, and W. j. Cleary, President OF
Engine No. !, are hereby constituted board
to thoroughly and practically examine such
engineers rs may apply, taking into consld-
Grafton character and industry, as wei as
mechanical skill; reporting result of such eX-
animation to His Honor the Mayor, who,
with the Fire Committee, shall after eNaml-
nation of such report, APPOINT the person who
to them may seem most suitable as engineer
of Engine No. l, during good behavior and
the pleasure of Council.
BY the Committee on Streets and
Lanes
To authorize the Corporation Attorney
to draft an ordinance, authorizing the
change of name of st. James Square to
Teltair Place. Carried.
THE BOND DEBT.
The Committee on Finance, submit ted
the following, which was received as
information:
The undersigned, holders of the bonds of
the Savannah, Albany and Gulf Railroad
Company, guaranteed by the Mayor and AL
dermen of the city of Savannah, in sums set
opposite our respective signatures unite in
the following proposition for compromise
thereof;
/. To receive in exchange for the said
bonds and all coupons, including the coupons
due thereon January lst 1877, and all interest
on the same up to the LIST day of July, 1888,
new bonds of the city of Savannah, bearing
date July lst, 1888, and having thirty years
to run from LIST day of July, 1888, with quar-
terly coupons for interest at per
centum per annum, all of which bonds
and coupons shall he exempt from taxation
and be received by the city as they mature at
their face value for all taxes and debts, of
every description, due and to become due to
the city, or paid in cash at the option OF the
holder, in the proportion OF thirteen hundred
-
each one thousand dollars of said guaranteed
bonds and all coupons and interest as afore-
said of said guaranteed bonds.
.. All coupons beginning with those due
January LIST, 1877, which have been removed
from said guaranteed bonds and not produced
Herewith at the time they are presented for
exchange shall he paid for by the holder of such
bond before the exchange is made, at their
face value, to said city.
3. That the bonds and coupons on which
suits in the United States Circuit Court for
the Southern District of Georgia were begun,
and on which judgments have been obtained
in said court, which judgments have been af-
firmed by the Supreme Court of the United
States, will be brought into this compromise
on the terms herein proposed for other bonds
and coupons not in judgment.
4. That all bonds for which this compromise
the terms hereof, and until holders of said
guaranteed bonds, to the amount of 100000,
join in settlement herein proposed the same
shall not be binding beyond July l, 1884, on
which day, unless parties representing 100000
of said bonds shall agree to this settlement,
those who have agreed shall be relieved from
the same.
s. That the said city will begin the issue of
said new bonds as soon as practicable after
the holders of $500, 900 of SAID bonds shall have
had their bonds stamped in accordance with
this proposition for settlement,
John l.. Hardee, for self and others $44 900 90
A. l.. Hartridge, for self and others. 1880 90
John FlannerY, President South
err Bank of Georgia, represent
ing bonds in judgemnt for Eu-
gene Kelly ...................... $500 90
T.. S. WAYNE IL. ...............-. $500 90
Iot,, limit op 4