Daily Republican. [volume] ([Wilmington, Del.]) 1874-1890, 1885-02-03
ll,e7.2l
l7a,sil.I9

uons, ,uss4-b)...... N.ea7 -
Total.......... l7s,siAls|
Amount paid In Jan.
uary tor interest. =. li,o7s 90
Total l69,736 10
priation. ........... l6 600 90
Total........... sils 7a5 .ls
Mr. Mention said that in conversation
with the tax collectors, he WAS informed
that between now and July 1st, they
could colle $40 600, and he had been
In formed by one Of the Water Commis-
sioners thatit WAS probable they would,
at their next meeting, agree to pay the
intrest on the water bonds. The re-.
matnder OF the money could be borrow.
ed from the Union National Bank for
three years, and that for $40, eco OF the
amount they would not charge any in
trest until July lst.
Should the tax collectors collect the
money which they say they can, it will
only leave sos, 900 to be raised. II the
plan which he proposed was adopted, 1t
would not be necessary for the city TO
90 TO ths Legislature and ask permissiO ion
TO create a loan, and Issue bonds.
Mr.. Baugh said that he was in favor
| OF creating the .oaD, and issuing the
bonds for its payment in twelve years,
and he thought any other plan could
not result In anything else but inc reased
tax alton.
Mr.. II. II. Tay lor raised the point
| that the financial statement submitted
by the committee was not report, as
II was not signed. He said that 1t was
only presented in comp lance with the
request Of Mr.. Moore.
L . ia.
speech in favor Of asking permission to
make a loan, and said that he saw no
other way for Council TO do.
While he was speaking a majority of
the Finance COMMITTEES signed the RS
port, and MIR. Mention moved its adop.
ton. He also offered an amendment
that 100000 be inserted, instead of
IsilS,0u0, as the amount Of the de.
ltciency.
| MIR. Pickels again opposed the report,
land SAID that So. 600 would be amply
NJ hi c lent to meet all deficiency, and ne
thought IL would be- well to postpone
any action until Thursday night, as by
that time Council would know what the
Water Commission. would do about
the interest on the bonds.
MIR. Merris Tayl lor said that there was
no use IN depending on anything the
l
was very certain they would not pay
this interest, or any other money to the
city, as Council now had an amend
ment which would shortly be acted
upon, asking the Legislature TO repea
that part of the act creating the Water
Commission which compels the city u
, pay So, 900 year for the use OF the
{ water in the fire plugs. He was IN
favor of creating the loan, as he did
(not see any other way out of the diff
: lcuity. pom a vote being taken on the
motion TO adopt the report, it was car
ried by II ayes to II nays, all tn,
Democrats vOt ing in favor of it,and tn,
Republicans against 1t.
Mr Mention then called up the pro
posed amendment providing for th'
loan, and II was read hy the clerk s'
follows.
An Act TO authorize "the Mayor ant
Council OF Wilmington" to borrow
certain sums of money and to provid,
Tor the rs payment thereof.
Be IL enacted by the Senate ant
House OF Representatives ct the Stat'
of Delaware, in General Assembl y met
(two-thirds Of each branch thereo
herein concurrring.)
), Section !. That "The Mayor and
Council of Wilmington shall have
power and authority. and are hereby
authorized under an ordinance or ordl
y nances OF " The Council duly passed
VI at any time hereafter, to borrow upor
the faith and credit of the City of vii
u u iDRton, sum or sums OF money no
Exceeding, in the aggregate, one buDd
: red and twenty thousand (l20, ,00O) dol
lars, the re epaymeDt of such sum ol
:, sums, and the payment OF interrs
u thereon, to be- provided for at sucl
y times and in such manner as the 18th,
Council shall by such ordinance o.
= ordinances prescribe and appoint.
Section 2. The bonds which may b,
= issued under the provisions ofthis A ct
shall be made payable with the interes
thereon in twelve equal annual install
. ments, and A." The Council" thall, wher
making the annual appropriations, In
, clude therein, any portion OF the princi
, pal and interest on said bonds fallinl
| due within any year for which sucl
appropriations shall be made. The
first installment shall be payable or
the first day Of August, "A. u. 1885. ant
the remaining intallments shall be pay
able on the first day of August, In eacf
succeeding year.
Mr.. Mepton moved to amend by strik
ing ont Sl20 600, and inserting 500, 900
and the amendment was carried.
MIR. Farrell, moved to amend by strik
ing ont the word twelve, in the second
line of the second section, and inserting
ten. Upon n vote being taken the
amendment was adopted.
Upon motion being made to adopt
the act as amended, President Conrad
Icalled MIR. Mention to the chair, and
lspoke in opposition to its adoption
He said that the city was in the condi
tion OF merchant, considering wheth
er 1t was better for him TO collect tht
u money due on his books, or go TO bank
and borrow the amount. He though,
l the time had come fer the city to stoI
= going TO thelLegis atnre, and asking per
mission to creaie loans. He also submit
y ted statement, showing that II the
amounts due the city were collected,
Q there would only he $40. eco needed to
make up the deficiency, which would
not be as much AZ the overdraft was al
~ the commencement of this year.
al Mr.. Farrell said IT. was well known
that the Court had decided that the taxes
10 for 1881 aud 1882 could not be collected,
= and this he charged was the fault of the
~ Republicans. He also claimed that IL
cases where the Auditor wanted Jh'
warrant OF the Mayor TO sell property
to get the taxes, he had refused Il
70 give it.
8 Mr.. Conrad said that If the Mayor
IL , had done this he was wrong in 30 doing
II Mr.. Farrell then continued, and salt
that for four years the tax collectors
had never been called upon to exhibi
their books and show what they wer'
doing, but there was going to be an enc
tn Lta st .t.v,Jb NJ