The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1931-12-18
,ledged to secure the city's funds.

Minnesota, and the First National Bank
of Ely, Minnesota, dated February 4,
1881, the said First National Bank de-
posted certain securities therein enum-
Grated with the City National Bank Of
Duluth, Minnesota, acting as escrow
agents for the Treasurer of the City
of Ely, and
WHEREAS. the said First National
Bank of Ely now wishes to substitute
$4,000 U. S. Treasury $50 bonds Of
1951-55, for $4,000 City of New York
construction bonds maturing December
81, 1881, and $4,000 bonds of the Nor
thern Pacific Railway, maturing July
/, 2047,
BE 1T RESOLVED, by the Common
Council of the City of Ely, that the
substitution be permitted and that upon
the delivery of the substitute securities
herein named, the City National Bank
of Duluth, Minnesota, be hereby auth
orized to return to the First National
Bank of Ely all those securities for
which substitution is made.
The foregoing resolution was moved
by Alderman Banovetz, seconded by
Alderman Olson, and declared carried
on the following vote:
Ayes: Aldermen Banovetz, Homer,
Kapsch, Olson, Tauzell, Mayor Wolff.
Noes: None.
Communication from the First Ma
tional Bank of Ely was read, asking
the Council to designate the Federal
Reserve Bank of Minneapolis, Mime
sofa, as escrow agent with whom to
deposit collateral to secure the funds
of the City of Ely in place of the City
National Bank of Duluth, Minnesota
present escrow-agent.
Alderman Tauzell offered the follow
ing resolution:
WHEREAS, The First National Bank
of Ely, Minnesota, has been designated
by the Common Council of the City
of Ely as depository for its funds, and,
WHEREAS, The said bank desiring
to deposit securities as collateral with
an escrow-agent as provided by law
and recommending as such escrow
agent the City National Bank of Du-
luth, said escrow agent meeting with
the approval of the said Council and
being accordingly designated to act as
such agent, and,
WHEREAS, The said First National
Bank of Ely now desires change of
escrow-agent with whom to deposit
collateral as required by law and the
designation of another escrow-agent,
Be 1T RESOLVED BY the Common
Council of the City of Ely that the
Federal Reserve Bank of Minneapolis,
Minnesota, be designated as such sub
stituted escrow-agent, and,
BE 1T FURTHER RESOLVED, That
the City National Bank of Duluth be
hereby authorized to transmit at once
to the Federal Reserve Bank of Mime
apolis, Minnesota, any and all such col
lateral as it now holds of the First
National Bank of Ely for the said City
of Ely, and,
BE TT FURTHER RESOLVED, That
copies of this resolution be sent to the
First National Bank of Ely, the City
National Bank of Duluth, and the Fed
eral Reserve Bank of Minneapolis,
Minnesota.
The foregoing resolution was moved
by Alderman Tauzell,. seconded by
Alderman Banovetz, and declared car
ried on the following vote:
Ayes: Aldermen Banovetz, Homer,
Kapsch, Olson, Tauzell, Mayor Wolff.
Noes: None.
Communication from the Clerk of
District Court, notifying the City that
the Charter Commission is now COM
plete and composed of the following
members:
Walter E. Englund, F. B. James,
James Moonan, John E. Porthan, j..
E. Thompson, Leonard Slabodnik, L..
j. White, o. w. Parker, E. w. Hanson,
Joseph Mantel, M. j. Murphy, Peter
Schaefer, A. j. Thomas, Andrew Watilo,
Jr., James I. Laing.
Moved by Alderman Olson, sup
ported by Alderman Homer, that the
communication be accepted and filed,
and the City Clerk be authorized to
act for the City Council and call a
meeting of the Charter Commission for
the purpose of organizing. Carried.
Petition from Frank Peshel, ct al,
asking for the widening and improve
ment of the present road between
Blocks l and 4, and Blocks and g.,
in Robins Gardens, was read and re-
ferred to the Committee of the Whole.
Notice of alleged injury and claim for
damages from Frank Marolt, was read.
Claim for $500 from Frank zorman
for alleged damage to his truck claimed
to have been caused by the condition.
of the alley between Sheridan and
Chapman Streets west of Central Ave. y,
was read.
Moved by Alderman Homer, sup
ported by Alderman Banovetz, that the
two claims be filed and referred to the
City Attorney to investigate and report
at the next regular meeting. Carried
Application of John zupancich for
milk license was read.
Moved by Alderman Tauzell, sup
ported by Alderman Kapsch, that the
application be accepted and filed and
license granted upon payment of the
proper fee. Carried.
Applications for dance permits from
the following were read:
Ely Workers Society, Ely Workers
Hall, December Is, 1881;
Frank Lozar Post No. 248, American
Legion, Washington Auditorium, Dec
ember 81, 1881.
Moved by Alderman Homer, sup