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,*~REAS, the 0ity of Portsmouth is the .owner of a~parcel Qf land situate on the North
<br />side of High Street, beginning at a point Fifty-two (52) feet, Two (2) Inches East of the North-
<br />east intersection of Oou~t and High Streets, fronting on High Street, One'Hund~ed and .Thirty
<br />(13O) feet With a depth of one Hundred and Thirteen (ll3) feet, whzch parcel of ~and was leased
<br />by the Trustees of the Town of Portsmouth to William King, William Barnard, David A. Reynolds
<br />and Eliza Keenan by Ninety-nine (99)' yea~v leases, renewable forever, and
<br /> WHEREAS, the Portsmouth Improvement 0ompany is now the holder of said leases, and
<br /> WHEREAS, the Portsmouth Improvement Gompany is about to borrow Fifty Thous~.d ($50,000.00)
<br />Dollars in addition to the $190,000.00 now on said property, from the Eassachusetts Mutual
<br />Life Insurance 0ompany of S~ringfield, Massachusetts, to be secured by Deed of Trust on its
<br />interest in the property above mentioned together with other real estate owned by it, and
<br /> WHEREAS, said Massachusetts ~utual Life Insurance Company desires 'the consent of the Oity
<br />o~ Portsmout~ to the execution of a Deed of Trust on said property, and the Portsmouth Improve-
<br />ment Oompany has applied to the 0ity for such consent,
<br /> ~.~EOW, THEREFORE, BE IT RESOLVED by the Oouncil of the Oity of Portsmouth that the consent
<br />of th& 0ity is given to the Portsmouth Improvement~ Oompany to en~omaber~.the interest of the
<br />Portsmouth Improvement Oompany in the said property ~oove mentioned, to sec?~re a sum in addition
<br />to the $190,000.00 now on said property not exceeding Fifty Thousand ($50,000.00) Dollars and
<br />interest thereon. But it is expressly uaderstood that the ~City of Portsmouth, by giving its
<br />consent ~o ~he~ Portsmouth Improvement Oompany to encumber its interest in said property, does
<br />not release or relinquish any of its rights, as lessor and o~rner in said ~roperty, nor ~nsll
<br />the said consent be construed as giving to the Port~mouth Improvement 0ompany, or its assignee,
<br />or grantee the fee simple estate in said property.~
<br /> On motion of Mr. Mayo, the privilege of the f~oor was granted to ~r. Harry A. Brinkley,
<br /> Attorney for the Portsmouth Improvement Company, who spoke in favor of ~doption of said reso-
<br />
<br />lution.
<br /> On motion of Dr. Dunford, the
<br />Attorney, ~ud by the following vote:
<br />
<br />resolution was adopted, subject to approval of the City
<br />
<br />Ayes-~ B~ooks, Dunford, ~aupin, M~o, Oast,
<br /> ~hite,t 61~
<br />
<br /> The following report was read from the sUPerintendent of the Ferries of the operation of
<br />the Ferries for the Month of ~aroh, 1928:
<br /> "Portsmouth, Va., April 23, 1928.
<br />Council of the 0ity of Portsmouth, and
<br />Board of. Supervisors of Norfolk 0ounty,
<br />Portsmouth, Virginia.
<br />
<br />Gentlemen:~
<br />
<br />March, 1928.
<br />
<br />Traffic
<br />of- h,
<br />
<br />~ehicular Revenue
<br />Passenger Revenue~
<br />
<br />Herewith is submitted a report ~f the operation of the Ferries for the month of
<br />
<br /> The
<br />1928, also for February,
<br />
<br /> ~ebruar¥ 1~2~
<br />
<br />following tabulation shows the passenger and vehicular traffic
<br />
<br />1928, and. Earoh, 1927:
<br />
<br /> arch
<br />
<br /> $35,8~5.53
<br /> 23.067.25
<br />
<br />March 1927
<br />$32,6~3.~6
<br />
<br />$57,059.36
<br />
<br />for the month
<br />
<br /> The following tabulation shows the accumulated zeceipts since the first of the
<br />yes,r, comps.red with the same months last year:-
<br />
<br />1-1 to 3-31 '2'~ ltl to 3-31 '28 Increase or Decrease.
<br />
<br />Vehiculaz Revenue
<br />Passenger Revenue
<br />
<br />$~3,064.12
<br />
<br />$1qo,714.41
<br />. 67,252-5
<br />$167,966.96
<br />
<br />650.
<br />
<br /> ~e atSribute the decrease in passenger traffic tn.s year to the fact that last
<br />year the Berkley Bridge was out of commission from December 28th to March 15th, 1927, which
<br />increased the passenger receipts for that period.
<br />
<br />~erry Sera, ice Ferry servioe_d~ing the mont~h~s been very satisfactory. Three boats have been
<br />opermted during the entire day and four boats during the ~ash ~eriods in the morning and evening.
<br />
<br />Maintenance The work of renewing the condemned plates in the bulkhead and reverse bars on
<br />the Ferry Steamer 'New York'~has been completed. It was necessary to repair ~he three head
<br />b~ches of piling and piles of the fences on the Norfolk docks ~nd practically the same work
<br />on the Portsmouth docks is necessary.
<br />
<br />four Riveters and Burners employe~ in connection with the work on the ferry
<br />and 'New'York' h~ve been released, which is the only change in the pers~nne~
<br />
<br />~ersonnel The
<br />s~eamezs ~Virginia'
<br />for the month.
<br />
<br />I am attaching hereto copy of the ~udit for the month of March,
<br />Hill & 0ompany, Oertified Public Accountants.
<br />
<br />as submitted
<br />
<br />by Frederick B.
<br />
<br />
<br />
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