The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-12-05

Interest," payable at tho same place, at tho TaIe d
seven 20 per cent per Annun, payable BemlAn
uuAly, nee nom city tLXAllOl, and for raid IN
tefeeh coupons shall be attached 10 each OF IAld
company, subject 70 The provisions Of section
one-SAId commissioners hfst dCtlchllg there
have mAtuEed
SIC. 5. The guarantee required In section sec
ond Of thls ordinance shall DO deemed sufficient
Il one'hAlt Of tho subscription therein named
shan DO made and taken by the Valley Railway
sE6: ., This ordinance shall DO in force .ron
and AFTER Its passage.
AN ORDINANCE, authorizing and directing d
subscription for aud on behalf OF the City Of
Wheeling 10 the capital stock Of the Wheeling
and Ohio Union Railroad Company.
SECTION !. 30 Il ordained BY tho Council Of
or, In tho name and on BEHALF the city or Wheel
Ing, subscribe for and take three thousand shares
OF ono hundred dollars each OF the capital stock
o. the Wheeling and Ohio Union Railroad Com
pAny.
sio .. Such subscriptions shall, pro rata With
other subscriptions to eald company, DO paid 10
tho bonds Of the city Of Wheeling, and the pay.
msnts made BY said commissioners as said com,
pAny shall progress In securing right ofwAy and
In the construction Of its bridge and railway ap.
proacheS on the monthly estimates OF It's chief
engineer. Provided, however, that II said com.
pSny 20 elect, the said commissioners shall ne
gouAte and dispose OF the said bonds, for the
purposes Of this subscription Of tho best price
Or prteee that can be Obtlned, subject 70 the up.
ptoVAl OF the said company, and the said com.
mlseionets shall, with the AvAils thereof make OF
cause 70 DO made the payments on the estimates
SEC j. Said bonds shall be payable thirty
VRnKn RfkAP data n tho rltp ~ NaSV ,p11 ii
interest," payable at the same place, at the nate Of
seven per cent per annun, payable SemlGnnu-
ally, free from CITY taxation, and for E0id inter.
est, coupons shall be attached to each OF said
bonds, and LhAl be delivered on demand OF said
company, when IN amount equal and in addition
% said three hundred thousand dollars shall
have been bona hde subscribed to the stock Of
eatd company by other party or parties, said
commissioners 1rSt detGchlng thereftom and
cansslitng any coupons which may have na-
sEO. 4. This ordinance shall take effect and be
In force from and after It's passage.
AN ORDINANCE, Providing for tho issue. dis.
hursement and redemption Of tho bonds Of
tne city q wheeling, payable 70 the "Wheel.
Ing Ohio Union Railroad Company" and
pAny.m
sEcrI6E I. DO It Ordained by the Council OF
the city Of Wheeling that be
and they are hereby appointed Commissioners
for and on behalf OF the city Of Wheeling 10 pre-.
pare and cause to be printed in proper form
three hundred thousand dollars Of the bonds OF
the city, payable 70 tho Wheeling & Ohio Union
Railroad Company or bearer, and three hundred
thousand dollars OF the bonds Of the city, paya.
bic 10 the Wheeling q Lake Erie Railroad Com.
pAny or bearer; said bonds shall be OF the de-
I nomination o. 49, dollArs each, payable
thirty years from their date, at -, In
the city Of New York, with interest, payable al
the same place, at the rate Of seven per cent Der
annum, payable semi annually, for which said
Interest, coupons In proper form shall be- at
tached to each OF said bonds with the signature
OF tho Clerk OF the city engraved thereon. on
presentation by said Commissioners for that
purpose, said bOnds shall be signed by the
Mayor, countGrBigrGd BY tho Clerk aud sealed
with the common seal OF the city, and re- deliy.
cred to said Commissioners after the Cltrk shall
have taken an account Of the denomination and
number Of said bonds.
