The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1892-07-29

The regular weekly meeting of City
Council was held last evening with
President Benson in the chair. The
roll was called and the minutes of the
ed.
The petition OF John B. Frazer. for
the return of overpaid taxes, which
was referred to the Finance Commit
tee, was returned with favorable re-
port and on motion OF MIR. Thomas,
an order was drawn in his favor for
| $3.50.
The Fire Committee reported In IA
yor OF awarding the contract for
badges for the iiremen to James A.
Allen, at 821 cents each. aud tho re-
port was adopted.
Tho Finance Committee reported In
favor OF cancelling the official bond OF
Francis MeCloslSey, for the year 1885
anu the report was adopted.
A communication was received from
the Roard OF Health, stating that John
! v. Chriety and John Mcdowell had
bean appointed as extra executive on
cels of the board.
| The annual report OF the treasurer
OF the Board of Education was read
and ordered to be filed.
President Benson called Mr.. Magee
of the Fourth ward to the chair, and
taking the floor presented the follow
ing resolution:
Resolved, That from and after the
| passage OF this resolution the follow
ing shall be the regulations concern.
ing tho deposit OF public moneys sub
jeet to the control Of the Council:
First The national hanks of this
city may be legal repositories OF the
of tho Council.
Second. The Union National Bank
shall DO the active bank and the
Others shall be known as depository
banks.
Third, Interest at the rate OF not
less than two per cent. yearly shall lie
credited by each bank to the city
monthly on It's average deposit.
Fourth, All the cash rcceipts of the
city shall be deposited in tho active
bank.
Fifth, On the second Friday OF
each August and February the treas
urer shall draw in the usual way from
the active bank and deposit in equal
parts In such depository banks as shall
have been approved by Council, seven.
ty,hve (T5) per cent. OF said funds act.
ually In deposit with said active bank.
provided that none Of tho depository
banks shall receive more than twenty
(2O) per centum.
Sixth, Whenever and rs often at
tho city deposit in the active bank
shall actually be reduced to $50, COX
the getty treasurer shall draw frotr
each depository bank the sum OF $4,000
and deposit tho Same in the active
bank, but when the deposit in de
pository bank is reduced TO e5Oo0 oi
lees the whole of said deposit shall ht
vii hdrawn when the next draft Is ~
Quired.
"AIl resolutions or parts OF esolu
tion5 ut variance with the above reg
ulationS are hereby repealed"
Mr.. Benson said that he fully under
stood the Importance OF THE matter
and therefore did not wish to urge
Lastly action, and therefore moved tina
the resolution AMI the question 4
raised Ge referred to the Council rs
committee OF the whole; and that til,
committee 10 instructed 10 meet at
O'Clock on Wednesday evening, Angus
8. aud prepare a report to he sui
mitted to this Council on Tnursdg,
evening, August 4. Aud that the clerl
of Council be instructed to notify tn
president of each of the nGtiona
banks OF the city, that they shall hav,
the privilege of being heard at said
committee meeting either in person O.
by a representative.
The motion was adopted and til,
Council adjourned.