The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-12-16
COMMITTEE OF FIFTEEN.
THEIR REPORT TO THE MEETING AT
THE MERCHANTS EXCHANGE.
They Recommend the Sale OF City Prop
erty, Fitity-five Cent Levy and
an Ad valorem Tax on Auditing Prop
erty,

The mass meeting at the Mercha nts'
Exchange last night was poorly attended,
doubtless because OF the wet and generally
unpleasant weather. There were not over
fifty citizens present, mostly merchants,
bankers, insurance men, lawyers and real
estate agents. The mechanic and labor
ing man was conspicuous by his absence,
much to everybody'sregret, ms they should
have been represented.
Ats o'clock sharp Mr.. Robert Gallo
way called the meeting TO order aud
announced that ii was an adjourned meet
ing, and that the business before it was to
hear the report Of the Committee OF Fiji
teen on paving purposes. The meeting
would doubtless have been larger he said,
but for some misunderstanding as to the
date WREN il WAS TO be held. 1t would be
best he thought, in view Of the small
attendance, to postpone the meeting.
Mr.. T. Nj. Galbreath suggested that IL
would be best first 10 hear the report,
have il published in the morning papers
in order to famliarize every one with its
features, and then meet at some future
day 10 consider the report and take action
upon IL. This met with general approval
and Mr. J. S. Menken, chairman Of the
committee, mounted the platform and
read the following report;
Your committee has given the subject
referred TO them the fullest consideration
possible within the time allowed II finds
that the only sources to which IL can look
for immediate funds TO complete our sew.
ors and construct payements are, first, di-
rect taxation; second, surplus revenues
and assets belonging TO the city, Under n
very rigid assessment law, In which tho
danger from double assessments and
other errors is reduced TO q MINIMUM, the
value Of property in the Taxing District
has been increased from Sl7 100000 10
about S27, 100000, or about GO per cent. In
view OF this heavy increase in the nsscs9-
ment your committee does not be-
licvc that the people can bear
larger rate OF taxation than S23j
on the 500. or the same rate which pre-
vailed last year. Under this rate the in
creased assessment will produce large adj
ditional revenue. A tax OF Sl.S0 on the
500, upon the new assessment, will pro-
vide for the additional interest, water and
sinking funds, which are TO be paid after
the first OF January, and will raise Tor all
the other departments OF the government,
exclusive Of streets and sewers, about $751;
bOO more than was needed for those de-
partmcnis during the past year. IL there
fore recommends that In the next budget
n tax Of soc on the 500 be levied for
sewers and strecis-2jc for sewers and S0c
for streets.
Your committee further finds that in
addition TO the revenue raised by this tax.
funds can be raised from tho following
sources:
]. The privilege tax can be devoted to |
streets. This tax amounts TO about 500.
600 q year.
.. The surplus revenue from the Station |
house. after paying salaries, amounts to !
about S25,0 600 year. This sum can be de- |
voted 90 sewers and streets.
.. Under contracts with the Tennessee |
Midland and Kansas City Railroads the |
city will receive about S2O,O 600, 10 bc cx-
pended on the streets around the dopols
Of said roads
T. unapppprlaicd back taxes, amount
ing 10 about $4,000 Your committee
thinks that at least $4,000 can hu realized |
from this source for sewers aud streets
.. In addition to the two mnrkrt.houscs,
one OF which has been abandoned, and
the other one oi which Is 81 little practical
use To the public, the city owns the follow
Ing real estate which il IA unnecessary To
hold Tor corporate purposes
lot on the corner OF Second and Wash.
ingion. Lot In North Memphis, near thc
Louisville depot A lot ON Jefferson
street, and probably other real estate
from this real estate, v told dunug the
spring your committee believes that morc
than sluOOOO could be raised Tor sewers
nni streets
Your committee therefore recommends
that all these funds be devoted 10 such
purposc, aud 10 further recommends that
all the neal estate not In actual use for
corporate purposes be- nold within six
months ~ that the proceeds can be- made
available within the next two years for
the purposes lhus indicated. Tho amount
which can be realized will be about as
follows