Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1892-08-11

! tive to the deposit OF city funds. president
Benson, by whom the meeting was sug.
gested, was called out of town Thurs
: day and i'll consequence could not at
tend, Mr.. Thomas presided and besides
the councilmen there were present Ed
ward Belts, president of First National
Bank; Preston Lea, president of Union
National Bank; William r. Porter, a
director of the National Bank of vii.
mington and Brandywine, and William
M. Field, president OF the Central Ma
tional Bank.
Owing TO the absence of the president
of Council Mr.. Dannenberg moved that
action be deferred until a meeting called
by President Benson.
As an amendment Mr. McKelvey
moved that the matter be referred 10
the finance committee.
Mr.. Thomas said the matter had
been referred to Council us u committee
, of the whole and for that reason he did
not think the amendment was par
llamentary. lie had spoken to Presi-
dent Benson about referring the matter
TO the finance committee, he explained,
but the president opposed the sugges-
tion.
Mr.. McKelyey thereupon Withdrew
his amendment and Mr.. Dannenberg's s
motion was adopted. "-
After the adoption of the motion the
bank officials were given opportunity 10
express their views respecting the de-
post of city funds
Mr. Field said he would like to say q
few words at the present time because
he expected to be out Of town the next
two weeks. Under its new phase the
matter, he stated, met his approval,
Last years arrangement was more
equitable and just than previously. Last
August the banks received $23 $50 each
of the city's money. OF this sum
$4,000. were Withdrawn October Sd,
$4,000 November 18th and the balance
remained in bank a few months longer.
The customers OF all the other banks
mifer, he continued, because of the
funds being tied up in the active bank.
Il 100000, 100000 or $500, 900 are tied
up in one bank it comes from the other
banks and they either have to turn Gus
toners down or so out and borrow
money. The citizens are customers of
all the banks. The payment of taxes
has caused a heavy draft on all the
banks during the last few weeks. The
money drawn from the other banks to
pay taxes is now in the so-called active
bank. They want the money dis
tributed as soon as possible. 1t
should be immemediately distributed
TO the people. This can best
be done through the several banks. The
speaker suggested that each bank be-
come the active bank in turn, for one
year or two years, the time to be set by
Council. Continued business with one
bank, he added, gives it undue prestige.
lie was glad the present project had
originated with Council. The banks
had not asked for it.
Mr.. Ross--"Will the gentleman give
us all idea of the amount drawn from
Central National Bank last month to
pay taxes 2"
Mr.. Field-"I cannot say exactly.
The deposits dropped down about
SI5,0o0 but this was not altogether ow-
kag to the payment of taxes. CITY and
county taxes took the greater portion of
it. Under the rules of last year $40, 900
were withdrawn in about so days,
$4,000 were Withdrawn about 30 DAYS
subsequent and $3.50 were withdrawn
the following April. The new rules
work more equitably."
Mr.. Ross-"Would the Central Ma
tional Bank and the other banks be
willing to pay two per cent interest on
the average deposit if they should be.
come the active bank ~
Mr.. Eield-"l cannot speak for all the
banks. Central National Bank would
most assuredly."
Mr.. Belts said the taxes pulled down
the deposits of First National Bank
e>sat $4,000, His bank would most
cneerruliy pay two per cent interest on
the average city deposit.
After q pause, during which none OF
the other bank officials volunteered to
speak, Council adjourned.
In President Benson's absence Mr.. Per.
kins presided at Thursday nights session
of City Council
Concerning the request of James Fisher
for reduction of the assessment on two
houses owned by him, the law committee
and the city solicitor reported Council has
no jurisdiction.
The city treasurer reported a balance of
S25o, lU.2D in bank July 2Sth to the credit
OF current expenses, and balance of
S3Sl ,Si9iI yesterday to the same credit.
For the week ending July 18th he reported
The following receipts hrom the Board
OF water Commissioners 81 S95.97 interest
III AuEllsts from collector Mitchell,
7O,40O, city and school taxes for this wear;
from Administrator Mealcy $3.50, city and
school taxes for last year from Collector
Sayers, SI2,S10, city and school taxes for
this year. For the week ending Yesterday
ne reported receipts as follows From
Collector Sayers, s63, l30. city aud school
taxes Tor this year; from the clerk OF the
municipal court, $50 collections last
month and witness fees not claimed
during june from the building inspector,
80, fees for last month; from Collector
MITCHELL SS7 ,050, city and school taxes for
this year; from the plumbing inspector,
SlS.5O, fees for last month; from the mayor
and Council, Sc, interest on the GilliS fund;
from the city engineer. S55. 10; fees for last
month; from Administrator Mealey,
S7Io,9l, city and school taxes for last wear.
The clerk of the municipal court reported
that his collections last month were as
follows Fines, S54S fees, Sl2l costs,
$40. The witness fees unclaimed during
June amounted to Sll.
The city auditor certified to the correct.
ness OF the accounts of the several officials
lie reported that the fees Of the city enti-
neer have been deposited as follows To
the credit OF the city, Saj.I0; to the credit
OF the street and Sewer Department SO.
The coal oil inspector reported that he
inspected Il, 800 gallons of oil last month
The building inspector reported thai last
months building operations consisted ol
80 dwellings,, II back buildings, 30 altera-
tions ana repairs, 2 factories, . stables, /
water tower, club house, l office and IL
privy wells, the estimated value Of which
10 s175, ,265. ...
The July report OF the clerk of the reg.