SEC. 2. Before such re-de'ivery Of said bonds
to said Commissioners, they shall each give bond
with security. to be approved BY the Mayor, in
the penalty OF - dollars, conditioned for the
faithful discharge Of their duties respectively.
Sec 8. Said bonds shall DO Issued for the pur-
pose and disposed Of as provided by the ordilan-
ces o. this city, passed =. providing for sub
Ohio Union Railroad Company" and the
wheeling d Lake Erie Railroad Company"
SEC. 4. DO It further ordained, that, to secure
the payment and redemption Of said bonds and
the punctual payment oHthe interest thereon nc.
cording TO the tenor and effect Of the same, the
Mayor Is hereby authorized, empowered and d..
rected, by proper instrument In writing and m
der the common seal OF the city, signed and &c.
knowledged for record by him as Mayor, for and
on oehalf OF this city, to convey to said Com.
misstoners and their successors, In, trust, the
city stock in Said railroad eompaniesand all the
whole OF the revenues Of said city, from Whist.
ever source derived, except -.
SIC. o. That rom the various taxes, rents and
revenues Of the city, after dlsChArgIng all annual
liens now existing by virtue Of any ordinance,
there shall at least once in every month be paid
into such bank In the city Of Wheeling as taId
Commissioners shall from time to time direct, 10
the credit Of said Commissioners, such sum as
shall, together with the dividends received by
the city from the stocks OF said companies,
amount In every siX months TO the sum Of
twenty-o thousand dollars and such further
sum not exceeding one per cent, as will cover
exchange and the actual expenses OF said Com
miesioners In the discharge OF their duties; the
dividends Accruing TO the city from said stocks
shall be paid In like manner TO the credit Of said
Commissioners.
SEC. 8. The said Commissioners shall, out oil
kAS AA4SAVJ ASSSAlGA W pay Tue eStQl
al interest Accruing upon tho bonds Issued undel
this ordinance, with the exchange and expenses
necessarily incurred In the execution OF then
duties, not exceeding one per cent; and II AtRny
time the dividends aecruing from said stocks e1.
coed the amount OF such scmi.annual interest
and expenses, the excess shall remain In theII
hands 70 be applied by them to the purchase and
redemption OF said bonds at rate not greater
than their par value.
SEQ. Z. It shall be the duty Of said Commits
aoners once In every year or oitener II REQ ulred
BY Council, to cancel as they are redeemed, and
deliver 70 the Clerk Or the city any bonds or eou
pons redeemed by them, and the said Clerk shall
preserve the same In a book to be provided fol
that purpose.
SEQ. 8. It shall be tho duty Of the Commission
ers to keep true account Of their receipts and
disbursements, and shall report the same tC
Council may direct.
sEc. Q. II shall be the duty OF said Commits
aloners to enforce each and every provision Of
this ordinance according to its true intent anC
meaning, and any. failure upon the part OF any
one Of said Commissioners 10 comply with AMI
deemed forfeiture OF bis bond.
SEC. 10. The Council may for cause, at any
time, remove one or more OF the Commissioner
or OF their successors, and any OF the said Com
miesioners or their successors may at any time
resign his office by giving notice In writing o
ouSA LoelknAAuu W LuO mayor OF OlGIk Oh Tut
city. Whenever any vacancy occurs in the sale
ONCE It shall be filed BY the Council.
sEc. II. The Commissioners and their sue
ceSsors shall receive as compensation for theil
services .-.-of one per centon the amount
disoursed by them pursuant to the provisions o.
this ordinance, which compensation shall be pale
out Of the city treasury.
SEo. u. The bonds and coupons to be issued
under this ordinance shall not DO subject to tax
Atom by or under tho authority oil the city o
Wheeling.
$40; 10. This ordinance shall DO In force from
and after It's passage.
On motion, the further consideration O
the subject was postponed until Friday
night, and the documents ordered to b
printed in the daily papers,
THE OVERLAND MONTHLY FOR DEcEM
BER.-With this number closes the ninth