The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1902-05-10
Town Council Proceedings.
Lake Providence, La, May /, 100:

Town Council Proceedings.
Lake Providence, La, May l, 1902.
The Hon. Mayor and Board of Coun-
in regular session
Present-G. M. Franklin. mayor;
L. J. Powell, secretary; Councilmen
&. +. Davis. N. Fousse, j. w. Pitt
man aud w. S. Mcguire.
Absent-Councilman G.. B. Egelly.
Report of special committee, G. f.
DAVIS, as to sale of waterworks and
light bonds was received and filed,
and is as follows. to-yit:
To the Hon. Mayor and Board Of
Councilmen of the town of Providence,
La: would respectfully report that
having proceeded to New Orleans in
accordance with your instructions. l
called upon the representatives of the
Interstate and the Southern Trust and
Banking Co., and LAID the matter of
the bond issue before them. As the re-
suit of my conference with the said rep
resentatives. | submit their written
proposition herewith for your consid-
Grafton. further called on the An
drews Artesian Well CO., and urged
the immediate sinking of the well as
contracted for by the company, and
obtained from Mr. Blackmore, the
manager, his assurance that he would
have boring outfit here by the 10TH
and would complete the well as soon
as possible. Respectfully submitted,
Clifton +. Dayis.
New Orleans, La, April 80, 1902.
Clifton #. Davis. Lake Providence. La.
Dear Sir-Referng to our converse
| ton in New Orleans about the issue OF
waterworks and electric light bonds by
the town of Providence, on behalf of
myself and associates, we will make
the following proposition for the pur
chase of said bonds. We will take the
entire issue of twenty thousand at par
upon the following conditions
1st. That the principal and inter-
est of said bonds shall by ordinance be
made payable at the banking house of
the Interstate Bank and Trust Com
pany of NewsOrIeans.
End THAT the Interstate Bank and
Trust Company be made the deposto-
ry of the sinking fund, which shall be |
paid to it annually AS provided IN the
ordinance of Dec. s. 1901.
3rd. That the issue, and the pro- |
ceedings relating TO the issue, be SUBJ
mitled to our counsel for his opinion
as to the legality thereof. the town to
pay our counsel for their services $500. |
4th. We will advance to the. town
on demand after May 18th, so per cent.
of the purchase price, the balance to
be payable upon the issuance and de-
livery of the bonds.
The printing of he bonds will cost
between $40 and 500
Please let us hear from you at your
earliest convenience,
Yours truly,
w. B. Spencer. Agt.
New Orleans, La, April 2s, 1902.
Mr.. Clifton F. Davis. Lake Providence, La:
Dear Sir-I beg to advise that we
have under favorable consideration
your proposition asking us to UNDER
write 100000 of light and water bonds
of the town of Lake Providence. In
case we should take this issue OF 5 per
cent. bonds at par, we would charge
you fee of q per cent. and all expen-
ses incident to a proper investigation.
Of course our counsel will have to in
vestigate the matter thoroughly, and
provided you are willing to have us
AXE the issue on these terms we would
give you a definite answer after we
nave had advice from you.
Yours very truly,
Charles A. Sacbett.
Cashier pro tenn.
Action on above report deferred un.
il Thursday. May 9Th. 1902.
The following resolution by Coun-
altman w. S. Mcguire was read and
dopted, and the secretary instructed
O forward copy of same to Russell ,
larding, Esq, 3rd Vice President and
General Manager of the NJ. H. & L.,
!. 4. Co.:
Be it resolved by the Mayor and
'oard of Councilmen of the town of I
royidence, La, That. whereas, a Pc
ton OF the merchants and citizens of
ne town relative to the location of the
epot OF the M. II. e. La. r. r. Co.. at
lis place has been presented to this
Oard for action; therefore
Be il resolved, That the Memphis
elena and Louisiana Railroad Com
any is requested to locate its depot at
us place as near the business part of
wn as possible, aud that it is sug-
ssted to said company that the loca-
on OF the depot on the site designated
the petition of merchants and citi-
Onld be the most favorable and con-
intent for said town.
The following report of the Finance
,nnaittee was read and adopted, to-
It:
Lake Providence, La, May 1, 1902.
the Hon. Mayor and Board of Council
men OF the Town of Providence:
We, your Finance Committee. beg leave
report that we have examined the re-
rt of Yancey Bell. treasurer, dated this
=, which shows that he has a balance on
nc Of S2923 %, which we find correct and 81
commend its approval.
The report OF the marshal. dated this
Y, shows that he has collected since his T.
t report IL
r license of 1902 $1,000
AaSo ioi ApAh .-...'..-........- ~ w -
-
e25 90
ich he has paid over to the treasurer.
We have examined and approved the fol- to
ring claims and recommend their pay "
mt: tb
;. Galbreth, salary lamp lighter for
pm Sld CYL
VI Purdy & Son, health and quaran- uY
milne % So w
VI Purdy & Son, & B.. 16 81 to
. l.. Fischer Lumber Co., & B.. 80 80
{ Peck, hauling March and April. 80