Year: 1873

CONTROLLER SCHROEDER ASKS FAVOR WHICH THB


BOARD ARE ONLY TWO HAPPY TO GRANT.


The Common Council met as usual at p.
m. John NJ Clancy presiding. and after routine busl'
OF little consequence had been disposed Of the fol-
lowing extraordinary communication from Controller
Schroeder was read:


CoNTRonER's OFFICE. BRooKLYS, June 16, 1873.
To The Honorable the Common Council


GENumEN: Your honorable body adopted on tho
Goth day OF May, 1873, the following, viz:


ReSoced That the Controller be and he IL hereby in
sructed not TO issue any more bonds 20 the NewIork
an equal percentum with the City Of Brooklyn their
several subscriptions according to law.


exhausted, and call for ten per cent has been made
ou the subscribers one Of the stockholders, holding
Europe aud be reached. Others will not pay
less they can be compelled 90 do so by law Compliance
with this resolution will therefore put stop TO work
the bridge. majority Of the private stockholders Will
doubt pay up at The conditions which the
city subscribed have been fulfilled. Two millions Of
dollars have been subscribed by other parties and ten
per cent thereof paid III cash. All nstalments or paw
mens on account OF such have been made
payable by the Company equally alike by the city and
by all other members The directors OF the Company
have al the last meeting held the 18th day OF June
1873, directed the Executive Committee TO compel pay
ton against the delinquent stockholders. believe it
the bona de intention OF the directors TO enforce pay


intended by y0urresouton to continuance OF the
work impossible, and believe that the financial officers
OF CITY OF NewYOrk and those OF this city should be
permitted 20 act In this matter and would promise
that they should act IN entire harmony as 10 the pay
ment OF future nsaments on the part or either city,
threfore recommend that the above resolution be
scnded ami that the matter be left in the hanos OF the
financial officers OF the city. Very respectfully,


+. A'SCHRoEDER, Controller.


Alderman Ropes-I move that the resolution be
scnded. think the argument by the Controller is sur
fcient and rejoice at the opportunity TO submit the
motion TO reconsider. believe that the the
last meeting OF the Bridge Company shows that the
crisis past, at least for the present. and that the
strucon Of the bridge not TO cease. The outsiders
who have been heaping caumny or the heads OF the
bridge directors are likely CLOSE their capital.


Alderman Wylie-I will ask the Alderman Of the Third
Ward il the resembling OF the resolution is antamount
to directing the Controller to issue bonds contrary
lawi The resolution we have adopted simply required
hun obey the law nothing He is asked 10 see
that the Bridge stockholders pay up the several
due according to law, and II by the resembling OF this
resolution the Controller to more bonds without
any regard for the fact that the private stockholders
largely in arrears why, the public should know It, This
thing cannot be allowed 10 80 on. The people are
aroused to-day by knowledge OF the fact that they
likely to be called upon pay five per
year. and the day is coming when the full extent tho
suffering will be understood.


Alderman Richardson-who says that the taxes will
be five per cent next yeari


Alderman Wyie-Eyerybody says that it will be, and
estimates already handed in prove It, hope the Teso-
luton will be rescnded. Let the Bridge Directors
pay up and continue the work. or If they cannot and
will not let them get out and turn the enterprise
to the two cities, who will carry it forward to
ful completion.


Alderman Ropes-The Alderman acts his part we'll
and presume at the dictaton Of others.


Alderman wylie to point of order, but was not
permitted speak, the Chairman pounding vigorously
with his gayel


Alderman Ropes-I predict that the taxes OF year
will not be higher than at present. The Controller proposes
strictly in accordance with law in the matter Of
issuing bonds and nothing else. The efforts against the
Bridge Directory have been made IN the hope OF
stopping the work and depreciating real estate that
certain men may reap benefit but the plaD carefully
1t has been concoced will fail deny that there has
been anything wrong In the management OF the bridge
enterprise but If there has been. Let the dead past
bury its dead" II the Bridge Directors have come
forward and intend carry the enterprise accord
ing to the original contract why IN heavens let
them do It, deprecste the action that has renewed
Messrs. Marshall and Hustled from the Directory but
believe that there good men in the Bridge Com
pany to-day and believe that they are much better
men than those who arc attacking them outside. The
bridgeFi go forward 1t viii be success, but not I'LL
then will It's enemies be silenced.


Alderman Taylor-I do not assent 70 the views OF tho
Alderman last the floor and yet favor the motion 70
rescnd would be glad for the good OF the two cities
which is the only means by which the bridge can be
buit-to have the towers stand Just where they now
are have the work stop until the people can calmly
consider the subject and ascertain what further sums OF
money TO DO spent favor the motion to reseind
the resolution, soc In the default OF the
private stockholders for the city TO refuse como up 20
full letter aud spirit Of It's obligations II the good
faith OF the city has been pledged is incumbent on us
10 that the pledges are kept nvioate and not at
tempt to ddle out OF It's agreement the failure OF
private individuals Let 10 rs far as We have agreed
TO- and then We shall be in position TO determine
whether there enough in hands 30 warrant fur
ther expenditure believe that the advantage TO &C
crue to the two cites Ia great and don't believe
that we have any right to take backward movement
and fail to sustain we'll meaning attempt on tho part
OF the Controller TO carry out the pledges OF the city