The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-12-09

HOW DO the friends Of the Bridge like the
prospect, II the ALTMYER amendment Is
defeated? and how do our citizens like
1t, on general principles?
The Resources of the wheeling g.
Lake Erie Railway Company.
When DR.. LOGAN, speaking for the tax
payers Of the city, stood up in the Second
Branch Of Council last Friday night and
asked repeatedly that the advocates Of
the W. & l.. E. Company on that floor
would give some information touching the
resources, prospects and character Of the
organization to which they proposed to
give 100000, (with.a contingent Of $780,.
900 more0 his inquiry was met with blank
silence. There was plenty Of loud talk
about the Wheeling & Tusc4rawas
Valley Railway Company. a something
that exists only in name, and about
the loan of last year consolidating the
debt, but not one word Of information
about the status of the, corporation
then before them asking subscription
Wetrustth theignoranCe in the First Branch
touching this Company is not SO dense as
in the Second. Nevertheless, we venture
to suggest few facts which may serve
to put inquiry on the track Of others.
Article 8, section 6 oi the Ohio Consti.
tuition provides that iS3sta5a $50
"The General Assembly yBhsll never au.
thorize any county, city, town or town.
ship, by vote Of its citizens or other
wise, 10 become stockholder in any joint
stock company, corporation or association
whatever, or to raise money for or loan
It's credit to or in aid oi any such company,
corpe ation or association 2
This shows that only individual citi.
zens in Ohio can subscribe to the stock OF
railroad company. Alaw was passed
by the Legislature Of Ohio last April to
allow counties, cities, incorporated towns
and townships to build railroads for
themselves and lease or sell them. The
law is meant be an evasion of the con-
stitutional inhibition. It Is, we believe, a
plain violation OF it. It is held in Ohio
to be OF doubtful constitutionality, and At
least one case is pending to test it, But
under that law the corporate bodies
named may make debts to build railroads
Of their own till their aggregate indebted
neas amounts to 8 per cent On their tax
basis. The contracts for construction are
to be let to the lowest bidder, after due
advertisement. The bonds issued are to
be placed withithe State Treasurer, to be
paid over by him in instalments as the
work progresses, upon the certificate Of
the chiet engineer endorsed by the cor.
porate authorities; but the Treasurer re-
tains 10 per cent Of the whole till the
whole work is completed. The corpor.
ate authorities may lease the road or may
sell it; but the contract in either case
needs ratification by the voters. ~ -
It is by favor Of this law that the W. &
L. E. Company profess to expect such
local aid as will enable them to build their
road.
The Railroad Committe submitted to
Council last Tuesday night with other
documents, (all printed in our columns
Thursday report from the President
Of the W. s. L. E. Company, purporting
to exhibit the "local subscriptions to the
stock Of the Wheeling & Lake Erie Rail.
road Company" The frst item is
Amount Of local subscriptions reported
October z, 1872, $47s95O." Then follow
amounts voted" by 6andusky, Milan,
Norwalk, New London. Navarro aud
Martins Ferry, aggregating $4G5,OOO.
Then comes wheeling subscription
$500, ,O00;" and the whole arc footed ST.
244,950. We mentioned the,other morn
ing that there was no authority Tor
putting Wheeling down rs "a subscrib.
er, because her subscription had not
been made and may not be. There has
been no agreement with the Company
that It would be, It is as yet simply a
matter OF expectation. This leaves Mr..
wooD only $944,e5O. Now under the
provisions Of the law referred to, (which
any jonei can examine tor himseliJ not one
dollar Of the $465,OO voted by the cities
named is subscribed to the stock Of the
W. q, L. g. Company, as stated by
Mr.. WOODS. We regret that he has
placed himself In such position,
but as one oIIEthe "thIrd house, which
secured the passage Of the "Boesel
law" he Is perfectly familiar with Its pro-
visions and knows what we say Is true
A rumor has been industriously circulated
in this city lately that this law has beer
repealed. 1t is not true, Tho law wa'
passed on the 2Sd OF last April, near tht
close OF the legislative session, There
has been no session Of the Legislature
since, and It therefore could not have beer
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