The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1871-01-16
Some Further observations About
' EnS.

pAuyI r i - NuS HNS ''''S' ~ .
For Pay) again employs the columns Of
the Register to deceive the people Of this
city and to wheedle them into submission
for five or ten years longer to the exactlons
OF that monopoly. Let lis see what kind
Of a case he makes this time. We shall
pass unnoticed what Is unimportant or lr'
relevant, lie asserts; rv.,
I have good reason to believe, and the
public should know, that all OF this clamor
about the purchase Of the Gas Works by
the city means simply the transfer OF the
Works from the present Company to an
other, which, II not already organized, Is
now making arrangements to do So
We have expressed the hope that after
the monopoly that now grinds the people
OF this city has been broken, by the pur'
chase of the Gas Works, legislation would
be enacted for the protection ofthc public
against similar monopolics in future; and
that then the city would dispose OF the
Works to some private company, whether
1t be the present Company or any other.
II any company Is now organized, or If q
single step has been taken to organize one,
with view Of becoming the successor ot
the present Gas Company, We have no
knowledge Of It, nor do We believe It,
Nothing Is easier than these vague asser.
tlons. Ii YOU know anything, Mfr. Attcr.
ney, to sustain your assertions, ccall on
you to make 1t public. Give us the names
of all to whom you pretend to refer. II
you don't do 1t, 1t will be proof of inten'
tlonal deception, ...p ..a ...
And here is the way the new company
Is to get possession:
"The ordinance now being considered
by the City Council Tor the Issue Of city
bonds fol- tiC purchase Of the Gas Works
will make this transfer easy" The bonds
are to he secured by deed of trust upon
the property, and the surplus revenue
accruing from the Gas Works Of said city
shall alone be applicable to the redemption
Of the principal and interest Of this loan
Well, now, what will be the consequence!
IIalfa dozen gentlemen who knoN TINT,
under the city management the surplus
revenue uccruing from tho Gus Works
will not nearly 6e sufficient TO pay the
interest upOn these bonds, Especially II
the price Of gas Is reduced to $500 or less,
us is sagGly prOp0sed), form u ring and
buy the bonds. At the expiration OF six
months they demand their interest. 1t
cannot be paid, and they 'gohble up the
Gas Works"
A man who can deliberately write
such stuff rs that for an intelligent CON-
munity places a very low estimate on
their discrimination. The ordinance
from which he quotes has been revised by
the Finance Committee and may OF
may not embrace the language quoted.
The crude and imperfect draft pre-.
pared by the attorney Of the city
lid, we believe, embrace that Ian
guage. The blunher is such nm Obvious
one II is impossible 1t should escape
the attention OF the Council and be incor.
porated into the enacted ordinance. o.
courseithe purpose is to say that the sur
plus revenue shall be applicable to nj
other purpose thant theredemptton Of TIL
loan, interest and principal, The Council
should see that the English language Is
used with perspicuity sufficient to expires:
that purpose. That the Council intend to
expose the city TO the liability of sacri'
ficing the Works by providing that the
interest on the bonds should not be paid
Il the surplus revenues of the Works did
not pay it, is simply inconcelvable. Would
any man who had bought fneproperty on
credit be fool cnought 10 let his creditors
take It becausethe revenues from II would
not pay the interest on the notesH But no
body knows better than the writer from
whom We quote that 1t Is just as certain
as anything connected with human affairs
can be, that tho surplus revenues Of the
Gas Works under the management Of the
city will pay the interest several times
over. Ifthe works pay the Gas Company
80 per cent on $4,000 each year, Oh
$S4,5OO net profit annually, us We knou
they do, we have no fears that they will
not pay the city s per cent on the rsal
value Of the works, which Is far below
$4,000. 1fthe Gas Company believe in
the theory put forth by their attorney
they have only TO take tho bontls them
selves. In his former article he said all the
Company wanted was reasonably good
Investment Now this is the way TO gel
il. If they are afraid tho Works wont
pay eight per cent profit, let them go on
appoint their arbitrator, consummatt
the transfer, and take the whole award II
the city's bonds 1t would be y paying In
vestment, the ''ring" would be already
formed, and when tho city failed to Tas
their interest they could Immediately
'gobblc up the Gas Works" The suggcs
tion IS cmincntly practical, and is rendered
without charge u .J 'n.1
The Company's writer says again:
The city, of course, could sell to any
person the machinery, real estate, &c.
which II may purchase from the Gas Com
pany, but II cannot convey 10 any third
party the exclusive privilege Of mauulac'
turing gas as guaranteed In tho present
charter ' ''''
Then, of course, the city cannot endow
any future monopoly, aud that Is just what
we want II the city sells tho Works, the
party buying win be subject TO such re-
s,rictions "A tho Legislature may impose