The weekly Iberian. (New Iberia, La.) 1894-1946, 1915-09-18

=
debtedDts ss Of the city by Sl1 900.
which SOL, 600 is predicated--to.
gether with the city's old obliga-
tlons-upoD m other form of sc.
curity than the city's credit.
Those present were as follows:
F. X. Herpeche r. A. Jacobs
Fred. Schwing DIR. II. A. King
II. Gallois Octave Renoudet
LaHard King +. L. Weeks
DR.. Il. s. Fulton w. l.. Grant
H. \. Sealey l.. Villermin
J. p. Suberbielle Phil Broughton
J. s. Power NJ W. Fisher
v. J Smith J X. Taylor
M. Galliand s. o. Nuckol1s
p. A. Landry Alphonse Davis
JEFF Forgey Fernand Veazey
Jules Dreyf fus Harry J. Smith
Aft. Lewald Chas Gouguenheim
Ed. L. Estorge Robt. s Perry
A. Daigre X. P. Kibbeck,
and others.
The meeting was called to or.
der by Mayor Havard 8. SeaIey.
who, IN his opening remarks,
stated the object and purpose of
the meeting to be either to ratify
or repudiste the question brought
before the meeting Of the Mon.
day night previ0us--tbe issue Of
S35, 900 of Certificates Of lndebt-
edness. These Certificates OF
Indebtedness are designed to run
for . series Of years and are to
bear inter est at the rate Of 8 per
cent.
Mr.. X. 4. Weeks then asked
tho privilege of the floor and eaid
in part:
ln issuing the 10000 of I'm
provement bonds the city declar.
cd it would dedicate spproxi'
mately 10000 per year,-2OOO to
interest and 1000 to sinking fund
TO the retirement of the Issue.
Experience has shown that
there has been some disappoint
mont in expectations IN this d.
rection. Instead of the city hav.
ing Q surplus revenue, ae declai
cd when the bonds were issued,
1t now proposes to declare that
its accumulated indebtedness and
pressing obligations makes it ne
Oessary and wise to float a series
of Certificates Of Indebtedness
In sum representing $50, 900.
IL the clty's revenues have not
been large enough to meet the
needs Of the city, without extra
ordinary demands obtrudiDg, and
without the city being able to
meet its obligation incurred In
consequence Of the $4,000 bond
issue, how can 1t be maintained
that the City can sanely hope to
meet the increased demands up0u
its revenues by the interest and
sink Ing fund accounts that must
follow an issuance or the Certif
Gates OF IndebtedDessf If the
city's needs cannot now be met
by its present revenue, how hope
less becomes the situation when
We adopt any policy which will
increase the city's obligations
without increasing It's ability te
payi Not only 10 the city's reve.
nue. insufficient to meet It's ordi.
nary demands, but the revenues
are shrinking In consequences OF .
shrink age in the assessment rol'
| in business generally, and In thu
license revenue OF the city.
| Mr.. Jules Dreyfus was thu
I next tn be recognized by thu
chairman. He outlined the idet
that the city's business enc
might be reformed considerably
to the benefit OF its bank &C
| count. He said the Market reve
| nuss could be increased from
$4,000 to e46OO by amending ex
isting city ordinances 90 - Z
| | eliminate street hawkefs ant
scattered private markets, be
tween the hours Of 8 and 9 q. IN.
except where such street vendor
we're willing 10 pay the same to-
| GO those selling from . stall II
the Central Market. The city
| an der the present system, coul'
| not hope to exercise such inspec
.;nc ~ snnnpvini0n and the aI