The times. [volume] (Richmond, Va.) 1890-1903, 1894-07-21
FROM THE CITY HALL.
FINANCIAL MEASURES PROPOSED
III FI1ANCE COHMITTEE.
10 Retro tho Baby Bonds-Committee on
fife Department Has no Quorum
Conmi q TO Organize.

The action Of the Finance Committee in
recommending to the Council the issuing
| OF $-2',ON worth OF 4 per cent. registered
! Ni'y bonds to be disposed of by the com
mittee ON such terms and at such times
as they may deem best for the interest OF
/ the city, meets with general satisfaction.
Inc net proceeds OF the sale OF these
bonds are TO be placed To the credit Of
ihe account for temporary loans. In an
other resolution the committee is To be
authorized, IN anticipation OF these sales.
70 borrow money not to exceed the
amount in question. and 70 issue notes Of
the city FOR the same
ABOUT year ago. when business was
SItdu! depressed ln the city OF Klthnunl,
as wen as elsewhere, il WdS found 10 Dc
/ utterly impossible to sell the ordinary
per cent city bonds at almost any
price. Inc Council then authorized the
FINANCE COMMITTEE, at the latter's re-
commentator, 10 issue what Was known
as bdbE bonds, per cent. city bonds, OF
the denomination of s. and $40. Ii was
stated at That ume that these bonds. at
thelr Illdlnily on September !, 1875, might
Dee redeemed by the sale OF registered
was limited 10 10000, but they did not
deem II advisable 10 put ia circulation
all these BONDS, and after $2o,00O had been
PAD out by the city Tor various purposes,
The balance was withheld.
The FINANCE Committee now proposes 10
use the SZz9.VJ0. the loan OF which Is asked
for to redeem the baby bonds. ana IN That
manner To substitute Tor the per cent.
bonds the regular I per cent. registered
bonds. The failure Of a sufficient nuinbeT
OF members OF the Common COuncu 10
attend the called meeting OF That BODY
ON Thursday evening Will delay the ac-
ton OF the city authorities 10 some extent,
but II Is expected that al the regular
meeting Of tnc council ia the ursi MONDAY
A. rfrfff love ffI1 hf
SO that they might be cOncurrcd ia the
following week by the Board OF Alder
men ana approved by Mayor Taylor. ii
this Is done the committee hope To De
enabled % secure the necessary loan IN
tiUe to redeem the baby bonds at their
maturity.
FROM TIE COMMITTEES.
The Committee on Fire Department
was 10 have held its first regular monthly
meeting in room 80. l., OF the Clty nan
last evening at go o'clock, but only
MessTs. Gunst chairman, Don LedVy and
HardWicke put In an appearance. The
transaction ~ business therefore, mad TO
be postponed for lack Of quorum. 1t
Was decided TO make another attempt
10 secure d quorum on Monday evening
at $50 o'clock
The Committee on James River Improve
ment will meet on board OF the city tug
William L. Craiehill for organization on
Monday afternoon at o'clock The tug
Will bee IN waiting al the wharf OF the
James River Navigation Company The
following IS a list OF the members OF the
Prom the Board Of Aldermen: Messrs.
Joseph W. Garter, T. " Noble, and James
+. Vaughan.
From the Common Council: Messrs. \.
D. Laudcrkin. Il. b. Murphy. John r..
Epps and julius A. Hobson.
From the Chamber OF Commerce:
Ncssr~. George ~. Allen. James ". Ali
SON, Thomas Christian, ). H.; Ha%es,