The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1891-07-10
CITY COUNCIL,

Very little Business Transacted at the
Regular Session Last Eyening-A BIZ
From the Gamewcll Company--The
Bank Presidents Want the City's
Funds Distributed.
City Council was called to order
promptly at 8 o'clock last evening by
President Benson, after which Clerk
Messick called the roll and read the
minutes OF the last stated meeting,
which were approved.
The Finance Committee reported
favorably on the communication from
the Street and Sewer Commission, in
reference to the verdict In the case of
Anderson d Son VS.. the Mayor and City
Council for $l,4l6.50. On motion OF
Mr.. Cotton, the report was accepted,
and the city solicitor instructed to set
tie with Anderson d Son.
The law committee, to whom was
referred the communication of the
city auditor returning the checks OF
Messrs Lee and Colquhoun, unsigned,
reported in favor OF instructing the
city auditorSto sign the checks. Mr..
Griffin moved that the matter be laid
over for one week, until the opinion
OF the city solicitor can be obtained
and tho motion was carried.
The city treasurer reported balance
of SEC, 225.5S in tho Union National
Bank to the credit of current expenses
and special deposit OF S4454.62. He
also reported having received the fol.
lowing amounts: Tax Collector Mitch
ell, 4,450; John j. Mealey, sS, 45O
Treasurer of the United States, for in
terest, $50: J. II. Dandy, interest
Union National Bank, $685..
A communication was received from
Samuel Guthrie, asking for the return
of55.6l capitation tax as he is not resi-.
dent OF this city, aud it was referred
to the finance committee.
A committee from the Board of Port
Wardens, asking for an appropriation
of $500, was also referred to the finance
com mittee. Another communication
from the board stated that they had
nominated Edward n. Kershaw as
harbor master, and he was elected by
Council, the vote being cast by MIR.
Cotton.
A communication received by City
Treasurer Adams from the Gamewell
Fire Alarm Company. acknowledging
the receipt of 500, on account of the
new boil and striker on the Liberty
engine house in South Wilmington,
which stated that a20was still due, was
read and referred to the finance COM
mittee. Tho communication also stat
ed that there is $3.50 due for two fire
alarm boxes, for which n bill would be
rendered in short time.
The following communication was
read and referred TO the finance co III
nlittee:
To the Honorable, the President and
Members of Council OF the City OF
Wilmington.
10
dents OF the banks ia this city, desire
and as matter of justice ask, that.the
funds of the different departments of
the city government be deposited in
tho several banks of tho city In some
equitable and practicable manner. and
present tho following reasons for their
request:
First. AS principle division of
large deposits is prudent and desirable
to insure the greatest safety.
Second. The deposits of a bank are
O necessary source of pI oiit to il, with
out which no bank can sustain itself
nor accommodate customers who need
discounts and loans.
Third. City funds come from and be-
long to the people generally, who are
largely the stockholders and depositors
OF the different banks, and hence
should participate in any advantages
therefrom.
Fourth. The July taxes are now
drawn from our six banks and depos-
tied entirely in one of them, necessi-
tating five Of tho banks TO reduce their
discount lines and thus Inconvenience
their customers for two or three
months until the city deposits are
again scattered in'the course OF trade,
Fifth. 1t is customary, SO far as we
can learn, for other cities to divide
their deposits among their banks in
some manner so that safety may be
Increased Tor the city and justice rem
dered to all the banks and their custo-
mers.
Sixth. In case Of the city needing
large temporary loans no single bank
could accommodate il, us the National
Currency act forbtds any national
bank TO loan corporation moro than
one-tenth OF its capital.
In consideration of the foregoing
facts we ask your honorable body to
devise some plan by which the city de-
posits will be equitably divided be-
tween the different banks of the CITY.
ami in duty bound, etc. Edward Belts,
president First National.Bank; George
s. Capelle, president National Bank OF
Wilmington and Brandywine: William
NJ. Field, president Central National
Bank.
Mr.. Cotton gave notice that he
would introduce an ordinance in ref
erence to the sinking fund, and also
one authorizing the loan of SlOO, 900
for the Street and Sewer Commission.
Council then adjourned.
50